Looking at Greg Olsen's new contract

August, 7, 2011
8/07/11
11:53
AM ET
Shortly after being traded to Carolina, tight end Greg Olsen and the Panthers worked out a four-year contract extension.

We’ve got the complete breakdown here. Olsen was in the last year of his contract when he came from Chicago and was to make $900,000 in base salary. In the new deal, the Panthers knocked that figure down to $700,000. They also gave Olsen a $2.5 million signing bonus and added four years to his contract. His cap figure for this year is $1.2 million. The average per year of the new deal is $5.7 million.

In 2012, Olsen’s base salary jumps to $3 million and that’s guaranteed. Olson also has a $2.5 million option bonus in 2012. In 2013, Olsen’s base salary increases to $3.75 million and he has a $250,000 workout bonus for that offseason.

In 2014 and 2015, Olsen is scheduled to make $5.25 million in base salary each season. He also has a $250,000 workout bonus in each of those years.

Prior to the lockout, the Panthers signed Jeremy Shockey to a one-year deal that's worth $3.8 million. Olsen's new deal shows that the Panthers have a lot more money and time invested in him. Shockey will probably be used as a role player this season, but Olsen will be Carolina's main tight end.

Pat Yasinskas | email

ESPN Tampa Bay Buccaneers reporter

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