On Tuesday, veteran safety Adrian Wilson agreed to a two-year contract extension with the Arizona Cardinals. The 32-year-old had two years and $14.5 million remaining on his previous contract and his new deal, which runs through 2015, was expected to involve a decrease that would save the Cardinals both cash and cap space.
Kent Somers of The Arizona Republic is first on the scene with the full numbers, which show a major pay cut over the next two seasons.
According to Somers, Wilson will receive a $1.5 million signing bonus and his $1.5 million base salary this season is fully guaranteed. Wilson can earn a $500,000 incentive with a return to the Pro Bowl and can earn up to $3 million in incentives tied to playing-time, sacks, interceptions and fumble recoveries, as well as touchdowns on both interception and fumble returns. Along with a $250,000 workout bonus, Wilson can earn $6.75 million if he triggers all of his incentives, the same amount he was scheduled to earn prior to the extension.
Wilson's 2012 cap number is currently $3.425, a cap savings of $4.125 million for a Cardinals team that had $4.552 million in cap space prior to yesterday's extension.
In 2013, Wilson has a $1 million roster bonus due on the first day of the league year. That roster bonus is guaranteed for "injury only". Wilson's $2.5 million base salary next season is also guaranteed for "injury only" and the five-time Pro Bowler can earn the same $500,000 in Pro Bowl and $3 million in performance incentives that are available in 2012. Along with a $500,000 base salary escalator, Wilson can earn the same $7.75 million that his previous contract had called for.
So while Wilson has taken a major pay cut, he will have the opportunity to earn every nickel back through incentives. In terms of "new money", Wilson has non-guaranteed base salaries of $3.5 million and $250,000 workout bonuses in both 2014 and 2015 for a total of $7.5 million. An additional $8 million in incentives tied to Pro Bowls ($1 million total), performance ($6 million total) and base salary escalators ($1 million total) is available.
"I'm not in it for the money; I have enough of that," Wilson said according to The Arizona Republic. "I just want to finish my career here and hopefully the young guys here now understand why I am doing it, and put them in a better situation down the road."