Rivers gets $40.5 million deal -- plus $14.25M signing bonus
Aug. 23, 2004
SportsLine.com staff and wire reports
The San Diego Chargers have agreed to a six-year deal with quarterback Philip Rivers, their first-round pick this past April, ending a 23-day holdout.
Philip Rivers is finally ready to take the field for the Chargers, right after he signs his juicy six-year deal. (Getty Images)
Philip Rivers is finally ready to take the field for the Chargers, right after he signs his juicy six-year deal.(Getty Images)
The contract will pay Rivers $40.5 million, including a $14.25 million signing bonus. He can earn $10 million more in incentives.
Rivers will be at Chargers camp Tuesday to officially sign the deal, according to the team. He then will take part in his first NFL practice.
Rivers, the fourth player taken in the draft by the New York Giants, was traded to the Chargers in a draft-day trade for Eli Manning. San Diego also received a first-round pick next year from the Giants as part of the trade.
The Chargers were hoping to start Rivers as a rookie, but after missing three weeks of camp that is now highly unlikely. Plus, veteran Drew Brees has played well in his absence, leading the league in preseason passing yards..
At North Carolina State, Rivers threw for the second-most passing yards in NCAA history, but it was his work after the season, including at the Senior Bowl, that helped his stock soar.
Rivers is the last remaining first-round pick to agree to a deal, culminating what has been some acrimonious negotiations between the team and agent Jimmy Sexton. Rivers was seeking a deal similar the one signed by Manning with the Giants, but the Chargers balked.
The lone rookie without a contract is Indianapolis safety Bob Sanders, who is a second-round pick.