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Monday afternoon, the San Francisco 49ers dropped a bit of a surprise as they announced Adam Snyder had signed a two-year contract to return to the team that had drafted him. A day later, the contract details are starting to appear. Adam Caplan is reporting the deal is worth $2.45 million, with $500,000 guaranteed.
Jason Hurley quickly discovered the base salaries were $850,000 and $1,000,000, as per the NFLPA. That leaves $600,000 between the base salaries and the total package, assuming Caplan's numbers are accurate. The $500,000 could be signing bonus money, some base salary guarantee, or some combination of the two. I spoke with Jason and he believes it is strictly signing bonus, and the remaining $100,000 is likely $50,000 workout bonuses each year. If that is the case, that would create cap hits of $1.15 million and $1.3 million.
The 2013 base salary is just above the veteran minimum for a player with 7-9 credited seasons. Adam Snyder has eight years under his belt, which requires no lower than $840,000. In 2014, Snyder will have nine credited seasons, which will require a minimum of $855,000. He would be getting a pay raise for 2014, but given that base salaries are generally not guaranteed, that is not particularly significant.