CNNSI.com NFL Draft 2002


 

Carr buying

Texans to sign expected No. 1 pick to 7-year deal

Posted: Tuesday April 16, 2002 12:34 AM
Updated: Tuesday April 16, 2002 2:11 PM

 
Details of Carr's deal
Here are the key points of the seven-year tenative contract agreement that was reached Monday night between Fresno State quarterback David Carr and the Houston Texans:

  • The contract is subject to NFL Management Council approval, but all of the important terms have been agreed to. Those include an initial signing bonus of almost $11 million, with another $3 million in the form of an option bonus that's due next March.

  • Carr will have a 2002 base salary of $1.040 million, meaning he'll make $15 million in the contract's opening 12 months. With 2003-2004 base salaries of $550,000 and $660,000, the draft's No. 1 pick will clear $16.25 million in his first three seasons. That figure tops the $15.3 million that Falcons quarterback Michael Vick -- last year's No. 1 pick -- is scheduled to earn in his first three seasons.

  • Before escalators and other bonuses, the contract is worth $46.25 million over the course of the seven years. The deal's maximum value is seven years at $60 million.

    While neither the Texans or Carr's agent, Michael Sullivan of Octagon, are braced for rejection of any part of the deal by the league's Management Council, it is possible that the contract could be kicked back to Houston for some tweaking. The biggest issue would likely be one of how the Texans would handle the possible salary-cap acceleration of the signing bonus, given that the deal includes some void and buy-back features in later years.

    Houston's plan is to have a news conference on Wednesday to announce the deal, but that may not include Carr actually signing the contract. The Texans would then announce that they had reached a tenative contract agreement, pending Management Council approval.

    Sullivan, who also represents Vick, is scheduled to fly to Houston on Tuesday night and be in place for either the contract signing or the deal's modification. The Texans last week announced that Carr would be the first player drafted by the expansion team, and had most of the deal's parameters already in place at that time.

    -- SI's Don Banks 
  •  

    HOUSTON (AP) -- The Houston Texans are close to signing Fresno State quarterback David Carr to a seven-year contract that would pay him $60 million if he reaches all incentives, a football source said.

    The NFL is looking at the contract but had not yet given its approval early Tuesday, the source said, speaking on the condition of anonymity.

    Carr's agent, Mike Sullivan, who also negotiated quarterback Michael Vick's contract with the Atlanta Falcons last year, was returning to Texas to get the final details of the contract ironed out, the Houston Chronicle and KRIV-TV of Houston reported Monday night.

    Carr would earn $45 million as a salary base over the seven years and that could increase to $60 million if he meets all incentives.

    Carr would be paid $16 million in the first three years of the deal, the most in NFL history for a player in the first three years of a contract.

    Vick, selected by the Falcons with the top pick in last year's draft, will make $15.3 million in his first three years. Vick signed an eight-year, $62 million deal with the Falcons.

    Sullivan did not immediately return phone messages.

    Two weeks ago, the Texans proclaimed Carr the team's top pick in Saturday's draft. Later that week, Carr bought a home in Sugar Land and relocated his family from California to Texas.

    "We wanted him to get in here and get things taken care of so we can have his full attention," coach Dom Capers said. "He's going to need to have all the distractions out of the way and focus on football."

    Carr will also be among the honorees at the National Quarterback Club Awards ceremony on Thursday. On Saturday, he will become the 12th quarterback selected with the top overall pick since the NFL-AFL merger in 1970 and the fourth in the last five years.

    Carr led the nation with 4,839 passing yards and 46 touchdowns in 2001 while leading Fresno State to an 11-3 record.


     
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