Bears’ deal for new QB Mike Glennon isn’t financially burdensome
The details are important, especially when you’re saying goodbye to an eight-year starter at quarterback in Jay Cutler and replacing him with a backup for the last two seasons.
But the three-year contract that the Bears signed Mike Glennon to isn’t burdensome financially. If anything, it’s favorable for the team.
Here are some of the highlights of his contract as obtained by the Sun-Times:
* His contract is worth a total of $45 million, but the total guarantee is $18.5 million and most of that is for 2017. Glennon will get $16 million in 2017.
That $16 million includes a fully guaranteed base salary of $8 million, a $5 million roster bonus on the fifth day of the new league year and a $3 million signing bonus.
* Glennon’s deal includes incentives, which puts him in line with other deals that the Bears have done over the previous two years under general manager Ryan Pace and director of football administration Joey Laine.
Glennon can earn up $2.5 million in NLTBE (not likely to be earned) bonuses in 2017. The bonuses are based on playing time/teams wins or playing time/individual performance.
* Glennon has a $2.5 million roster bonus due on the third day of the 2018 league year. However, if Glennon reaches his bonuses in 2017, that roster bonus voids.
* Other highlights: Glennon has a $2 million roster bonus due in May of 2019. His base salary in 2018 and 2019 is set at $12.5 million, but that’s if he’s on the team.
* Essentially, this is a pay-as-you-go deal. Or call it year-to-year. The Bears have committed to Glennon as a starter for 2017. His $15 million annual average currently ranks 22nd among quarterbacks. But the Bears still want Glennon to prove his worth — hence, the bonuses and structure of the deal.