"Terry brings another dimension to our receiving corps," said Sherman. "He has indicated to me in my conversations with him an intense desire to play at Lambeau Field in front of the Green Bay Packers' fans. I am enthused to get him here and have him become a part of this team." Glenn, 27, was seeking a $7 million signing bonus as part of a new deal, but that bonus likely will be less than half of that amount, reportedly around $1.5 million to $2 million. It also is thought to be an incentive-laden deal, depending how he performs on the field and acts off of it.
The 5-foot-11, 193-pound Glenn ranks among the Patriots' all-time top 10 in both receiving yards (fifth with 4,669) and receiving touchdowns (ninth with 22). He is the fourth-ranking receiver in New England's 42-year league history with 329 career catches.
"I'm excited to join the Green Bay Packers," Glenn said in a released statement. "I'm looking forward to being a part of the storied tradition that so many football fans follow with such incredible passion. To play for Coach Sherman and in the same offense with Brett Favre is a great opportunity. I want to contribute to the team in every way I can and help the Packers get to the championship level."
Part of the deal involved Glenn dropping his grievances against the National Football League that contested his drug suspension as well as his grievances against the Patriots. Glenn was suspended three times by the Patriots last year and the Patriots withheld about $8 million in deferred signing bonus payments. A signing bonus is usually the only guaranteed money that a player receives when he signs a contract.
An arbitration hearing was scheduled for today. Without such an agreement, the Pats would have been forced to absorb a salary cap hit of about $8 million, a total that represents the remaining pro-rated share of the $11.5 million signing bonus Glenn got when he signed a seven-year, $50 million contract extension in November of 2000.
With Glenn in the fold, the Packers will have to decide whether or not to pursue Bill Schroeder, the team's No. 2 receiver last year, and Corey Bradford. Both are unrestricted free agents. Bradford reportedly has drawn interest from the Houston Texans. Schroeder foray into free agency has been quiet thus far, according to reports.