Although folks were flipping their lids at the “$15 million annually” price tag being floated about new Chicago Bears quarterback Mike Glennon, it was barely worth discussing the contract until we knew (1) how much guaranteed money was in the deal, and (2) how much of the guaranteed money would go up front.
If, for example, the “$45 million deal” contained only $20 or so million in guaranteed money, that’s not too bad. Moreover, if most of the guaranteed money was paid in the first year, the Bears would be able to move on without much pain if things didn’t work out in 2017.
Sure enough, both of those things is true, as Albert Breer reports that, not only is the guaranteed portion of Glennon’s deal just $18.5 million, a full $16 million of that is in this year’s money.
In other words:
New Bears QB Mike Glennon's three-year, $45 million deal is basically a one-year, $16 million with team options for 2018 and '19.
— Albert Breer (@AlbertBreer) March 10, 2017
So, then, like I said yesterday: you can absolutely debate whether targeting Glennon at all as the quarterback for 2017 is a good move, but it’s pretty much inarguable that this is a good contract. It preserves the possibility that the Bears could get Glennon for three years if he shows some of that upside the Bears are dreaming on, but it also doesn’t hurt them in 2018 and 2019 if things don’t work out.
I see this deal and, for me, it confirms one other thing: the Bears will definitely be in the mix for a quarterback in the first few rounds of the draft.