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Drew Brees Gets His Money


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#1 Windu

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Posted July 13, 2012 - 09:59 AM

http://espn.go.com/n...record-contract


Drew Brees and the New Orleans Saints have reached an agreement on a five-year, $100 million contract that all sides concur will guarantee Brees an NFL-record $60 million, including a first-year take in 2012 of $40 million, according to league, players union, and team sources.

The accord was struck Friday morning in the latest round of negotiations between Saints general manager Mickey Loomis and Brees's agent, Tom Condon.

Brees had until Monday at 4 p.m. ET to reach a long-term contract with the Saints or his only option would have been to play in 2012 under the terms of his franchise tender of $16.371 million. But he had no plans to report to training camp without a long-term contract, sources said.

Brees's 2012 salary of $40 million is fully guaranteed. In 2013, the Saints will have a three-day window to release him after the waiver period begins (five days after the Super Bowl); if not, Brees gets another $15 million of fully guaranteed earnings, bringing his two-year total to $55 million.

In 2014, the same three-day waiver scenario is in place before Brees is fully guaranteed another $5 million, with an additional $1 million in salary. Under the assumption Brees is the team's quarterback for the next three years, he would make $61 million during that stretch, with $60 million fully guaranteed, the highest guaranteed total an NFL player has ever earned. Calvin Johnson's deal with the Lions, signed earlier this year was initially reported to guarantee $60 million, but a closer look found it only fully guaranteed $48.75 million.

While the waiver window gives the Saints an out, both the league and union view the $60 million as "guaranteed" because of the extreme unlikelihood that the Saints would want to have paid Brees $40 million for one year or $55 million for two years.

The remaining $39 million to be earned in 2015 and 2016 is subject to the same waiver formula, bringing the potential grand total to $100 million over five years. No player in NFL history has averaged $20 million per year.

Brees must still take a physical and sign the contract, which is considered a mere formality.


Brees just got paid. About time, he deserves it

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#2 True Lakers Fan

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Posted July 13, 2012 - 10:14 AM

Thank You! finally

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#3 West Coast

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Posted July 13, 2012 - 10:33 AM

@RossTuckerNFL
Brees got biggest $ guarantee in NFL history yet it's less than Nets just guaranteed Brook Lopez. Who? Exactly.



#4 Windu

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Posted July 13, 2012 - 10:39 AM

lopez got more than 60 mil? wow

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#5 LakersGAFan

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Posted July 14, 2012 - 09:19 AM

absolutely over paid. Not to diss his skills or ability. Its just to much money to pay regardless if hes the Jesus of QB's or not. And hes not.

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#6 Windu

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Posted July 14, 2012 - 11:18 AM

per year, the contract is right on par with the likes of peyton manning and tom brady

Drew Brees' new five-year, $100 million contract makes the New Orleans Saints quarterback the NFL's top-paid player on an average annual salary ($20 million). But the way the Saints structured the deal, it gives the franchise some $6 million more in cap space than if Brees had signed his franchise tender. Here's the year-by-year breakdown:

2012
$37 million signing bonus
$3 million base
CAP HIT: $10.4M ($3M + $7.4M bonus proration)

2013
$10 million total
CAP HIT: $17.4M ($10M + $7.4M bonus proration)

2014
$11 million total
CAP HIT: $18.4M ($11M + $7.4M bonus proration)

2015
$19 million total
CAP HIT: $26.4M ($19M + $7.4M bonus proration)

2016
$20 million total
CAP HIT: $27.4M ($20M + $7.4M bonus proration)


Edited by Windu, July 14, 2012 - 11:20 AM.

Pau Gasol is GONE





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