Omar Khan Strikes Again With New Timmons Contract
The new 6-year contract with inside linebacker Lawrence Timmons was announced by the Steelers on Tuesday and once again Steelers Business & Football Administration Coordinator Omar Khan has proven why he is the best in the business at getting smart deals done.
Timmons was heading into his final year under contract and was still owed around $1.4 million or so on his rookie deal. His new deal tacks on 5 more years now and it includes $18 million in total bonus of which only $12 million is guaranteed. $10 million of the new deal was signing bonus with another $7 million of the $18 million bonus money being paid as roster bonuses in 2012 and 2013. None of that future money is guaranteed though, but it is highly likely that Timmons collects it as long as he stays healthy.
Being as signing bonuses can only be stretched out over 5 years, it means that 2016, the final year of the new deal, is pretty much voidable in the fact that there will be no dead money to eat should he not make the roster. So in essence the new deal is really 5 years for $41.25 million.
The 2011 cap hit for Timmons with this new deal will now be just shy of $5.4 million, but will jump to $9.125 in 2012.