Wake’s Contract Not Worth As Much As Originally Thought
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MIAMI (CBSMiami) – The Miami Dolphins rewarded outside linebacker/defensive end Cameron Wake with a lucrative contract over the weekend with a reported value of $49 million with $20 million guaranteed. The real numbers are a little different.
According to the Palm Beach Post and profootballtalk.com, the deal was actually for $17 million guaranteed upon signing and has a base value of $33.865 million. The numbers work out as follows.
Wake gets a signing bonus of $7 million, fully-guaranteed base salary of $615,000 in 2012, $3.565 million in 2013, and $5.82 million in 2014.
His base salary in 2015 is $8.2 million, $3 million is guaranteed for injury only as of now. The Dolphins will then either pick up the option, decline to pick it up and make him a free agent, or ask him to renegotiate his contract. In 2016, Wake’s base salary isn’t guaranteed and jumps to $8.275 million.
Wake receives workout bonuses of $50,000 in 2012 and 2013, $65,000 in 2014, $100,000 in 2015, and $125,000 in 2016. He also has up to $5 million in escalator clauses based on the number of sacks he gets.
With high cap numbers coming when Wake is approaching his mid-30’s, the deal may not make it past 2014. If it doesn’t, the deal is essentially three-years with a base value of around $17 million.