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ESPN reports terms of Seymour Deal

Discussion in 'PatsFans.com - Patriots Fan Forum' started by PromisedLand, Apr 12, 2006.

  1. PromisedLand

    PromisedLand Virtual Internet Person

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    Kind of. Here they say that according to NFL sources, the deal is a four year extension worth $30M.
  2. flutie2phelan

    flutie2phelan Rookie

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    Thanks for the quick lead.

    IF TRUE, BigSey's cap hit averages 7.5 million those 4 years. Hard to believe it is so small ...
    here we've been chewing over the range of 8 to 9.
    If true ... everyone should be happy.
  3. edgecy

    edgecy Rookie

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    that sounds like plenty leftover for Branch
  4. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    I certainly would be. The operative phrase here is one of the highest paid defenders...

    "Neither the terms nor the financial details of the contract were immediately available. But several league sources said on Wednesday evening that the extension is for four years, through the 2010 season, and worth about $30 million, which would make Seymour one of the highest-paid defenders in the league, regardless of position."



    If true it's a short but to the point so also likely a very real deal too. A 4 year extension rather than a new 5-6 year deal - should allow them flexibility to tack on another couple or so (or not) depending on where we are at when Richard is enters his 30's. Will be interesting indeed to see how they structured it - should not be the insane up front bonus money tied to a longer deal but maybe a roster bonus due sometime this season to intended to eat up some of that available cap.
  5. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    Me? whether 7.5 or 8, I'm ecstatic. Only one thing would make me happier, and thats a cap hit of say 4 mill this year in the form of an un-prorated bonus (uh, assuming the bonus structure is the same for extensions as for contracts.) That gets you a million back each of the next 4 (or of course, an extra hit of 6 to get back 1.5...)

    Plenty left for Branch... plenty left for some journeyman bargains... plenty left for (of course) brilliantly selected/coached rooks...

    ahhhhhhh Christmas in April

    PFnV
  6. groundgame

    groundgame Rookie

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    A guess at the terms: $4M YR 1, $5M YR 2, $6.5M YR 3, $8.5M YR4 with a $6M SB.
  7. PatsSteve1

    PatsSteve1 Rookie

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    We'll have to see how much is guaranteed and structured. Most deals that'd be 4 years at 30 mill, if indeed that's correct, would have alot as salary in the last year that most players would likely never get. With the Pats cap space, it may be front loaded where he may get all or most of that 30 million early instead of late. If he is 'one of the highest paid' DL's instead of THE highest paid, didn't he say himself he didn't have to be THE highest paid?
  8. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    The signing bonus or bonuses will be a lot more than $6 - he may get that much this year (because of our cap position) and it isn't even a year the deal covers.

    That's the wildcard here. If they are handing him a bonus check this year is this really 4/$30M or 5/$32M. Either way is fine with me because for all intents and purposes it is the latter. And that deal pays Richard about $6.5M on average over the next 5 seasons, in which he just happens to be 27-31 and, if he remains healthy, in his prime.

    Either he's getting a lot up front, some unusual guarantees, he blinked, they know something or the initial reports are off. I just hope if the reports are right he's still talking to Eugene Parker a couple of years from now. :D
  9. spacecrime

    spacecrime Rookie

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    It said:

    which would make Seymour one of the highest-paid defenders in the league, regardless of position.

    CBs make a lot of money. I would thinik this should put Seymour at the top of the DL pay scale.
  10. PatsFanInVa

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    The rest of the quote's good Mo, but I need to point out I was talking about unprorated bonus (thinking roster bonus etc.) Which did pretty much dovetail with the rest of your post. And I can't get too mad at the inventor of the GrammatIcon.
    ::woohoo::
  11. smg93

    smg93 Rookie

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    I'm glad he's back for a few more years. In my opinion, we've finally got our two key performers signed in Brady and Seymour. That just signals to me that the Pats are primed for an extended successful run in the coming years assuming both those guys stay healthy.
  12. PatsRI

    PatsRI PatsFans.com Supporter PatsFans.com Supporter

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    From Felger:

    According to industry sources, the four-year extension the Pats star defensive lineman signed yesterday is worth just over $30 million with a first-year bonus in the neighborhood of $12 million and combined signing and option bonuses totaling around $19 million.

    The average annual value of the deal (nearly $8 million) is in the ballpark of the record contract extension signed by defensive end Jevon Kearse with Philadelphia in 2004 ($8.2 million per year). More importantly, Seymour’s total take far surpasses what Kearse received over the first four years of his deal ($25 million).


