The believed final numbers are now in on the new 5 year, $42.5 million contract extension that Pittsburgh Steelers wide receiver Antonio Brown agreed to today courtesy of PFT. The numbers are a testament to how good of a contract negotiator that Omar Khan is.
The reported signing bonus of the deal is a very manageable $8.5 million. That breaks down to a $1.7 per year amortized schedule for that alone. Brown also will have a $540,000 base salary in 2012. Left over from his rookie contract is a signing bonus amortized hit of $24,359.00, which means that the 2012 cap hit for Brown should be just $2,264,359 million. Brown was scheduled to count $564,359.00 against the cap this year, so that means that is new cap number increased just $1.7 million on Friday.
In 2013, Brown is scheduled to earn a base salary of $2 million and he also has another $2.5 million roster bonus due as well. This means that his 2013 cap number will be $6.2 million. In 2014 and 2015, Brown is scheduled to earn a base salary in each of those two years of $6 million. That means that his cap hits in both of those years will be $7.7 million. In 2016, his base salary jumps to $8.25 million and he will have a $9.95 million cap hit. In 2017, the final year of the deal, Brown is scheduled to earn a base salary of $8.71 million and that will be the cap hit as well should there not be any restructuring done between now and then.
There is a missing amount of $250,000 that PFT is not accounting for if indeed the contract totals out at $42.5 million. That could be workout bonus in year three or so and I will try to track that down.
The low cap in 2012, means that the Steelers still have enough cap space to get a long-term deal done with restricted free agent Mike Wallace, but the deal will certainly be on their own terms and structure. I will have more on the available cap room in a post later on tonight or in the morning.