McGAHEE DEAL: SEVEN YEARS, $40.12 MILLIONWe're told that the Ravens and running back Willis McGahee are very close to agreeing on a seven-year deal worth $40.12 million.
As we previously explained, McGahee will receive $7.5 million to sign, an initial option bonus of $6 million, and a second option bonus of $1.5 million. The salaries are $595,000 in 2007, $605,000 in 2008, $620,000 in 2009, $3.6 million in 2010, $6.0 million in 2011, $6.5 million in 2012, and $7.2 million in 2013.
Since McGahee was due to earn $2.155 million in 2007, the deal is essentially a six-year extension worth $37.965 million.
If the Ravens cut McGahee before the back-end salaries kick in, he will earn a total of $20.42 million over four years.
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