The numbers are trickling out on the Darrelle Revis contract, and for a four-year deal it’s fairly complicated.
Per a source with knowledge of the situation, here’s the basic data on the Darrelle Revis deal: no signing bonus; 2010 base salary of $7.5 million; $18 million option bonus due on the first day year of the first league year after the 2010 league year ends (the language reflects the potential for a lockout); 2011 base salary of $7 million; 2012 base salary of $7.5 million; and 2013 base salary of $6 million.
That part is simple. Deciphering the guaranteed money makes it more complex.
Due to the 30-percent rule and the reallocation rule, the two sides had to apply some creativity. Before the option is exercised, the deal carries $13.772 million in 2013 base salary guaranteed for skill and $13.772 million in 2012 and 2011 base salary guaranteed for injury. The pre-option bonus base salaries ($10.06 million in 2011, $11.894 million in 2012, and $13.772 million in 2013) reduce to the lower numbers after the option is paid.
Following the exercise of the option, Revis has $6 million guaranteed for skill and $7.5 million guaranteed for injury.
And so, as of right now, Revis has $13.772 million in guaranteed money for skill and $13.772 million guaranteed for injury. As a practical matter, he’ll get one or the other, if he’s cut or if he suffers a career-ending injury.
After 2010, after he has earned $7.5 million in non-guaranteed base salary, he’ll have $21.272 million earned or guaranteed.
After the option bonus is exercised, he’ll have $25.5 million in his pocket plus $6 million guaranteed for skill and $7.5 million guaranteed for injury.
After the 2011 season, he’ll have $32.5 million in his pocket, with $6 million still guaranteed for skill and $7.5 million still guaranteed for injury.
And that’s the key. At the end of the 2011 season, Revis will have $32.5 million. That translates to $16.25 million per year — higher than the $16.142 million that Raiders cornerback Nnamdi Asomugha will earn this year.
So how do the Jets protect themselves against Revis deciding after 2011 that he doesn’t like the fact that he’ll get only $13.5 million over the last two years of the deal? The answer is sufficiently interesting to justify a different post.