It took a while, but the salary numbers are finally in for newly signed free agent guard Mike Iupati. He joined the Arizona Cardinals, signing a five-year, $40 million contract.
In Year 1, Iupati gets $11.5 million in actual money. He received a $6 million signing bonus. He will receive a $4 million signing bonus this year. He will make $1.5 million in actual salary in 2015.
What that means is his 2015 salary cap hit isn't much -- $6.7 million.
His cap hit in 2016 actually goes down to $5.7 million. His salary will be $4.5 million and there are no roster or workout bonuses, so the cap hit only includes his salary and his prorated hit for the $6 million signing bonus.
His cap hit is the same -- $9.2 million -- for each of the last three years of his contract. He will make $8 million in 2017 and $7.75 million each of the final two years of his deal, and he will receive a $250,000 roster bonus in the final two years as well.
If for some reason Iupati doesn't work out as he is expected to, the cap hit would not be crippling after Year 1. If cut next year, he would count $4,8 million in dead money. It goes down by $1.2 million each year after that.
What do you think of the deal? It is the second highest in the league for a guard, but it appears to be well structured.