When the Broncos traded the 2010 first-round pick they acquired from Chicago as part of the Jay Cutler deal in order to snag cornerback Alphonso Smith with the fifth overall pick in round two of the 2009 draft, the Broncos necessarily put themselves in position to get a player for less money than a first-round pick costs.
Then again, they had to pay out that money one year sooner than they otherwise would have.
Per a league source, the initial check to Smith will be made out for "Two million one hundred fifty thousand and 00/100 dollars." (Actually, it will be a lot less than that, thanks to Uncle Sam and the state of Colorado.)
Smith also will earn the minimum base salaries on his four-year deal, and he's eligible for a one-time playing-time incentive of $750,000, which is guaranteed for injury.
Smith also can earn a $50,000 workout bonus in 2011, and a $130,000 workout bonus on 2012. Finally, he'll get an extra $100,000 if he's the 2009 defensive rookie of the year.
$2.15 million signing bonus for Smith
Posted by Mike Florio on July 26, 2009 2:24 PM ET
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Latest stories in: Contracts, Denver Broncos, Latest News and Rumors, NFL Mobile Exclusives - Transactions, Top Stories
Latest stories in: Contracts, Denver Broncos, Latest News and Rumors, NFL Mobile Exclusives - Transactions, Top Stories
Coach McDaniels and GM Xanders along with Mike Bluem have just signed the best CB of 2009. Phonze will be a staple of the Bronco DB's for a LONG time. Great work guys.
its still sweet
Denver traded THEIR OWN pick in the next draft for the Seahawks pick. :)
Denver traded their 2010 1st round pick, not the Chicago one!
Please correct.
I guess the Broncos ended up saving even more money because the draft pick is Denver's own original 2010 1st rounder, which has a very strong chance of being a top-5 pick. Yet another example of Little Joshie McCheese and his ineptitude.