New contracts routinely are characterized in agent leaks to the media based only on “new money,” because the average sounds better that way. For Cam Newton, five years and $103.8 million translates to an average of $20.76 million in “new money.”
But the real value of the contract must include the remaining contractual value. For Newton, who already was under contract for 2015 at a fifth-year option value of $14.67 million, his total package becomes six years and $118.47 million. That’s a total average of $19.745 million per year.
While it’s still unclear how much of the contract is fully guaranteed, the $22.5 million signing bonus strongly suggests that Newton won’t be cut during the next three years, during which he’ll reportedly pocket a record-setting $67.6 million.
The full details will say plenty about the cap numbers, the cash commitments, and the true guarantee Newton gets from the moment he signs the deal. But unless Newton regresses so dramatically that the Panthers believe they can find someone else who’ll perform even better, Newton likely isn’t going anywhere any time soon.