The Baltimore Ravens were prepared to use their franchise tag on tight end Dennis Pitta in order to work out a contract with him, but they agreed to a long-term deal before that had to happen. While he inked the deal last week, we’re just now learning the financial specifics of the contract and they’re making Pitta a very rich man.
According to Tom Pelissero from USA Today — among other reports — Pitta is slated to make $16 million guaranteed on his new $32 million contract. The guaranteed money is slated to be build into a signing bonus as well as being spread out over the length of the deal.
Dennis Pitta’s new deal with #Ravens included $16M guaranteed — $11M signing bonus, plus gtd bases of $1M in 2014 and $4M in 2015.
— Tom Pelissero (@TomPelissero) March 4, 2014
This is good news for Pitta and his agent but bad news for New Orleans Saints. With Jimmy Graham set to hit free agency next year, he’s now seen what a top tight end can make and will ask for significantly more cash, especially considering he believes he’s the best tight end in the game.
Pitta’s deal sets $16 million guaranteed as the absolute ground floor for a deal and it’s possible for Graham to ask for as much as $20 million in his new deal, whenever it may come.