Team president Joe Banner explained the unusual circumstances which resulted in a one-year extension on Thursday for quarterback Kevin Kolb rather than a long-term extension.
"People have heard a lot of talk about this 30-percent rule because of the CBA," Banner said on Eagles Live!. "In order to give a player an extension now, almost 100 percent of the money has to be in a signing bonus and the rules about how that's going to prorate and get treated in the future are unclear. You have to do something short like this. It's really not practical."
The 30-percent rule means that a player's base salary can only increase by, you guessed it, 30 percent. Since Kolb is still in his rookie contract, the Eagles would not be able to significantly increase Kolb's base salary. ESPN's Adam Schefter reported that the extension is worth $12.25 million, with all of the money guaranteed.
Banner indicated that if the 30-percent rule was not in place a long-term deal would have been hammered out.
"Kevin wants to be here for a long time. We want Kevin to be here for a long time," Banner said. "This was kind of a way to bridge us through this period of uncertainty and have him feel wanted and us feel secure that we weren't entering the last year of a guy we hope to have quarterback for many years to come.
"We didn't want to put Kevin in the position where he was playing this year as one of the lowest-paid players on the team. He didn't want to be in that position. We didn't want to put him in a position where he was in the last year of that deal and had all of this uncertainty about the future and he had no financial security."
The entire team reported to the NovaCare Complex on Thursday evening for a team meal and a meeting. The introductory full-team practice will take place on Friday. We will have highlights on Eagles Live! beginning at Noon. This will be the first chance for Banner to witness how an off-season full of trades, signings and draft selections comes together on the football field.
"I think it's been a very good off-season. We were aggressive," Banner said. "We were looking for every opportunity to make the team better. I think we approached the draft well, the preparation was outstanding. We were able to execute what we wanted to."
Banner noted three things that he's most excited about seeing this weekend: 1. The return of the injured players who are being counted on in 2010. 2. To see Kolb take charge of the team from a leadership and execution standpoint. 3. To see the rookies show in person what the team saw on film in college.
-- Posted by Chris McPherson, 6:55 p.m., April 29
