49ers Salary Cap Update: Mario Manningham Contract

After nearly a week of waiting, the San Francisco 49ers made their signing of Mario Manningham official last Thursday, with contract details leaking out on Friday. The 49ers inked Manningham to a two year contract worth $7.375 million, which was over four million less than the contract Josh Morgan received from the Washington Redskins.

Further details have emerged as to the specifics of the deal with Manningham, courtesy of Pro Football Talk. They came up with a full rundown of the terms that I'll break down by season. The incentives are the same for each year and at this point the deal is fully guaranteed for $3.2 million and guaranteed for injury for an additional $1.25 million. If Manningham hits all the incentives and bonuses, he could earn up to $10 million over the two years of the deal.

If he does hit all the incentives, he will have been worth every penny, and then some. In fact, if he hits a sizable chunk of the 2012 incentives, I would think the 49ers will begin work to extend out Manningham's time with the team. You can view the full details of the contract after the jump.

On a side note, Matt Maiocco reported the 49ers had approximately $6.2 million in cap space after this deal, but not counting the Ted Ginn Jr. and Josh Johnson deals. Johnson's deal, as reported by Matt Barrows, includes a $350,000 signing bonus ($175,000 per season for cap purposes) and what appears to be just under a million dollars in base salary each year. That would seem to bring the 49ers cap figure down to approximately $5 million and change, with Ginn's one year deal and draft picks taking up much of the rest.

MM indicated the team likely needs a little over $4 million to sign their scheduled draft picks. That could potentially leave a little bit of room for a Leonard Davis type of signing, although it remains to be seen what kind of salary Davis will be looking for as we head into the summer.

Signing Bonus: $2 million

2012
Base Salary: $1.2 million (fully guaranteed)
Per-game Roster Bonus total: $250,000
Workout Bonus: $100,000
Incentives: 70 catches = $100,000 OR 80 catches = $250,000 OR 90 catches = $500,000; 1,050 yards = $50,000 OR 1,150 yards = $100,000 OR 1,250 yards = $250,000; Nine touchdowns = $50,000 OR 11 touchdowns = $100,000 OR 13 touchdowns = $250,000; and Pro Bowl selection = $250,000

2013
Base Salary: $3.6 million ($1.25M guaranteed for injury only)
Roster Bonus: $250,000
Workout Bonus: $100,000
Incentives: 70 catches = $100,000 OR 80 catches = $250,000 OR 90 catches = $500,000; 1,050 yards = $50,000 OR 1,150 yards = $100,000 OR 1,250 yards = $250,000; Nine touchdowns = $50,000 OR 11 touchdowns = $100,000 OR 13 touchdowns = $250,000; and Pro Bowl selection = $250,000

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