The four-year extension signed by Chargers quarterback Philip Rivers reportedly is worth $84 million. Which means that he’ll earn $21 million per year in “new money.”
That’s $900,000 per year less than the $21.9 million annual “new money” earned by Seahawks quarterback Russell Wilson. But the total value of the contracts over the next five years gives Rivers the clear edge; factoring in his $15.75 million in base salary for 2015 under his prior deal, Rivers now has a five-year, $99.75 million deal. Wilson’s deal is worth $89.142 million.
So Rivers will make more than $10 million more than Wilson over the next five years. Or more than $2 million more, on average, per year.
Rivers reportedly has $65 million guaranteed in his new deal. The devil resides in the details, as usual, with the amount fully guaranteed at signing the most important metric. Wilson has more than $60 million guaranteed, but $31.7 million is guaranteed in full at signing.
The contract leaves Giants quarterback Eli Manning and Eagles quarterback Sam Bradford as the only starting quarterbacks unsigned beyond 2015. Both are represented by CAA, the firm that negotiated the Rivers deal.
