Chiefs QB Cassel Should Earn $35.5 Million By March 1st, 2011

300h_mediumHave you heard that Matt Cassel signed a six year contract with the Kansas City Chiefs?  I think we mentioned that yesterday.  Judging by Arrowhead Pride's traffic numbers, a lot of folks are interested in the biggest contract in franchise history.

The report by John Clayton of ESPN that came out following the Chiefs announcement of the contract said the guaranteed portion of the contract was $28 million.  And that's still correct.  However, the "functional guarantee" is really more like $35.5 million.

Cassel's guaranteed $28 million will be paid out in the form of salary and roster bonus in the first two years of the contract.  By March 1st of 2011, year three of the deal, Cassel will likely have earned $35.5 million.

According to Andrew Brandt of the National Football Post, the contract includes a $7.5 million roster bonus due on the opening days of the 2011 league year.  The NFL calendar year starts on March 1st.  That means after 32 regular season games, Cassel will have earned $35.5 million.

Why does Brandt call this a "functional guarantee"?  Because it's highly unlikely the Chiefs will part ways with Cassel prior to March 1st, 2011 after investing nearly $30 million into him.

The detailed number on a year-to-year basis should be released by the NFLPA within the next day or so and we'll get those posted as soon as they do.

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