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Johnson, Chiefs work out five-year contract extension
Updated: August 21, 2007, 1:38 PM ET
Larry Johnson ended his 25-day holdout Tuesday morning by finalizing a five-year extension that will keep him with the Chiefs through 2012.
Financial terms of the deal weren't available, but ESPN.com's Michael Smith reported that the contract is worth $45 million, with $19 million is guaranteed. Of the guaranteed money, $12 million is the signing bonus and $7 million is guaranteed salary.
Both sides were working on the deal Monday night. The final holdup was the payout over the first three years of the contract. Once that was resolved, Johnson decided to report and accept the Chiefs' proposal.
Johnson reported to the practice field late Tuesday morning, put on his helmet and was ready for duty.
It was a tough situation for the Chiefs and Johnson. He turns 28 years old this fall. Because of that, Johnson didn't want to play out the final year of his current deal and be in a position in which the Chiefs could make him their franchise player in 2008. Had that happened, it would have been hard for Johnson to get a big-money contract, since running backs nearing the age of 30 tend to not get big deals.
For weeks, both sides had been chipping away and getting closer, but it was not close enough for Johnson to get the deal done in time to report to River Falls, Wis., where the Chiefs conducted their training camp. Camp broke last week and the team returned to Kansas City.
By reporting and getting his new contract, Johnson has two possible games to polish his timing for the start of the regular season. He had an NFL-record 416 carries last season, and even though the team is expected to lighten the load this year, Johnson is considered the workhorse of the offense.
http://sports.espn.go.com/nfl/news/story?id=2984649
Updated: August 21, 2007, 1:38 PM ET
Larry Johnson ended his 25-day holdout Tuesday morning by finalizing a five-year extension that will keep him with the Chiefs through 2012.
Financial terms of the deal weren't available, but ESPN.com's Michael Smith reported that the contract is worth $45 million, with $19 million is guaranteed. Of the guaranteed money, $12 million is the signing bonus and $7 million is guaranteed salary.
Both sides were working on the deal Monday night. The final holdup was the payout over the first three years of the contract. Once that was resolved, Johnson decided to report and accept the Chiefs' proposal.
Johnson reported to the practice field late Tuesday morning, put on his helmet and was ready for duty.
It was a tough situation for the Chiefs and Johnson. He turns 28 years old this fall. Because of that, Johnson didn't want to play out the final year of his current deal and be in a position in which the Chiefs could make him their franchise player in 2008. Had that happened, it would have been hard for Johnson to get a big-money contract, since running backs nearing the age of 30 tend to not get big deals.
For weeks, both sides had been chipping away and getting closer, but it was not close enough for Johnson to get the deal done in time to report to River Falls, Wis., where the Chiefs conducted their training camp. Camp broke last week and the team returned to Kansas City.
By reporting and getting his new contract, Johnson has two possible games to polish his timing for the start of the regular season. He had an NFL-record 416 carries last season, and even though the team is expected to lighten the load this year, Johnson is considered the workhorse of the offense.
http://sports.espn.go.com/nfl/news/story?id=2984649
