The New England Patriots and linebacker Jerod Mayo recently agreed to a contract restructure, creating $4.1 million in cap space for the team in 2015 by lowering his cap charge to $6.1 million.
Below is a closer look at the new deal, which includes $4.5 million guaranteed, including $3 million in a signing bonus, and a team option in both 2016 and 2017.
2015
Signing bonus: $3 million
Base salary: $1.5 million (guaranteed)
Incentives: Up to $1.8 million (tied to playing time, making the Pro Bowl and team qualifiers)
Cap value: $6.1 million
Cash value: $4.5 million
2016
Roster bonus: $4 million due on the first day of the league year if the team exercises his 2016 option
Base salary: $3.25 million
Roster bonus: Up to $500,000 ($31,250 for each game he is on the 46-man active roster)
Incentives: $300,000 for making the Pro Bowl
Workout bonus: $250,000
Cap value: $11.4 million
Cash value: $8 million
2017
Roster bonus: $2 million due on the first day of the league year if the team exercises his 2017 option
Base salary: $6.75 million
Roster bonus: Up to $500,000 ($31,250 for each game he is on the 46-man active roster)
Incentives: $300,000 for making the Pro Bowl
Workout bonus: $250,000
Cap value: $10.5 million
Cash value: $8 million
QUICK-HIT THOUGHTS: This further information reaffirms what our initial sense on the deal was when the restructure was agreed to -- 2015 will be a year for Mayo to prove he is fully healthy and also to re-immerse himself back into the defense. With a manageable cap number and a $4.5 million guarantee for 2015, he is a roster lock for this season. The team has flexibility on the final two years, and if Mayo returns to the form he showed earlier in his career, the team might be enticed to exercise one or both of the options despite an $11.4 million cap charge. A projected rising salary cap is another factor to consider, as that will afford teams more flexibility. For now, the focus for both sides is getting back to work on 2015.