Seymour's contract details

[AdamJT13]

First of all, it appears that the Patriots got around the 12-month rule for renegotiations (he signed the deal yesterday) by keeping Seymour's cap number exactly the same as it had been -- $4,420,160. So either the CBA's reference to "Salary to be paid to the player" means "cap number," or that rule was clarified or changed in the recent CBA extension.

Anyhow, here are the details --

The "extension" is for only three more years past 2006. Seymour got a renegotiation bonus of $5.34 million, prorated at $1,335,000 per season. He also got a workout bonus of $100,000 in addition to his standard $6,160 workout bonus. His $585,000 base salary, plus his $1,335,000 prorated bonus and $100,000 additional workout bonus add up to $2.02 million -- exactly what his salary would have been, which is why his cap number is the same.

Next year, Seymour is due an option bonus of $18.66 million. If the option is not exercised, Seymour will become a free agent in 2008, and his 2007 base salary becomes $19.26 million AND is guaranteed. He has workout bonuses of $106,720 each season from 2007 through 2009.

His cap numbers each season will be $4,420,160 in 2006, $8,261,720 in 2007, $8,391,720 in 2008 and $11,346,720 in 2009.

 

[pats1]

"Mommy, I want to be like AdamJT13 when I grow up."

Excellent stuff as always, Adam.

 

[flutie2phelan]

Thank you for the excellent info, Adam13!

So, it is a THREE-year extension, thru '09 (not the four widely trumpeted).

And it doesn't change this year's cap status at all ... leaving the club to continue cheerfully
toting around its sizable surplus ... perhaps until June 1st cuts come down.

 

[BelichickFan]

I liked 5 more years more than 4 but the whole DL is still signed for 4 years now and a lot can change in 4 years. OK, let's get Deion done.

 

[Pats726]

Great information and clarification!!!

 

[Digger44]

This is unbelievable work newbie. Great job and welcome. My only question is your source.

 

[BelichickFan]

This is unbelievable work newbie. Great job and welcome. My only question is your source.

Don't question Adam, he is an impecable source. And he's not a newbie, he just only posts when he has something worthwhile - unlike people like me

 

[dhamz]

Not saying the contract info is wrong, but it doesn't really mesh with this quote from Seymour today:

"If my second five years can be as good — as far as my success and the teams' success — I'll be happy at the end of the day."

That would be in line with the much reported 4 year extension.

 

[pats1]

Not saying the contract info is wrong, but it doesn't really mesh with this quote from Seymour today:

"If my second five years can be as good — as far as my success and the teams' success — I'll be happy at the end of the day."

That would be in line with the much reported 4 year extension.

http://nflpa.org/Members/playerProfile.asp?ID=30098

 

[Miguel]

Thanks, Adam!!!!

 

[Miguel]

This deal surpasses both Abraham and Kearse's in terms of new money. Seymour will be getting $26,835,000 in new money over the 1st 3 years of his contract. Abraham - $25.5 million. Kearse - $23.5 million.

Seymour will be getting $30,520,000 in new money over the 1st 4 years of his contract. Abraham - $30.5 million. Kearse - $28.7 million.

This contract should FINALLY put the end to the notion that the Patriots will not make a player the highest paid player at his position.

 

[ralmat55]

Could this be an interim agreement that will be reworked again in August? That might explain the discrepancy as to whether the deal ends after the 2009 or 2010 season.

 

[Miguel]

Could this be an interim agreement that will be reworked again in August? That might explain the discrepancy as to whether the deal ends after the 2009 or 2010 season.

Anything is possible but I doubt it. It is very likely that the 12-month window was reset.