FIRST OF THE FIRST-ROUNDERS AGREES TO TERMS
A league source tells us that the Chicago Bears have reached an agreement with first-round draft pick Greg Olsen.
Olsen, the 31st overall selection in the 2007 draft, is the first first-rounder this year to come to terms.
The tentative terms, subject to change as the deal is fully ironed out, are as follows:
In 2007, he gets a signing bonus of $250,000, a $720,000 roster bonus, and a base salary of $285,000 in 2007.
The contract also has a one-time incentive based on minimum playing time of $578,700. For 2007, the trigger is 35 percent of the offensive snaps. For future years, it is 45 percent.
In 2008, there's an option bonus of $3.545 million and a base salary of $460,000.
In 2009, the base salary is $460,000, and Olsen is eligible for a $100,000 reporting/roster bonus that is earned at the start of training camp and paid out over the course of the regular season. (We'll explain the genesis of this new bonus later.)
In 2010, the base salary is $550,000, and the reporting/roster bonus is $140,000.
In 2011, the base salary is $650,000, and the reporting/roster bonus is $125,732.
The total value, including possible incentives of up to $2.921 million, is $10.69 million over five years.


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