The Chicago Bears have announced the signing of first round pick, #31 overall, Greg Olsen out of Miami. Olsen has been signed through 2011.
ProFootballTalk.com lists out the contract like this:
In 2007, he gets a signing bonus of $250,000, a $720,000 roster bonus, and a base salary of $285,000 in 2007.
The contract also has a one-time incentive based on minimum playing time of $578,700. For 2007, the trigger is 35 percent of the offensive snaps. For future years, it is 45 percent.
In 2008, there's an option bonus of $3.545 million and a base salary of $460,000.
In 2009, the base salary is $460,000, and Olsen is eligible for a $100,000 reporting/roster bonus that is earned at the start of training camp and paid out over the course of the regular season. (We'll explain the genesis of this new bonus later.)
In 2010, the base salary is $550,000, and the reporting/roster bonus is $140,000.
In 2011, the base salary is $650,000, and the reporting/roster bonus is $125,732. The total value, including possible incentives of up to $2.921 million, is $10.69 million over five years.
Olsen's agent, Drew Rosenhaus, (next question) was able to get a deal done dispite ongoing, heated talks with the Chicago Bears over hold-out threatening linebacker Lance Briggs. Briggs and Rosenhaus are both upset with the franchise tagging over the pro bowl linebacker.
Brandon
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