On Tuesday, veteran safety Adrian Wilsonagreed 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.
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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.
Though Wilson has gone to the Pro Bowl after four of the last five seasons, his renegotiated contract reflects his advancing age and his desire to remain with the club.
"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."
