Wednesday, August 1, 2012
Breaking down Morstead's new contract
By Pat Yasinskas
I just got a look at the full details of the contract extension New Orleans punter Thomas Morstead received from the Saints last week.
Morstead got a six-year extension that keeps him under contract through 2018 and the total deal is worth $23.16 million. Morstead got a $3.5 million signing bonus.
He already was scheduled to make $1.275 million in base salary this year and his salary-cap figure will be $2.016 million. In 2013, the first year of the new deal, Morstead’s base salary is a guaranteed $2.15 million and his cap figure is $2.95 million.
In 2014, Morstead’s base salary rises to $2.185 million and his cap figure will be $2.985 million. In 2015, Morstead’s base salary is scheduled to be $2.35 million and his cap figure is set at $3.15 million.
Morstead’s biggest raise in base salary comes in 2016 when he is scheduled to make $3 million with a $4.2 cap figure. In 2017, the base salary is $3.15 million and the cap figure is $3.75 million. In 2018, the base salary is $3.55 million and the cap figure is $4.15 million.
Morstead also can earn a $100,000 workout bonus each offseason, starting in 2013. The deal also includes a roster bonus in each of the final three years of the deal. Morstead will collect a $400,000 bonus if he is still on the roster on the fifth day of the league year. In 2017 and ’18, the roster bonus is $500,000 per season.