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Its pending a physical later this week according to Adam Schefter.
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Cincinnati Bengals rookie quarterback Joe Burrow is on the verge of finalizing his first NFL deal.
The recent No. 1 overall pick agreed to terms with the Bengals for his four-year rookie contract worth $36.1 million on Tuesday, a source told ESPN's Adam Schefter. The contract is pending a physical that will occur later this week.
Burrow is expected to receive the entirety of his $23.9 million signing bonus within 15 days of an executed contract. Burrow and second-round pick Tee Higgins are the lone Bengals who did not have deals signed as Cincinnati's veterans reported to the team facility on Tuesday.
The Bengals selected Burrow with the top overall pick in April's draft after the Bengals finished with the league's worst record in 2019. Burrow won the Heisman Trophy and led LSU to a national championship.
Even without a contract with the Bengals, Burrow has spent the offseason preparing to potentially be the team's starting quarterback on Week 1. In addition to participating in the team's virtual workouts, he conducted throwing drills near his childhood home in southeast Ohio. Recently, Burrow has been spotted working out in Cincinnati with new teammates Sam Hubbard, Drew Sample and Freedom Akinmoladun in anticipation of the team's training camp.
In his final season at LSU, Burrow set the Football Bowl Subdivision record for most passing touchdowns in a single season. He finished the year with a 76.3 completion percentage, 5,671 passing yards, 60 touchdowns and six interceptions.
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So in 2 weeks young Joey will be a multi-millionaire. And, evidently with him getting that much up front, he won't hurt us to bad in the remaining years of this 1st contract.
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(07-28-2020, 02:30 PM)Sled21 Wrote: So in 2 weeks young Joey will be a multi-millionaire. And, evidently with him getting that much up front, he won't hurt us to bad in the remaining years of this 1st contract.
Lol, you act like this is something new with top picks first contracts over the last 5-8 years.
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(07-28-2020, 02:31 PM)OrangeTerrain Wrote: Lol, you act like this is something new with top picks first contracts over the last 5-8 years.
No Fred, I'm not acting like anything. I'm just making a post.
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I don't want to work
I want to bang on the drum all day
I don't want to play
I just want to bang on the drum all day
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(07-28-2020, 03:00 PM)Yojimbo Wrote: I don't want to work
I want to bang on the drum all day
I don't want to play
I just want to bang on the drum all day
Calm down Ringo. We want you around in case there's a season.
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(07-28-2020, 02:30 PM)Sled21 Wrote: So in 2 weeks young Joey will be a multi-millionaire. And, evidently with him getting that much up front, he won't hurt us to bad in the remaining years of this 1st contract.
(07-28-2020, 02:36 PM)Sled21 Wrote: No Fred, I'm not acting like anything. I'm just making a post.
https://www.forbes.com/sites/kurtbadenhausen/2020/04/24/2020-nfl-draft-first-round-rookie-salary-projections-what-burrow-tua-and-chase-young-will-make/#57b5f7bb5be3
You said: "he won't hurt us to bad in the remaining years of this 1st contract."
That is not how any of this works, you dont understand the rookie pay-scale. Try reading the above article and learning something- the bengals didnt do anything ingenious to structure this contract, it was 99% of the way already done. Lol
And My name is not Fred, it's Robert.
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(07-28-2020, 04:14 PM)OrangeTerrain Wrote: https://www.forbes.com/sites/kurtbadenhausen/2020/04/24/2020-nfl-draft-first-round-rookie-salary-projections-what-burrow-tua-and-chase-young-will-make/#57b5f7bb5be3
You said: "he won't hurt us to bad in the remaining years of this 1st contract."
That is not how any of this works, you dont understand the rookie pay-scale. Try reading the above article and learning something- the bengals didnt do anything ingenious to structure this contract, it was 99% of the way already done. Lol
And My name is not Fred, it's Robert.
$23.9 bonus. That has to be taxable in the state where its earned, in this case Ohio. 5% tax rate? That's a cool $1.2 million dollars.
As for the always voracious Feds, it's 37%. That's a cool $8.8 million dollars.
A painful 42% taxation rate.
I'm not a tax account, I just pay for one in my real life, but that big a bite has to sting.
Welcome to the Bengals Joe!
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(07-28-2020, 04:14 PM)OrangeTerrain Wrote: https://www.forbes.com/sites/kurtbadenhausen/2020/04/24/2020-nfl-draft-first-round-rookie-salary-projections-what-burrow-tua-and-chase-young-will-make/#57b5f7bb5be3
You said: "he won't hurt us to bad in the remaining years of this 1st contract."
That is not how any of this works, you dont understand the rookie pay-scale. Try reading the above article and learning something- the bengals didnt do anything ingenious to structure this contract, it was 99% of the way already done. Lol
And My name is not Fred, it's Robert.
