Jay Signs 5 Year Deal, Wanny Gets.... | Page 2 | FinHeaven - Miami Dolphins Forums

Jay Signs 5 Year Deal, Wanny Gets....

the only 2 #'s that matter are:
  1. the signing bonus and length of the contract
  2. first years salary
    [/list=1]

    the 2002 cap figure is pretty small, but we will be paying for the $4 mil bonus even if we cut Jay. The total contract is not really that important.
 
Jays Contract Numbers.......

These numbers are very friendly for us. I hope he meets his incentives because if he does that should mean team success. That is all want, right. If he doesn't meet them, well we are not cap strapped with his salary. Very good job by Speilman. Now go get a RB, fill the OL holes and get a TE that can catch and block.

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Dolphins keep QB Fiedler with 5-year, $24.5 million deal
Feb. 13, 2002
SportsLine.com wire report

MIAMI -- Quarterback Jay Fiedler decided against testing the free-agent market and instead signed a five-year, $24.5 million contract to remain with the Miami Dolphins.

The deal through 2006 was announced Wednesday.

The Dolphins also announced coach Dave Wannstedt signed a one-year contract extension through 2004.

Had Fiedler pursued free agency, the Dolphins could have kept him by matching any offer.

Fiedler, 30, is 21-10 in two seasons as the Dolphins' starter and has led them to the playoffs each year. In 2001 he threw for 3,290 yards with 20 touchdowns and 19 interceptions, and in the final seven regular season games he threw 11 touchdown passes with just four interceptions, one of the league's best ratios.

His contract includes a $4 million signing bonus. He'll makes the NFL veteran minimum of $525,000 in 2002 and could make another $500,000 in incentives. In first 14 months of the deal, Fiedler could earn $7 million in bonuses.

The Dolphins have an option for the fifth year that must be exercised after 2003 season.

Fiedler's re-signing will likely put an end to speculation that Troy Aikman might come out of retirement to play for Miami.



AP NEWS
The Associated Press News Service

Copyright 2002, The Associated Press, All Rights Reserved

NFL.com
 
CBS breakdown of contract with comments...

Dolphins keep QB Fiedler with 5-year, $24.5 million deal

Feb. 13, 2002 SportsLine.com wire reports

MIAMI -- Quarterback Jay Fiedler decided against testing the free-agent market and instead signed a five-year, $24.5 million contract to remain with the Miami Dolphins.

The deal through 2006 was announced Wednesday.....

His contract includes a $4 million signing bonus. He'll makes the NFL veteran minimum of $525,000 in 2002 and could make another $500,000 in incentives. In first 14 months of the deal, Fiedler could earn $7 million in bonuses.

The Dolphins have an option for the fifth year that must be exercised after 2003 season.

Fiedler's re-signing will likely put an end to speculation that Troy Aikman might come out of retirement to play for Miami.

******

1) Miami takes NO CAP HIT in 2002 with this contract and may actualy SAVE cap. The first year of the new deal is $550 k base and $800k pro-rated bonus for a total of $1.35 mil. Under the both the old and the new contract, the cap must also include last years incentive payments. Thus, if Jay's projected base and bonus for 2002 under the old contract was more than $1.35 mil, then Miami saves cap.

2) Spielman managed to get Fiedler to take incentives rather than bonus money. $4 mil is NOTHING for a bonus in a long term contract. Thus, if Fiedler performs like a $5 mil QB, he will get paid like one next year. However, if Jay crashes and burns like the Fiedler haters have predicted since he arrived, Miami can keep the incentives by becnhing him as a backup and won't take much of a cap hit if they cut him outright for the next Marino.

Spielman just earned that raise he was given a couple months ago!
 
excellent FinForce99

welcome a-board !

where in our lovely state are you from ?

P.S. for those who thought that Jay got a $5 mil a year deal read: http://nfl.kffl.com/news/hotwire/teams/mia.shtml

ESPN's Hank Goldberg reports the Dolphins must decide after two years whether or not they want to exercise a bonus clause for the fifth-year of the deal. If they don't, the deal will only be worth about $3 million per year over four years instead of nearly $5 million per year over five.
Click to expand...
 
