Breaking down Walden's Colts contract

Erik Walden's deal’s been the eyebrow-raiser so far in the AFC South.

The initial report on the value of the deal was from Packers beat man Bob McGinn, who said it was four years, $14 million. McGinn said Walden indicated interest from the Chiefs and the Raiders gave him some leverage in negotiations with the Colts.

Still, a friend who watches the Packers closely saw those numbers and judged them to be “outrageous.”

Now we can break down the deal.

Walden got a $1 million signing bonus and his deal includes a total of $8 million guaranteed -- the bonus, a $3 million base this season and a $4 million base in 2014. The contract also includes base salaries of $4 million in 2015 and 2016.

So his cap number is $3.25 million this season, and $4.25 million for 2014, 2015, and 2016.

Effectively, it could be a two-year, $8 million contract.

It still seems high for a guy who’s been a backup so far in his career.

But if he’s a bust it’s hardly a back-breaking contract for a team that has a lot of cap room. Before seeing detailed breakdowns on safety LaRon Landry and defensive lineman Ricky Jean Francois, the Colts have only four cap numbers north of $5 million in 2014.