Schefter: Pats sign Ty Warren to 5-year, $36M ($17.5M guaranteed) extension

[BelichickFan]

Re: Salary numbers are in

http://www.nflpa.org/Resources/ActivePlayerSearch.aspx?id=34583

2009 1225000
2010 2900000
2011 3100000
2012 3250000
2013 3900000

Make of it what you will

There's about $20M missing - must be lots of bonuses, etc, in there.

 

[patsox23]

Re: Salary numbers are in

what do you make of the figures, miguel? Inquiring minds want to know...

 

[Miguel]

Re: Salary numbers are in

what do you make of the figures, miguel? Inquiring minds want to know...

I am pleasantly surprised to see that Warren did indeed sign a 5-year extension. There was a report that his deal run through the 2011 season which would have made it a 3-year extension.

That is all that I can really say without seeing the bonus numbers because I am now less confident that the media got those right.

 

[Brownfan80]

Re: Salary numbers are in

I am pleasantly surprised to see that Warren did indeed sign a 5-year extension. There was a report that his deal run through the 2011 season which would have made it a 3-year extension.

That is all that I can really say without seeing the bonus numbers because I am now less confident that the media got those right.

That part didn't even click to me. So it was 5 years tacked on to the end of the existing deal then, NOT the 3 tacked on years that was widely reported? That is fantastic news. That significantly improves the deal from the FO side of things, as the money 'per year' will be distributed through the two additional years which will lower the 'per year' cost. Correct?

 

[VJCPatriot]

Re: Schefter: Pats sign Ty Warren to 3-year, $36M ($17.5M guaranteed) extension

Good signing.
Shows that this team is thinking ahead.
What cap impact for the Pats in 2007 though, oh cap gurus?

 

[Miguel]

Re: Salary numbers are in

That part didn't even click to me. So it was 5 years tacked on to the end of the existing deal then, NOT the 3 tacked on years that was widely reported? That is fantastic news. That significantly improves the deal from the FO side of things, as the money 'per year' will be distributed through the two additional years which will lower the 'per year' cost. Correct?

Yes.

This has nothing to do with your post but I just pointed to point that any bonus given to Warren in 2007 will now be prorated over 6 years, not 5 years as I had originally thought.

 

[PatsSteve1]

Re: Salary numbers are in

I am pleasantly surprised to see that Warren did indeed sign a 5-year extension. There was a report that his deal run through the 2011 season which would have made it a 3-year extension.

* I wa sguessing it had to be 5 years added due to how the Branch negotiations went. I don't think you'll see the Pats forgetting years of a current deal.

 

[solman]

Re: Salary numbers are in

http://www.nflpa.org/Resources/ActivePlayerSearch.aspx?id=34583

2009 1225000
2010 2900000
2011 3100000
2012 3250000
2013 3900000

Make of it what you will

This is absolutely fantastic!

The deal as originally announced (a three year extension) would have paid him too much for two reasons:

1. It didn't compensate the Patriots enough for taking the risk of paying a guy so far in advance. Injuries and skill deterioration MUST be accounted for.

2. It didn't leverage the fact that the Patriots own Warren's rights for at least two more years (plus time as a franchise player).

This deal (if true) will be the steal of the century if Warren plays at his 2006 level over the next seven years. This deal will also avoid pissing off the rest of the Patriots players. What an amazing triumph for Belioli.

(And collecting $18M is going to be fun for Warren too. Who knows what would have happened over the next 2-3 years if he hadn't signed.)



The numbers also appear to be consistent with the numbers given by McElroy. If we assume:

1. $18M in signing and option bonuses during the first three seasons
2. $100K in work out bonuses each season
3. The numbers for 2007-2008 remain the same minus escalators

The we get to $22.05M over three years or $7.35M/year which is what McElroy said.

If all seasons had 100K workout bonuses and there are no other bonuses, we would wind up with $35.6M, which isn't too far off from the quoted $35M (but I'd expect the agent to be saying "over $35M" in this case).

 

[solman]

Re: Schefter: Pats sign Ty Warren to 3-year, $36M ($17.5M guaranteed) extension

Good signing.
Shows that this team is thinking ahead.
What cap impact for the Pats in 2007 though, oh cap gurus?

If correct and all the guaranteed money came as a upfront signing bonus, then it will cost us $3M against 2007 cap.

We probably won't need the $3M this year anyway (it would have been moved to 2008 via faux LTBE incentives). But even if we did need the space, we have plenty of ways to create it, given our relatively sound cap situation.

In more important cap news:

1. During the Freeney era, when defensive ends make ungodly sums of money, we will have a pro-bowl caliber DE for 7 years at substantially less than fair market value.

2. If all of the $18M is paid during year 1, and the NFL as a whole exceeds the total compensation threshold in 2007, the Patriots will very likely be one of the teams getting slapped with a salary cap penalty in 2008-2011. [In 2006, the league was under the threshold, and all the teams got a salary cap bonus for 2007-2011.]

 

[pats1]

Reiss reports the extension is actually for 5 years, not 3 as was suspected. this means Warren isn't a FA until March 2014:

http://www.boston.com/sports/football/patriots/reiss_pieces/2007/08/warren_revisite.html

August 21, 2007
Warren revisited
By Mike Reiss, Globe Staff

RE-ANALYSIS
When the Patriots agreed to a five-year contract extension with defensive end Ty Warren last week, we reported that the deal extended through the 2011 season. Not so. The deal actually extends through 2013.

This is a significant point, because it means Warren is under contract to the Patriots for the next seven seasons, not the next five.

Warren received a $7 million signing bonus and $7 million option bonus as part of the extension. The extension includes $18 million in guarantees. The three-year average of new money is $7.4 million.

...

 

[italia44]

Reiss reports the extension is actually for 5 years, not 3 as was suspected. this means Warren isn't a FA until March 2014:

http://www.boston.com/sports/football/patriots/reiss_pieces/2007/08/warren_revisite.html

Wow...this is absolutely stunning.

To lock-up a DL like Warren long-term is just...brilliant.

Compare this to what Freeney got and what Peppers will get next year and you'll get a sense why the Patriots are always ahead of the curve.

Scott Pioli...make room on the mantlepiece for another NFL Executive of the Year.

 

[shakadave]

This also increases the chances that my next jersey will be a Warren 94.