Report: Drew Brees gets his deal, will make insane money

[DaBruinz]

People need to remember that the Devil is in the details.

While Brees is going to receive 40 million this year, we don't know how that is broken up. So we don't know how it will affect NO cap situation. But, as someone else mentioned, there is a good bet that it's going to be at or below the 16.4 million Franchise tag number.

 

[MoLewisrocks]

These things get ridiculous every year....... in a few years we will have QBs asking for 60-70 mill per year............

40 mill for first year? are u freakin kidding me......

what will happen now is media and fans will start scrutinizing every game played by Brees........ every loss will be blamed on him.......

Back in 2004 Manning got $35M+ in the first year. They are talking about salary and signing bonus...

Here are the details from Tom's last deal. He had a year left.

"Had 1 year left (2010) for a total of 6.5M ($ 3M bonus already received and $3.5M salary).Cash Earned increase this year is 20M in salary and new signing bonus.

Guarantees
•$48.500 Guarantee at the time of signing
•$28.3M is guaranteed for Skill, Injury & Salary Cap
•$19.7M is guaranteed only for Injury & Salary Cap, meaning Brady could be cut for “skill” and that money would not be earned.

Averages Per Year
•$72.M for the four-Year Extension
•$18M annual average
•$78.5M for the full five-year contract
•$15.7M annual average

Cash Earned
•$26.5M in 2010 (Y1): The original $ 6.5M in salary and old bonus, plus $ 4M in new money and $ 16M signing bonus.
•$36.5M 2011 (Y2): This is his 2011 earning plus 2010.
•$48.5M 2012 (Y3): Three-year total.
•$63.6M 2013 (Y4): Four-year total
•$78.5M 2014 (Y5): Total value of contract if he plays it out fully.

So he got 4 times $18M AAV in new money in 2010. A year later Manning got $19.2M average in new money while tagged. Two years later Brees' has gotten $20M AAV in new money.

And FWIW Brees played out a 6 year $60M deal that he signed coming off the shoulder injury in 2006. Brady played out 5 years on the same $60M deal he signed in 2005. Manning was coming off a 7 year $98M deal he signed in 2004.

Manning would have topped what Brees just got last year if not for the injury. Had things worked out differently Indy would have paid him $69M in the first three, and that was what Brees' was reportedly pushing for. NO was trying to stay between Brady's $18MAAV and Manning's $19.2M AAV.

 

[Gronkandez]

you think that's good? Aaron Rodgers is also smiling from ear to ear. And he's five years younger!

As long as he doesn't get concussed again this year!

 

[Salva135]

So what is Rodgers looking at in 2 years? 10-yr, 100M GTD?

 

[MoLewisrocks]

Florio is reporting that Brees' signing bonus is $37M... If so that will amortize against the cap at $7.4M per. So if his salary this season is $3M to equal that $40m in the first year, his cap hit will drop to $10.4M or so this season. Will make for some whopping cap hits in a couple of years... The cap average would at that point be up to $22.2M per, so any cap hits lower than that beginning next year just ups the ante more on the back end.

 

[MoLewisrocks]

So what is Rodgers looking at in 2 years? 10-yr, 100M GTD?

Depends on when they do the deal, but if he gets $21M per average in new money for 5 years on top of 2 remaining years after this year, his cap will be a whole lot more manageable than Drew's.

 

[MoLewisrocks]

Sources -- Drew Brees, New Orleans Saints agree to record contract - ESPN

I think ESPN is using salary as interchangable with earnings. No way his 2012 "salary" is $40M because they don't have the cap space to absorb it therefore the deal would not past muster at the league level.

And his $60M in guaranteed money isn't really, you know, guaranteed... What he really got was $45M fully guaranteed and $15M more in rolling guarantees that kick in in February of 2013 and 2014 unless they release him (which of course they won't because of dead cap).

On his 2010 4 year extension, Brady got $48.5M guaranteed although $19M of it was only guaranteed for 2 of the 3 guarantees that constitute fully guaranteed, skill, injury and cap. Within the first two years he rolled into the remaining guarantee on that money.

 

[Calciumee]

How the f**k can they put $40million in the cap on 1 player?

 

[MoLewisrocks]

How the f**k can they put $40million in the cap on 1 player?

They aren't...

They had $2M in cap space with him on the tag at $16.4M. His cap hit will now be what I said it would be...

Andrew Brandt‏@adbrandt

I am told the structure of Brees in year one is : 37M signing bonus, 3M salary. 10.4M Cap, down almost 6M from Tag number of 16.37M.

The trouble will come 3-4 years from now when his cap #'s are in the mid 20's...especially if the cap then has only risen to maybe $130M...

 

[Delicate Genius]

Oh good, for a second there I thought he was gonna end up on the street.

 

[brady199]

you think that's good? Aaron Rodgers is also smiling from ear to ear. And he's five years younger!

Well Arod is locked up for about 10M per until 2014, so he's either gonna have to wait his turn or hold out.

