Details of Tebow’s rookie contract with Broncos

The Denver Post has uncovered the contract details for former Florida Gators quarterback Tim Tebow’s five-year, $33 million maximum rookie deal with the Denver Broncos. It has been broken down into four categories below:

BASE SALARIES
2010: $1.295 million (guaranteed)
2011: $1.618.75 million (guaranteed)
2012: $1.942.5 million (guaranteed)
2013: $2.266.75 million (guaranteed)
2014: $2.590.5 million ($567,500 guaranteed)

BONUSES / ADVANCES
» Playing time: $1.537.5 million (one-time)
- Must play 35 percent of offensive snaps in 2010 OR 45 percent of offensive snaps in either 2011, 2012, 2013 or 2014.

» Salary advance: $975,000
- Paid Aug. 6, Denver will owe him only $325,000 more for 2010

» Signing bonus: $6.775 million
- Due in March 2011; salaries from 2011-14 will offset the advance

INCENTIVES
» Contract can increase from $11.25 million up to double ($22.5 million) if…
- Tebow participates in 55 percent of the snaps from 2010-12 or 70 percent in 2013
- The Broncos make the playoffs
- Tebow earns league/conference honors and awards
- Tebow ranks high among league quarterbacks

MAXIMUM VALUE
» Contract can increase to its maximum value of $33 million if…
- The Broncos reach the playoffs multiple times
- Tebow earns top honors (MVP) in the league or Super Bowl
- Tebow rankes in the top five among league quarterbacks

Tags: , ,

Leave a Reply | Register | Login


× 3 = nine