You know the drill. Initial reports of receiver Stevie Johnson’s deal put the guaranteed money at $19.5 million. The numbers are now in, and the true guarantee is considerably lower.
Per a source with knowledge of the contract, Johnson will get $11 million in fully guaranteed money upon signing the contract. The payment comes from a signing bonus of $8.5 million and a fully guaranteed base salary of $2.5 million.
The deal also has a non-guaranteed 2013 option bonus of $4.5 million, which if exercised adds a fifth year onto the contract. If not exercised, his base salary in 2013 becomes $7.05 million, $6.75 million of which will be guaranteed for injury only. If the option bonus is exercised, Johnson’s base salary for 2013 will be $2.55 million, which is guaranteed for injury only.
So if Johnson suffers a career-ending injury in 2012 or 2013, he’ll receive $18.05 million guaranteed. Absent a career-ending injury, he’ll get $11 million fully guaranteed.
The deal also includes base salaries of $3.65 million, $5.5 million, and $5.85 million for 2014, 2015, and 2016, respectively, along with a roster bonus of $1.75 million in 2014 and $250,000 in 2015.
Johnson also is eligible for a $100,000 workout bonus in 2012, which shoots to $275,000 in each of the final four seasons of the deal.
Cap numbers for the first two years are a relatively low $4.3 million and $5.65 million. In 2014, when the new TV money kicks in, the number goes to $8.5 million, $8.85 million, and $8.95 million, respectively, in the final three seasons of the contract.