5:34pm: Reports of $51MM in guaranteed are not entirely true, writes Mike Florio of Pro Football Talk. While $32.35MM becomes guaranteed after the 2016 Super Bowl, the rest of the $51.5MM does not become guaranteed until the third day of the 2016 league year.
In the unlikely event that McCoy does not live up to his contract over the rest of this year and 2015, the team could get out from the contract without paying that additional $19MM that becomes guaranteed in 2016.
12:03pm: The Buccaneers have reportedly locked up one of the best defensive lineman in the game, as Jay Glazer of Fox Sports reports (via Twitter) that the team has signed defensive tackle Gerald McCoy to a seven-year deal. NFL.com’s Ian Rapoport tweets that the deal is worth $98MM with $51MM guaranteed.
Roy Cummings of the Tampa Bay Tribune tweets that the deal with pay McCoy an extra $7MM this season, raising his pay to $20MM for 2014. He adds that that incentives will allow the contract to reach $98MM, with the guaranteed money coming in the first four years of the contract. He also notes (via Twitter) that McCoy’s average annual salary of $14MM will make him the highest-paid defensive tackle in the league.
The two sides have been rumored to be working on a deal for months, and it only seemed like a matter of time before an agreement was finally reached. The former number-three pick had his best statistical season in 2013, finishing with 50 tackles and 9.5 sacks. He’s compiled only 17 sacks and two sacks in 2014, but he still rates among the best at his position. Pro Football Focus’ advanced metrics (subscription required) ranks McCoy as the best defensive tackle in the league, and his pass-rushing rating is comparable to some of the best defensive ends and linebackers in the league.
Even more staggering is his impact on the Buccaneers. Pro Football Focus ranks Tampa Bay as the worst defense in the league and McCoy is only one of three Bucs (Alterraun Verner and Lavonte David are the others) to warrant a positive ranking by PFF.
McCoy was finishing the final year of his five-year, $63MM rookie contract signed in 2010.