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Kevin Kolb signs 1 year extention with 12.6 mil guaranteed

Dpantherman

By Dpantherman,
in Carolina Panthers

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Dpantherman

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Adam Caplan (caplannfl)

I'm reporting the Eagles and Kevin Kolb have agreed on a one-year contract extension with roughly $12.26 million guaranteed.

http://twitter.com/caplannfl

When the Philadelphia Eagles traded veteran QB Donovan McNabb to the Washington Redskins earlier this month, they made the decision that fourth-year QB Kevin Kolb was ready to be their starter.

As Scout.com first noted back during Senior Bowl week in January, there was strong talk in league circles that the team would look to move McNabb because they were ready to turn the page to the younger signal caller for 2010 and beyond.

On Thursday afternoon, the team emphasized that point even more by extending the former University of Houston star's contract. However, without a Collective Bargaining Agreement between the players and owners, and due to the complexities of the "30 percent rule", Kolb's contract was extended for just one season, but the deal includes roughly $12.26 million in guaranteed money, a league source told Scout.com.

The 30 percent rule restricts base salary growth for more than 30 percent from year to year for renegotiated contracts completed during an uncapped year. Option and roster bonuses are prohibited within the 30 percent rule, so it's very difficult to renegotiate deals with years left. The remaining option to get Kolb's contract up to speed with the rest of the top starters in the NFL was to give him a large signing bonus. Signing bonuses are excluded from the 30 percent rule. The guaranteed money in the extension, as expected, comes in the form of a $10.7 million signing bonus. The team also gave him the maximum raises allowable within the 30 percent rule for 2010 and 2011 for his base salaries. The two years of the base salaries are also guaranteed.

Once the 25-year old quarterback was moved to the top of the depth chart back on April 4, he actually became the lowest paid starter at his position in the NFL. That's not the case any more. In fact, he technically will be paid more on an average per year basis than Tom Brady ($12.132 million) and---McNabb ($12.1 million).

Kolb was selected in the second round of the 2007 NFL Draft by the Eagles.

http://profootball.scout.com/2/966716.html

Its not a given, but this could be the route we have take with Ryan Kalil. but im not toally sure

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Montsta

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So is that 30% rule why owners aren't jumping to restructure guys contracts this year and front load it so they don't cost much against the cap down the road?

I was wondering why a team like Carolina wouldn't extend someone like Beason and pay him boo-koo bucks this year, and then maybe like $4MM/year for 2011 and beyond.

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