Josh Norman's bet on himself has turned into at least $14 million. $13.952 million, to be exact.
That’s the amount he's fully guaranteed to make in 2016 after the Carolina Panthers on Tuesday officially put the franchise tag on their top cornerback. The cost of Norman's tag is calculated by averaging the top five salaries at his position.
Because the Panthers are using the non-exclusive option, other teams can approach him with offers. If that happens, Carolina could match, and if they don't, they'd receive two first-round picks.
"I’m excited that Josh will be back with the Panthers next season," coach Ron Rivera said in a statement. "He played very well for us this year and was a big part of the success we enjoyed as a team."
The Panthers had until 4 p.m. ET Tuesday to do what the entire league’s seen coming to past couple months.
With only a short window to negotiate after the Panthers’ Super Bowl season, both sides were essentially resigned to continuing talks during the summer. Now they have until July 15 to iron out a long-term deal.
"Josh has worked hard to develop himself into a very good player," general manager Dave Gettleman said. "We appreciate the role he plays for us in our defense and we look forward to having him back for the 2016 season."
Norman, who will turn 29 in December, wants to be paid like a top-3 corner. That means an average of at least $14 million per season.
It’s unclear how high the Panthers are willing to go right now, but Gettleman has previously indicated he values positions such as pass rushers more than cornerbacks. Also, $14 million would eclipse the $12.36 million annual salary linebacker Luke Kuechly is set to make after signing his new deal last summer.
If Norman doesn’t land a long-term contract, he’s still in line for a healthy raise. He earned $1.54 million this past season, an average of $96,250 per game. Under the tag, he would make $872,000 per game.
“I bet on myself my whole life,” Norman said before his breakthrough season. "Until now, I’m still betting on myself."
And while he waits for something to happen the next four and a half months, there's no reason to think he won't remain all-in.