The widely reported worth of $11.5 million for Chad Pennington's contract is not wrong. But it is not right, either.
The fact' is, I am told by an NFLPA source, is that Pennington's deal will reach $11.5 million only if highly improbable things happen -- like if the Dolphins win the Super Bowl or Pennington is the MVP or leads the NFL in TDs.
That's when bonuses will kick in that would bring the deal's worth to $11.5. If those things don't happen, the actual value of the deal is between $7.50-$8 million.
Blog note: The preseason opener is tonight at 7:30. I will be right here at that time so join me here then for a chat and blog session.