- The deal carries a $3.75 million base value — $1 million, and $1.5 million in base salary — and a $500,000 bonus.
- If Bailey is active for six games in 2014, he will receive a $250,000 roster bonus, as well as an additional $250,000 roster bonus if he is on the roster on the fifth day of the 2015 league season.
- The deal also carries annual $150,000 bonuses for Pro Bowl appearances.
- Finally, there is an escalator clause allowing for a one-time $1.2 million for playing time in 2014 or 2015.
By comparison, Antonio Cromartie and Tarell Brown both received $3.5 million total in their new contracts, but they will receive this much over one year. Most of their salaries are fully guaranteed, which helps to illustrate the market value of an aging cornerback in the level.
Bailey is entering his 16th season in the NFL, so the Saints’ commitment is substantial, particularly when considering that Bailey only played five games with Denver last year because of a foot injury.
GM Mickey Loomis recently confirmed that Bailey will only play cornerback for the Saints, stating “You always have a need for good players and that’s a valuable position.”
Bailey had made it clear that he was willing to move to safety if a team thought he was a better fit there. After the signing of former Bills S Jairus Byrd however, the bigger need was at cornerback.