Call it a green Christmas for Washington Redskins star linebacker LaVar Arrington.
Arrington on Friday agreed to a new eight-year contract worth about $60 million, including $20 million in signing bonuses. The new deal, which was first reported by ESPN.com and which the team announced as an extension, runs through the 2011 season.
This contract replaces his current deal, which technically ran through the 2006 campaign but as Arrington had reached enough of the predetermined performance levels to void the final year, essentially had two years remaining.
Arrington will receive $15.5 million of the signing bonus immediately and will receive an additional $4.5 million in spring 2006. The deal is somewhat similar in structure to one signed by Tampa Bay defensive end Simeon Rice last summer.
Earlier, league sources described the new deal as "a monster" that elevates Arrington into a "very elite" pay bracket. He will be one of the highest-paid defensive players in league history.
In addition to ensuring Arrington's future with the team, the new contract also provides the Redskins much-needed salary cap relief for 2004 and beyond. League sources said the contract will save the Redskins $5.4 million on their 2004 cap and $6.3 million on the 2005 spending limit.
Arrington, a four-year veteran drafted by Washington in the first round in 2000, was scheduled to earn a base salary of $6.36 million in 2004. He was also due a roster bonus of $1.5 million next spring, for a total cap charge of $10.672 million. It was to have risen to $10.869 million in 2005 and to $12.013 million in 2006.
Under his old contract, Arrington was owed a total of $16.31 million for 2004 and 2005. The new contract will pay him a total of $16.575 million for those two years. Beyond the $15.5 million signing bonus, ESPN.com has learned that Arrington will earn minimum base salaries for 2004 ($535,000) and 2005 ($540,000).
Basically, in out-of-pocket expenses, the Redskins will pay Arrington only $265,000 more in the next two seasons than he was owed under his former contract. The biggest difference is that, on the old contract, the money was not guaranteed. Then again, it would have been next to impossible for the Redskins to save that money by releasing Arrington in that period, given the negative cap ramifications that would have produced.
Arrington, 25, was named to his third straight Pro Bowl last week and is regarded by Redskins management as a cornerstone player. The former Penn State standout leads the Redskins in tackles and, while not as dominating as a year ago, has performed at a very high level.
ESPN.com reported that the proposal rejected by Arrington two weeks ago was for seven years and worth more than $50 million, with a signing bonus of about $14 million. The club said those parameters were not accurate.
Before the new deal, the Redskins had about $74.15 million committed to next year's cap. Teams were apprised earlier this month that the spending level for 2004 will be around $79 million to $80 million. Washington continues to pursue contract extensions with cornerback Champ Bailey and offensive tackle Chris Samuels, as well.