by: Chris Sullivan
Houshmandzadeh signed for $8 million per season, but his deal featured a $2 million signing bonus and no other bonuses. His contract will count $5.9 million against the cap in 2009 and $7.4 million in 2010. The deal would have $14.5 million in guarantees if the team guaranteed the base salaries in the first two seasons (an increasingly common tactic this offseason).So, to me, this is all fairly reasonable. The Cole signing is the one that got many people wondering -- well, his contract is somewhat backloaded (14.65 million of his 21.4 million are in the last 3 years, pro-rating the signing bonus). Cutting Cole looks to be quite cheap after year one, as it appears that only $6 million is guaranteed -- his signing bonus and 2009 salary plus another million. Cutting him in year two would still save us more than a million in cap room if he stinks up the place.
Cole got a $2.5 million signing bonus and base salaries of $2.5 million (2009), $3.25 million (2010), $3.75 million (2011), $4.4 million (2012) and $5 million (2013).
Ray Willis signed a two-year deal for $6 million. This included a $1 million signing bonus, a $1 million roster bonus and base salaries of $1 million (2009) and $2 million (2010). He can earn another $500,000 in incentives.
Housh is probably getting paid more than he deserves in year two, but that's probably about it. I can handle that, especially if he's productive. ~END~