Brees gets $37 million to sign

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The details on Drew Brees new contract have made their way to PFT headquarters.

And they are spectacular.

Brees, per a source with knowledge of the deal, will receive a $37 million signing bonus and a $3 million base salary in 2012.  The full signing bonus will be paid out within the next six months.

The $40 million paid in 2012 is fully guaranteed.  For now, $20 million beyond 2012 is guaranteed for injury only.  Next year, on the third day of the waiver period (typically, the third day after the Super Bowl), $15 million of the injury guarantee becomes fully guaranteed.  The extra $5 million remains guaranteed for injury only.

In 2015, again on the third day of the waiver period, more than half of his $19 million base salary becomes fully guaranteed.  Ditto for 2016; on the third day of the waiver period, more than half of the $20 million base salary becomes fully guaranteed.

The device in the last two years of the contract forces the Saints to cut him, if at all, sufficiently early in the offseason to give him a full chance to land elsewhere.

In all, he’ll receive $40 million this year, $10 million in 2013, $11 million in 2014, $19 million in 2015, and $20 million in 2016.

The new deal actually reduces Brees’ cap number dramatically, from $16.37 million to $10.4 million.  Next year, his cap number will be $17.4 million.  In 2014, the cap number will be $18.4 million.  By 2015, when the new TV deals from 2014 hit the cap, Brees cap number will be $26.4 million.  In the final year of the deal, the cap number becomes $27.4 million.

The structure makes it, in essence, a three-year, $61 million contract with a team option for year four (at $19 million) and year five (at $20 million).

If he keeps playing at a high level and stays healthy, he’ll potentially get it all.  If not, he’ll be on the market before free agency begins, in 2015 or 2016.

62 responses to “Brees gets $37 million to sign

  1. For everyone complaining that this is too much money for Brees. I have two words for you:

    Aaron Brooks

  2. Consider that $37MM back pay. Excellent deal for the Saints, Brees, and their fans. Loomis pulls yet another rabbit out of his hat.

  3. Good for him, bad for the team and the city in the long run. The Saints will not win this year and he’s getting 40 million for this year…Such a stupid deal.

  4. If that is what a “good” QB gets as a signing bonus I wonder what ol Mickey Loomis would pay a “great” one. Hmmmm

    Great deal for Drew. They should’ve worked this out long ago. This Cat is the heart of that team. Good haul Mr. Brees!

  5. This is crazy money in the real world but pretty much in line with what elite Super Bowl winning QBs make in this era. Brees felt he has performed on the level of Brady, pre-injury Payton Manning, etc… and wanted to be paid as such. Mission Accomplished.

    It doesn’t hurt that he is the face of and most beloved player in the history of the franchise either.

  6. Still a full $8 million less that Manning would have rec’d from the Colts contract last year in the first three years.

  7. Is it me or has every one of these contracts where the player gets a large mount of guaranteed money in a contract end in disaster lately?

  8. This money paid out to players is getting out of control. It’s been getting worse and worse in the last several years, but, $40,000,000 for a year of football? Wow.

    One player will get paid stupidly high, and so another player tries to out-do the other contract.

    If I was running a team, I would be drafting a rookie QB every 3 years in the first round, trade up if I had to, and pay the rookie scale.

    If a player wants that kind of money, I’d trade him for a high draft pick… and just draft a younger replacement.

  9. Wisconsin77 – Outside of Chris Johnson (who can still redeem himself), what other recent big money deals “ended in disaster”? Brady got a similar deal and has played pretty well for the Pats…

  10. No discount double check here! Now let’s see how this season goes after all the turmoil.

  11. Way too much money. Completely overpaying. But…Brees wanted this much money and wouldnt take less.

    Personally, I would have let him play for the franchise tender, and start with someone new next season. Nobody is worth paying 1/6th of your entire salary cap.

  12. Glad this is over. Maybe guy will shut his trap & lay low for a while.

    p.s…… take some of that cash and get that skidmark off your face.

  13. Go Brees – you holding out made them come to their senses. As for all the others that are trying to figure if good or bad for salary cap and other players – leave this stuff to the front office of the Saints – they don’t need all you finicial advisors poking your noses in Saints business. Just worry about your team.

  14. I’m not a Saints fan but why in the world would anyone hate on Drew Brees for getting paid as a elite QB? He is a guy who came into the league considered undersized and not strong enough to play at this level and worked his butt off to become great. He did everything the right way and has never had a single off the field issue. His teammates love and respect him AND he won a Super Bowl for a team that was a laughing stock before he got there.

    I know haters gonna hate but it’s pretty silly when talking about Drew Brees.

