Fisher will catch $10 million within five days
Posted by Mike Florio on July 26, 2013, 3:02 PM EDT
In the end, the first pick in the 2013 draft cried uncle on the issue of offsets. In exchange, he’s getting a ton of money up front.
Per a league source with knowledge of the deal, Eric Fisher will receiver $10 million in the next five days from the Chiefs under the contract he signed within the past hour.
(Only George Clooney can get $10 million faster than that.)
Not many teams have a habit of turning over that much cash that quickly. Sure, players “earn” their signing bonuses upon signing the contracts. But it’s one thing to sign the paper and quite another thing to collect it.
The $10 million to be paid in five days is part of a $14.518 million signing bonus. The rest of the money will be paid in full by February 15, 2014.
Fisher also has minimum base salaries ($405,000 in 2013, $495,000 in 2014, $585,000 in 2015, and $675,000 in 2016) along with training-camp roster bonuses of $918,659 in 2014, $1,837,318 in 2015, and $2,755,977 in 2016.
The deal is fully guaranteed for injury, skill, and salary cap. And while it includes offset language, first-round offensive linemen rarely if ever are cut within four years. (Even Tony Mandarich, the biggest offensive lineman bust in league history, made it three years with the Packers.)
So Fisher traded a term that most likely will be irrelevant for him in exchange for $10 million now, $4.518 million soon, and the ability to double dip in the highly unlikely event he gets cut at some point between the start of training camp and the start of a regular season.