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PFT: Breaking down Sanchez's "lipstick and powder" contract


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Breaking down Sanchez’s “lipstick and powder” contract

Posted by Mike Florio on March 10, 2012, 1:22 PM EST

Yes, Jets quarterback Mark Sanchez will earn $20.5 million in guaranteed money in 2012 and 2013 as part of his new contract. The fact, however, that Sanchez already was due to earn $17.75 million over the next two seasons has prompted one league source to characterize the move as a “lipstick and powder” deal.

For an extra $2.75 million, Sanchez gave the Jets three straight option years, allowing the team to keep him if he finally realizes his full potential — and to cut him without further investment after the 2013 season, the 2014 season, or the 2015 season.

The contract also could be called a glorified restructuring. Per a source with knowledge of the details, Sanchez’s $11.75 million base salary for 2012 has been converted to an $8 million signing bonus, a fully-guaranteed base salary of $3.25 million, and a $500,000 workout bonus.

The move creates $6.4 million in 2012 cap space.

In 2013, Sanchez will receive a fully-guaranteed base salary of $8.25 million. In 2014, Sanchez is due to receive a $2 million roster bonus on the 15th day of the league year and a non-guaranteed $9 million base salary. In 2015, there’s another $1 million roster bonus due on the 15th day of the league year, plus a non-guaranteed base salary of $12.5 million. In 2016, Sanchez is due another $1 million roster bonus on the 15th day of the league yeaar, plus a base salary of $10.75 million. Workout bonuses of $500,000 apply in each year of the deal.

The contract contains $10 million in potential escalators, based in part on Super Bowl appearances and/or victories.

Given the organization’s apparent mixed feelings about Sanchez, getting the extra money and converting all of it to a guaranteed payment was a good career move. He could have been dumped after 2012, with the $6 million due next year forever gone.

Still, it likely wasn’t an accident that the news of this one came late on a Friday night. It’s hardly a big-money, long-term commitment.

Which actually will be regarded by plenty of Jets fans as good news.

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Sounds a lot better, always have to wait for the details to emerge before you can scrutinize these contracts. We all hear the '50mill contract extension' sound bite and get pissed. Reading this makes me feel a lot better about the extension and the cap space. Let's just hope it clicks for him, because he'll be here for a while. Ugh

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Mikey T is a genius.

It's not just the cap space. IF Sanchez was a mortal lock to be the starter in 2013 this makes little difference except for the $4.8M in dead cap space that accelerates to 2014 instead of being free and clear of his rookie deal. The problem is they are saying Sanchez, no matter how badly he may play, is the starting QB this year and next year because the dollars say so. No credence is given to the possibility of anyone brought in (or drafted) being a better QB. That is just idiotic and short-sighted given his laundry-list of shortcomings after 3 years as the starter. There will be no drafting of a QB this year or next year. There will be no examination of available FA QBs (or trades for any) this year or next year. If the opportunities for a new signalcaller are limited in 2014 he's effectively guaranteed a 3rd season.

It's one thing to say it's nice that the franchise shows loyalty and belief in their guy and all that. It's quite another thing to do that to a player who is struggling and who regressed (by the team's own admission), and who has already been coddled (this only reaffirms the last point). And don't think the rest of the team doesn't know it.

The message is that everyone on the team has to perform week in & week out except Mark Sanchez and Santonio Holmes. Bravo.

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I posted this in a different thread, but it probably belongs here.

IF Florio's contract break down is correct, 8 million signing bonus (that gets spread out over the 5 years, meaning a cap hit of 1.6 million each year), a .5 mill roster bonus, and a 3.25 mill base salary, if you add that up for 2012 it's a cap hit of 5.35 mill in 2012, and according to Jasons cap page Sanchez had a cap hit of 14.25, so if I'm correct, and Florio's contract info is correct it's a cap saving of 8.9 mill, not 6.4, Florio just took his salary from 2012 before the restructure not accounting for his prorated bonus, and roster bonus that counted towards the cap. His 2013 cap hit will be 10.35 mill, and then if Sanchez continues to suck they can cut him with a dead money charge of 4.8 mill, but still saving 8.3 mill in cap space in 2014. In 2015 they can cut him with a dead money charge of 3.2 mill, and a cap savings of 10.8 mill. In 2016 they can cut him with a dead money charge of 1.6 mill, and a cap savings of 10.65 mill.

I could be wrong hopefully Jason will break it down better as soon as he gets the exact details, but I think that's the gist of it, and if it is correct it really is a very low risk, high reward type deal, Mark was gonna be the man in 2012, all this does is guarantee him the job 1 more year, and to be honest as a Jets fan what the hell is one more year of suck if that's what happens with him were used to it.

Also these cap numbers could rise a couple million if Sanchez hits his escalator clauses, nut that's really nothing to be concerned about as a Jets fan cause if he does hit them we will be lining the canyon of heroes never worrying about what we pay Mark ever again!

