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Packers sign Nick Perry to 5-year deal worth $60 million, including $18.5 million signing bonus, per report

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Perry averages $12 million annually on the new contract.

NFL: NFC Wild Card-Green Bay Packers at Washington Redskins Tommy Gilligan-USA TODAY Sports

With time running out before the official start of free agency, the Green Bay Packers secured a deal for pass rusher Nick Perry. Now, the financial details of the contract have surfaced. According to ESPN's Rob Demovsky, the contract pays out $60 million over five years and includes an $18.5 million signing bonus.

In terms of structure, the deal features roster bonuses of $4.3 million in 2018 and $4.8 million in 2019. Perry will earn base salaries of $1.3 million, $1.9 million, $5.2 million, $9.6 million, and $9.4 million in each respective year of the contract chronologically, plus another $5 million in workout and per-game roster bonuses.

Barring a restructure or release before the expiration of the contract, Perry will count $6 million, $10.9 million, $14.7 million, $14.3 million, and $14.1 million against the cap respectively over the next five seasons.

A former first-round pick, Perry struggled to produce during the first four seasons of his career as he dealt with a series of injuries. That changed in 2016, as the outside linebacker enjoyed a breakout, 11-sack campaign. Those efforts, along with the dearth of pass rushers available on the open market, made Perry one of the most coveted free agents on the market.

With Perry under contract, the Packers can turn their full attention to retaining Pro Bowl guard T.J. Lang. Lang and other free agents can officially sign with other teams Thursday at 3 p.m. CT.