In a move that was widely expected, the Chicago Bears have agreed to a contract with quarterback Mike Glennon. Early numbers are reported as 3 years, $45 million, with $18.5 million guaranteed.
His per year average places him in the bottom third of starting QB salaries, right below Andy Dalton’s $16M and right above Robert Griffin III’s $7.5M.
But that’s still a lot of money for a guy that hasn’t started a game since 2014.
The bright side is that the guarantee is structured to all be mostly paid out in the 1st or season. So, if he’s not proving to be worthy, or if he’s outplayed, Glennon may never see the 2nd or 3rd year of his contract.
This type of three year deal doesn’t scream long term solution, it gently, albeit expensively, says, ‘we’ll give you a chance to start and to keep the job, but we’re still going to bring in a young quarterback.’
That QB may be early in the 2017 NFL Draft, it may be a late round project, or it may be a guy in the 2018 NFL Draft. Time will tell.
With Glennon in the fold, he joins Connor Shaw as the only QB under contact in Chicago.
If you have some time check out Glennon on Jon Gruden’s QB Camp from before he was drafted.
And here’s a scouting report from back in 2013.
After the initial shock about signing the Bucs back-up to starter money wore off, this deal started to make sense.
Mike Glennon got exactly half the guaranteed money that Brock Osweiler did. And the #Bears can get out painlessly after 1 year, not 2.— Tom Pelissero (@TomPelissero) March 10, 2017
Essentially, Glennon’s contract is worth $16 mill in first year. But has total guarantee of $18.5 mill. #Bears got pay as you go deal.— Adam Jahns (@adamjahns) March 10, 2017
It's a good deal for #Bears as they can escape the contract quickly if needed.— Brad Biggs (@BradBiggs) March 10, 2017
Mike Glennon receives $3M signing bonus.— Brad Biggs (@BradBiggs) March 10, 2017
17 base $8M, 17 roster bonus $5M
18 base $12.5M, 18 RB $2.5M
19 base $12M, 19 RB $2M
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