  15. Love it when a team devotes 15-20% of their salary cap to one player. You can basically count on that team to have numerous weak areas that they simply can’t fix unless they’re extremely lucky in the draft year after year.

    You can now add the ‘Ain’t to that list of teams that will be starting late round draft choices for the next several years because they can’t afford to keep most of their better players.

  16. swingondeesenuts says: Jul 13, 2012 3:16 PM
    Wisconsin77 – Outside of Chris Johnson (who can still redeem himself), what other recent big money deals “ended in disaster”? Brady got a similar deal and has played pretty well for the Pats…

    To Chris Johnson add Payton Manning and Albert Haynsworth (40 mil guaranteed there too).

  17. Drew brees locker room speech: “first off, I want to thank you my team for helping me sign this contract. I wish I could put all of your names on it, but I just can’t! Now, for the rest of you, since we will not be able to afford you in a season or 2, you get to take this with you, and tell your Kids you got the chance to play with the greediest player of all time! That is something they can never take away from you!” I know, it’s not funny, it’s in bad taste, but, this is true, and that you can censor all day! It took a lot of time for drew to prepare this speech, and to have it deleted just hurts his feelings.

  18. Not a single person hated Brees until his diva rant about sitting out if he doesn’t get his deal. I agree with him that franchising sucks, but $hit it’s still over $23 million for one season, more then tenfold the money anyone will need for a lifetime.

    Brees = Dwight Howard

  19. HAHAHA!!! To all those doomsayers out there and Saints haters. Bet you’re shaking in your boots now. A happy Brees is a dangerous Brees.

  20. Boy got paid.
    That’s so much money that we are talking about 10-20 million like its nothing.
    All of us who posted a comment won’t sniff 1-2 years of his deal with all of our money combined.

    GO BIG BLUE!!!

  21. Wisconsin77 – Payton Manning got hurt in the middle of his front loaded deal so it only hurt the Colts for one season and actually helped them get their QB of the future. As for Albert Haynsworth , it’s foolish to put him and Drew Brees in the same paragraph. Haynesworth was the result of the dumbest owner in the league trying to play fantasy football.

    There has been far more elite players signed to big money deals that have worked out then those who haven’t. You seem to forget in the NFL, nearly all of the big money deals are front loaded meaning that after a couple of years, you can simply cut the player and only lose the signing bonus money you gave him.

  22. so what happened between yesterday when you said they were miles apart even as brees said he was confident a deal would get done before the deadline? looks like you were wrong again! go on admit it there is no shame in admiting you were wrong,well maybe in your case since you are mr. know it all, but just admit you were wrong about this.

  23. So now…..most other players are going to want to follow suite with like contracts and up, up and away we go….the sky is the limit !…..Reminds me of the Real Estate Market. when every investor thought there would never be an end to it ! The NFL and Pro Spots, in general, will eventually price itself out of existence because the people paying for all of this will not be able to fund this Greed Machine with the insatiable appetite ~

  24. Ok…yes we complain that $40 million is too much money. But you know what? Someone was willing to pay it. Off the top of my head, I’m not sure what he earned last year, but for round numbers’ sake we will say $10 million. So now he makes 4 times that this year. If I make 50k a year and I perform, and my boss and I haggle and he eventually offers me 200k a year to perform again, am I gonna say no? It’s like the a-rod thing when he left Seattle. Texas offered him $252 million, the next highest was Atlanta at HALF that at $126 million. Sure he’s a d-bag but I’m not gonna boo him because he makes more than the GDP of 25 countries. If people want to get mad, get mad at the owners or willing to pay it or get mad at the networks whose tv deals pay for the players’ salaries.

  25. Brees probaly will give 10% back to charities around New Orleans but that want get reported just how greedy Brees was for taking a deal which he earned.

  26. Good for him.
    I now hope the following happens
    1. Brees keeps his mouth shut
    2. No more “Brees demands an explanation” comments (I am truly sick of those).
    3. Lets get back to discussing football and not on bountygate or the social / anti social lives of players and coaches.

    The offseason sucks

  27. Poor poor Drew. I feel so bad for him about how shabbily the Saints and the NFL have treated him…..poor poor Drew. Those evil corporations are taking total advantage of him and are completely abusing him.

    Such was his vile spin leading up to this. Drew, without a doubt, sullied his reputation leading up to this. He portrays himself as a liberal “compassionate” kinda guy who’s very concerned about “social justice” (another term for socialism). But throughout this negotiation he has demonstrated a selfishness like no other. I found him to be extremely hypocritical of his own professed values….. kinda like the Hollywood crowd.

  28. As a Buc fan, I can’t stand him……………. and he’s worth every last dime.

    Well deserved. Congrats.

