Panthers Agree to Terms with Fifth-round Draft Pick Fasani
July 25, 2002
CHARLOTTE, N.C. - The Carolina Panthers agreed to a four-year, $1.5 million contract with quarterback Randy Fasani on Tuesday night.
Fasani, the team's fifth-round draft pick, agreed to a contract that will reward him in 2005 if he sees significant playing time during his first three seasons.
According to agent Steve Baker, Fasani will receive a $175,000 signing bonus, and earn the league minimum base salaries the first three years.
If Fasani plays in 55 percent of the team's offensive plays in any of his first seasons, it will trigger an escalator clause which will pay him equal to the NFL's highest tender offer in 2005.
If he doesn't reach that mark, his base salary will be significantly lower in 2005.
'We got a little creative on this one and I think it's a good situation both ways,' Baker said. 'There was never a question that Randy would be in camp on time. We know that it's essential for a quarterback to be there on day one of camp.'
The Panthers have Fasani penciled in as their No. 3 quarterback behind starter Chris Weinke and 14-year NFL veteran Rodney Peete. However, with Weinke coming off a shaky rookie campaign and Peete now 36, there's a chance that Fasani could see an increased role in the years to come.
Fasani's deal comes one day after the team agreed to a seven-year contract with first-round draft pick Julius Peppers that included a $13 million signing bonus and the potential to earn more than $50 million.