We explained earlier today that Vick’s six-year $100 million contract with $40 million guaranteed is actually a five-year, $80 million contract with $35.5 million guaranteed.
There are some new details regarding the deal.
Vick’s $20 million compensation for 2011 comes from a $7 million signing bonus, a $10 million guaranteed base salary, and a $3 million roster bonus. His cap number is $14.4 million, which created $1.8 million in additional cap room for the team.
In 2012, Vick earns a guaranteed base salary of $12.5 million. His cap number is $13.9 million.
In 2013, Vick’s base salary is $16.5 million, but it has a $1 million de-escalator, which would drop the salary to $15.5 million. (The specific event that would drop his salary isn’t known.) Only $3 million of the amount is guaranteed, for injury only. The cap number is $16.9 million.
For 2014, Vick’s base salary of $12.5 million can escalate to $15 million. He also has a $3 million roster bonus, and a cap number of $19.4 million.
For 2015, Vick has a base salary of $14.5 million, with a roster bonus of $2 million. The cap number is $17.9 million.
After year two, when all of the fully guaranteed money has been paid, it will be easy for the Eagles to walk away. In 2013, they’d take a pre-June 1 cap hit of $4.2 million. In 2014, the pre-June 1 cap hit would be $2.8 million. After June 1, they’d split a $1.4 million cap charge over 2014 and 2015.
The deal essentially guarantees Vick the franchise tag amount for 2011, 2012, and a slice of 2013 (injury only), with no real guarantees beyond that.
