We’ve been wondering for the past few days about the status of the balance of quarterback Kurt Warner’s $15 million signing bonus, given his decision to call it quits after only one year of the two-year deal that Warner received in 2009 -- and given the Cardinals’ reputation for being, um, very careful with their money.
Under well-established league precedent, Warner is not entitled to keep the full $15 million. Instead, he must return half of it.
Andrew Brandt of NFP reports that the contract was structured to permit the Cardinals to recover the money without actually having to put a figurative or literal lock on the Gatorade cabinet.
Per Brandt, the remaining $7.5 million was due to be paid out to Warner in 2010, in weekly installments during the regular season. The contract states that, if Warner is not on the roster, Warner isn’t entitled to the money.
The situation could have gotten interesting if Warner had played poorly in 2009, and if the Cardinals had opted to cut him before the 2010 season. Based on Brandt’s explanation, Warner would have been stiffed out of the back end of his signing bonus, which essentially operated as a per-game roster bonus next year.
But the structure allowed the deal to be trumpeted in 2009 as containing $19 million in guaranteed money, even though half of the $15 million signing bonus apparently wasn’t guaranteed -- and in the end won’t be paid.
So there will be no ugliness or awkwardness between Warner and the Cardinals.
Unfortunately.