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It's not just the cap space. IF Sanchez was a mortal lock to be the starter in 2013 this makes little difference except for the $4.8M in dead cap space that accelerates to 2014 instead of being free and clear of his rookie deal. The problem is they are saying Sanchez, no matter how badly he may play, is the starting QB this year and next year because the dollars say so. No credence is given to the possibility of anyone brought in (or drafted) being a better QB. That is just idiotic and short-sighted given his laundry-list of shortcomings after 3 years as the starter. There will be no drafting of a QB this year or next year. There will be no examination of available FA QBs (or trades for any) this year or next year. If the opportunities for a new signalcaller are limited in 2014 he's effectively guaranteed a 3rd season.

It's one thing to say it's nice that the franchise shows loyalty and belief in their guy and all that. It's quite another thing to do that to a player who is struggling and who regressed (by the team's own admission), and who has already been coddled (this only reaffirms the last point). And don't think the rest of the team doesn't know it.

The message is that everyone on the team has to perform week in & week out except Mark Sanchez and Santonio Holmes. Bravo.

Mehta suggested that the team could get ditch Sanchez with little penalty after 2012...I know nothing about the cap, is that true?

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We drafted the kid in the first round, knowing he had very little college experience.

Is it really that far-fetched to commit to him for five years?

He has playoff experience, and can efficiently run a Ground & Pound offense.

We save money this year, and have commited only $8.25M to his salary next year before he can be cut without consequence.

Isn't $8M a middle-of-the-road salary for a starting QB?

If you don't like Sanchez, that's fine...we get it. But these financials don't prohibit drafting anyone next year, and letting him sit on the bench for a season.

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It's not just the cap space. IF Sanchez was a mortal lock to be the starter in 2013 this makes little difference except for the $4.8M in dead cap space that accelerates to 2014 instead of being free and clear of his rookie deal. The problem is they are saying Sanchez, no matter how badly he may play, is the starting QB this year and next year because the dollars say so. No credence is given to the possibility of anyone brought in (or drafted) being a better QB. That is just idiotic and short-sighted given his laundry-list of shortcomings after 3 years as the starter. There will be no drafting of a QB this year or next year. There will be no examination of available FA QBs (or trades for any) this year or next year. If the opportunities for a new signalcaller are limited in 2014 he's effectively guaranteed a 3rd season.

It's one thing to say it's nice that the franchise shows loyalty and belief in their guy and all that. It's quite another thing to do that to a player who is struggling and who regressed (by the team's own admission), and who has already been coddled (this only reaffirms the last point). And don't think the rest of the team doesn't know it.

The message is that everyone on the team has to perform week in & week out except Mark Sanchez and Santonio Holmes. Bravo.

Sperm you can spin it any way you want, but Sanchez is their best option for the next 2 seasons plain, and simple, if the FRONT OFFICE (not you, not other fans, not me, and not the other players on the team) thinks Sanchez is a franchise QB, there is no reason to bring in competition wasting more cap space on a back up QB, the old saying if you have 2 QB's you really have none. No franchise QB needs to be pushed with competition plain, and simple Brees, Rodgers, Eli, Peyton, Cutler, Brady, Ben, Rivers, Stafford, Flacco, Ryan, have never had a QB behind them that had them say man I gotta step it up, they are franchise QB's who do this on their own by sheer determination. All the Jets did here was tell Sanchez you are no competing with yourself for the next 2 years to prove you are a franchise NFL QB, and if you don't you are throwing away 30 million, and GL getting that back if we think you suck, and won't pay it, this achieves both IMO of creating sense of urgency on Sanchez' part, and taking the kid gloves off dealing with him making him held accountable for his play for the next 2 seasons, this will also be done by Sparano treating him the way Parcells treated his QB's, it's up to Mark to straighten up or fold.

Like I said spin it any way you want, but I believe your wrong, and respectfully disagree, I'm not gonna get into another week long argument with you over Mark again like last time so I'm just gonna leave it as this is my stance on this issue. Here is to 2012 ending in the Canyon of Heroes no matter how it happens.

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It's one thing to say it's nice that the franchise shows loyalty and belief in their guy and all that. It's quite another thing to do that to a player who is struggling and who regressed (by the team's own admission), and who has already been coddled (this only reaffirms the last point). And don't think the rest of the team doesn't know it.

The message is that everyone on the team has to perform week in & week out except Mark Sanchez and Santonio Holmes. Bravo.

Harumph Harumph!!!!

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Sperm you can spin it any way you want, but Sanchez is their best option for the next 2 seasons plain, and simple, if the FRONT OFFICE (not you, not other fans, not me, and not the other players on the team) thinks Sanchez is a franchise QB, there is no reason to bring in competition wasting more cap space on a back up QB, the old saying if you have 2 QB's you really have none. No franchise QB needs to be pushed with competition plain, and simple Brees, Rodgers, Eli, Peyton, Cutler, Brady, Ben, Rivers, Stafford, Flacco, Ryan, have never had a QB behind them that had them say man I gotta step it up, they are franchise QB's who do this on their own by sheer determination. All the Jets did here was tell Sanchez you are no competing with yourself for the next 2 years to prove you are a franchise NFL QB, and if you don't you are throwing away 30 million, and GL getting that back if we think you suck, and won't pay it, this achieves both IMO of creating sense of urgency on Sanchez' part, and taking the kid gloves off dealing with him making him held accountable for his play for the next 2 seasons, this will also be done by Sparano treating him the way Parcells treated his QB's, it's up to Mark to straighten up or fold.

