Giants, Manning agree on $54 million deal

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Giants, Manning agree on $54 million deal

Postby Brendan » Thu Jul 29, 04 1:36pm

For six years, with a $20 million dollar signing bonus, second highest in NFL history only to his brother. I don't know what the cap hits will be but they somehow made it work. It seems he won't be missing camp after all.

http://www.macon.com/mld/macon/sports/9273112.htm
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Postby Brendan » Thu Jul 29, 04 3:48pm

Meant to originally post under this name, but I used the wrong login.

Anyhow, I've read conflicting reports about the $20 million bonus. Some have said it is a straight up signing bonus, while others refer to it as simply "bonus money" meaning it could be roster/workout bonuses (boni?) as well which would help lessen the first year cap hit which was the main obstacle given the Giants rookie cap. It is especially curious because Carson Palmer only got a $10 million dollar signing bonus, with about $5 million in other guaranteed money, which is most likely to lessen the cap hit. However, the Giants go well above that with smaller cap room, and no complicated bonus scheme. But this mostly likely means the departure of some prominent players making a little too much coin in about 3 years. (Barber, Strahan, Toomer)

Additionally, the $54 million figure is only if he reaches certain performance bonuses. Without the incentives, it is worth $45 million over six years.

I hope this all works out.
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Postby Chris » Thu Jul 29, 04 6:40pm

Yeah, I don't really understand the deal. The article mentions that the bonus is spread out over 5 seasons, but he's signed for six, so it should be six seasons. I've also heard the $20 million described as "guaranteed" money - which could come in the form of roster bonuses - which are effectively signing bonuses that aren't given until a certain date - but are effectively guaranteed because to avoid them, you would have to cut him and swallow the huge signing bonus in a lump sum.

Whatever the case, I'm glad he's signed in time for camp, as it may accelerate his career greatly. And if that means saying goodbye to Toomer, Barber or Strahan in three years, I have no problem with that. They'll be largely ineffective by then - well, maybe not Toomer.
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Postby Brendan » Mon Aug 2, 04 11:38am

So, apparently this contract is highly confusing and is loaded with options, buybacks, escalators, etc. It also seems that it is designed to be renegotiated in 2007, but we will see.

http://sports.espn.go.com/nfl/columns/story?id=1850116
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Postby Chris » Mon Aug 2, 04 7:07pm

Not that it really matters anyway. How many players are there out there that go more than four years without a contract negotiation anyway? Plus, four years from now, those seemingly ridiculous numbers could be a bargain the way contract numbers always inflate.

P.S. Report from Training Camp - (at the bottom) how much of this just seems like basic stuff? Why on earth couldn't Jim Fassell handle the turnover stuff? Man, he was a bad coach. He might have been a great O coordinator, but a bad Head coach.
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