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Four years, $62 million for JPP

The Giants surprised a lot of observers by signing Jason Pierre-Paul to a new contract this early in the offseason but there's several reasons why it makes sense.

Jason Pierre-Paul wanted a long-term deal, and Jason Pierre-Paul got a long-term deal.

With the deadline for converting his one-year franchise tender into a multi-year contract nearly four months away, the Giants and JPP got a deal done.

Per a source with knowledge of the situation, it’s a four-year deal with a base value of $62 million. Of that amount, $29 million is fully guaranteed at signing.

The cash flow is as follows: $22.5 million in 2017, $35 million through 2018, $49.5 million through 2019, and $62 million. Incentives can push the value of the contract to $66 million.

Pierre-Paul swapped his $16.9 million franchise tender in 2017 plus the possibility of a 44-percent increase if franchise-tagged again in 2018 or a 20-percent spike if transition tagged for $35 million over two years. His guaranteed money of $40 million (fully guaranteed at signing plus injury-only) covers the $37.18 million he would have made under the franchise tag this year and transition tag next year.