Post: Redskins, Portis Agree

Jake · Post by **Jake** » Mon Mar 01, 2004 4:04 pm

http://www.washingtonpost.com/wp-dyn/ar ... 4Mar1.html

New From The Post
Redskins, Portis Agree on 8-Year, $50.5 Million Deal

By Nunyo Demasio
Washington Post Staff Writer
Monday, March 1, 2004; 3:05 PM

Denver Broncos running back Clinton Portis, who is expected to be traded to the Washington Redskins on Wednesday, agreed with the Redskins today to an eight-year, $50.5 million contract, according to a source familiar with the deal. The contract, one of the highest for a running back in NFL history, includes a $17 million combined bonus.

Portis is expected to sign the contract Wednesday, the start of free agency, when the trade under which the Redskins will send Pro Bowl cornerback Champ Bailey and a second-round pick in April's NFL draft to Denver can be officially announced.

"He hasn't signed the contract yet," Drew Rosenhaus, Portis's agent, said in a telephone interview.

According to an NFL source, Portis initially requested a signing bonus of $20 million, causing the Redskins to put contract talks on the back burner. Last week, the Redskins said they planned to sign Portis to a new deal after next season. But talks picked up again over the weekend, leading to today's agreement.

Redskins officials at Redskins Park at Ashburn refused to comment on the Portis deal.

Portis, a two-year veteran, became available after hinting at the Pro Bowl last month that he would hold out without a new contract. Portis had two years remaining on his rookie deal -- $380,000 in 2004 and $455,000 in 2005. Denver coach Mike Shanahan, who has a policy against renegotiating contracts with more than one year left, subsequently put Portis on the trading block, with an initial asking price of a first-round and second-round pick.

Meanwhile, Bailey's agent, Jack Reale, is still going over details of a new contract with Denver and hopes to complete an agreement by tonight.

Rosenhaus is also the agent for Tennessee Titans defensive end Jevon Kearse, an unrestricted free agent who the Redskins are pursuing. According to a source familiar with the situation, the Redskins are a leading candidate to sign Kearse, who is seeking a signing bonus of at least $18 million.

Fios · Post by **Fios** » Mon Mar 01, 2004 4:23 pm

Stupid questions: I can never remember this. Are signing bonuses pro-rated over the length of a contract and do they count against the salary cap? What is meant by a "$17 million combined bonus"?

BigCarter28 · Post by **BigCarter28** » Mon Mar 01, 2004 4:37 pm

if we also sign kearse how the hell are we going to afford any other quality Defensive players???

skinsfaninroanoke · Post by **skinsfaninroanoke** » Mon Mar 01, 2004 4:56 pm

Yes - the bonus is prorated over the length of the contract and it does count against the cap.

It is probably two or three tiered bonus wise - in other words a roster bonus - if CP is on the team at the time the date rolls around he gets that part of the bonus, if I am right. Plus they may be talking incentives too, some of which will and some of which won't count against the cap.

I don't know that that offers any breaks against the cap having the bonus split like that.

Figure right now that this contract will be backloaded guys - before anyone panics there will probably be 3-4 years where his contracted salary will be 10 mil a year. His contract salary cap hit will probably be very low over the next few years - the bonus is what these guys want, the length of contract to prorate that bonus is what the Skins want, and the agents want the big figure for figuring their commission.

Portis gets 17 mil up front - the Skins only pay 2 and some change each year he is here.

He could care less if he only gets vets minimum now - he hit the big score

He might only cost us 3-4 million this next season.

Don't panic - these guys are experts at tweaking the cap.

Fios · Post by **Fios** » Mon Mar 01, 2004 5:07 pm

Thank you sir

gibbsfan · Post by **gibbsfan** » Mon Mar 01, 2004 5:11 pm

skinsfaninroanoke wrote:Yes - the bonus is prorated over the length of the contract and it does count against the cap.

It is probably two or three tiered bonus wise - in other words a roster bonus - if CP is on the team at the time the date rolls around he gets that part of the bonus, if I am right. Plus they may be talking incentives too, some of which will and some of which won't count against the cap.

I don't know that that offers any breaks against the cap having the bonus split like that.

Figure right now that this contract will be backloaded guys - before anyone panics there will probably be 3-4 years where his contracted salary will be 10 mil a year. His contract salary cap hit will probably be very low over the next few years - the bonus is what these guys want, the length of contract to prorate that bonus is what the Skins want, and the agents want the big figure for figuring their commission.

Portis gets 17 mil up front - the Skins only pay 2 and some change each year he is here.

He could care less if he only gets vets minimum now - he hit the big score He might only cost us 3-4 million this next season.

Don't panic - these guys are experts at tweaking the cap.

i,m hoping they will spread it out on the defensive guys too spread it out so the team will be able to get other players.
from the looks of things i think we will be ok as well.
i,m with ya rich on this one.

ii7-V7 · Post by **ii7-V7** » Mon Mar 01, 2004 8:27 pm

Its definetly prorated, but I'm pretty sure that it doesn't count against the cap. Only salary counts against the cap.

Chad

superman51 · Post by **superman51** » Mon Mar 01, 2004 8:40 pm

guys,
been reading your posts here for quite awhile. just didn't want to post until i had the time to totally devote myself to it. im as die hard as the rest of you donks and i say this portis deal is a good thing. 2nd round pick? oh well. just remember that coach went years and years w/ few draft picks and we ended up fine all the time. i have taken the philosophy of "don't question coach joe" we now have an elite back. losing bailey was inevitable. we got a stud out of him and we're gonna ride him. my only concern is will he hold up? let's get back to slapping people around like we were accustomed to doing in the first gibbs era.

BossHog · Post by **BossHog** » Mon Mar 01, 2004 8:42 pm

Whooooooo!

Amen brother.

And welcome to the board.

superman51 · Post by **superman51** » Mon Mar 01, 2004 8:49 pm

glad to be aboard. wheres the monk hall of fame guy? i can barely talk about that w/out getting my blood pressure way up. before rice there was monk. man i live for redskins football. how many days til training camp?

BossHog · Post by **BossHog** » Mon Mar 01, 2004 8:52 pm

superman51 wrote: how many days til training camp?

Too many.

glad to be aboard. wheres the monk hall of fame guy? i can barely talk about that w/out getting my blood pressure way up. before rice there was monk. man i live for redskins football.

tcwest is never very hard to find around here... and he'd be the monk guy.

Always happy to have another burgundy and gold bleeder here at theHogs.net!

hailskins666 · Post by **hailskins666** » Mon Mar 01, 2004 9:15 pm

Its definetly prorated, but I'm pretty sure that it doesn't count against the cap. Only salary counts against the cap.

chad, EVERY penny counts against the cap. the bounuses are divided by the number of years of the deal. example - 5 mil signing bonus, on a 5 year deal. your cap hit would be 1 mil a year PLUS what ever salary the player makes for the year, to come up with the total cap hit for the season.

skinsfaninroanoke · Post by **skinsfaninroanoke** » Tue Mar 02, 2004 4:30 am

absolutely hs666