Derrick Harvey Completes 1st Round Draft Signings

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Source: John Clayton, ESPN.com

Jacksonville Jaguars first-round draft pick Derrick Harvey has ended his 33-day holdout Wednesday after reaching agreement on a five-year contract that could be worth $30 million. A month of stalled negotiations came to an end when Harvey and the Jaguars found creative ways to get around the differences between the seventh pick and the ninth picks in the draft. According to a source, Harvey will receive guarantees of $17,177,500. Harvey was the last first-round draft pick to sign. His base package will be $23.8 million over the five years. The key tradeoff that ended the holdout was the ability to get $6.2 million of incentives and escalators based on playing time. A source said the escalators and incentives have less of a trigger than those of the picks above and below him. If Harvey becomes a Pro Bowl-caliber player, the contract could max out at $33.4 million. The Jaguars traded into the No. 8 spot in the draft to acquire Harvey to improve their pass rush as they chase the Indianapolis Colts in the AFC South. The plan is for Harvey, who missed all of training camp and the Jaguars' first three preseason games, to reach the Jaguars' headquarters on Wednesday for a physical. If he gets there in time, he will try to join the team for its trip to the Washington Redskins on Thursday, the team's preseason finale. Harvey had 20.5 career sacks at Florida and was the defensive most valuable player of the 2007 BCS national title game against Ohio State.

The Jaguars liked -- and needed -- Harvey so much that they traded up 18 spots to get him. They may not have expected him to be so expensive, however. But linebacker Vernon Gholston, selected with the sixth pick by the New York Jets, signed a five-year deal worth $50 million, with $21 million guaranteed. And New Orleans gave the No. 7 pick, defensive tackle Sedrick Ellis, a five-year deal that reportedly included $19.5 million guaranteed. Harvey's agent wanted a similar deal, but the Jaguars refused to give the rookie more guaranteed money than they gave quarterback David Garrard, who signed a six-year, $60 million extension that included $18 million guaranteed. It was the richest contract in franchise history.