Saints Cut New Deal With Reggie Bush
Scout.com has learned that the New Orleans Saints and running back Reggie Bush quietly renegotiated his contract in early June. The team included a $4 million signing bonus as part of the new deal, which runs through 2011, and a $4.5 million roster bonus for the 2009 season.
Bush had four years remaining on his original deal with $10.25 million in salary and $10 million in prorated bonus money scheduled spread out through 2011. But he also had $20 million dollars of “Not Likely to Be Earned” bonuses at a rate of $5 million per year that didn’t count against the Saints’ cap unless he reached those incentives.
Under his new deal, which also runs through 2011, Bush will see practically all of that money as long as he plays out his contract.
While his salary stays the same in 2008, he’ll see a marginal increase in 2009 ($2.2 million to $2.6 million) before making a huge jump from $2.9 million to $8.0 million in 2010. And in 2011, he will receive $11.8 million in salary instead of the $3.575 million that was in his original contract. In addition to the $4 million signing bonus, which adds an extra million dollars to the Saints cap hit for each of the remaining four years, Bush will still have the opportunity to earn $1.5 million in NLTBE bonuses. And he can earn $800,000 more in 2011. But all other NLTBE bonuses have been eliminated.
Instead, the team has put up $1.5 million in “Likely to be Earned Bonus” money for both the 2009 and 2010 seasons, and another $700,000 in 2011. All of that money hits the cap immediately when the contract year begins since it’s assumed that the player will reach those goals.
Read the entire article: Scout.com: Saints Cut New Deal With Reggie Bush
