Coley Harvey of ESPN broke down the contract of Campbell, and less than half of his contract's max value is guaranteed:
According to Campbell's contract details obtained by ESPN Stats & Information, the signal-caller will be making $400,000 of guaranteed money this year. That's slightly down from the $500,000 of guaranteed cash he agreed to last season when he played in nine games with the Browns. Much like his overall salary from Cleveland, Campbell this season will boast a cap value in Cincinnati of $1.5 million.
It's for that reason that you probably shouldn't be surprised if the Bengals still end up drafting a quarterback in May, even after signing Campbell to the one-year deal.
Here are the full details of Campbell's contract:
Cap value: $1,500,000
Cash value: $1,500,000
Signing bonus: $400,000
Roster bonus: $0
Workout bonus: $100,000
Base salary: $1,000,000
Guaranteed money: $400,000
Assuming Campbell goes through all of the offseason workouts, he'll make $500,000 before the regular season opener. That's chump change for an NFL team with $132 million of cap to work with, so it looks as though Campbell isn't guaranteed to have a roster spot this year.