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Full Version: Bears do it again...Greg Olsen signed - 5 year numbers below
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Quote:FIRST OF THE FIRST-ROUNDERS AGREES TO TERMS

A league source tells us that the Chicago Bears have reached an agreement with first-round draft pick Greg Olsen.

Olsen, the 31st overall selection in the 2007 draft, is the first first-rounder this year to come to terms.

The tentative terms, subject to change as the deal is fully ironed out, are as follows:

In 2007, he gets a signing bonus of $250,000, a $720,000 roster bonus, and a base salary of $285,000 in 2007.

The contract also has a one-time incentive based on minimum playing time of $578,700. For 2007, the trigger is 35 percent of the offensive snaps. For future years, it is 45 percent.

In 2008, there's an option bonus of $3.545 million and a base salary of $460,000.

In 2009, the base salary is $460,000, and Olsen is eligible for a $100,000 reporting/roster bonus that is earned at the start of training camp and paid out over the course of the regular season. (We'll explain the genesis of this new bonus later.)

In 2010, the base salary is $550,000, and the reporting/roster bonus is $140,000.

In 2011, the base salary is $650,000, and the reporting/roster bonus is $125,732.

The total value, including possible incentives of up to $2.921 million, is $10.69 million over five years.

Olsen is represented by Drew Rosenhaus, who also represents franchise-tagged Bears linebacker Lance Briggs. Apparently, the rancor between the team and Briggs hasn't affected the organization's ability to work with Rosenhaus.

Olsen played college football at Miami. He jumped into round one thanks to a sub-4.5 40-yard dash at the scouting combine in February. After he was selected by the Bears, a firestorm was sparked in Chicago due to his involvement in the rap group called the "7th Floor Crew," which had a song with profane lyrics posted on a MySpace.com page.
http://www.chicagobears.com/news/NewsSto...ry_id=3576


Quote:Bears first NFL team to sign first-round draft pick

LAKE FOREST, Ill. – The Bears continued to sign their draft picks at a rapid rate Tuesday, inking first-round selection Greg Olsen to a five-year contract. Terms were not disclosed.

The 31st overall pick in the draft, Olsen is the first of the top 64 choices to sign a deal. The playmaking tight end is also the eighth of nine Bears draft picks to agree to terms, leaving second-round defensive end Dan Bazuin as the only unsigned member of Chicago’s 2007 draft class.


Greg Olsen joins Mike Ditka as the only tight ends selected by the Bears in the first round of the draft.
The deal was finalized Tuesday during a meeting at Halas Hall that included Bears lead negotiator Cliff Stein and Olsen’s agents, brothers Drew and Jason Rosenhaus.

“We’re real excited,” said Bears general manager Jerry Angelo. “When we drafted Greg, we did have some preliminary talks with Drew about wanting to consummate a deal right around this time, and he felt that that would be a possibility.

“They’re never easy to do, but it’s a testament to them honoring their word and giving it their best effort. We’re real happy that we were able to pound something out. Obviously there’s a little pinching on both sides, but usually that’s what it takes to get a good deal. I know they’re very happy about it and we feel the same way.”

Olsen headed to Halas Hall Tuesday to sign the contract after Drew Rosenhaus phoned the tight end to inform him that a deal was imminent.

“I’m extremely happy everything worked out,” Olsen said. “Both Drew and Jason and the Bears have been meeting the last couple weeks to try to get this done and I’m happy that now we don’t have to worry about it. We can get into camp without any questions and just get going playing football.”

After watching Olsen make major strides throughout minicamp and OTA practices, Angelo is excited that the 6-6, 254-pounder’s development will continue uninterrupted.

“It’s a big relief given the fact that Greg has been with us throughout the offseason program,” Angelo said. “I mentioned to him and his family that he really built up a lot of good karma with the players and the coaches and now this allows him to continue that momentum going into camp.

“When you don’t get a deal done or it drags on and you take it into training camp, all that good will gets lost and now it has to be rebuilt. So now he can just continue to build on all the good things that he’s done thus far, and obviously we’re really excited about that.”

Drew Rosenhaus agreed that his client will benefit from signing when he did.

“You never get locked into specifics in terms of a timeframe, but you always hope to get a deal done before training camp and it’s a huge plus to get a deal done this early in the process for Greg because he’s not going to have to worry about that now,” Rosenhaus said.

“While many of the other first-round picks have to contend with signing a contract and dealing with the economics and moving and everything, Greg’s already got that out of the way and he can concentrate on the playing part.”

A year ago, the Bears were the first NFL team to sign all of their draft picks.

Rosenhaus told ChicagoBears.com Tuesday that this is the earliest he has had a first-round draft pick sign a contract in at least the last decade.

“You’ve got to credit the Bears organization for being aggressive and wanting to put together a reasonable deal,” Rosenhaus said. “My brother Jason and I are the kind of negotiators that are going to hold firm to make sure that we get a fair deal for our client, and we weren’t in a particular hurry to do this deal unless it was reasonable and we were able to get a deal that both sides could feel good about.”

Olsen is a natural athlete who possesses excellent speed and instincts. He’s a downfield threat with soft hands who caught 40 passes for 489 yards and 1 touchdown last season as a junior at the University of Miami.

Impressed with his size, speed and physical ability, the Bears targeted Olsen in the draft. The former Hurricanes star ran a 4.51 in the 40-yard dash at the NFL Scouting Combine, the fastest time by a tight end.

“Most teams say they want a tight end that can get down the middle,” said Bears coach Lovie Smith. “Most of the time tight ends are matched up versus smaller DBs and slower linebackers. He should win that battle most of the time.

“I knew he had talent. He had about as good of a combine workout as you can have. But to see it live [on the practice field] is something else.”

G-REG
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