Patrick Peterson’s base deal is $8 million for 2021

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When news broke of cornerback Patrick Peterson‘s one-year deal with the Vikings, it was characterized by multiple leading newsbreakers as a one-year $10 million deal.

Our contract BS spider sense suggested that it wasn’t a $10 million deal, but a contract with a lower base value including incentives that, if reached, would pay $10 million.

For a change, our instincts were right. Per a source with knowledge of the terms, it’s actually a one-year, $8 million deal.

Peterson gets a $5.9 million signing bonus and a $2.1 million base salary. He can make the extra $2 million based on playing-time incentives and making All-Pro.

In other words, he’s most likely not getting $10 million.

It’s just the latest example of how the intense competition causes reporters to rush to Twitter with the information they’re given, ignoring whether the numbers are accurate. If one doesn’t do it, another will. So they all do.

And they all know they’re doing it. These aren’t instances of naivete. And the reporters in question don’t even get upset about it; they view it as an occupational hazard. Put simply, they’d rather have the news of the signing with bad information as to the value of the deal than no news at all.

From the player’s perspective, phony numbers create the impression that he has more money than he does. Which could have benefits in some contexts (like when comparing contracts in the locker room) and drawbacks in others (like when friends and family want some of the $10 million).

UPDATE 10:57 a.m. ET: Peterson gets $500,000 for 70-percent playing time, $500,000 for 80-percent playing time, and $500,000 for 90-percent playing time.

13 responses to “Patrick Peterson’s base deal is $8 million for 2021

  1. Someone is telling them “it’s ok the offensive line will be fine even after losing our best player.” Fire Rick Dennison!!

  2. Good signing by MN. He’s 30, like an aging Rhodes, and has averaged 9 passes defenses per season (compared to 14 for Jaire Alexander), but good signing. That nobody wanted to pay more for him is telling. But Rick’s signing of a descending player because he’s got a name – well that’s just Rick being Rick. Sign Spielman to a long term extension Mr. Wilf.

  3. touchback6 says:
    March 20, 2021 at 10:57 am

    If you are in cap hell, why on earth would you do this?
    _________

    Because they’re not?

  4. soisaystotheguyi says:
    March 20, 2021 at 10:46 am
    Good signing by MN. He’s 30, like an aging Rhodes, and has averaged 9 passes defenses per season (compared to 14 for Jaire Alexander), but good signing. That nobody wanted to pay more for him is telling. But Rick’s signing of a descending player because he’s got a name – well that’s just Rick being Rick. Sign Spielman to a long term extension Mr. Wilf.
    ————————————————
    Or…… Gladney plays best in the slot. Another dependable outside corner for the nickel would be good. Limited reps to keep him fresh. Think Terrance Newman

  5. If you are in cap hell, why on earth would you do this?

    Because the Vikings are not in cap hell. The reason they lost over half of their defensive starters from 2019 last year was they were underperforming and overpaid. Vikings have a pretty good cap situation.

  6. Baszed on Peterson’s deal I’m thinking that the $7 million base salary for Stephon Gilmore isn’t too far off—rumor has it that he will hold out for more.

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