From Mike Reiss:
"The breakdown in talks traces to May, when the Patriots attempted to spark negotiations by offering Branch a contract extension through 2009. The offer included a $4 million signing bonus and $4 million option bonus payable in 2007. Branch's base salary for 2006 would be $1.045 million, followed by salaries of $1.4 million in 2007, $4.3 million in 2008, and $4.75 million in 2009. The deal also included workout bonuses of $300,000. Over the four years of the deal, Branch would be paid just shy of $5 million per year. Assessing only the three years added to the original contract, plus bonus money, Branch would be averaging about $6.25 million per year."
If you use the years 2007 through 2009, then the Patriots' offer is $6.25 million per year.
If you use the years 2006 through 2009, then the Patriots' offer is less than $5 million per year.
Personally, I would use the years 2006 through 2009 since the Patriots are able to amortize the cost of the 2006 signing bonus over 4 years.
