Mayo's contract details

[MoLewisrocks]

I think it more likely that the option bonus is due in March 2013 and spread over the 5 years of the new contract.

Actually it isn't. Guaranteed option bonuses are seldom delayed past the coming season since you're on the hook for the guaranteed money otherwise through forfeiture language elsewhere in the contract. In Mayo's case that took the form of injury guarantees on two years of his backend salaries that go away once the option is exercised. He's getting $25M guaranteed all told whether they pick up the option or not.

Here are some more details:

Over the weekend, New England Patriots linebacker Jerod Mayo signed a five-year, $48.5 million contract extension. A league source has passed along the details and here's how the deal breaks down:

Signing bonus: $6 million
2012 Option bonus: $12 million

Base salaries

2012: $750,000 (injury only guarantee)
2013: $1.25M (injury only guarantee)
2014: $3.25M (injury only guarantee)
2015: $6.25M (injury only guarantee; injury only guarantee reduces to $4.5 million if option exercised)
2016: $7.25M (injury only guarantee voids if option bonus exercised)
2017: $8.75M

Total base salary: $27.5 million, $26.75 million of which is considered "new" money.

In addition, Mayo has $500,000 in per game roster bonuses from 2013-17 ($2.5M total) and $250,000 workout bonuses from 2013-17 ($1.25M total). Combined with the signing/option bonuses and base salary, the amount of new money is $48.5 million, or $9.7 million per year, which ties him with Oakland Raiders outside linebacker Kamerion Wimbley for eighth-highest APY among linebackers, just ahead of Pittsburgh Steelers linebacker Lawrence Timmons ($9.559M).

Mayo can also earn $300,000 in annual incentives tied to Pro Bowls from 2013-17, and next year's base salary can increase by up to $800,000 under his previous contract.

Mac's Football Blog: Jerod Mayo Contract Breakdown

 

[mgcolby]

Whoa slow down. Mayo is worth the investment but lets not start trying to compare him to Ray Lewis. and if you look up Rays stats you wont be suprised that he is far better than Mayo. Rough calculation Mayo is on pace for like a 1/3 the number of career pics and sacks and about the same on forced fumbles.


Ray is one of two players to ever have 30+sacks 30+ INts, Rodney is the others and Barber has a shot at it, though 3 sacks for a DB can be tough.

I'm not saying he is Lewis, I was just pointing out to the poster that it isn't as if Lewis is getting 8 sacks, 5 or 6 FF and 5 picks every season.

 

[VrabelJr]

This is too much money for Mayo but regardless I'm glad to have him here for a while. I thought the reason for doing an in season contract extension was to get him at a lower rate. I felt like $6-8MM per year was more in Mayo's range. This is right near Patrick Willis money.

 

[mgteich]

We could compare the contracts of Willis and Mayo. Their structure is a bit different, but the value is similar.

The patriots wanted to make sure that our defensive quarterback was here long-term. We have Brady on the offense to build around . We have Wilfork and Mayo on the defense.

This is too much money for Mayo but regardless I'm glad to have him here for a while. I thought the reason for doing an in season contract extension was to get him at a lower rate. I felt like $6-8MM per year was more in Mayo's range. This is right near Patrick Willis money.

 

[hodgey]

We could compare the contracts of Willis and Mayo. Their structure is a bit different, but the value is similar.

The patriots wanted to make sure that our defensive quarterback was here long-term. We have Brady on the offense to build around . We have Wilfork and Mayo on the defense.

Has'nt the defense been building around Wilfolk & Mayo for a few years now? The front seven should be better with what most posters on this board, along with probowl voters, consider a premier NT/DT and a premier LB. Do Big Vince and Mayo make players around them better like a justin Smith or Ray Lewis do? If the answer is yes then the plan has to be the problem.

 

[DaBruinz]

Why do believe that the option bonus and contract should be spread over 6 years instead of 5?

My guess is that the $6M is paid out now and the $12M option bonus at the start of the new contract, in 2013.

I believe that the option will be paid in 2012 because I don't see the Pats waiting 2 years to pay Mayo the 12 million option bonus. Also, with the 10.75 cap hit that Rappaport mentioned (and only 8.75 million in salary) With 500K in a roster bonus and a 250K workout bonus, there is still 1.25 million not accounted for by Rappaport. And I figured that was part of the amortization, but that doesn't make sense either as a re-look at it.

 

[DaBruinz]

The max you can amortize under the new CBA is 5 years. The option bonus is likely due in 2012 and then it can be spread over 5 years unless it is guaranteed with forfeiture language that ups his salaries if it isn't picked up - in which case they are already spreading it over 5 years including this year although they haven't actually had to shell it out yet. The Patriots often use option language to spread out the cash hit.

Mo - I stand corrected. I was under the impression that Option bonuses were not limited to the 5 years, but they are. Thanks for pointing that out.

The deal is for all intents and purposes a deeply discounted deal based on the last two years of the rookie deal remaining in tact making it essentially a 7 year $50M+ deal... It sucks that mediots in this town fail miserably to learn from their mistakes in reporting these deals in their zeal to report the details first...without firmly grasping what those details actually mean. 3+ years into this 7 year arrangement the cap will begin to again implode as the revenue from the new TV deal extensions kicks in. By the time Mayo has a $10M cap hit in 2017 the cap will be (perhaps well) in excess of $160M. And sadly by then we likely will be done paying our QB $18M.

I disagree that this is a "deeply discounted deal" considering that Mayo will be earning over 19 million in the next 2 years thanks to the Signing bonus and Option bonus, as well as the roster and workout bonuses, even though his salary is only 1.3 million for this year and next year.

I think you meant to say the cap will EXPLODE (Get bigger) not implode (get smaller).

 

[DaBruinz]

Has'nt the defense been building around Wilfolk & Mayo for a few years now? The front seven should be better with what most posters on this board, along with probowl voters, consider a premier NT/DT and a premier LB. Do Big Vince and Mayo make players around them better like a justin Smith or Ray Lewis do? If the answer is yes then the plan has to be the problem.

A defense is more than just 2 players. It's 11. And even if there is one below average player, it is detrimental to the defense. If you don't think that Wilfork and Mayo make the players around them better, then the issue is your ability to evaluate the situation.

The plan is not the problem. The problem is your inability to understand that things don't happen over-night and sometimes there are things that coaches cannot control (like severe injuries). Losing Warren last year. Losing Wright and Pryor 2 years in a row. Losing Bodden last year. Losing Spikes this year. Missing Chung for 6 games this year. These are clearly things you haven't taken into consideration.