Now, let’s take a full look at one veteran contract to explore some of these concepts we’ve discussed (i.e. guaranteed money and dead money) using Russell Wilson‘s 2019 contract extension (four years, $140 million) as an example.
- Guaranteed money: $107.0 million.
- Fully guaranteed money: $70.0 million.
- Signing bonus: $65 million — $13.0 million in cap space for five seasons (four years of extension plus one remaining season from prior contract).
2019: $26.3M cap hit – $78.3M in dead money = -$52.0M in cap savings
2020: $31.0M cap hit – $70.0M in dead money = -$39.0M in cap savings
2021: $32.0M cap hit – $39.0M in dead money = -$7.0M in cap savings
2022: $37.0M cap hit – $26.0M in dead money = +$11.0M in cap savings
2023: $39.0M cap hit – $13.0M in dead money = +$26.0M in cap savings
Cap savings: pre-June 1 release
Russell Wilson guarantees by year at signing:
– Signing bonus: $65 million
– 2019: $5 million base salary
– Full guarantee total: $70 million
Remaining partial guarantees (injury only)
– 2020: $18.0 million base salary (became fully guaranteed on Feb. 7, 2020)
– 2021: $19.0 million base salary (becomes fully guaranteed on fifth day of 2021 waiver period)
– Total partial guarantees: $37.0 million
TOTAL GUARANTEES: $107.0 million