<
>

Jerod Mayo contract details: Patriots save $4.1 million in cap space

The New England Patriots and linebacker Jerod Mayo recently agreed to a contract restructure, creating $4.1 million in cap space for the team in 2015 by lowering his cap charge to $6.1 million.

Below is a closer look at the new deal, which includes $4.5 million guaranteed, including $3 million in a signing bonus, and a team option in both 2016 and 2017.

2015

Signing bonus: $3 million

Base salary: $1.5 million (guaranteed)

Incentives: Up to $1.8 million (tied to playing time, making the Pro Bowl and team qualifiers)

Cap value: $6.1 million

Cash value: $4.5 million

2016

Roster bonus: $4 million due on the first day of the league year if the team exercises his 2016 option

Base salary: $3.25 million

Roster bonus: Up to $500,000 ($31,250 for each game he is on the 46-man active roster)

Incentives: $300,000 for making the Pro Bowl

Workout bonus: $250,000

Cap value: $11.4 million

Cash value: $8 million

2017

Roster bonus: $2 million due on the first day of the league year if the team exercises his 2017 option

Base salary: $6.75 million

Roster bonus: Up to $500,000 ($31,250 for each game he is on the 46-man active roster)

Incentives: $300,000 for making the Pro Bowl

Workout bonus: $250,000

Cap value: $10.5 million

Cash value: $8 million

QUICK-HIT THOUGHTS: This further information reaffirms what our initial sense on the deal was when the restructure was agreed to -- 2015 will be a year for Mayo to prove he is fully healthy and also to re-immerse himself back into the defense. With a manageable cap number and a $4.5 million guarantee for 2015, he is a roster lock for this season. The team has flexibility on the final two years, and if Mayo returns to the form he showed earlier in his career, the team might be enticed to exercise one or both of the options despite an $11.4 million cap charge. A projected rising salary cap is another factor to consider, as that will afford teams more flexibility. For now, the focus for both sides is getting back to work on 2015.