The Jacksonville Jaguars have announced that a new contract has been reached with fullback Greg Jones.  A source with knowledge of the contract tells us that it’s a five-year, $17.4 million deal, which includes up to $3 million incentives.  (We’ve been unable to reach agent Drew Rosenhaus to confirm these numbers.)

Per the source, Jones will receive $4.5 million in bonus money, in the form of a $2.5 million signing bonus, a $1.5 million roster bonus due on the third day of the 2008 league year, and a $500,000 roster bonus due in 2009.

In each year of the deal, Jones gets a per-game roster bonus worth a total of $50,000, and a workout bonus in the amount of $50,000.

The base salary in year one is $525,000.  In 2009, it goes to $2.48 million.  For 2010, the base salary is $3 million.  In 2011, it’s $3.1 million.  For 2012, it moves to $3.4 million.

The base deal averages $3.4 million over five years, $400,000 per year more than the six-year, $18 million deal signed last year by Ovie Mughelli, who moved from the Ravens to the Falcons.

Jones would have been eligible to reach free agency on February 29.