Calvin Johnson Gets New 8-Year Contract Worth $132 Million

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VIDEO: 1 Lions Fan's Reaction To Calvin Johnson's New Deal

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Calvin Johnson Would Like A Ferrari FF, Please

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Lions Free Agency 2012: Calvin Johnson Under New 8-Year Deal, No Extension

The Detroit Lions made it a point to get star wide receiver Calvin Johnson signed as soon as the season came to an end. It took a lot longer than many figured it would, but Johnson did have a year remaining on his rookie contract, so the team wasn't in any immediate danger of losing him. They ended up signing Johnson for eight years - through 2019, which is a little different from the initial reports.

Initially, it was said that Johnson was signed to a seven-year extension, which would imply that Johnson would play out 2012 on his rookie deal, but Tim Twentyman cleared things up on Twitter:

Lets be clear that this is a new 8-year deal through 2019. Johnson will not play out last year of rookie deal.

— Tim Twentyman (@ttwentyman) March 14, 2012

That really does make sense, given just how productive Johnson is and the fact that his new deal is the richest in NFL history in regards to guaranteed dollars, with $60 million overshadowing the other marks handily. In getting so much guaranteed money, the Lions were able to give him less salary in 2012 so they can shift some cap around, saving around $9 million in space while still, as they put it: "paying the man."

For more on the Detroit Lions, check out Pride of Detroit. You can also head over to SB Nation's main NFL hub at SBNation.com/NFL.

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Lions Free Agency 2012: Calvin Johnson Extension Will Save Cap Space, According To Report

Signing superstar receiver Calvin Johnson to a seven-year, $132 million extension was a win in more ways than one for the Detroit Lions: it saves the team $9 million in cap space, according to a report.

The Lions, who had previously had to maneuver numerous other contracts just to get under the cap in time for the start of the new league year, will benefit in the short term from the new flexibility created. Under his previous deal, Johnson was slated to have a cap hit near $20 million for the 2012 year.

The team will announce the extension for Johnson at a Wednesday afternoon press conference, and the deal will make him the richest wide receiver in league history. He was a 2011 All-Pro selection and the NFL's leader in receiving yards with 1,681.

For more on the Detroit Lions, check out Pride Of Detroit. For more on the NFL free agency in general, head to the specialized hub for 2012 NFL free agency orsbnation.com/NFL.

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Lions Free Agency 2012: Calvin Johnson's Agent Will Meet With Lions On Saturday

While NFL free agency doesn't officially begin until next month, and Calvin Johnson will not be a free agent, the Lions are working hard to get one of the best wide receivers locked up for the foreseeable future. According to Dave Birkett of the Detroit Free Press, Megatron's agent will meet with the Lions on Saturday, hoping to hammer out a long-term deal:

"We’ll see where it goes, but we’ll certainly work toward trying to get it done and get it done quickly," Cook said. "Hopefully, we can get something done in the next few weeks."

Johnson is entering his final year of his rookie contract, which will hit the team's cap at about $22.5 million. The Lions are making headway in extending Johnson, but they also have to consider maintaining financial flexibility while doing so:

"We can handle Calvin's numbers - we have to," Mayhew said Friday morning at the NFL Scouting Combine in Indianpolis. "Obviously, we have a lot more flexibility having more cap room, so we have a desire to get that done. But we have a way to handle his number."

That number ultimately may very well make him the highest paid receiver in the NFL, but Lions head coach Jim Schwartz wants everyone to understand that it's not as simple as throwing a lot of money at Johnson despite both sides wanting the same end result:

"We still have a long way to go before we're in that situation, but Calvin is important to us," Schwartz said. "We talked about a couple of guys being in there that are important to us. Calvin is obviously important to us, but it's not as easy as just saying we want him around, and he wants to be around. There's a lot more to it. Hopefully, when it's all said and done he'll be a Lion for life."

For more on the Lions, head over to SB Nation's Detroit Lions blog, Pride Of Detroit.