The 2016 base salary for Philip Rivers has become fully guaranteed, since the Chargers quarterback remains on the team’s roster beyond the second day of the NFL’s waiver period. Rivers is now assured of earning a $16.5MM salary for the coming season, an amount that was previously guaranteed for injury only.
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The fact that Rivers’ salary has become fully guaranteed is no surprise, since he just signed his new extension with San Diego in August, and showed no signs of slowing down during the 2015 season. Although the Chargers struggled, posting a 4-12 record, Rivers was as productive as ever, leading the league with 437 completions and racking up 4,792 passing yards to go along with 29 touchdown passes.
When taking into account his $16.5MM salary and $4.5MM of prorated bonus money, Rivers’ contract will count against the Chargers’ cap for $21MM this season. The team now won’t have a decision to make on its veteran quarterback until the second day of the 2017 waiver period, when $11MM of his $14MM salary for ’17 becomes fully guaranteed.
While Rivers was the only noteworthy player whose contract called for his salary to become fully guaranteed if he remained on his team’s roster beyond Tuesday, there are several players who are in a similar boat on Wednesday.
Saints quarterback Drew Brees, Saints safety Jairus Byrd, Browns cornerback Joe Haden, and Raiders linebacker Curtis Lofton are among the players who will see their 2016 salaries – or at least a significant chunk of them – become fully guaranteed if they’re not released today, per Joel Corry of CBSSports.com.
Photo courtesy of USA Today Sports Images.