Report: Russell Okung contract with Broncos has no guaranteed money
Newly-signed Denver Broncos left tackle Russell Okung has no guaranteed money in his contract, reports Pro Football Talk’s Mike Florio.
The deal was originally reported as a five-year deal worth over $10 million annually. It was reported soon after the contact was actually for one year and $5 million, with team options for the next four seasons.
According to Florio, the Broncos can release Okung before the start of the regular season and have paid him only $1 million.
[Okung] has a $1 million workout bonus, a $2 million base salary, and a $2 million roster bonus tied to being on the 53-man roster for any one game. So, basically, the Broncos are giving Okung $1 million to participate in the offseason program, with an option before Week One to pay him another $4 million to actually play for them in 2016.
Okung must participate in 90% of the off-season program to receive the $1 million bonus, according to the report. If the Broncos exercise Okung’s option after this season, they will owe him $19.5 million over the next two years, but they can also release him without owing any additional money.
Okung represented himself during his free agency negotiations.