Maddox unlikely to see much of $ from his contract extention

[AGENT]

I THOUGHT GUYS MAY ENJOY THIS!!


Tuesday, June 15, 2004

By Ed Bouchette, Pittsburgh Post-Gazette


Peter Diana, Post-Gazette
Steelers quarterback Tommy Maddox did not score as big as first indicated with the new contract he signed.
Click photo for larger image.



By the numbers
Here are the numbers for Steelers quarterback Tommy Maddox contract extension from the 2004 season through the 2007 season.

Signing Bonus: $2 Million ($500,000 paid immediately, $500,000 in September, $500,000 in October, $500,000 in November.)

Annual salaries: 2004 -- $750,000; 2005 -- $750,000; 2006 -- $900,000; 2007 -- $1.3 million.

Roster bonus: 2006 -- $100,000

Annual Incentives

Playing Time: 55 percent of offensive plays -- $25,000; 60 percent -- $50,000; 65 percent -- $100,000; 70 percent -- $150,000; 75 percent -- $200,000. Note: If Maddox participates in 50 percent or more of the Steelers offensive plays in 2004, a new schedule of playing time incentives will be triggered: 55 percent of offensive plays -- $100,000; 60 percent -- $200,000; 65 percent -- $300,000; 70 percent -- $500,000; 75 percent -- $750,000

Passer rating: Between 75-79 -- $25,000; 80-84 -- $50,000; 85-89 -- $75,000; 90-94 -- $100,000; 95-99 -- $150,000; 100-up -- $200,000

Interception percentage: Between 2.6-2.7 -- $50,000; 2.3-2.5 -- $75,000; 2.1-2.2 -- $100,000; 2.0-under -- $150,000

Passing yards: Between 2,000 and 3,000 -- $50,000; 3,000 or more -- $100,000

Touchdown passes: 15 or more -- $75,000

Honors: Pro Bowl -- $100,000; First team All-Pro -- $100,000; Second team All-Pro -- $50,000



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Quarterback Tommy Maddox will be fortunate to earn half of the $14 million contract he signed with the Steelers June 7, according to figures obtained by the Post-Gazette.

Not much was changed from Maddox's previous contract that he signed in 2002 and was to run through 2006.

Under what basically is a one-year contract extension through 2007, Maddox would have to remain the Steelers' starting quarterback -- and keep rookie Ben Roethlisberger on the bench for the next four years -- to have a chance at earning more than $7 million over the life of the new deal.

Even then, he would have to make the Pro Bowl, earn first-team All-Pro and have passer ratings better than 100 each season to approach the maximum earnings power in his contract.

If he reached those incentives, the total payout would be $11.15 million and not the $14 million that agent Vann McElroy estimated as the contract's worth in a "mix of salary and easy incentives."

The new deal keeps Maddox's salaries the same as in the previous contract, except it adds an extra year onto the contract, 2007, when the quarterback will make $1.3 million. His other salaries remain the same -- $750,000 this year and in 2005 and $900,000 in 2006 (with a $100,000 roster bonus).

The Steelers also gave him a $2 million signing bonus, $500,000 of it up front and $1.5 million deferred between September and November.

Besides the signing bonus and the added year, the contract contains one more change that was intended to give Maddox more money if he remains the team's starting quarterback beyond this season. New playing time incentives would kick in for the 2005 season if Maddox takes at least 50 percent of the snaps this season. All other incentives remain the same as the previous deal.

Under his current contract, Maddox earns between $25,000 and $200,000 on a sliding scale for taking between 55 percent and 75 percent of the snaps. If the new provision takes place in 2005, he could earn between $200,000 and $750,000 in playing time incentives.

Obviously, Maddox won't earn any of that if Roethlisberger is the starting quarterback. Maddox would earn his salary, the roster bonus in 2006 and the signing bonus.

His salaries and one roster bonus in the next four seasons are worth $3.8 million. Coupled with the signing bonus, that makes the contract technically worth $5.8 million for four years, or an average of $1.45 million annually.

Last season, Maddox earned $650,000 in salary, $25,000 in a roster bonus and $50,000 in a workout bonus. He picked up another $400,000 in performance incentives: $200,000 for playing at least 75 percent of the time on offense, $100,000 for surpassing 3,000 yards passing, $75,000 for throwing at least 15 touchdown passes and $25,000 for having a passer rating of at least 75.

That meant that Maddox was the highest-paid quarterback on the team last season. Backup Charlie Batch received $1 million -- $500,000 of that in a signing bonus. Maddox took home $1,125,000. Batch is scheduled to earn more in salary than Maddox this season -- $1 million to $750,000 -- but the $2 million signing bonus coupled with the incentives will move Maddox above him.

Neither Maddox or Batch will make more than Roethlisberger, though. By the time Roethlisberger reports to training camp, provided he does not hold out, the rookie quarterback should be enriched by a signing bonus that pays him $8 million or more.

[steelerfan04]

4 years is a long time for a guy who probably won't be starting past this year.