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Posted by Mike Florio on July 14, 2009 2:55 PM
As expected, the Kansas City Chiefs have announced that quarterback Matt Cassel has agreed to a contract extension.
No details have been provided by the club. We've heard that it's a five-year extension (making it a six-year deal), worth more than $60 million.
"We are excited to be able to reach a long-term agreement for Matt Cassel to be a Kansas City Chief for many years to come," owner Clark Hunt said. "His proven leadership on and off the field will be a tremendous asset to the organization."
"Since Matt arrived in Kansas City, he has embraced the team and the community," G.M. Scott Pioli said. "His work ethic, his athletic ability and his competitive presence is what we expect from our players."
Though the contract was executed one day before the July 15 deadline for signing franchise players to long-term deals, we've confirmed that the deadline did not apply to Cassel, for the reasons we explained last night.
As we understand, the team and the player wanted to get it done as soon as possible, and the timing in relation to the July 15 deadline was coincidental.
Still, even if there were only a five-percent chance that Article XX, Section 2(k) applies to Cassel, why take the risk of being wrong?
Permalink 5 Comments Back to Top
Cassel doing better than Brady
Posted by Mike Florio on July 14, 2009 1:55 PM
The April report from Michael Lombardi of NFP regarding quarterback Matt Cassel's long-term deal indicated that Cassel would receive $36 million guaranteed on a six-year deal.
Though we are coming up empty via traditional efforts to determine details regarding Cassel's deal, we currently believe that it's indeed a six-year package, with a base value in excess of $60 million.
That's more than the six-year deal Tom Brady signed with the Patriots in 2005, which further confirms that he's one of the most underpaid players in the NFL.
We also believe that the three-year take, one of the key factors in determining the value of a contract, is more than $42 million.
Both the team and the agent, David Dunn, likely will be disclosing no details about the contract, in keeping with the whole "nothing good comes from saying anything" philosophy that G.M. Scott Pioli brought with him from New England.
Once the contract is officially filed with the NFLPA, however, the full numbers will be leaked.
And the precise comparisons to Brady's deal undoubtedly will follow.
$28 million guaranteed for Cassel
Posted by Mike Florio on July 14, 2009 3:45 PM
According to John Clayton of ESPN.com, the six-year deal signed by Chiefs quarterback Matt Cassel includes $28 million in guaranteed money.
That's $8 million less than an April report regarding a long-term deal for Cassel had identified.
And it's only (only?) $13.35 million more than the guaranteed money that Cassel would have received if he had played in 2009 under the terms of his one-year franchise tender.
So Cassel could have borne the risk of injury and/or ineffectiveness in 2009, and he possibly could have landed a much, much larger total package.
But, like Cowboys quarterback Tony Romo, Cassel likely concluded that $63 million over six years is far more than he'd ever earn in the NFL. And, like his former teammate Tom Brady in New England, Cassel likely realizes that he needs to leave some other money in the payroll pot in order to allow the team to amass other guys who will help Cassel become as successful as he can be.
As expected, the Kansas City Chiefs have announced that quarterback Matt Cassel has agreed to a contract extension.
No details have been provided by the club. We've heard that it's a five-year extension (making it a six-year deal), worth more than $60 million.
"We are excited to be able to reach a long-term agreement for Matt Cassel to be a Kansas City Chief for many years to come," owner Clark Hunt said. "His proven leadership on and off the field will be a tremendous asset to the organization."
"Since Matt arrived in Kansas City, he has embraced the team and the community," G.M. Scott Pioli said. "His work ethic, his athletic ability and his competitive presence is what we expect from our players."
Though the contract was executed one day before the July 15 deadline for signing franchise players to long-term deals, we've confirmed that the deadline did not apply to Cassel, for the reasons we explained last night.
As we understand, the team and the player wanted to get it done as soon as possible, and the timing in relation to the July 15 deadline was coincidental.
Still, even if there were only a five-percent chance that Article XX, Section 2(k) applies to Cassel, why take the risk of being wrong?
Permalink 5 Comments Back to Top
Cassel doing better than Brady
Posted by Mike Florio on July 14, 2009 1:55 PM
The April report from Michael Lombardi of NFP regarding quarterback Matt Cassel's long-term deal indicated that Cassel would receive $36 million guaranteed on a six-year deal.Though we are coming up empty via traditional efforts to determine details regarding Cassel's deal, we currently believe that it's indeed a six-year package, with a base value in excess of $60 million.
That's more than the six-year deal Tom Brady signed with the Patriots in 2005, which further confirms that he's one of the most underpaid players in the NFL.
We also believe that the three-year take, one of the key factors in determining the value of a contract, is more than $42 million.
Both the team and the agent, David Dunn, likely will be disclosing no details about the contract, in keeping with the whole "nothing good comes from saying anything" philosophy that G.M. Scott Pioli brought with him from New England.
Once the contract is officially filed with the NFLPA, however, the full numbers will be leaked.
And the precise comparisons to Brady's deal undoubtedly will follow.
$28 million guaranteed for Cassel
Posted by Mike Florio on July 14, 2009 3:45 PM
According to John Clayton of ESPN.com, the six-year deal signed by Chiefs quarterback Matt Cassel includes $28 million in guaranteed money.
That's $8 million less than an April report regarding a long-term deal for Cassel had identified.
And it's only (only?) $13.35 million more than the guaranteed money that Cassel would have received if he had played in 2009 under the terms of his one-year franchise tender.
So Cassel could have borne the risk of injury and/or ineffectiveness in 2009, and he possibly could have landed a much, much larger total package.
But, like Cowboys quarterback Tony Romo, Cassel likely concluded that $63 million over six years is far more than he'd ever earn in the NFL. And, like his former teammate Tom Brady in New England, Cassel likely realizes that he needs to leave some other money in the payroll pot in order to allow the team to amass other guys who will help Cassel become as successful as he can be.
