Jason Cole of Yahoo! Sports reports that the NFL and NFLPA have reached a compromise on a rookie wage scale. This new plan will take the place of the current rookie salary cap and would limit the amount of money teams can guarantee and also how much money can be given as a signing bonus.
Details on the guaranteed money limits set are not yet available, but here are a few details revealed so far:
1. Rookie first-round contracts will be limited to four years
2. Players drafted after the first round will be limited to three-year contracts.
3. Players would be restricted free agents in the fourth year.
This is not that much different from the current system, other than the limits on guaranteed money and signing bonuses given.
Cole reports the owners’ original offer for the No. 1 overall pick would have been a five-year, $19 million contract with only $6 million of that as guaranteed money. While this is most likely not the numbers agreed on today, it gives an idea of how far reduced salaries could be under the new rookie wage scale.
The one good news for the NFLPA is that first-round picks will now become free agents one year faster than before.
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