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Matthew Slater follow-up
A follow-up on the contract signed by fifth-round draft choice Matthew Slater:
It is a four-year deal, with a $175,000 signing bonus.
The base salaries are:
2008: $295,000
2009: $385,000
2010: $475,000
2011: $565,000
The final year includes an escalator that could increase the value of the base salary based on playing time in the first three years of the deal.
Mike, could you give some perspective on that signing bonus? I don't follow this stuff that closely, but $175,000 seems like a pretty significant signing bonus for a 5th round pick who will have a hard time just making his way onto a crowded roster. Does this indicate that the Pats think they have a role on the team for Slater, or is this signing bonus pretty typical for a player drafted in that position?
Hi Dan, that's a pretty standard amount. Ryan O'Callaghan, a fifth-round pick in 2006, had a signing bonus of $190,500. O'Callaghan was drafted 136th overall, while Slater was 153rd. So O'Callaghan would naturally be a little richer, even counting for yearly inflation. Enjoy the weekend.
--Mike
Hey Mike,
A) Can I assume the signing bonus is pro-rated over the length of the deal ? Is it all up - front withSlater's case ? I can not see the $25-30 million bonuses all being paid up front !
B) Go on Vacation. Leave now. You have more than earned it !
Cheers
Blair,
I think they usually split the bonus up over the length of the contract.
I could be wrong but I think the bonus is obviously paid at signing, and then amortized over the length of the contract in terms of how it counts against the salary cap. If he gets cut, the entie remaining amount to be amortized comes into the cap for the current year.
That's probably an oversimplication, if it is even correct at all.
the signing bonus is paid over the course of the contract, but the entire amount is guaranteed...so if he gets cuts year 2, he gets the rest of it immediately and the rest of the bonus hits the cap at once
I think that Justin R is correct because I remember reading a year or two ago that Seymour was the highest paid player one year in actual $ paid to a player because of the signing bonus. He maid roughly 24 mil that year. I could be wrong as well but it was a year or two ago.
This guy's gonna be a burner... Yeah!!!!
I can't wait for training camp to start. I'm gonna push and elbow little kids out of the way to get this guys autograph!
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