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Canadian Saint
Joined: 02 Mar 2010
Posts: 1540
Location: Canada!
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 Posted: Fri Jul 13, 2012 1:50 pm Post subject: Drew Brees signs! |
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Thought this deserved it's own thread. I know we have a super busy forum, but I think we can make an exception.
Per Mort:
100M for 5 years. 40M in the first year. 60M over the first 3 years of the deal.
Saints radio was saying 30M signing bonus and 10M salary.
Great to have our starting QB back!
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Harper41
Joined: 29 Aug 2009
Posts: 11860
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| Posted: Fri Jul 13, 2012 1:52 pm Post subject: |
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Looks like well be making runs at free agents in years 2 and 3. Only reason i think they'd give him 40M in year one and then 10M the next two years
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MikeT14
Joined: 02 Jan 2006
Posts: 4438
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| Posted: Fri Jul 13, 2012 1:52 pm Post subject: |
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whew, a silver lining for you guys. I'm glad he's back (officially) with you all.
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Canadian Saint
Joined: 02 Mar 2010
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Location: Canada!
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| Posted: Fri Jul 13, 2012 1:57 pm Post subject: |
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| Harper41 wrote: | | Looks like well be making runs at free agents in years 2 and 3. Only reason i think they'd give him 40M in year one and then 10M the next two years |
I think it's more cap flexibility.
If it's true that 30M is the signing bonus, then it spreads out that cap hit over the term of the contract.
So 30/5 = 6M cap hit every year of the deal.
His salary is said to be 10M/yr. So his yearly cap hit is 16M/yr. It gives us an ok amount of flexibility, instead of having a 20M cap hit or something.
Yeah we give him 40M in year one, but it only counts towards 16M against the cap. Something which is more important than the total money.
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Canadian Saint
Joined: 02 Mar 2010
Posts: 1540
Location: Canada!
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| Posted: Fri Jul 13, 2012 3:13 pm Post subject: |
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Cap details:
http://profootballtalk.nbcsports.com/2012/07/13/brees-gets-37-million-to-sign/
Cap hits:
2012: 10.7
2013: 17.4
2014: 18.4
2015: 26.4
2016: 27.4
Release details:
| Quote: | The $40 million paid in 2012 is fully guaranteed. For now, $20 million beyond 2012 is guaranteed for injury only. Next year, on the third day of the waiver period (typically, the third day after the Super Bowl), $15 million of the injury guarantee becomes fully guaranteed. The extra $5 million remains guaranteed for injury only.
In 2015, again on the third day of the waiver period, more than half of his $19 million base salary becomes fully guaranteed. Ditto for 2016; on the third day of the waiver period, more than half of the $20 million base salary becomes fully guaranteed. |
We gained cap space this season.
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scar988
Joined: 05 Apr 2005
Posts: 28723
Location: Charleston, SC
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| Posted: Fri Jul 13, 2012 3:16 pm Post subject: |
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| Canadian Saint wrote: | Cap details:
http://profootballtalk.nbcsports.com/2012/07/13/brees-gets-37-million-to-sign/
Cap hits:
2012: 10.7
2013: 17.4
2014: 18.4
2015: 26.4
2016: 27.4
Release details:
| Quote: | The $40 million paid in 2012 is fully guaranteed. For now, $20 million beyond 2012 is guaranteed for injury only. Next year, on the third day of the waiver period (typically, the third day after the Super Bowl), $15 million of the injury guarantee becomes fully guaranteed. The extra $5 million remains guaranteed for injury only.
In 2015, again on the third day of the waiver period, more than half of his $19 million base salary becomes fully guaranteed. Ditto for 2016; on the third day of the waiver period, more than half of the $20 million base salary becomes fully guaranteed. |
We gained cap space this season. |
Brees also helped y'all out because if he retires after year 3 of this deal, y'all paid him $60M and only had 36 hit the cap.
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QB Connoisseur
Joined: 20 Nov 2010
Posts: 3311
Location: Tiger Stadium
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| Posted: Fri Jul 13, 2012 3:20 pm Post subject: |
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FINALLY 
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Canadian Saint
Joined: 02 Mar 2010
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Location: Canada!
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| Posted: Fri Jul 13, 2012 3:37 pm Post subject: |
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| scar988 wrote: |
Brees also helped y'all out because if he retires after year 3 of this deal, y'all paid him $60M and only had 36 hit the cap. |
He could also restructure in the last two years couldn't he? So if he is playing at a high level in those last two years, he could give us a more friendly term. If at worst he's not, then we got a nice contract for 3 years of the deal.
Happy with the contract Loomis got us.
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scar988
Joined: 05 Apr 2005
Posts: 28723
Location: Charleston, SC
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| Posted: Fri Jul 13, 2012 4:17 pm Post subject: |
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| Canadian Saint wrote: | | scar988 wrote: |
Brees also helped y'all out because if he retires after year 3 of this deal, y'all paid him $60M and only had 36 hit the cap. |
He could also restructure in the last two years couldn't he? So if he is playing at a high level in those last two years, he could give us a more friendly term. If at worst he's not, then we got a nice contract for 3 years of the deal.
Happy with the contract Loomis got us. |
and he's happy with it too because he just got paid.
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tylerdouglass
Joined: 21 Dec 2009
Posts: 14168
Location: Bellingham, WA
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| Posted: Fri Jul 13, 2012 6:20 pm Post subject: |
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I like the contract.
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tylerdouglass
Joined: 21 Dec 2009
Posts: 14168
Location: Bellingham, WA
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| Posted: Fri Jul 13, 2012 6:23 pm Post subject: Re: Drew Brees signs! |
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| Canadian Saint wrote: | | Thought this deserved it's own thread. |
ya think?!
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jcvoodoo
Joined: 26 Jan 2012
Posts: 251
Location: Germany
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| Posted: Sat Jul 14, 2012 1:29 am Post subject: |
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Loomis for GM of the year!
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GBPACKMAN4LIFE
Joined: 17 Dec 2007
Posts: 16377
Location: Spokane, WA
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| Posted: Sat Jul 14, 2012 3:37 pm Post subject: |
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| jcvoodoo wrote: | | Loomis for GM of the year! |
Has a GM who's been suspended for parts of the year ever won executive of the year?
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| cpnesdude41 wrote: | | hope you guys aren't at work.. cuz ur about to get bonerzz. |
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sammymvpknight
Joined: 22 Feb 2005
Posts: 3304
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| Posted: Sat Jul 14, 2012 10:12 pm Post subject: |
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| GBPACKMAN4LIFE wrote: | | jcvoodoo wrote: | | Loomis for GM of the year! |
Has a GM who's been suspended for parts of the year ever won executive of the year?
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Has a GM ever been suspended? The Saints have had an unreal offseason...both in the good and bad variety. |
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