NGATA IT IS!  Breaking down Haloti Ngata’s new deal

Salary Cap NGATA IT IS! Breaking down Haloti Ngata’s new deal

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As media reports continue to filter in, the size and scope of DT Haloti Ngata’s newly signed contract extension are coming more into focus.

Based on a variety of sources, it appears that Ngata’s new deal is worth a total of $61M over 5 years, with $40M of that amount being guaranteed.  He’ll receive a signing bonus of $25M and an Option Bonus in 2012 of $10M.  All of the $40M in guaranteed money will be paid out over the first two years of the deal, with $27.1M of that being paid in 2011.  Lastly, reports indicate that he will receive a 2012 base salary of $2.9M.

There is, however, some conflicting information about Ngata’s 2011 base salary.  Some reports indicate that his base salary will be $2M, while others say that he will “make” around $2M in base salary this year.  There is actually a difference in the way those are explained because Ngata has already been paid for the first two weeks of this season – making $1.468M (2/17ths of his franchise tag of $12.476M). 

Based on all of the numbers reported, it appears that the second explanation – “that he will make around $2M in base salary this year” – is more accurate.  That would mean that his base salary for the remainder of the season is likely around the veteran minimum for a player with 5 years of service time of $685K.  He will now receive 1/17th of that amount each week or 15/17ths of that amount for the remainder of the season ($604K).

That would seem to jive with the other reported numbers – he’ll make “around $2M in salary for 2011” (actually, $2.072M) and $27.1M in 2011 ($25M + $1.468M + $604K = $27.074M).  Those numbers would also equal the reported $40M to be paid in the first two years of the deal.

Prior to the new contract, Ngata’s Salary Cap number was $12.476M.  With this new deal, Ngata’s Cap charge will be reduced to $7.074M  –  the $1.468M already paid + $5M ($25M bonus/5) + $604K (15/17ths of $685K base salary).

So, if these numbers are more accurate, the team has created $5.402M in Cap space for this year by reaching this contract extension.

Year

Signing Bonus

 Option Bonus

Base Salary

Cap Charge

2011

25,000,000

 

2,072,177

7,072,177

2012

 

10,000,000

2,900,000

10,400,000

2013

 

 

TBA

TBA

2014

 

 

TBA

TBA

2015

 

 

TBA

TBA

That leaves $21M to be paid as base salary over the final 3 years of the deal – likely something along the lines of $5M (2013), $7M (2014) and $9M (2015).

All in all, it appears to be a fairly good one for both Ngata and the Ravens.  The just over $12M per year average for the deal is a very fair rate for Ngata and well below the $15M per year average received by Bears DE Julius Peppers, the highest paid defensive player in the league. 

 

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Brian McFarland

About Brian McFarland

Known on Ravens Message Boards as "B-more Ravor", Brian is a life-long Baltimorean and an avid fan of the Ravens and all Baltimore sports.  A PSL holder since 1998, Brian has garnered a reputation as a cap-guru because of his strange (actually warped) desire to wade through the intricacies of the NFL's salary cap and actually make sense of it for those of us who view it as inviting as IRS Tax Code.      Brian, who hails from Catonsville, MD and still resides there, is married and has two children. More from Brian McFarland

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