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Panthers Extend Greg Olsen

Jeremy Igo

By Jeremy Igo,
in Carolina Panthers

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KSpan Grand Master

KSpan

Posted
Posted

By far Cam's favorite target. This is great because we have Greg until he's maybe 33 and then they can see where he is at physically and mentally and extend for a couple more if needed at that time.

This is exactly why this is a solid deal.

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Mol3m4n Mentor

Mol3m4n

Posted
Posted

I guess I am the Huddle tightwad but this makes him 3rd in the league in average salary?

I have nothing against him and hope he retires here, but being ahead of Witten? I don't know, I guess in my world the team cap would be like $67 million or something and we would never sign a soul, but I try never to get too enthused for any player when we are spreading cash around.

He is a team leader, community leader, incredible player, etc. I will crawl back under my rock now.

Maybe not 5 years ago, but he's every bit better than Witten now.

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jdpanther5 Newbie

jdpanther5

Posted
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Will save about $1.5 million in cap room at the most assuming the 3 years are added onto the end of his current contract meaning he has 4 years left on his deal. If it replaces his current deal and he is under contract for 3 more years, it saves about $500k. It's not much at all really because of the big signing bonus.

Right, if it's an extension it saves approx. $1.5 - $2 million of cap space this year.

I must be missing something. It's an extension, so they don't do anything to the current year. However, $3m of the new signing bonus hits immediately, so we actually add to his cap hit.

His original hit was $7.8m, we changed nothing this season but with his signing bonus it increases the hit to $10.8m.

Good signing though.

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Frank Hollywood Newbie

Frank Hollywood

Posted
Posted

I must be missing something. It's an extension, so they don't do anything to the current year. However, $3m of the new signing bonus hits immediately, so we actually add to his cap hit.

His original hit was $7.8m, we changed nothing this season but with his signing bonus it increases the hit to $10.8m.

Good signing though.

Awesome contract. 10.8 hit this year but 3.5 the next two years and 3 the last year.

Edit- that doesn't sound right. Spotrac must be wrong? Or is the entire 10.8 counting towards his fully guaranteed money

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Bartin Collaborator

Bartin

Posted
Posted

I must be missing something. It's an extension, so they don't do anything to the current year. However, $3m of the new signing bonus hits immediately, so we actually add to his cap hit.

His original hit was $7.8m, we changed nothing this season but with his signing bonus it increases the hit to $10.8m.

Good signing though.

Will have to wait to see the details but I think the final year of the current deal is usually just cut to the vet minimum with the signing bonus being used as his 2015 pay. In which case, it's really $18M in new money rather than $22.5M which is certainly possible because the terms were released by Rosenhaus who would want to make it look better than it is. Giving him $12M on top of the $5.25M he was scheduled to make in 2015 would be a pretty dumb move by Gettleman
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Bartin Collaborator

Bartin

Posted
Posted

I must be missing something. It's an extension, so they don't do anything to the current year. However, $3m of the new signing bonus hits immediately, so we actually add to his cap hit.

His original hit was $7.8m, we changed nothing this season but with his signing bonus it increases the hit to $10.8m.

Good signing though.

Will have to wait to see the details but I think the final year of the current deal is usually just cut to the vet minimum with the signing bonus being used as his 2015 pay. In which case, it's really $18M in new money rather than $22.5M which is certainly possible because the terms were released by Rosenhaus who would want to make it look better than it is. Giving him $12M on top of the $5.25M he was scheduled to make in 2015 would be a pretty dumb move by Gettleman
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jdpanther5 Newbie

jdpanther5

Posted
Posted

Awesome contract. 10.8 hit this year but 3.5 the next two years and 3 the last year.

Yeah I love it longterm, but there is an immediate hit.

There's gotta be a base though, right? $22.5m total implies the remaining $10.5m not included in the signing bonus will be divided up over the 3 years, so $3.5m per. Plus $600k in already paid bonuses from the previous contract.

2015: $10.8m

2016: $7.1m ($3m signing, $3.5 base, $600k option)

2017: $7.1m (same as 2016)

2018: $6.5m ($3m signing, $3.5m base)

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