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Joey Galloway's contract
The contract signed by veteran receiver Joey Galloway is a one-year package with a base salary of $1.15 million.
The contract is for more than the minimum for a player of Galloway's experience, which indicates that Galloway had some negotiating leverage. He had also visited with the Bills and the Steelers in free agency.
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Pretty low risk and high reward. 1.15 is peanuts these days.
Yeah, but the 1.15 being greater than the vet min, that means it counts more significantly against the cap. Even if the difference is only a couple hundred grand (did I just say that? Only??), the difference in salary cap hit (in my limited understanding) is .75 mil or more (I think vet min counts as 375,000 against the cap but any contract greater than that counts at essentially face value, at least for a 1 year deal), so even though they are only paying him slightly more than the vet min, the salary cap hit is much more significant. I could be wrong on that, but that's my take.
The general view is correct Rob. The only thing that is incorrect is that the Vet min counts 517k against the cap. Though Galloway pushes a 450k contract out of the top 51(which are the only ones counted against the cap), essentially causing a loss of 650k against the cap. The hit is a big one about as much as the first year contract one of the second round picks will count against the cap.
where you get his contract info from? did his agent or pr company release it ? are these numbers competely accurate?
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