Sedrick Ellis Signs $49 Million Dollar Contract

Tuesday, July 29th, 2008

First-round pick Sedrick Ellis agreed to a five-year deal with the Saints, General Manager Mickey Loomis confirmed. He will arrive in camp Wednesday.

Ellis deal is worth up to $49 million with $19.5 million in guarantees, according to league sources. The guaranteed money is the most important figure, since the total package includes some hard-to-reach incentives. The likely value is closer to $32 million. That’s typical of all the contracts signed by the picks ahead of Ellis, as well.

Ellis’ agent, Eugene Parker, said his client remained patient and confident throughout the process, while continuing to stay in shape in Tampa, Fla., at the same facility where he trained for his pre-draft workouts.

Parker declined to get into the specifics of the negotiations, but he said some of the difficulty stemmed from the future salary-cap issues facing the league, with the possibility that the owners may opt out of the current collective bargaining agreement.

Source: Sedrick Ellis and New Orleans Saints agree to contract
by Mike Triplett, The Times-Picayune
Tuesday July 29, 2008, 7:36 PM
Sedrick Ellis and New Orleans Saints agree to contract – Breaking News from New Orleans – Times-Picayune – NOLA.com