As media reports continue to filter in, the size and scope of DT Haloti Ngata’s newly signed contract extension are coming more into focus.

Based on a variety of sources, it appears that Ngata’s new deal is worth a total of $61M over 5 years, with $40M of that amount being guaranteed.  He’ll receive a signing bonus of $25M and an Option Bonus in 2012 of $10M.  All of the $40M in guaranteed money will be paid out over the first two years of the deal, with $27.1M of that being paid in 2011.  Lastly, reports indicate that he will receive a 2012 base salary of $2.9M.

There is, however, some conflicting information about Ngata’s 2011 base salary.  Some reports indicate that his base salary will be $2M, while others say that he will “make” around $2M in base salary this year.  There is actually a difference in the way those are explained because Ngata has already been paid for the first two weeks of this season – making $1.468M (2/17ths of his franchise tag of $12.476M). 

Based on all of the numbers reported, it appears that the second explanation – “that he will make around $2M in base salary this year” - is more accurate.  That would mean that his base salary for the remainder of the season is likely around the veteran minimum for a player with 5 years of service time of $685K.  He will now receive 1/17th of that amount each week or 15/17ths of that amount for the remainder of the season ($604K).

That would seem to jive with the other reported numbers – he’ll make “around $2M in salary for 2011” (actually, $2.072M) and $27.1M in 2011 ($25M + $1.468M + $604K = $27.074M).  Those numbers would also equal the reported $40M to be paid in the first two years of the deal.

Prior to the new contract, Ngata’s Salary Cap number was $12.476M.  With this new deal, Ngata’s Cap charge will be reduced to $7.074M  -  the $1.468M already paid + $5M ($25M bonus/5) + $604K (15/17ths of $685K base salary).

So, if these numbers are more accurate, the team has created $5.402M in Cap space for this year by reaching this contract extension.

That leaves $21M to be paid as base salary over the final 3 years of the deal – likely something along the lines of $5M (2013), $7M (2014) and $9M (2015).

All in all, it appears to be a fairly good one for both Ngata and the Ravens.  The just over $12M per year average for the deal is a very fair rate for Ngata and well below the $15M per year average received by Bears DE Julius Peppers, the highest paid defensive player in the league.