Seneca Wallace's extension with Seattle included an $800,000 roster bonus paid in mid-August. He's earning another $700,000 in base salary this season. His 2006 cap number is around $1.5 million. His 2007 salary is scheduled to be $800,000. We could call this a $1.6 million extension (roster bonus plus 2007 salary). Or we could say he's under contract through 2007 for $2.3 million (roster bonus plus 2006 and 2007 salaries).
Here is the situation: If Wallace plays well this season, he might draw some trade interest in the offseason. That would be good for Wallace and good for the Seahawks. Seattle could weigh its trade options against any of the veteran QBs available in the market.
Wallace signed the deal not knowing if he would get a chance to play. Maurice Morris proved last season that it's tough to get good money when you hit the market without having played. Morris took a relatively modest deal to stay in Seattle. Wallace is getting a chance to put up some numbers. A big game against the 49ers would leave him in pretty good position. These are a few things to consider when making sense of this belatedly reported extension.