Denver Broncos might only end up spending $3 million on Shaun Phillips.

Shaun Phillips was expecting a big payday this free agency period. Sure, he deserved it after sacking the quarterback 9.5 times last season. After he sat on the shelves during free agency and didn’t get much attention, Phillips finally caved and signed with the Denver Broncos. ProFootballTalk has his contract numbers.

After a great season last year, Phillips will only be earning a base salary of $1 million, not a penny of which is guaranteed. There’s a chance to earn $2 million more in incentives. For those that can’t do math this means the Denver Broncos might only end up spending $3 million on Phillips.

There has been talk in the media (read Pete Prisco) that the new CBA has contributed to this offseasons’ cheap contracts. While many veterans believed the new CBA would force teams to spend the money saved on rookies on vested veterans, it has actually done the opposite. Teams have opted to sign inexpensive rookies instead; cheap labor.

Phillips now merely serves as an example of what veterans can expect from now on. Dwight Freeney knows this very well.