Like I said spin it any way you want, but I believe your wrong, and respectfully disagree, I'm not gonna get into another week long argument with you over Mark again like last time so I'm just gonna leave it as this is my stance on this issue. Here is to 2012 ending in the Canyon of Heroes no matter how it happens.

So the front office is shrewd and knows all when they re-sign Sanchez but they're blithering idiots when those same people use that same personnel judgment to (at the time) make Calvin Pace the league's highest-paid LB, Bart Scott the league's highest-paid ILB, then David Harris the league's highest-paid ILB and reward Santonio Holmes with a $50M contract with the first 3 years guaranteed.

You do NOT know that he is the best option for the team for the next 2 years. You HOPE he is. Truth is you have never seen him beat out any legitimate NFL QB for a job so you cannot say he is the best option over anyone except Kellen Clemens, Mark Brunell, Kevin O'Connell, and Erik Ainge. So talk about spin any way you want to spin it. If he's so great, then why not let him beat out just one legitimate backup QB - a feat he's never accomplished - before guaranteeing him anything?

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Talk about idiotic, name a single #2-backup-level NFL QB that Mark Sanchez has beaten out for a job.

I see, you want the Jets to be the JEtskins again

Beck and Grossman duking it out all year, rather than having a clear cut leader.

Sanchez for better or worse was this teams choice early in the draft. He was going to get the nod for another year. If he sh*ts the bed this year, then by all means, move on.

Bringing in a Jason Cambell type having the New York media all over every single play, wanting a QB controversy doesn't make this team better, it makes them the Jetskins.

Pass

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Except what legit backup QB will want to come here since there is no chance to be the starter for 2 years (the likely length of a backup QB's contract) any more than there is in Green Bay.

Watch us re-sign Brunell.

Does it decrease likelihood of a Henne type from signing with the Jets? Maybe, depends on $$.

But I think its safe to say that if Sanchez plays poorly next year, that a Henne-type would be given the opportunity to take-over, regardless of this "extension" for Sanchez.

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I see, you want the Jets to be the JEtskins again

Beck and Grossman duking it out all year, rather than having a clear cut leader.

Sanchez for better or worse was this teams choice early in the draft. He was going to get the nod for another year. If he sh*ts the bed this year, then by all means, move on.

Bringing in a Jason Cambell type having the New York media all over every single play, wanting a QB controversy doesn't make this team better, it makes them the Jetskins.

Pass

You're right. The Redskins should have guaranteed Grossman $20M for the next 2 years to avoid that camp duel. If they'd only done that then Grossman would have been better and they'd have won the SB. Pure genius.

You are avoiding the challenge question. Name a QB you would be happy to have as our #2 QB who Mark Sanchez beat out to earn a starting job. It's a simple question.

I can only come up with Kellen Clemens, Erik Ainge, Kevin O'Connell, and Mark Brunell. What not-even-a-mediocre-backup-QB has he beaten out for a starting job?

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Does it decrease likelihood of a Henne type from signing with the Jets? Maybe, depends on $$.

But I think its safe to say that if Sanchez plays poorly next year, that a Henne-type would be given the opportunity to take-over, regardless of this "extension" for Sanchez.

Well then Sanchez is eating up $13M of our cap in 2013 to be the backup QB, which is twice as much space as was created in this one season by the guarantee. Oh yeah, and he costs another $5M to cut before the 2014 season. So if he got beat out by Henne, in your example, then the Jets just signed on for $18M in cap space from 2013-2014 for Sanchez to be the backup in 2013.

This is ONLY a good move is Sanchez suddenly becomes an excellent QB next season.

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You're right. The Redskins should have guaranteed Grossman $20M for the next 2 years to avoid that camp duel. If they'd only done that then Grossman would have been better and they'd have won the SB. Pure genius.

You are avoiding the challenge question. Name a QB you would be happy to have as our #2 QB who Mark Sanchez beat out to earn a starting job. It's a simple question.

I can only come up with Kellen Clemens, Erik Ainge, Kevin O'Connell, and Mark Brunell. What not-even-a-mediocre-backup-QB has he beaten out for a starting job?

He's our starter...I don't think Mark should have to beat anyone out at all...he has earned it

Yes, he was not good last year..but alot of you guys forget 2010 quite easily

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Now THAT is an idiotic statement. If he was good or great then he shouldn't have to. He is neither.

Clearly you like Mark Sanchez more than you like the Jets.

No, I trust the guys in our organization to make the right decisions

We're not there every day seeing what's going on

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