Total Value – 5 years, $65,000,000 – $13 million per year.
FOF Projection – 5 years, $68,750,000 – $13.75 million per year.
Stephon Gilmore Contract Length
Five years is fairly standard for NFL players signing long-term deals. Gilmore will be 31 at the end of this deal and should be able to get one more shorter-term, fair market deal if he continues his level of play.
Stephon Gilmore Contract Compensation
Gilmore wound up as the second highest-paid cornerback in this year’s free agent class with A.J. Bouye netting $500,000 more per season from Jacksonville. The former did get a far more secure and player-friendly contract, however. His $13-million average makes him the sixth highest-paid cornerback in the league (excluding Trumaine Johnson’s $16.7-million franchise tag).
Gilmore earns $42 million in the first three years of the deal, with a $23-million first-year cashflow. $2.5 million of his deal is tied to per-game roster bonuses for being on the active 46-man game day roster ($500,000 per season; $31,250 per game).
Stephon Gilmore Contract Guarantees
He definitely got one of, if not the, strongest contracts in free agency this year. With $40 million guaranteed and $31 million fully guaranteed, Gilmore is sure to see a large chunk of this deal regardless of how he performs.
The $40 million guaranteed and $31 million fully guaranteed are slightly different than they appear. His 2017 and 2018 base salaries are fully guaranteed while $9 million of his 2019 base is guaranteed for injury only at signing. If Gilmore is on the roster on the third day of the 2019 League Year, the $9-million injury guarantee becomes a $5-million full guarantee.
The dead money in Gilmore’s contract keeps him really safe for three seasons and in a good place to get through four years, barring an extreme drop in level of play. It’s the cap-hit-to-dead-money ratio that really highlight the security differences between Gilmore and Bouye’s contracts. Gilmore’s contract carries more dead money for a longer time, so the team eats a bigger accelerated cap charge and saves less cap space by releasing him.
The chart below has a rundown of the two contracts cap-hit-to-dead-money ratio:
Stephon Gilmore Cap Hits
His contract provides manageable annual cap hits for the Patriots. After an initial $8.6-million hit in year one, his yearly charge starts at $12.6 million and grows by a million each year before peaking at $15.6 million in 2021.
2019 is the first year the Patriots can save cap space by releasing Gilmore, but freeing up $2.8 million in cap—while eating a $10.8-million dead money charge and possibly paying out $5 million in cash—is cost prohibitive.
Stephon Gilmore Contract Summary
Although the FOF projection was a little less than a million dollars off, let’s be honest: Stephon Gilmore got paid. So much so that Malcolm Butler isn’t very happy about it and is meeting with the Saints at team headquarters. He can be acquired by a trade due to his first-round, restricted-free-agent tender. Gilmore and his team did a great job getting this deal done.