Freaking out tends to be one of the favorite pastimes of Carolina Panthers fans. So when it was earlier (and incorrectly) announced Jerricho Cotchery signed a two year, $5 million contract -- that's what we did.
Details of the contract have now been released and it might surprise you to hear it's far longer than expected. The total value of the deal is five years, $8.015 million. On the surface that might seem like a lot, but NFL contracts are rarely as they seem.
Here's how the deal is broken down, per Rotoworld:
$2.25M signing bonus, prorated over five years = $450K per year.
2014: $1.25M + $450K = $1.7M cap hit
2015: $1.45M +$450L = $1.9M cap hit
Note: Years 2016-18 are voidable years. Meaning, yeah... he wont be with the team.
2016: $1M + $450K = $1.45M cap hit
2017: $1M + $450K = $1.45M cap hit
2018: $1M + $450K = $1.45M cap hit
If/when the Panthers cut him in 2016 they're on the hook for a cap hit of under $1.5M. Barely anything in the scheme of things. It's a fantastic deal for a semi-productive wide receiver that allows him to contribute immediately and be released when he wears down.
Sure there will be a minor cap hit, but it's nothing given the rising cap.