By now you know the Denver Broncos have signed offensive tackle Russel Okung to a five-year $53M dollar contract. You may also be aware that Okung represented himself in these negotiations. As is typical with many NFL contracts, there is a certain amount of guaranteed money (often in the form of a signing bonus) but full value is rarely paid out given the high injury rate. Doesn’t make financial sense from the team perspective.
According to information obtained by Mike Florio of Pro Football Talk Okung’s deal contains zero guaranteed money. Not only is there no guaranteed money, but per PFT the Broncos have an out clause before the season begins. Okung has a $1 million workout bonus, a $2 million base salary and a $2 million roster bonus for making the 53-man roster for any single game. Since there is no guarantee, the Broncos can release Okung prior to Week 1 without paying him the other $4 million.
There is no doubt Okung’s injury history played a role in the Broncos signing this VERY team friendly deal. But what was Okung’s motivation? Maybe he’s so confident he’ll excel this season and because of the out clause he can force the Broncos to renegotiate and guarantee more money on a revised deal. It’s one thing to bet on yourself, and I’m all for players doing that, to maximize earnings. However, this is football where you are always, one play away from the end of your career. Okung the player should have told Okung the agent he needed some type of guarantee.
For more details on the contract, read here.