The deal is for $63 million, with $28 million guaranteed, according to a source. He's going to make $40.5 million in the first three years of his contract.
Oh, yes, we are confirming the Cassel reports. The deal has $30 mill guaranteed, 6 years, $60 mill+, $40 mill paid in 1st 3 years.
Not much of a difference, but when this piece is considered, I'm going to go with Clayton's numbers.
After the jump, we've got a few more places that are talking about the long-term deal Matt Cassel has signed with the team. Check those out and vote in the poll below.
Pete Prisco of CBS Sports: 'I would have waited'
When the Jaguars paid Garrard, I cautioned about paying a potentiial one-hit wonder. After he struggled last season, there is some debate as to whether the Jaguars made the right move.
The same theory applies here. Cassel had one good year and now he's getting big money? Why not make him play a year under the franchise tag and then see if he's worth it? What's the rush?
We all knew this was going to happen eventually. If you believe in a quarterback as much as the Pioli Trinity obviously does in Matt Cassel, you don’t risk letting him walk after one season. Nobody likes a "wham, bam, thank you, ma’am." Well, unless it happens to the Broncos. That’s why the Chiefs have signed Cassel to a long-term contract.
Though we are coming up empty via traditional efforts to determine details regarding Cassel's deal, we currently believe that it's indeed a six-year package, with a base value in excess of $60 million.
That's more than the six-year deal Tom Brady signed with the Patriots in 2005, which further confirms that he's one of the most underpaid players in the NFL.
Mike Reiss of the Boston Globe confirms and adds that the July 15th deadline, which we've previously discussed, would not apply to Cassel.
A little clarification, as ESPN's John Clayton pointed out, the deadline for a franchise-tagged player to negotiate a long-term deal technically would not apply to Cassel because the team that franchised him (the Patriots) traded his rights.
Ideally, the Chiefs would have had another season to evaluate Cassel as a starter. But it seems as if that wasn't option and if they think Cassel is their guy, then the extension had to get done. Now Chiefs fans just have to hope that Cassel really is a franchise player.
Cassel’s package would leave him in the second echelon of starting quarterback pay, behind guys like Peyton Manning, Ben Roethlisberger and Brett Favre. In 2005, Tom Brady signed a six-year, $60 million contract extension with just under $27 million in guaranteed money.