It actually comes from some confusion on the other poster's part of how signing bonus is prorated across the life off the contract and the belief that a heavy signing bonus changes the end of the contract. The signing bonus doesn't come out of the cap the year you sign, but rather it counts against the cap evenly across the life of the contract. It really doesn't come in to play for most people unless the team would look to part ways in terms of dead cap and how it gets accelerated in the event of being cut or traded, both of which are not likely to happen with Burrow.
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(07-28-2020, 03:00 PM)Yojimbo Wrote: I don't want to work
I want to bang on the drum all day
I don't want to play
I just want to bang on the drum all day
They REALLY need to start playing that after TD's again. Really got the fans going...
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(07-28-2020, 02:30 PM)Sled21 Wrote: And, evidently with him getting that much up front, he won't hurt us to bad in the remaining years of this 1st contract.
The bonuses are slotted too. It's not as if we worked a deal to front-load the contract. The signing bonus, while paid out immediately, we'll be spread out year to year, as far as cap hits go.
Regardless, his cap hits will be a huge advantage through all of the first 4 years. That's the beauty of the newer system.
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Great news, just seen Tee signed as well, all rookies signed.
Expecting big things from these young players, especially Burrow, Tee, Wilson, ADG and even Bailey.
Adeniji also could end up being a damn fine player.
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(07-28-2020, 04:14 PM)OrangeTerrain Wrote: https://www.forbes.com/sites/kurtbadenhausen/2020/04/24/2020-nfl-draft-first-round-rookie-salary-projections-what-burrow-tua-and-chase-young-will-make/#57b5f7bb5be3
You said: "he won't hurt us to bad in the remaining years of this 1st contract."
That is not how any of this works, you dont understand the rookie pay-scale. Try reading the above article and learning something- the bengals didnt do anything ingenious to structure this contract, it was 99% of the way already done. Lol
And My name is not Fred, it's Robert.
^^^^^ This.
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(07-28-2020, 04:52 PM)bengals1969 Wrote: $23.9 bonus. That has to be taxable in the state where its earned, in this case Ohio. 5% tax rate? That's a cool $1.2 million dollars.
As for the always voracious Feds, it's 37%. That's a cool $8.8 million dollars.
A painful 42% taxation rate.
I'm not a tax account, I just pay for one in my real life, but that big a bite has to sting.
Welcome to the Bengals Joe!
Don't forget another 5-10% of the contract amount to his agent. Add in training and advisor fees (Ex: Jordan Palmer), and these numbers keep shrinking, and shrinking.
Most of these guys are lucky to see half of their listed contracts in actual dollars hitting their accounts.
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Full uniform shot please. We are ***** thirsty.
Everything in this post is my fault.
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Now that Burrow has signed his contract, how long before Florio, Cowherd, or some other media feminine hygiene product comes out with a rumor that Burrow may opt out of his rookie season. We all know he won't, but these turds are in some real need of click-bait.
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(07-28-2020, 06:29 PM)Wes Mantooth Wrote: The bonuses are slotted too. It's not as if we worked a deal to front-load the contract. The signing bonus, while paid out immediately, we'll be spread out year to year, as far as cap hits go.
Regardless, his cap hits will be a huge advantage through all of the first 4 years. That's the beauty of the newer system.
Pretty much what I said. While I did not realize his bonus was counted across the length of the contract, I said his numbers will be good in the remaining years. Nowhere in my post did I say anything about the Bengals organization doing anything outstanding. Some people are so touchy about anyone saying anything good about the team I wonder why they are fans.....
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(07-29-2020, 08:56 AM)Sled21 Wrote: Nowhere in my post did I say anything about the Bengals organization doing anything outstanding. Some people are so touchy about anyone saying anything good about the team I wonder why they are fans.....
Nowhere did you say the bengals did anything outstanding?
Then your next sentence:
‘ Some people are so touchy about anyone saying anything good about the team’
__________
Hahaha. They didn’t do anything ‘good’. It’s the structure of all the 1st round, top pick, contracts!
You’re so desperate to applaud them, you’re giving them credit for something that is already set up for all the teams. Lol
It would be like applauding Kroger’s for having parking spaces at their stores
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(07-29-2020, 09:03 AM)OrangeTerrain Wrote: Nowhere did you say the bengals did anything outstanding?
Then your next sentence:
‘ Some people are so touchy about anyone saying anything good about the team’
__________
Hahaha. They didn’t do anything ‘good’. It’s the structure of all the 1st round, top pick, contracts!
You’re so desperate to applaud them, you’re giving them credit for something that is already set up for all the teams. Lol
It would be like applauding Kroger’s for having parking spaces at their stores
Whatever Fred...
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