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Chiefs get Peyton Hillis on the cheap

Tennessee Titans v Cleveland Browns

CLEVELAND, OH - OCTOBER 02: Running back Peyton Hillis #40 of the Cleveland Browns is tackled by cornerback Cortland Finnegan #31 of the Tennessee Titans at Cleveland Browns Stadium on October 2, 2011 in Cleveland, Ohio. (Photo by Matt Sullivan/Getty Images)

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As usual, the initial reports regarding the value of the contract signed by running back Peyton Hillis in Kansas City was overstated. But given that the reports suggested a one-year, $3 million deal, it couldn’t have been overstated by much.

Per a source with knowledge of the contracts, Hillis receives a fully-guaranteed base salary of $1.4 million, along with a $1 million fully-guaranteed roster bonus that comes due over the weekend.

The only fluff comes from $400,000 in per-game roster bonuses. If he has, say, strep throat and can’t play in a given game, he won’t earn $25,000.

And so it’s a base deal of $2.6 million, and it’s fully guaranteed. Which makes Hillis more likely to make it onto the final 53-man roster.

It’s still a lot less than Hillis had hoped to be getting, and here’s a little more on the decline of his career, from Thursday’s PFT Live.