On Tuesday, wide receiver Jeremy Kerley signed a four-year contract extension with the New York Jets. The initial reports said the deal was valued at $16 million, but it's actually $14 million in new money, according to ESPN Stats & Information. It includes a $3 million signing bonus; $3.84 million is fully guaranteed at the time of signing.
Here's a breakdown:
2014: Remaining base salary from previous contract ($841,000) is now guaranteed. Cap charge: $2.08 million.
2015: A $2 million base salary ($1 million guaranteed for injury only at the time of signing; it becomes fully guaranteed on the fifth day of the league year. Cap charge: $2.6 million.
2016: A $2.5 million base salary. Cap charge: $3.1 million.
2017: A $3.0 million base salary. Cap charge: $3.6 million.
2018: A $3.5 million base salary. Cap charge: $4.1 million.