Texans Sign Matt Schaub to Six-Year Deal

Quarterback Matt Schaub signed a six-year, $48 million contract with the Houston Texans on Thursday according to NFL and team sources. The deal officially finalizes the rumored trade of Shaub from the Atlanta Falcons to the Houston Texans.

The deal is also expected to make Schaub an instant starter with the Texans.

Schaub, a three-year veteran, has yet to win a regular-season start and has barely completed over 50 percent of his pass attempts in his three-year stint in Atlanta.

As part of his deal, Schaub will receive $7 million in guarantees and will earn about $20 million during the first three years of his contract. After the first three seasons, the Texans will need to pay Schaub a $10 million option bonus in March 2010 to trigger the final three years of the contract to keep him from becoming a free agent.

The Houston Texans actually paid David Carr a "buy back" bonus of $8 million last sprint to reinstate three years of his contract that he had voided. The Schaub signing most likely will end Carr's time with the Texans.

On Wednesday night, Schaub's agent Joby Branion said the Schaub deal was "a real contract." This meant that it was starting quarterback money, which was proved when the terms of the contract were released.

It also means that because of the size of the contract, Schaub will be the new Texans starter. For Schaub, a third-round pick in the 2004 draft, it means a significant raise. If Schaub had not been traded and had signed the one-year restricted free agent qualifying offer from the Falcons, Schaub would have only had a base salary of $2.3 million for 2007.

For the Falcons, the trade allows them much needed cap room by not having to pay the $2.3 million qualifying offer it made to Schaub in the spring, and will allow them to spend the money elsewhere.

The Falcons also received a swap of first-round draft picks in 2002 and second round picks in the 2007 and 2008 drafts. This also provides them with greater flexibility in terms of making moves.

The Falcons now have three draft selections among the top 44 picks in this year's draft. The eighth pick in the first round, and the seventh and 12^th picks in the second round. The Falcons will have the option of improving the team with those picks or they could use them to try and move up in the first round.

Sources:
http://abclocal.go.com/wls/story?section=sports&id=5136901
http://news.cincypost.com/apps/pbcs.dll/article?AID=/20070322/SPT0301/703220322/1035
http://www.team4news.com/Global/story.asp?S=6261909&nav=0w0x