Newly signed Patriot Patrick Chung will be making a decent lump of cash in 2014. Mike Reiss has the details.
Term: 1 year
Base salary: $740,000
Signing bonus: $60,000
Workout bonus: $60,000
Roster bonus: $240,000 ($15,000 per game based on being on 46-man roster)
Salary-cap charge: $1.04 million
I didn’t like this signing, and now I don’t like it even more. A cap charge of over $1 million for a player like Chung is kind of ridiculous. As of right now, I think Chung would be the fourth safety on the depth chart. Him earning potentially over $1 million is a little puzzling.
Here are Reiss’ thoughts:
This deal comes in a little bit higher than anticipated, as Chung can collect $120,000 between workout and signing bonuses even if he doesn’t make the club. It reflects, from this view, some form of competition in signing him. The projection was that his deal would have been closer to a minimum-salary benefit, which would have cut the salary-cap charge almost in half. Still, it’s far from a bank breaker for a player who faces competition to earn a roster spot.