  29. I’d count the $37 million signing bonus as back-pay. Overall a good deal for Brees and for the Saints inasmuch as they managed the salary cap as best they could.

    Still, I agree with those that say this begins the slide to mediocrity for the Saints. Paying one guy 20% of your salary cap, even if he’s 1 of the top 3 QBs in the league, is a killer in terms of putting a quality team around him.

    Must have very competent front-office and coaching to sign and develop young talent and pick-up struggling vets and turn them around.

    Would not be surprised to see the Saints miss the playoffs this year.

  30. Brees your an overpaid lil crybaby girl! Your like the rest of the nation dont give two craps about the aints!

    The SKINS are gonna put you and the rest of those AINT’S on there ARSE week 1 baby huey!

    MARK IT!

  31. To quote the great Ross Tucker “Brees got biggest $ guarantee in NFL history yet it’s less than Nets just guaranteed Brook Lopez. Who? Exactly.”

    Anyone that thinks Brees is overpaid is an idiot.

  32. Is $40M the most any NFL player has ever received fully guaranteed for one season ? Brees is one of the league’s best QB’s , but I sincerely doubt that ANY player should receive 40 Million guaranteed for 1 season , but then again
    im not again im not a Saints fan . So congrats who Dat nation ( unless you play my team of course) .

  33. Hey Drew Brees
    Life must be so tough for you – I mean to have such a hard life that you had to hold out for a couple extra million.

    Here is a thought – join the military like Pat Tillman did and then see how much you would complain.


  34. To the haters,if it was you would you turn it down are complain about $40 mill for your first year doing something You love. If your Employer wanted to pay you that type of money in one year what would you do? I guess some of you would be stupid an Don’t take it right?Don’t hate congratulate.

  35. For everyone bitching about the amount of money Drew is getting paid in this deal take a look at this. Drew is getting 60 million guaranteed which is a crazy number but Blake Griffin just signed a contract in the NBA that guarantees him 61 million and NOBODY is saying a word about it. We are talking about a guy whose only move is to dunk with minimal contact and then a guy who gets chased around by 300+ lbs lineman, DE’s that are about 280, and not to mention linebackers that average 230-250 lbs that are hitting a guy thats 5’11” and he’s overpaid????? If anyone is overpaid it is EVERY NBA player!!!!! Drew broke a record that stood for 30 years and has the highest completion percentage over the last 3-4 years and most wins over the last five according to Chris Mortenson’s report that he had during the week (if that’s not accurate don’t blame me!). Good for Drew, good for the Who Dat nation, and now its timw to turn it into W’s.

  36. The big bucks these guys are getting is great for them and the fans of these guys are thrilled but I hope they take time out to remember it is them the fans that will be paying this money. The price of everything will go up and unless the fans quit buying the players will continue to pull in the big bucks and you the fan cannot complain, it is simple as Supply and Demand.

  37. Don’t get mad with a man,who is trying to get what he think he is worth,don’t get mad with a man who is getting paid,don’t get mad with a man who is trying to make sure that his wife an kids,are going to be taking care the rest of there life,an he is using his back an profession to do it. The owners make ten times that much are more,owners use players an the team for entertainment to make way more money than what they are paying players an the owners don’t take the physical beating are life changing injuries are there life for that matter. But no one talk about that,are complain bout the hundreds of million of $ that the owners make,but instead people complain bout a player getting paid to much money that they help the owner to make money for because the player,happen to be a good to great player,so if you don’t have a are some great players on that owners team than,that owner can’t make that great money are win.$40 million for 1y that like $40 dollars to Mr.Benson remember people he just bought the hornets for $300M if I heard it right. So be for real people an be honest with yourself wouldn’t you.

  38. I lost all respect for Bree’s over bountygate and now he robs his team of the future years cause they have no money left?? This is the only year they got a shot cause it’s downhill from here. Ohhhh and good luck at that without Sean Payton!

  39. Too many haters on here are just clueless and just say anything negative and ignorant with no knowledge of this very team friendly deal…Brees cap is 10M in 2012 and saints now are 9M dollars under cap and brees cap will be somewhere around 17M in 2013 new tv contracts will kick in 2014 brees base salary will be cap friendly again and in the last 2 yrs of deal is a team option saints can easily cut brees if he is on decline or easily restructure his deal…this was a win-win for both sides and saints will not be hurting to resign other players. Saints will make some cuts and restructure just like every other team does and Loomis is one of the best GMs in the NFL…this deal isn’t gutting the Saints…Saints are in better shape cap wise than 90% of other nfl teams

  40. If the Saints are lucky this year, they’ll roll over most or all of that $9 million under the cap, so that they can add top talent next year.

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