Wake’s deal has a base value of only $33.8 million
Posted by Mike Florio on May 10, 2012, 10:56 AM EDT
As usual, initial reports of the value of the contract between the Dolphins and linebacker Cameron Wake were higher than reality.
Described on Sunday as a $49 million contract with $20 million guaranteed, we’ve gotten our mitts on the deal.
And, as expected, it’s not as strong as advertised.
Cutting through the fog (yeah, we like to tie in the pictures when we can), here’s what Wake will get:
1.
Signing bonus of $7 million.
2.
Fully-guaranteed base salary of $615,000 in 2012.
3.
Fully-guaranteed base salary of $3.565 million in 2013.
4.
Fully-guaranteed base salary of $5.82 million in 2014.
5.
Base salary of $8.2 million in 2015, $3 million of which is guaranteed for injury only for now.
If Wake if on the roster on the fifth day of the 2015 league year, the $3 million becomes guaranteed for skill and injury.
6.
Base salary of $8.275 million in 2016.
7.
Workout bonuses of $50,000 in 2012, $50,000 in 2013, $65,000 in 2014, $100,000 in 2015, and $125,000 in 2016.
8.
Up to $5 million in escalators for 2014, 2015, and 2016 based on sacks.
It adds up to $17 million in fully-guaranteed money upon signing, and a base value of $33.865 million.
The deal goes to $48.865 million only if Wake hits the full amount of every escalator.
There’s no guarantee he won’t, but there’s also no guarantee he will.
And even if he does, the money isn’t guaranteed.
And with cap numbers closing in on $10 million for each of the final two seasons of the five-year deal, there’s also a good chance it will ultimately be a three-year deal with a base value of $17.165 million.
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