Ever since the first report came out on Thursday saying that NFL owners and players had agreed to a new rookie wage system, details have been leaking out about what the new system entails. We already know that under the new system first-round picks will get four-year contracts with an option for a fifth year, but that was about it. NFL Network's Albert Breer has more details on the system:
More on rookies: Year 5 option for Top 10 picks is avg of Top 10 salaries at the position. For Picks 11-32, it's avg of salaries 3-25 ... That figure will be derived from Year 3 figures for player. So 2013 salaries will set the option price for 2011 picks.
Teams will have the option to pick up the option for the fifth year of the first-round picks' deals. If they opt to pick up the option, the player will get an average salary based on what players at his position make and based on where he was picked, as the tweet above states.