Shockey takes a $1.7 million haircut

The Saints cut tight end Jeremy Shockey last month, avoiding a base salary of $4.7 million.  Shockey signed a new deal last week, and he’ll make a lot less than that.

Pat Yasinskas reports, and we’ve confirmed, that Shockey will receive a base salary of $3 million with the Panthers in 2011.  Of that amount, $1 million is guaranteed fully, for skill, injury, and salary cap.  Thus, if he’s cut for any reason, he still gets $1 million.  (If, of course, there’s a season.)

Shockey also has a roster bonus of $812,500.  Per Yasinskas, Shockey gets the money if he’s on the opening day roster.

At that point, of course, the other $2 million in base salary essentially becomes guaranteed, if the new CBA continues the “termination pay” concept under the current labor deal.

In Carolina, Shockey is reunited with offensive coordinator Rob Chudzinski, who was a member of the Miami staff when Shockey played for the Hurricanes.

25 responses to “Shockey takes a $1.7 million haircut

  1. Honestly, I’m surprised he got a deal for this much.

    This is a nice job by Rosenhaus or whoever represents him.

  2. He wanted very badly to go to the Dolphins, the Dolphins needed tight end help and were interested, the Dolphins brought him in for a workout and a physical, and then the Dolphins declined to make him an offer.

    You do the math. Great signing, Carolina.

  3. That’s one expensive haircut.

    Maybe the losers on this site need to ignore bracts hair before it takes over there lives….

  4. That’s a lot of money for a marginal talent… attitude problem… substance abuser… chronically injured… slow… tight end who doesn’t like to block.

    Guess we know why they’ve got the #1 pick.

  5. “Shockey also has a roster bonus of $812,500. Per Yasinskas, Shockey gets the money if he’s on the opening day roster.”

    That sounds more like he has a $62,500 roster bonus for each game he’s on the active roster, or potentially an extra $1 million, even. Since he was active for 13 games last year, $62,500 x 13 = $812,500 would be considered “likely to be earned” heading into the season.

  6. we now know that the panthers wont take a qb with there first pick of the draft. they will be taking andrew luck next year with the first pick.

  7. Lots of dough for a douche who had about 400 yards and 3 TDs last year. The owners need to show some restraint and not spend money on marginal players.

  8. Jamie says:
    Mar 7, 2011 6:13 PM
    I don’t get the joke? Haircut/paycut? I don’t get it…

    To you and the 90 people who gave you a thumbs up- you’ve really never heard the term “taking a haircut” when someone takes less money at a new job?

    Wow, you must live under the same rock as those dudes in the new geico commercials.

  9. Can we stop it already with the (if there is a season) Crap? Does every article require this? Should we also say see ya tomorrow unless a piano falls on me? Holy Buckets man!

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