The deal is done. Now, the terms are coming in.
First, the money.
Per a source with knowledge of the contract, cornerback Darrelle Revis has signed a six-year, $96 million deal with the Buccaneers.
In an intriguing twist, it’s a pay-as-you-go, $16 million annual contract. None of it is guaranteed.
It therefore becomes a one-year deal with a series of five one-year, team-held options. If the Bucs choose to keep Revis, they’ll pay him $16 million per year for the privilege of doing so. If/when the Bucs decide that Revis isn’t earning his keep, the Bucs can cut him.
As a practical matter, it means that Revis will earn $16 million for this year, and probably $16 million for 2014. Beyond that, if Revis isn’t performing at a high level, the Buccaneers will have to decide whether to cut him or to try to re-do the deal to reflect his level of performance.
Then there’s the possibility that Revis will play at a very high level, and decide after a year or two that he deserves greater security.
Which could result in, yes, a holdout.
UPDATE 5:21 p.m. ET: Manish Mehta of the New York Daily News reports that the $16 million per year comes from a $13 million base salary, a $1.5 million roster bonus, and a $1.5 million workout bonus.