As expected, the Buccaneers have agreed to terms with receiver Vincent Jackson, according to a source with knowledge of the deal.
It’s a five-year deal worth a grand total of $55,555,555. (I just realized that’s ocho cincos.)
He gets $26 million fully guaranteed, via a $2 million roster bonus in 2012 and a fully-guaranteed $11 million base salary in 2012. For 2013, he gets a $13 million base salary, fully guaranteed.
The last three years aren’t fully guaranteed, with a $10 million base salary in 2014, a base salary of $9,777,777 in 2015, and a base salary of $9,777,778 in 2016.
And so Jackson will get an average of $13 million over the next two years. The Chargers could have kept him in 2012 for $13.7 million.
That said, it’s a lot of money for a 29-year-old receiver. And if he doesn’t have a pair of big seasons, the $10 million due in 2014 may never be paid.