Grbac will get $5M bonus when he signs today

Quarterback's contract cap-friendly for Ravens

March 08, 2001|By Ken Murray

In the wake of Elvis Grbac's five-year, $30 million contract agreement with the Ravens on Tuesday, the team's vice president of player personnel, Ozzie Newsome, pronounced it a "Ravens deal."

"We still feel like we got the right player at the right price," he said.

It turns out the price was even more salary-cap friendly than first believed.

The Ravens must pay the veteran quarterback a $6 million bonus at the end of his first season to exercise their option on the final three years of the contract.

If they choose not to exercise the option, but keep him on the roster for a second season in 2002, they would owe Grbac a $6 million roster bonus. That is unlikely.

More likely, if they don't exercise the option on the final three years, they will cut Grbac at the end of the first year and have a total payout of only $5.5 million.

When Grbac signs the contract today, he will receive a $5 million signing bonus to go with his $500,000 base salary. His second season base is $1.5 million, which jumps to $7.5 million with the $6 million bonus.

Therefore, the likelihood is that Grbac either plays out the five years and receives $30 million, or is released after one season worth $5.5 million.

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