The Patriots signed wide receiver Julian Edelman to a one-year contract on Wednesday, and, according to a league source, the value of the deal is tied directly to his production (and, in turn, his ability to stay) on the field.
Below are the full details of his contract.
Overall terms: 1 year, maximum value of $1.015 million (no guaranteed money)
Base salary: $715,000 (This includes a split, which means if Edelman were to go on injured reserve, his base salary would be reduced to $383,000)
Workout bonus: $50,000
Incentives tied to receptions: The following are the amounts Edelman would receive if he catches a certain number of passes:
30 receptions: $30,000
40 receptions: $70,000
50 receptions: $120,000
60 receptions: $180,000
70 receptions: $250,000
(Edelman would not collect the sum of each total he surpasses, just the greatest value. For example, f he catches 40 passes, he would earn an additional $70,000, not $30,000 for surpassing 30 catches and $70,000 for surpassing 40 catches).
QUICK-HIT THOUGHTS: This deal is all about production, clearly, and that is in turn related to Edelman's ability to stay healthy. He's shown progress as a wide receiver over his four seasons in the NFL, but he's yet to play a full 16-game season and is coming off a broken foot in 2012. It's still too soon to accurately project what Edelman's role will be within the new look receiving corps, but the team saw enough in him last training camp to make him an important part of the offense at the outset of the 2012 season. If Edelman, who has a dogged work ethic that earns the respect of his teammates, can continue to improve, surpassing his career high of 37 catches is well within his capabilities if healthy. As it relates to the Patriots, this is a low-risk move that allows them to retain a player who it has developed from a college quarterback into a three-phase contributor. If Emmanuel Sanders winds up as a Patriot as well, the receiving corps will have taken on a new look.