Green Bay Packers wide receiver Greg Jennings’ three-year contract extension included $26.35 million in new money for an average annual worth of nearly $9 million, according to Tom Silverstein of the Milwaukee Journal-Sentinel. Per the report, Jennings was given an $11.25 million signing bonus and his $5 million base salary for this season has been guaranteed. Under his old contract, Jennings was due just $535,000 in 2009. He received a total of $16.25 million in guaranted money with base salaries of $1.85 million in 2010, $2.7 million in 2011 and $3.885 million in 2012. According to Silverstein, Jennings can earn as much as an additional $400,000 between 2010 and 2012 in per-game roster bonuses and $300,000 workout bonuses are included for each offseason in 2010, 2011 and 2012. Jennings also can make a total of $2.95 million more through escalator clauses. And Jennings’ new salary-cap figure is $8.154 million, which leaves the Packers $21.5 million under the NFL’s salary cap. No matter how you slice it, it’s a nice chunk of change for a promising young receiver. Plus, Jennings is scheduled to be a free agent in 2013 during what should be the prime of his career.
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