$32.25 million guaranteed, as a practical matter, for McCoy

AP

The Buccaneers have announced that defensive tackle Gerald McCoy has signed a seven-year extension.  Some have reported the guaranteed money as being in excess of $50 million.  But how much is really guaranteed as of right now?

At signing, McCoy is fully guaranteed to receive $14.757 million.  (That doesn’t include the $5.2 million he has earned through seven weeks this year.)  At the opening of the 2016 waiver period (i.e., right after the Super Bowl), the full guarantee becomes $32.257 million.

Teams usually don’t cut players when salaries convert from injury-only to fully guaranteed at the start of a waiver period.  Even if the Bucs would depart from the usual approach, it would make McCoy a free agent a month before free agency opens, with $20 million in hand from 2014.

On the third day of the 2016 league year, the rest of the $51.5 million becomes fully guaranteed.  Poor performance for the rest of this year and into 2015 could prompt the Bucs to avoid the additional $19 million.  Even then, McCoy will have made an additional $32 million over the balance of 2014 and in 2015, along with the $5.2 million he’s already made this year.

The contract also has a total value of $95.2 million in new money, and roster bonuses in the final two years aimed at forcing the Bucs to make an early decision about whether they’ll be keeping him on the roster.