McCoy Officially Signed

Published: July 31st, 2010

McCoy needed that big contract to buy a full assortment of wooden legs to play on.
I waited until Gerald McCoy actually put his name on a contract before reporting this because “has agreed to terms” sometimes stretches out for a couple days. But it’s official now and McCoy is on the field.

McCoy’s deal is worth a maximum of $63 million, with $35 million guaranteed, according to NFL Network’s Jason La Canfora.

McCoy only signed a five-year deal, which is interesting and shows that he has some confidence in himself. He’s betting on his performance and choosing to go for the shorter contract so he can hit free agency a year sooner (assuming that the new CBA allows unrestricted free agency after five years) and get another blockbuster deal ahead of the rookies who are signing six-year contracts. But it runs counter to his stated goal of getting as much money as he possibly can. If he wanted to extract the largest sum from the Glazers right now, he could have gotten more up front by signing for six years. I’m guessing his agent let him know the benefits of signing a shorter-term contract. So all that stuff he said last week is pretty much out the window and he and I are starting lean here. I’m sure he’s very relieved to know that.

McCoy has the best of both worlds. He’s getting in on the last big payday for rookies and then he’s going to be able to take advantage of the extra money available for veterans when a rookie payscale is enacted and diverts funds to the older guys. It’s entirely possible that in less than ten years, McCoy will legitimately earn over $100-million. In other news, did you know that you can use those ketchup packets at McDonalds to fill up your ketchup bottle at home?

I’m on the phone with a guy right now who’s giving me some details about the practices today. I’ll try to write something up and have it online late tonight.