Earlier today we got a good breakdown of some of the bonus money tied into Michael Floyd's contract by one of our favorite beat writers, Ben Goessling. In the piece, Ben pointed out that there are significant escalators written into the contract. I thought it be nice to go over these.
To continue the reclamation theme from yesterday, Michael Floyd signed a one-year contract with the Minnesota Vikings back on May 10. He is a very young veteran (27) and should be in his prime, and a former first-round pick out of Notre Dame that grew up in Minnesota. We have all heard his story, and hope that the return home helps him reclaim his career and his life after some previous troubles to include an extreme DUI arrest earlier in December. Eric wrote about the signing at the time.
It looks like the numbers have come out finally and here’s how they break down:
- He will have a $1,160,000 non guaranteed base contract. To earn that, he will need to make the 53 man roster. If he does not the only cost to the Vikings will be prorated checks for players for participating in off-season activities.
- By making the 53 man roster, you will also receive a $15,625 per game bonus that could equal as much is $250,000. Though I fully suspect he will make the roster as the#3 or #4 wide receiver, I doubt he makes the full $250,000 due to the fact that he will probably be suspended for two to four games due to his DUI. I suspect it’l be more likely the latter in total number of games, due to the fact that we are the Minnesota Vikings and it is Roger Goodell who will be deciding. [I will save my dislike for Roger Goodell for a later post.]
- So now if you are a money guy playing at home, Michael, for just being on the roster for every game can earn up to $1,410,000. There are performance escalators added as well that should raise his salary. The first of which adds an additional $1,500,000 if he achieves one of the following three benchmarks. If he catches at least 40 receptions, or exceeds 500 yards and receptions, or catches at least 6 touchdowns, that additional money will be earned. That brings his total to a maximum of $2,910,000 for the year. While looking at the next set of incentive numbers, I anticipate this will be the actual maximum amount Michael Floyd will cost the Minnesota Vikings.
- The final set of escalators can earn him $4,500,000 instead of the $1,500,000 bonus at the lower performance level. They kick in if he achieves one or more of these three milestones; he catches at least 70 receptions, or hits 1,000 yards in receptions, or catches 12 touchdowns or more. So the maximum total possible theoretically could be $5,910,000.
I fully doubt that he will cost the Vikings that much, but if he does, that is outstanding because it would mean he is being extremely productive, which is great for the team and fantastic for reclaiming his reputation. It also means that we are probably winning a lot of games and well on our way to the playoffs. My doubt comes into play concerning not only the suspension that will likely happen, but at his ability to reach the highest level of performance bonus. Looking back at his career stats, he is achieved only a maximum of six touchdowns, has had only one 1,000 yard plus season, and has never caught 70 receptions. Let’s hope he does!
PS - I thought about adding a video of one Ted Glover’s favorite bands here, ABBA and “Money, money, money”. Ted is up fishing in Canada so I’ll save the rest of us from his disco fetish. LOL.