It was reported as a three-year, $33 million deal, with $18 million guaranteed. It took a few days, but the real numbers have made their way out, regarding the contract signed by safety Tyrann Mathieu with the Saints.
Here are the full details, per a source with knowledge of the terms.
1. Signing bonus: $9.5 million.
2. 2022 base salary: $1.5 million, fully guaranteed.
3. 2023 base salary: $7 million, fully guaranteed.
4. 2024 offseason roster bonus: $1.5 million.
5. 2024 base salary: $7.5 million.
That’s a base deal of $27 million over three years, with $18 million fully guaranteed at signing. The deal includes $2 million per year in incentives, with the same formula for each of the three years of the contract.
The incentive triggers are: (1) $500,000 for participating in 80 percent of the defensive snaps with a playoff win or first-round bye; (2) $500,000 for participating in 80 percent of the defensive snaps with two playoff wins; (3) $500,000 for participating in 80 percent of the defensive snaps with three playoff wins; and (4) $500,000 if named first- or second-team All-Pro.
The potential $6 million in upside pushes the deal to $33 million, if every incentive is reached in each of the next three years. Again, the base deal is $27 million, an average of $9 million per year. The first two years are fully and completely guaranteed at signing.