    On the other hand, Kearse received an up-front bonus of $16 million and was given an eight-year term totaling $66 million.


    Which is more valuable? Kearse got the bigger check on Day 1 and can claim a higher average value. Seymour got the better four-year package, and he didn’t even have to go to free agency to get it (2006 was his walk year).


    The debate gives each side the chance to claim victory.

    http://patriots.bostonherald.com/patriots/view.bg?articleid=134906
  13. Amnorix

    Amnorix Rookie

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    Seems to me that there's no way Seymour would want the deal Kearse got, which was for 8 years. Under his new deal, he makes more in the first 4 years than Kearse, and he gets to hit the free agency lottery again in 2011, when he'll be 31 years old. With the way the cap is going up, he almost certainly will make more over the next 8 years than Kearse, assuming all else is equal (mainly health)...
  14. Pats726

    Pats726 Rookie

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    It seems like a win-win situation..and that is great!! It has to be a big signing for the team!!
  15. JoeSixPat

    JoeSixPat Rookie

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    Sounds like a "win win" for both the Pats and Seymour

    While Seymour may have taken a slight "discount" allowing the Pats flexibility and the continued ability to maintain to other premier free agents that neither he nor Brady demands to be, or is, the highest paid player at their position.

    Meanwhile, by having the Pats agree to a contract that does not fully cover all of his most productive years, Seymour is positioning himself for another huge payday in 2010.

    A worthwhile gamble on his part if he stays healthy - but because he wasn't overly greedy in the present he will likely gain more in the future.

    Other players would do well to make note of this agreement.
  16. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    "Here’s what you call a win-win: Richard Seymour can claim to be the highest-paid defensive lineman in football and the Patriots have enough wriggle room to claim they didn’t set the market, keeping an important internal policy intact."

    Bingo

    "According to industry sources, the four-year extension the Pats star defensive lineman signed yesterday is worth just over $30 million with a first-year bonus in the neighborhood of $12 million and combined signing and option bonuses totaling around $19 million.

    The average annual value of the deal (nearly $8 million) is in the ballpark of the record contract extension signed by defensive end Jevon Kearse with Philadelphia in 2004 ($8.2 million per year). More importantly, Seymour’s total take far surpasses what Kearse received over the first four years of his deal ($25 million)."

    But the real beauty of the deal is Richard's $2M 2006 still remains, apart from this deal. Even though he will get a big chunk of cash from the new deal way up front this season, all that does is spread the new money over 5 years rather than the 4 it specifically covers. So regardless of what spin which side chooses, the team quietly comes out the winner because Richard's AAV over the next 5 seasons is actually in the $6.5M or so range.

    "Which is more valuable? Kearse got the bigger check on Day 1 and can claim a higher average value. Seymour got the better four-year package, and he didn’t even have to go to free agency to get it (2006 was his walk year).

    The debate gives each side the chance to claim victory.

    “He’s being paid at the top end, but it’s not setting a new standard,†the industry source said. “It’s not crazy money.â€

    In my book the biggest winner is the organization. Their player got his deal now, with a big chuck of change a year early without having to hold out or face tag and trade acrimony - and when all is said and done all it took was a deal that got Belioli their comfort price range locked in for the next 5 years.

    And I guess if you are keeping score, as some here do, you could also say that those who said he would get or deserved Kearse money were right on the one hand, while those who said the team would not pay him that were just as right on the other. Shifting a portion of his payout and cap hit on the new deal into this season should provide sub-$7M average cap hits and value for the remainder of the deal.

    It's the epitome of a win-win deal. The only bump in the road will come in 2010 when it's decision time for both sides again. The structure will determine whether the deal is prime for extension, decision or disruption. And it's possible they gave him something else, like an agreement not to tag him in 2011. That would be a valuable trade off for a player who wants two post rookie bites at the contract apple and who believes he will still be young for the second bite to be substantial.

    FYI the article originally quoted has been removed and replaced with a reworked one:

    http://patriots.bostonherald.com/patriots/view.bg?articleid=134838

    Not much different in substance although it now refers to the deal as reportedly being worth between $7-8M per year and hints a lot of it may be guaranteed. It also says that Seymour had not been attending the off season program thus far this spring and rehashes some of the contract fueled sayings and doings of last season.

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