Minnesota Vikings cornerback Cedric Griffin signed a 5-year, $28.5 million dollar contract extension last Friday. Here are some of the details.
Before signing the extension, Griffin was due to make $535,000 in 2009, the final year of the 4-year contract he signed after being the 48th overall pick of the 2006 NFL Draft. According to NFLPA records, Griffin has the following base salaries:
2009 - $2,535,000
2010 - $3,000,000
2011 - $3,335,000
2012 - $4,100,000
2013 - $4,850,000
2014 - $5,450,000
Overall, that adds up to a $22.75 million dollars in base salaries.
Now for the unofficial part.
Based on the total reported value of his extension ($28.5M), and the reported guaranteed portion of the deal ($10.5), and my own knowledge of how NFL contracts are structured, I would guess that Griffin received a $5,000,000 signing bonus and his 2009 and 2010 base salaries ($2.535M and $3M) are fully guaranteed, giving him a total guarantee of $10.535M dollars.
Under this calculation, to reach the $28.5M in new money this deal has, Griffin likely has $125K workout bonuses from 2009-14.
If this is the case, Griffin's cap numbers would be:
2009 - $3.985M
2010 - $4.125M
2011 - $4.46M
2012 - $5.225M
2013 - $5.975M
2014 - $5.575M
Like I said, the base salaries are 100% official, with the signing/workout bonus/salary cap implications part being just my best guess at what those figures are. I've been pretty accurate with these details (nailed the T.J. Houshmandzadeh contract to the penny.)
No comments:
Post a Comment