Lovie Smith Re-signed (1 Viewer)

[massraider]

The Bears and Smith have agreed to a new five-year deal. The team is expected to make an announcement and have a press conference Thursday.

Smith was heading into the final year of the deal he signed when he joined the Bears and it grossly underpaid him at about $1.4 million. The new deal gives him a major, major bump in pay and puts him on the level of guys like John Fox, Jeff Fisher and other top-tiered coaches.

Smith's contract situation had been an issue all year long and shortly before the playoffs began, the Bears coach told FOXSports.com that he did not want to have any contract talks until the team's season was over.

There were rumors that the Bears had offered Smith a deal that averaged less than $3 million per year but those rumors were incorrect. They were far apart but not as far the last few weeks as many believed. Then last week his agent said there was a stalemate between the two sides. That stalemate, however, was bridged.

http://msn.foxsports.com/nfl/story/6517196

 

[ericttspikes]

The Bears and Smith have agreed to a new five-year deal. The team is expected to make an announcement and have a press conference Thursday.

Smith was heading into the final year of the deal he signed when he joined the Bears and it grossly underpaid him at about $1.4 million. The new deal gives him a major, major bump in pay and puts him on the level of guys like John Fox, Jeff Fisher and other top-tiered coaches.

Smith's contract situation had been an issue all year long and shortly before the playoffs began, the Bears coach told FOXSports.com that he did not want to have any contract talks until the team's season was over.

There were rumors that the Bears had offered Smith a deal that averaged less than $3 million per year but those rumors were incorrect. They were far apart but not as far the last few weeks as many believed. Then last week his agent said there was a stalemate between the two sides. That stalemate, however, was bridged.

http://msn.foxsports.com/nfl/story/6517196

Good move Bears!!

 

[patrickmcgroin]

Good for him and the Bears.

 

[PsychoMan]

Good for him and the Bears.

great news

 

[The Kansas Comet]

Glad to see the Bears get this done without dragging it out any further.

 

[Limp Ditka]

Angelo gets inked to an extension also

Bears signed head coach Lovie Smith to a four-year contract extension and general manager Jerry Angelo to a deal through the 2013 season.Smith, scheduled to make $1.45 million in 2007, gets a long-overdue extension through 2011. FOXSports.com's Jay Glazer says Smith's deal will pay him $22.5 million, which works out to $5.5 million-per-year. Feb. 28 - 8:52 pm et

 

[SeveredHorseHeads]

no signs of any impending effort to provide him with fair market value

 

[flapgreen]

Good to hear. Any numbers given?

 

[Domination]

Its about time.

 

[David Yudkin]

This should have been done A LONG TIME AGO. Props to Lovie, he deserves it.

 

[R.White]

From the Footballguys News Page LINK

February 28, 2007, 21:58

Bears

HC L. Smith, GM Angelo Contracts Extended

Jay Glazer, FOX Sports - [LINK]

The Bears on Wednesday finally signed HC Lovie Smith to a four-year contract extension that will run through the 2011 season. The Club also extended GM Jerry Angelo's contract through the 2013 season. FOXSports.com has learned that Lovie Smith's new deal is worth an impressive $22 million, or $5.5 million average per year.

 

[Pat Patriot]

Can all you Lovie lovers finally stop crying for him and admit that this was a non-issue all along?

"Bears are the cheapers organization ever!"

"Bears are SO disrespecting Lovie."

Man, ridiculous.

 

[46 ZONE]

Chicago Bears keys to getting back to the SB (and perhaps winning):

1 - Franchise Briggs - check

2 - Extension for Lovie - check

3 - Get a shrink for Rex (to treat his multiple personalities?) - pending

 

[dparker713]

This shouldnt have been done a long time ago, and they probably overpaid him.

 

[GRIDIRON ASSASSIN]

Actually... FACTUALLY speaking he signed a new four year deal, and the frugal Bears made him keep his existing last year.

I can't believe they didn't simply 'tear up this coming season's salary'. So in all honesty, he's not being paid in excess of $5Mil per year as has been widely reported. But he's being paid more than Bobby Petrino.

From the Chicago Tribune: "Sources estimated Smith's extension is worth $22 million in new money. Added to his 2007 salary of $1.45 million, the five-year average of $4.69 million jumps him from the lowest-paid coach in the league into the top 10."

Therefore within two years he'll be amongst the bottom half of the league's coach's in pay, and the media will be wringing their hands once again.

The bottom line, he got his new deal - and the Bears can now move on to signing their college and pro personnel VPs: Greg Gabriel and Bobby DePaul - who's contracts expire in a few months.

At least Bears players won't tell free agents to 'stay away'..... lol

 

[MrPhoenix]

GREAT move for the Bears. Now, if they'll finally start Griese, they'll be contending for the Super Bowl again.

 

[Limp Ditka]

This shouldnt have been done a long time ago, and they probably overpaid him.

 

[dparker713]

This shouldnt have been done a long time ago, and they probably overpaid him.

At 5.5 mil per year, I thought it was high. At the 4.7 mil per year its just about right. And the Superbowl was less then a month ago, so it seems to me like they concluded this deal rather quickly.

 

[3nOut]

This shouldnt have been done a long time ago, and they probably overpaid him.

At 5.5 mil per year, I thought it was high. At the 4.7 mil per year its just about right. And the Superbowl was less then a month ago, so it seems to me like they concluded this deal rather quickly.

The funny thing is that the Bears could have signed him to an extension last year for less but they wanted to "see more" from Lovie.