The Bucs handed Penn a $2 million signing bonus, and he'll make $4.5 million this season. ... Through 2015, Penn is scheduled to earn $35.5 million in base salaries, and that's just at this moment. There are escalators that could kick in for 2014 and '15. There also is another $3 million in likely-to-be earned incentives. ... The deal includes a $400,000 bonus for each year if he shows up for a certain amount of offseason workouts.
McCoy got a $3.6 million signing bonus. At this moment, he's scheduled to earn a total of $12.4 million in base salaries through 2015, but that's really just a start. Right now, 2015 is a voidable option year. But the option bonus on that comes due in 2011 and the Bucs will be writing another massive check then. McCoy's option bonus is for $9.98 million.
Penn's contract maximum total value is $48 million over those six years with about $20 million guaranteed. McCoy's five-year deal has a total value of $63 million with $35 million guaranteed. Buccaneers general manager Mark Dominik and director of football operations deserve a lot of credit for getting both complicated deals done while pulling an all-nighter on Friday night and through Saturday morning when both contracts were completed.
The Buccaneers did whatever it took to make sure Penn would be in camp to protect franchise quarterback, Josh Freeman. The contracts given to some of the bigger name players over the past two years, such as Kellen Winslow and Derrick Ward, have included little-to-no signing bonuses. It has been that way since Dominik took over as the general manager. Rather than commit big money in signing bonuses, the Bucs have gone to guaranteeing a large amount of money in base salary.
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