The New York Giants re-signed left tackle Will Beatty to a five-year deal worth upwards of $38.75 million on Wednesday, and it's now being reported that his base salary in 2013 will be only $1 million. The low base salary and subsequent cap hit prevent the Giants from going over the projected salary cap of $121 million in 2013, but puts them very close to it. In other words, restructures and possible releases are still coming.
“If it’s a money issue, that temptation [to hit the free agent market] would come in. But having this be my home team, I really didn’t want to go into free agency. This is the team that wanted me from college. This is the team that gave me my first chance. This team went to the Super Bowl. I saw so many great moments with this team and there are still so many more to come,” Beatty said on Wednesday.
As far as Beatty's contract goes, a source has provided The Star-Ledger with full year-by-year details, and it breaks down as follows:
- Signing Bonus – $12.5 million
- Guaranteed – $19 million
- 2013: $1 million base salary (guaranteed for injury/skill/cap), $50,000 workout bonus.
- 2014: $4.85 million base salary (guaranteed for injury/skill/cap), $50,000 workout bonus.
- 2015: $5.5 million base salary ($650,000 guaranteed for injury/skill/cap), $50,000 workout bonus.
- 2016: $6.625 million base salary, $50,000 workout bonus.
- 2017: $6.775 million base salary, $50,000 workout bonus.
Note: There are a number of contract escalators written in from 2014 through 2017.
Cap hit by year:
- 2013: $3.55 million
- 2014: $7.4 million
- 2015: $8.05 million
- 2016: $9.175 million
- 2017: $9.325 million
All in all, this is a good deal for both Beatty and the Giants.
Also…Football, New York, New York Giants, NFL, Will Beatty