cutthemdown
03-17-2007, 03:10 PM
WARREN TOOK A BIG HAIRCUT
There were reports a couple of weeks back that Broncos defensive tackle Gerard Warren restructured his contract prior to the start of free agency.
Specific details (to our knowledge) weren't reported at the time. We're now told that, among other things, the Broncos did not pay a $3 million option bonus that was owed to Warren in early March.
Because the contract did not include a non-exercise fee for the option bonus, the Broncos merely opted not to pay the money, with the only consequence being that another year wasn't tacked onto the back end of the deal.
Many contracts containing an option bonus also include a non-exercise fee, which requires the team to pay the same amount of the option bonus even if the team doesn't opt to pay the bonus.
Warren's 2007 salary also has been slashed to $595,000. In 2008, the number increases to $4 million.
There were reports a couple of weeks back that Broncos defensive tackle Gerard Warren restructured his contract prior to the start of free agency.
Specific details (to our knowledge) weren't reported at the time. We're now told that, among other things, the Broncos did not pay a $3 million option bonus that was owed to Warren in early March.
Because the contract did not include a non-exercise fee for the option bonus, the Broncos merely opted not to pay the money, with the only consequence being that another year wasn't tacked onto the back end of the deal.
Many contracts containing an option bonus also include a non-exercise fee, which requires the team to pay the same amount of the option bonus even if the team doesn't opt to pay the bonus.
Warren's 2007 salary also has been slashed to $595,000. In 2008, the number increases to $4 million.