Earlier when I posted that star wide receiver Greg Jennings had his contract extended through 2012, the exact details of Jennings’ contract weren’t known. Now they are, and Jennings made out. In his contract, Jennings can earn $26.35 million or basically a little under $9 million a year.
As part of the extension, Jennings was given $16.25 million in guaranteed money, including an $11.25 million signing bonus, which he received immediately. In addition, his 2009 base salary of $5 million is guaranteed.
Jennings base salaries for the next four years:
2009: $5 million
2010: $1.85 million
2011: $2.7 million
2012: $3.885 million
Signing bonus: $11.25 million
For a young wide receiver, that is a lot of cash. Thompson structured the deal so that it’s frontloaded, meaning that the end of the contract is worth less than the first part, helping the cap. Jennings has more opportunities to make more money through bonuses:
In ’10-’12 , he can earn up to $400,000 through a roster bonus tied to the number of games in which he is on the 45-man game day roster. He gets $25,000 for every game in which he appears. He also has $300,000 workout bonuses each of the next three off-seasons.
Finally, he can earn $2.95 million over the final three years of the deal through escalators tied to playing time and team performance. He can earn a maximum of $700,000 in 2010, $1 million in ’11 and $1.25 million in ’12.
Jennings, like Rodgers, now has a huge contract on his head to live up to. I don’t doubt he will be able to, as he has been a gamer in his first few years in the league. As he enters his prime, he gets a contract he deserves and sets himself up for an even bigger one once he becomes a free agent at age 29.