Kerry Collins signed a long-term contract with the Carolina Panthers on Saturday night that includes a $7 million signing bonus, an amount the quarterback's agent called the largest in NFL draft history.
"Kerry wanted to make a commitment to the Panthers, and this will enable him to do that," agent Leigh Steinberg told The Associated Press by telephone after concluding negotiations with Bill Polian, the Panthers' general manager.Steinberg said the contract is structured for seven years but can be voided after three to give the expansion team the right to buy three more years. If Carolina elects that option, the team would pay Collins another bonus, this one $6 million, and the total six-year deal would be worth $21.6 million.
If the Panthers don't void the pact after three years, it becomes a seven-year contract worth a total of $23.18 million to the former Penn State quarterback.
Collins, the fifth overall selection in April's draft, signed the contract Saturday night in the Panthers' main offices in Charlotte, N.C., and then drove to Spartanburg. He was expected to join the team for its first two practices of the training camp Sunday.
The top pick in last year's draft, offensive tackle Dan Wilkinson of Ohio State, was given a $5 million signing bonus by the Cincinnati Bengals.