GREEN BAY, Wis. -- Jared Cook will count $2.75 million against the Green Bay Packers' salary cap this season, leaving them with a little more than $11 million in remaining space.
The one-year deal Cook signed on Monday could be worth up to $3.65 million with incentives.
It’s the biggest financial investment the Packers have made in a tight end since Jermichael Finley's two-year, $14 million deal in 2012.
One important thing to note about Cook’s signing is that he won’t count against the Packers in the compensatory picks formula, because he’s technically not an unrestricted free agent. Because he was cut by the St. Louis Rams with two years remaining on his deal, he’s considered a street free agent, and those signings don’t factor in draft pick compensation.
So far, the Packers have lost two free agents, cornerback Casey Hayward (to the Chargers) and quarterback Scott Tolzien (Colts), who could factor into next year’s compensatory formula.
Here’s a breakdown of Cook’s deal:
Signing bonus: $825,000
Roster bonus: $75,000 (paid on June 20)
Per-game bonuses: Up to $400,000 ($25,000 per game active)
Workout bonus: $25,000
Base salary: $1.425 million
Cash value: $2.75 million
Salary-cap charge: $2.75 million
Incentives: Up to $900,000 for Pro Bowl, playing time, receptions and touchdowns (considered "not likely to be earned" for salary-cap purposes).
