By Brad BiggsBears general manager Jerry Angelo never used the term, but we'll go ahead and introduce it.
The Bears married themselves to Julius Peppers with his blockbuster contract in free agency last Friday, for a term of at least three years.
Angelo has called his relationship with coach Lovie Smith a marriage, and in this instance the McCaskeys have hitched up with Peppers, their sleek new pass rusher. That's the reality of the $91.5 million, six-year contract he received, far and away the largest contract in franchise history.
Peter King of SI.com and Pro Football Talk have detailed how only $19.9 million of what is supposed to be $42 million is truly guaranteed for Peppers, who stands to earn $20 million this season. That is accurate. The Bears could part ways with Peppers after this season and not owe him another nickel, provided he's not injured.
That won't happen, though. As one league insider said, the deal needs to be viewed as a $40.5 million, three-year contract.
Photo: Julius Peppers' contract makes it uneconomical for the Bears to release him after only one season. (AP)
Peppers is 30. For him to collect the base salary of $12.9 million that
is due in 2013 when he will be 33, he will need to be playing at an
elite level. But if he doesn't perform at an All-Pro level this season,
the Bears are not going to wash their hands of him, whether Angelo and
Smith are still running the show or not.
First, the club has made it clear to Peppers and his agent Carl Carey that they intend for him to receive the $42 million "guaranteed" that is in the deal. The reason that full amount is protected by injury only is primarily because of cash flow. Had the Bears guaranteed the deal against skill, cap and injury, they would have had to fund that amount immediately.
Peppers wouldn't have cashed in all at once, but the Bears would have been forced to write the check to what in essence is an escrow account because of league rules. That impacts cash flow, and it's why other deals are written this way.
Consider the case of defensive tackle Tommie Harris regarding guaranteed money. He signed his four-year extension in July 2008 that had a maximum value of nearly $40 million. Only $10 million was guaranteed. The Bears could have pulled the plug on Harris after his less-than-stellar 2008 season. They didn't. He collected a $6.67 million roster bonus last offseason and he will earn a $2.5 million roster bonus in June.
The Bears didn't sign Peppers as a one-year fix and they won't cut him after one season for the same reason the Carolina Panthers didn't franchise tag him again for this year. The cost would have been $21.5 million for one season. The Bears aren't going to pay $20 million for Peppers for one season, not when for another $20.5 million they will be able to have him for two more years after this.
If you're concerned about the future of the front office and the coaching staff, consider it a marriage between ownership and the player, because that's what it is.
Could they send him packing after this season? Yes. In reality, will it ever happen? No.
Here is how the Peppers deal breaks down:
2010
$6.5 million signing bonus
$900,000 base salary
$12.5 million roster bonus
$100,000 workout bonus
$1.5 million incentives
2011
$900,000 base salary
$10.5 million roster bonus
$100,000 workout bonus
$1.5 million incentives
2012
$8.9 million base salary
$100,000 workout bonus
$1.5 million incentives
2013
$12.9 million base salary
$100,000 workout bonus
$1.5 million incentives
2014
$13.9 million base salary
$100,000 workout bonus
$1.5 million incentives
2015
$16.5 million base salary
First, the club has made it clear to Peppers and his agent Carl Carey that they intend for him to receive the $42 million "guaranteed" that is in the deal. The reason that full amount is protected by injury only is primarily because of cash flow. Had the Bears guaranteed the deal against skill, cap and injury, they would have had to fund that amount immediately.
Peppers wouldn't have cashed in all at once, but the Bears would have been forced to write the check to what in essence is an escrow account because of league rules. That impacts cash flow, and it's why other deals are written this way.
Consider the case of defensive tackle Tommie Harris regarding guaranteed money. He signed his four-year extension in July 2008 that had a maximum value of nearly $40 million. Only $10 million was guaranteed. The Bears could have pulled the plug on Harris after his less-than-stellar 2008 season. They didn't. He collected a $6.67 million roster bonus last offseason and he will earn a $2.5 million roster bonus in June.
The Bears didn't sign Peppers as a one-year fix and they won't cut him after one season for the same reason the Carolina Panthers didn't franchise tag him again for this year. The cost would have been $21.5 million for one season. The Bears aren't going to pay $20 million for Peppers for one season, not when for another $20.5 million they will be able to have him for two more years after this.
If you're concerned about the future of the front office and the coaching staff, consider it a marriage between ownership and the player, because that's what it is.
Could they send him packing after this season? Yes. In reality, will it ever happen? No.
Here is how the Peppers deal breaks down:
2010
$6.5 million signing bonus
$900,000 base salary
$12.5 million roster bonus
$100,000 workout bonus
$1.5 million incentives
2011
$900,000 base salary
$10.5 million roster bonus
$100,000 workout bonus
$1.5 million incentives
2012
$8.9 million base salary
$100,000 workout bonus
$1.5 million incentives
2013
$12.9 million base salary
$100,000 workout bonus
$1.5 million incentives
2014
$13.9 million base salary
$100,000 workout bonus
$1.5 million incentives
2015
$16.5 million base salary
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Now were talking 'cause the last time i saw a defense that could potentially dominate the NFL with talent like this were the '85 Bears ! :-)_
Signing Peppers is pretty much Jerry Angelo's and Lovie's last stand. These are their players. The Bears' defense are made up of players mostly in their 30s: Urlacher, Alex Brown, Lance Briggs, Peanut Tillman, and Peppers. Tommie Harris isn't quite 30 but he plays like he is. So the Bears window to win the Super Bowl with all their high priced defensive players is down to 1 or 2 years. After that its back to square one. I don't see the Bears crossing their fingers on a rookie free safety they find in the draft with this elder group. Darren Sharper come on down.
Anybody with a bit of sense knows that the Bears are not releasing Peppers after one year! Why do reporters keep harping on this!