According to league sources, the sense is Newtons new deal will include a fully guaranteed figure north of $40 million. Here are some numbers to put that in context:
$55 million: If the Panthers had to resort to using their franchise tag on Newton, they would have owed him around $25 million in 2016 and $30 million in 2017.
$54 million: Packers quarterback Aaron Rodgers is the current pacesetter at his position. $54 million of the $110 million contract he signed in 2013 was fully guaranteed.
$50 million: This is the amount of fully guaranteed money Sam Bradford got in 2010, a year before Newton was the top pick of the first draft under the new CBA, which severely limited rookie contracts.
$42 million: Falcons quarterback Matt Ryan signed a 5-year, $104 million extension in 2013. $42 million of that was fully guaranteed. That figure is likely a good benchmark for what Newtons side wanted to top. Other quarterbacks with similar guarantees: Matt Stafford ($41.5 million), Tony Romo ($40 million), Drew Brees ($40 million), Philip Rivers ($38.2 million), Jay Cutler ($38 million).
$30 million: Andy Dalton and Colin Kaepernick, who were part of Newtons 2011 draft class, got deals first, but their contracts are much different. Even when combined, Dalton ($17 million) and Kaepernicks ($13 million) true guarantees will be more than $10 million lower than Newtons.
$14.67 million: This is technically an extension, so Newtons new contract will start in 2016 and run through the 2020 season. He will still play this year under the terms of the Panthers fifth-year option he signed last spring, which means hell make nearly $15 million in 2015. Its unclear if the new deal will give Carolina some immediate cap relief.
31: Newton will be 31 when this extension runs out, so if he continues to improve, hes set up for one more massive contract.
5: Once Newton signs, hell be just the fifth quarterback currently under contract through 2020. The others: Tannehill, Kaepernick, Dalton, Cutler.