Mayo's Restructured Contract

[mgteich]

Did we ever get the details of Mayo's contract.

I know that 2015 includes $4.5M in guaranteed (including a $1.5M bonus) and incentives that could add up to $1.5M.

I understand that there are two option years, presumably with options before the season starts.

 

[Miguel]

We are still waiting to hear the details.

 

[Miguel]

https://www.nflpa.com/public-salary-cap-report shows that the Patriots' cap space increased by $4,187,500.

 

[Miguel]

Guessing that Mayo's salary was lowered to $1.5m. He received a 3m signing bonus. His 46-man active roster bonus appears to have been eliminated as well as his $250K offseason workout bonus.

 

[hornetfb85]

Believe me when I say that I hope JM absolutely balls out and it is a no brainer to pick up that 11.4 million option. Is there any hit if they cut him after 2015 though. Sure it has been discussed thoroughly, but just wondering.

 

[captain stone]

If an $11.4M option for 2016 is true, then Mayo's option for 2016 will not be exercised.

 

[jmt57]

Field Yates has a breakdown on Mayo's contract and the cap savings:

Jerod Mayo contract details: Patriots save $4.1 million in cap space - New England Patriots blog - espn

The New England Patriots and linebacker Jerod Mayo recently agreed to a contract restructure, creating $4.1 million in cap space for the team in 2015 by lowering his cap charge to $6.1 million.

Below is a closer look at the new deal, which includes $4.5 million guaranteed, including $3 million in a signing bonus, and a team option in both 2016 and 2017.

2015
Signing bonus: $3 million
Base salary: $1.5 million (guaranteed)
Incentives: Up to $1.8 million (tied to playing time, making the Pro Bowl and team qualifiers)
Cap value: $6.1 million
Cash value: $4.5 million

2016
Roster bonus: $4 million due on the first day of the league year if the team exercises his 2016 option
Base salary: $3.25 million
Roster bonus: Up to $500,000 ($31,250 for each game he is on the 46-man active roster)
Incentives: $300,000 for making the Pro Bowl
Workout bonus: $250,000
Cap value: $11.4 million
Cash value: $8 million

2017
Roster bonus: $2 million due on the first day of the league year if the team exercises his 2017 option
Base salary: $6.75 million
Roster bonus: Up to $500,000 ($31,250 for each game he is on the 46-man active roster)
Incentives: $300,000 for making the Pro Bowl
Workout bonus: $250,000
Cap value: $11.4 million
Cash value: $8 million​

 

[resdubwhite]

hard to see him staying around in 16 and 17 for that coin.

 

[Miguel]

Pretty sure 2017 cap number is $10.5 million.
http://www.patsfans.com/salary-cap/?p=1690

 

[Hammer of Thor]

Thanks Miguel for your hard work and great stuff here.

Agree with others that regardless of what happens, they're not picking up the 2016 option. Unlike Wilfork and Revis, I see Mayo doing everything in his power to stay here though. Similar to Amendola.

Don't mean that as a slight on Wilfork by comparing his situation with Revis. Just saying that Wilfork was ok leaving for significantly more money and (possibly) snaps. Not sure if I see Mayo doing that; I see him more in the Amendola mold.

 

[Fencer]

I presume the difference between cap value and cash value is close to what would be the dead money if his option were not exercised (except hat both the 2016 and 2017 amounts would be pulled forward into 2016)?