Fantasy Football Cafe Forum

by **Amazinz** » Wed Oct 12, 2005 6:02 pm

ProFootballTalk wrote:GIANTS SIGN SHOCKEY TO LONG-TERM DEAL

Profootballtalk.com has learned that the Giants have signed tight end Jeremy Shockey to a long-term deal that makes him the highest-paid tight end in the NFL.

The deal ties Shockey to the Giants through 2011, and replaces the final two years (2005 and 2006) of his rookie deal.

Shockey gets $3 million to sign and a 2006 $7.5 million roster bonus, which is fully guaranteed for injury. He also receives a $250,000 reporting bonus in 2006, pushing the total guaranteed bonus money, for practical purposes, to $10.75 million.

However, the bonus money is offset by steep drops in his 2005 and 2006 salary. His 2005 base, for example, drops from $1.723167 million to $900,000. His base salary in 2006 is reduced from $2.071415 million to $950,000.

The new money, then, over the first two years is $8.805 million, and it could drop to $8.505 million (more on that later).

In 2007, Shockey gets a $1 million roster bonus, a $150,000 reporting bonus, and a salary of $850,000.

In 2008, he receives a $500,000 reporting bonus and a salary of $2.2 million.

In 2009, the salary is $3.025 million, with a $500,000 roster bonus.

In 2010, the salary moves to $3.825 million, with another $500,000 roster bonus.

In 2011, he'll receive $4.508332 million in salary, and a $500,000 roster bonus.

The total value of the contract is $30.183332 million, with new money of $26.388750.

The deal, however, also contains so-called "de-escalators," which could reel in his salary by $300,000 per year from 2006 through 2011 if he fails in the preceding season to put up Pro Bowl-caliber numbers.

So the total package could be reduced by up to $1.8 million, in $300,000 increments.

Even without the $1.8 million in money that could fall out of his salary figures, the new money is a hair under $24.59 million, and Shockey's per year new money average is $4.91 million -- more than the new money averages for all other recent tight end deals, including contracts signed by Tony Gonzalez, Antonio Gates, Alge Crumpler, Todd Heap, and Randy McMichael.