It is a good move. On the surface it looks like 5 mill a year, but the way it is structured makes it in line with what we can afford.

Like someone just said, if he plays like a 5 million dollar QB, he;ll get paid like one. Good enough for me.
 
Very Cap Friendly

Understand the terms of the deal before making an opinion.
This is not a 5 yr 24.5 million dollar deal, unless Fiedler would turn out to be a Superstar, in which case he would be worth it.

In reality it looks like the Dolphins have several outs with a minimal cap hit...and basically a 2 year deal with a team Option from there on out.

The onus is on Jay to play well...

considering the alternatives...its probably a real good deal
for both parties.
 
Robert - I hope Jay can stick out only so that you do not start building up a long list in your sig. of QBs since Dan ;)
 
I was in school today when my friend checked ESPN and told me the awful news. I went to check the website as I didn't believe him and it was true. The Dolphins not only signed Fiedler, but they are giving him way too much money. I think 3 million is too much for him, let alone 5. This is one of the worst signings I have ever seen.
 
Ice, sorry man but i think you are wrong.
i think that all these previous posts show that not only is it cap friendly for the team, but Jay and his agent basically said "thanks for giving me a chance in this league, to show you how much I appreciate that and want to help this team, whether I am on it or not, if I don't reach certain incentives you don't have to pay me the big bucks, and if I really suck you can get rid of me for very little money.Okay? But, If I do play well then you pay me what I earn."
Can't beat dat!
 
For a guy who was out of the league as recently as 1997, and who had started just one regular-season game before 2000, the contract Fiedler agreed to represents a quantum leap toward fiscal security.

Upon closer inspection, though, the five-year, $24.5 million contract also provides the Dolphins a good bit of security as well. Certainly the Dolphins have a variety of options regarding the deal.

Given the structure, the contract could be as short as two years and its value reduced to $6.525 million, and Miami could terminate it after that with only minimal salary cap impact.

Fiedler will receive a $4 million signing bonus and his base salary for the 2002 season is $525,000. The team must pay him roster bonus of $1.25 million in March of 2003 and his base salary for that year is $750,000.

At that point, Miami officials have some decisions to make, and those probably will be based on how Fiedler performs in the 2002-2003 campaigns. At the end of the 2003 season, Miami has to pay Fiedler an additional bonus of $2 million to exercise its option on the contract’s fifth year, the 2006 season.

But the franchise must also decide if it wants to keep Fiedler for 2004, when his base salary rises to $3.7 million. The base salaries continue to escalate dramatically, to $5.775 million in 2005 and to $6.5 million in 2006, assuming the Dolphins exercise their option for season.

Said one team source: "(The contract) could be for two years, or five years, or something that's in between. There are all kinds of possibilities."

-- Len Pasquarelli
 
thank you dejesus...........

for clearing that up. at this moment in time, i didn't think he was worth 5 mil!:eek:
 
Jay must be the biggest idiot on the face of the planet or Speiman is a genius. Bottom line he is playing this season for the same amount of money he was slated to make before he opted out of his contract if not less. Salary of 525,000 and 4 mill divided in to 5 years is just a little less than 1.25 mill. He basiclly singed a 2 year deal at the league minimum w/a 4 mill signing bonus. If he is on the team after the 2nd year of the contract he will get 6 mill for that season. There is a better chance that Miami will get a 6 feet of snow this winter then Jay returning for his 3 rd year. The only way he will be back if he all of sudden inherrits Brett Farve's right arm. I mean think about it Miami has a qb they are grooming for the future, Jay will be 34 in 2 years, and this also leaves the option to draft a qb this season or next and let him have a year or 2 tp prepare. Jay's agent is a moron he gave him no protection from getting cut, and Jay will has no bargaining power when the 2 years are up since he will be passed his prime. Way to go Rick!
 
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