Carolina Panthers tight end Greg Olsen did not get the contract extension he was seeking this offseason, but the team did add $2 million in incentives for 2017 on Thursday.
Olsen, 32, can collect bonuses by hitting benchmarks in receptions, receiving yards, average yards per catch and postseason honors, agent Drew Rosenhaus told the Charlotte Observer.
Olsen signed a three-year extension in 2015 worth $22.5 million, including a $12 million signing bonus. However, he believes he has outperformed that contract as Olsen is the only tight end in NFL history to post thee consecutive 1,000-yard receiving seasons.
His average base salary of $7.5 million per year was 12th among NFL tight ends, but Olsen vowed not to hold out in an attempt to get a new deal. With the incentives, Olsen now has the ability to increase the value of his 2017 salary to $8.75 million.
Former general manager David Gettleman was fired in July, with reports that owner Jerry Richardson was not pleased with several negative contract situations in the past and simmering contract issues with Olsen and fellow veteran team leader Thomas Davis. Interim GM Marty Hurney has since extended Davis’ deal through the 2018 season.