TUESDAY, 12:20pm: Nicks’ deal has a base value of $3.975MM, which includes a $2MM signing bonus and a $1.6MM salary, tweets Mike Chapelle of the Indianapolis Star, noting that $2.25MM of the contract is guaranteed.
FRIDAY, 6:40pm: Nicks can earn up to another $2MM in incentives, tweets Jason La Canfora of CBSSports.com.
6:23pm: The Colts have agreed to terms on a one-year deal with Nicks, reports Adam Schefter of ESPN.com (via Twitter), and the team has since confirmed the agreement. Albert Breer of the NFL Network hears that the deal has a base value of $3.5MM with upside for more, via incentives (Twitter link).
Although Nicks is coming off a down year in 2013, having failed to score a single TD on 56 catches, while accumulating 896 yards, he has plenty of upside and is still just 26 years old. As I noted when I examined Nicks’ free agent stock, the former first-round pick could turn out to be a No. 1 caliber receiver available for the price of a No. 2. The former Giant ranked 12th overall in PFR’s list of 2014’s top 25 free agents, beating out Eric Decker as our top-ranked receiver.
Nicks had reportedly been seeking a multiyear contract, so the fact that he settled for a one-year, make-good deal suggests that there wasn’t a significant market for him. Playing alongside T.Y. Hilton and potentially a healthy Reggie Wayne in Indianapolis, Nicks will benefit from catching Andrew Luck passes in 2014, and could play himself into a much larger payday a year from now if he produces next season.
Multiple reports indicated that the Panthers were also interested in Nicks, but as Mike Garafolo of FOX Sports points out (via Twitter), heading to Indianapolis gives the veteran receiver a better chance at a fresh start than signing with the Panthers would have. In Carolina, the Charlotte native would have faced the pressure of playing for his hometown team, not to mention filling Steve Smith‘s shoes.
Ian Rapaport of NFL.com (via Twitter) first reported that the two sides were nearing a deal.
Photo courtesy of USA Today Sports Images.