 

[MoLewisrocks]

i think he pushed to far and he's a bit of a NFLPA poster boy these days, but if pherein needs some consolation his 10 year average in NO if he plays this deal out will be...$16M. The tough part is to get there required a jump from $10M per in the first 5 to $20M per in the last 5...

Brady has always done incremental deals here to help them manage their cap. Tom Condon won't allow his elite clients to even consider that. He sees it as a discount, and his elite clients don't do home town discounts. They reset bars.

 

[MoLewisrocks]

Well Arod is locked up for about 10M per until 2014, so he's either gonna have to wait his turn or hold out.

If they are smart the Packers will try and do an incremental early deal with him before next season (2013) unfolds. Then they can absorb some of the new money blended with the old money the way NE has with Brady's deals. Unless they're unreasonable they should be able to since Dunn and not Condon is his agent. Eli will be another matter. Like his brother and Brees, he is a Condon client.

 

[MoLewisrocks]

ProFootballTalk‏@ProFootballTalk

Drew Brees cap numbers: $10.4M (2012), $17.4M (2013), $18.4M (2014), $26.4M (2015), $27.4M (2016)

If the cap remains flat through 2014 and only goes up slowly but steadily thereafter, Drew's probably gonna need a couple of phony years added on to the back end of this deal in 3 years.

 

[MoLewisrocks]

Here is a good overview of all the top QB's and their situations and deals.

Aaron Rodgers: A Look at the Contract Numbers of Other Top NFL Quarterbacks | Cheesehead TV

If Manning passes his physical prior to next season his deal also guarantees $60M in the first 3... 60 must be Condon's favorite number.

 

[Steve102]

If they are smart the Packers will try and do an incremental early deal with him before next season (2013) unfolds. Then they can absorb some of the new money blended with the old money the way NE has with Brady's deals. Unless they're unreasonable they should be able to since Dunn and not Condon is his agent. Eli will be another matter. Like his brother and Brees, he is a Condon client.

Eli doesn't hit the market until 2016, if I clicked correctly. A great deal will change on the landscape of QB contracts between now and then, wouldn't you think?

Brady's next contract, assuming there is one, will likely be a guideline for Manning's. Granted, Brady will be an aging future HOFer, but Manning will be 35 and likely on his final payday as well.

 

[signbabybrady]

Am I the only one not shocked who thinks this looks right?

 

[MoLewisrocks]

Eli doesn't hit the market until 2016, if I clicked correctly. A great deal will change on the landscape of QB contracts between now and then, wouldn't you think?

Brady's next contract, assuming there is one, will likely be a guideline for Manning's. Granted, Brady will be an aging future HOFer, but Manning will be 35 and likely on his final payday as well.

Condon reset the bar with his brother twice in the last year at ages 35 and 36 and coming off neck surgery that cost him a whole season (and the colts $26M). Both deals had conditional guarantees of $60M in the first 3 if he passed a physical after the first season. Condon will be looking to reset the bar again with Eli at whatever age. He reset even on the first try as they did his present deal during the final year of his rookie deal. Expect a new Eli deal before the 2015 season. Just don't expect it to be discounted. He will likely get his $17M 2015 salary guaranteed and partially converted to signing bonus plus about $23M more...

There will be a next Brady one. Once they restructured him to create cap space this year his remaining cap hits of $21.8M per in 2013 and 2014 all but guaranteed it.

 

[Steve102]

Condon reset the bar with his brother twice in the last year at ages 35 and 36 and coming off neck surgery that cost him a whole season (and the colts $26M). Both deals had conditional guarantees of $60M in the first 3 if he passed a physical after the first season. Condon will be looking to reset the bar again with Eli at whatever age. He reset even on the first try as they did his present deal during the final year of his rookie deal. Expect a new Eli deal before the 2015 season. Just don't expect it to be discounted. He will likely get his $17M 2015 salary guaranteed and partially converted to signing bonus plus about $23M more...

There will be a next Brady one. Once they restructured him to create cap space this year his remaining cap hits of $21.8M per in 2013 and 2014 all but guaranteed it.

Wouldn't it behoove them to wait until Brady's is done? Rodger's is also up after 2014. You'd think Condon would want more than Brady's deal at 38, and at least as much as AR, unless Manning Jr's production eclipses those of Rodgers. They they could simply wait for GB to sign him and then demand more.

 

[MoLewisrocks]

Wouldn't it behoove them to wait until Brady's is done? Rodger's is also up after 2014. You'd think Condon would want more than Brady's deal at 38, and at least as much as AR, unless Manning Jr's production eclipses those of Rodgers. They they could simply wait for GB to sign him and then demand more.

They will all be extended before their present deals run out. Rogers is on a second deal signed in 2008 that averages <$11M per. Eli is on a 2009 second deal that averages $15.3M. Both did those deals with a year remaining on their old deal. Brady's cap hits in 2013 and 2014 make an extension necessary for cap relief, not to mention to come in line with his stated intent to play until at least 40. They can't tag him based on those cap numbers. His tags would be in the range of of $25-30M as a result for 2 additional years and in excess of $40M for a third year... It's an extension for Brady or a 2016 third round compensatory pick...