LJ #2 Richer than Initial Thought

Details of Larry Johnson’s new contract extension with the Kansas City Chiefs were made public yesterday and it looks like the former Penn State running back will be making more than initially indicated.

For this season, LJ#2 will receive a $12.5 million signing bonus, a $750,000 salary, and a workout bonus of $50,000. For the subsequent years, he will earn:

2008: $2,500,000 ($2,000,000 guaranteed)
2009: $4,550,000 ($3,500,000 guaranteed)
2010: $5,000,000 ($250,000 guaranteed)
2011: $5,300,000
2012: $5,900,000

Additionally from ESPN.com: “There are prorated roster bonuses of $1 million each in 2008-2012, payable at the rate of $62,500 per each game that Johnson is on the active roster. There are also annual offseason workout bonuses of $100,000 each for the 2008-2012 campaigns. And in 2010-2012, there are offseason bonuses of $1 million each if Johnson is on the roster for the first day of the league year, typically defined as March 1.”

$43,250,000 of “new money” to Johnson after this season, which was the last year on his previous contract. Not bad for a guy who spent 25 days kicking and complaining about his salary, only to have the team come in and make it up to him.

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