89 gets extension

It seems large contracts are normally backloaded. Does anyone have a concern that Smith's contract may set a precident?
( apologies for veering off of the Delhomme / Carr tangent )

 

no.


plus, Deion Sanders rule. Still means big bonus up front, big salary out back, just a little more balance

 

PFT

SMITH'S DEAL: SIX YEARS, $43.85 MILLION

Adam Schefter of NFL Network reports that the contract signed by receiver Steve Smith with the Carolina Panthers includes $32.3 million in new money, pushing the total value of his six-year contract to $43.85 million.

It works out to an average of $7.3 million per year, and it puts him behind only Colts receiver Marvin Harrison on the list of wideout wages.

Per Schefter, $11.8 million of the new money will be paid over the next three seasons, which translates to a haul of $23.45 million. Many league insiders look to the value of the first three years of a contract because, in most situations, the cap hit resulting from cutting a player less than three seasons into the deal is too high. (The primary exception arises where the deal has a large option bonus in year two, which means that the team must choose to continue the relationship after the first year before the money in years two and three become relevant.)

The final three years of the contract will pay $20.5 million to Smith.

In 2007, Smith will receive a signing bonus of $9.3 million and a salary of $1 million. He previously was scheduled to earn $3.15 million in base salary.

In 2008, he is due to receive a $6 million roster bonus and $1.75 million in base salary. The roster bonus is fully guaranteed against injury, but not for skill. He previously was scheduled to earn $4.1 million in base salary.

In 2009, Smith is due to earn a $2.0 million roster bonus and a base salary of $3.4 million. He previously was scheduled to receive a base salary of $4.3 million.-

 

Just to veer of Smitty's signing briefly...

He bought one of Ric Flair's wrestling robes!

Smith signs extension
New contract worth $45 million over the next six years
By Darin Gantt · The Herald - Updated 05/09/07 - 12:43 AM


CHARLOTTE -- Steve Smith was already rich and the Carolina Panthers' best offensive player.

Now that he's finalized a new contract extension which will keep him with the team through the 2012 season, he's moving closer to becoming an institution.

And befitting the new deal announced Tuesday (which will pay him around $45 million over the next six years), he's even upgraded his wardrobe to reflect his status. If you want to be the man, you've got to at least look like the man.

At a charity auction Sunday night, Smith paid $10,000 for a bright red, floor-length, jewel-encrusted robe worn by the man who previously stood for flash and drama and athletic excellence in Charlotte -- heavyweight wrestling champion Ric Flair. Smith could have afforded it anyway, but knew the deal was imminent, and looked like a kid at Christmas.

"It's pretty nice," Smith said, with a boyish grin. "You might see it in training camp, possibly."

The seventh-year wide receiver has become the face of the Panthers. Some day perhaps, Julius Peppers will sign a bigger contract, but won't hold the grip on the fans Smith does.

"He's a tremendous player and he's our kind of person," general manager Marty Hurney said. "He's a force in the community. He does a lot of things that people don't know about. He's just the kind of person and player we want here.

"When you have the opportunity to have a guy like that come in as a Panther and now, hopefully, finish as a Panther, that's unique and something we'd like to try to accomplish with people who are productive for us on the field and good members of the community."

Smith had to go the junior college route just to play Division I football, and was a largely unknown third-round pick when he came into the league.

But he showed quickly what he could do, earning Pro Bowl honors as a rookie return specialist, emerging as the Panthers' most dynamic weapon. He also became a scourge to many after a film-room fight with a teammate the following year, which cost him a one-game suspension.

His maturation followed two parallel paths since, professional and personal, and he knows many struggle to justify one with the other. But he also knows he has supporters -- starting at the top -- who believe in him.

"From day one the thing that strikes me about Steve Smith is he wants to do the right thing, and he has," Hurney said. "He has matured just like we all do. He came in as a young kid. He works very hard at it, both on the field and off the field, and he doesn't make a big deal of it. He's always active. He loves kids and he does a lot for kids.

"When he steps on the field or he comes in here to the stadium to practice, he brings that energy every day. He wants to be the best. That's what you love about him. You want players like that, and those are the kind of players that become leaders."

Smith turns 28 later this week, and laughed when asked about his progression. He grew up poor in Los Angeles, working and fighting his way up and out. There are days he shakes his head, unable to believe he's really here.

"It's been up and down. It's been a wild roller-coaster," Smith said. "God has blessed me to do things that I never imagined. I'm living out my dream. A knucklehead from L.A., all of a sudden now, being a father, being a husband, just all of those things. Sometimes I just sit at home in the morning and look around. To live in a house. To drive a car. I didn't get my license until I was 22.

"It's just that feeling that you are waiting for somebody to wake you up. But I know nobody is going to wake me up because I'm up already. It's great. I'm loving it. I'm taking it all in, and I'm grateful for it."

Smith talked about hoping to become a Hall of Fame receiver, and doing it here. It's a big goal, one he couldn't have imagined. While enjoying the fact he's one of the five highest-paid receivers in the game, he knows someone will come along and sign for more. But the difference now is that doesn't chafe him. It did before, when he pouted and felt disrespected in 2003, before the team signed him to a six-year, $26 million deal. (Does this mean that he loses his chip on his shoulder and doesn't play as well for us now? Or does this mean he has to increase his order for Tiger Balm?)

"I understand that in the next couple of years there is going to be another guy that puts up a big number," Smith said. "But my wife, my agent (Derrick Fox) and I discussed that. It's not about what the other guys are doing. It's really about what we are comfortable with.

"With this contract, we are very comfortable. This is something that is not really for me, it's more to be smart and take care of my kids' kids, and that's my main goal."

There is that one other thing, the thing that's obvious to those who see Smith on a daily basis. He practices the way he plays. When there's a ball in the air, Smith only knows one speed.

And that's what makes the Panthers think they're one step closer to their goal.

"The most important thing to Steve, and he talks about it all the time, is helping us win a Super Bowl," Hurney said. "He wants to win championships.

"He's matured, but from day one, he's always had that desire to be the best and to do the right thing."



Darin Gantt | [email protected]

 

Normally I'd think spending $10k on a jewel encrusted robe would be stupid, but the fact that's it's Ric Flair's is just hilarious.

 

It was charity. He gave a donation, and got the robe as a thank you momento.

 

$10 k for charity when you just got a $45,000,000 contract??? What a cheapskate!

Just kidding.

It's a takeoff on the recent Vick donation