League salary documents obtained by ESPN.com confirm the six-year contract signed last month by former North Carolina State defensive end
Mario Williams, the first selection in this year's draft by the
Houston Texans, features a basic value of $54 million and a maximum worth, counting all possible bonuses, incentives and escalators, of $62.1 million. This was written by Len Pasquarelli appeared at ESPN.com
The guaranteed money in the contract is initially $21.75 million, and then jumps to $26.5 million after the Texans exercise an option next spring.
And the signing bonus is zero.
That's right, folks, no signing bonus.
It is believed to be the first time in modern history that the top overall selection in a draft agreed to a deal with no signing bonus included. But that's hardly reason to pass around the collection basket for Williams. In fact, first-round contracts with no signing bonus money were frequently employed in 2005 as a means of countering collective bargaining agreement restrictions while still achieving the maximum value in most deals, and the trend almost certainly will continue this year.
The mechanism was certainly effective in 2005, when first-round choices garnered increases in guaranteed money of 10-20 percent over their 2004 counterparts. That despite the fact that exactly half of the 32 first-round picks signed contracts that paid them no signing bonus money. In virtually every case last year, players who signed contracts that included no signing bonus were able to improve their deals' total guarantees.
Only two first-rounders -- Cleveland wide receiver
Braylon Edwards and Chicago tailback
Cedric Benson -- received signing bonuses of more than $3 million in 2005. Top overall choice
Alex Smith, the former Utah quarterback chosen by the
San Francisco 49ers, banked a signing bonus of just $1 million. Four of the top 10 picks last season -- Miami tailback
Ronnie Brown (No. 2), Minnesota wide receiver
Troy Williamson (No. 7), Arizona cornerback
Antrel Rolle (No. 8) and Washington cornerback
Carlos Rogers (No. 9) -- received no signing bonuses.
It didn't keep them from landing very good contracts, however, and it likely won't affect players chosen in the first round of this year's draft, either. The number that counts the most is guaranteed money, and in the case of zero-signing bonus contracts, the total hasn't been diminished by a lack of up front money.
In the case of Williams, he received a $2.625 million roster bonus on what essentially is a five-year deal with an option for a sixth season. Under the terms of the contract, the base salaries for the first five years -- $275,000 (2006), $3.625 million (2007), $4.35 million (2008), $5.075 million (2009) and $5.8 million (2010) -- are fully guaranteed. That totals $21.75 million in guarantees.
But the guarantees escalate to $26.5 million next spring, when the Texans pay Williams $12 million to exercise their option for a sixth season on the contract. By exercising the option, the Texans reduce the salaries in Years 2-5 of the contract -- to $975,000 (2007), $1.575 million (2008), $2.3 million (2009) and $3.025 million (2010) -- and add the 2011 season at a base salary of $3.725 million. All the base salaries are guaranteed, bringing the total guaranteed money to $26.5 million.
Williams can void the final two years of the deal based on playing time levels and if he and the team reach certain predetermined performance levels, but the Texans then have a right to buy back the voided 2010 and 2011 seasons at a cost of $8.5 million. There are plenty of incentives, like $125,000 in most years for leading the league in sacks, bonuses for honors and playoff victories, and escalators that can raise the base salaries in 2010 and 2011 by $6 million and $9.5 million, respectively.
But mostly there is a lot of money, even if none of it is delivered in the form of a traditional signing bonus, and the Williams contract is certain to be a template of sorts for many more first-round deals. This was written by Len Pasquarelli appeared at ESPN.com
