Brees deal sets new bars for average, guarantee
The whopping $60 million in guaranteed money includes $40 million fully guaranteed, and $20 million in guarantees presumably based only on injury until 2013, a function of the NFL’s outdated and unrealistic “funding” rule, which requires a team to put in escrow now any fully guaranteed money due in the future.
To review, only the $18M 2012 salary of Peyton's five-year, $96M deal in Denver is fully guaranteed. If he's on the roster on the last day of the 2012 league year, his $20M salaries in 2013 and 2014 will be guaranteed, with the team holding an out for the 2014 salary in the event of a reinjury to Peyton's neck.
Essentially, barring another neck injury, Manning is guaranteed $58M in his deal over three years, while Brees is due $60M in guarantees over three years, also barring injury. In terms of average annual value, Brees's $20M comes in just ahead of Manning's $19.2M/year.