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I posted a couple of updates in the post discussing the Texans signing Ryan Mallett to a new contract, but I want to make sure they don't get lost in the wash.
Tania Ganguli reports that Mallett agreed to a two-year contract to stay in Houston. The short length of that deal isn't that surprising; it's in Mallett's best interest to hit the market again as soon as possible if he produces the way everyone hopes he will. The total dollars and especially the guaranteed money, however, floor me.
Ryan Mallett's deal with the #Texans is a 2 year deal worth $7 million. Expecting Hoyer's to be bigger.
— Tania Ganguli (@taniaganguli) March 9, 2015
Mallett has a guarantee of $1.75 million in the first year. No guarantee in the 2nd. A prove it deal. And if he does, he'll cash in. #Texans
— Tania Ganguli (@taniaganguli) March 9, 2015
Mallett is clearly betting on himself, which I love. While it's a risky strategy, especially in the NFL, I think in Mallett's case, it's smart. The amount of money he can make if he puts together a full season or two of good play is astronomical. While Mallett will have to conceivably beat out Brian Hoyer for the starting quarterback gig here, if he does and plays well doing it, he's poised for a gigantic pay day, whether it be in two years or via a new contract with the Texans in one year.
From the Texans' perspective, this contract is an unadulterated win. They get a guy they hope is their QB of the present and future locked in for two years at very little money. If Mallett succeeds, he gets paid accordingly in a new contract. If he doesn't, there's minimal exposure and salary cap headache for the organization.
If you're a Texans fan, you have to be pleased with these terms. Don't you?
UPDATE (03/10/15): Aaron Wilson has even more specifics on the terms of Mallett's new contract with the Texans:
Ryan Mallett two-year deal: $7 million, $1.75M of $2.5M 2015 salary gteed, $2.5M 2016 salary, $62,500 per game active roster bonus per year
— Aaron Wilson (@RavensInsider) March 10, 2015