The Kansas City Chiefs have signed former San Francisco 49ers DE Charles Omenihu on a two-year contract. Just as initially reported, Omenihu has the ability to earn up to $20 million with $2 million in playoff incentives each year, but the deal is essentially a two-year contract worth $16 million.
According to the folks at Over The Cap, $10.6 million is guaranteed with $8.6 million fully guaranteed at signing. He carries a low $1.08 million base salary in 2023, which increases to $6.740 million in 2024. He’ll earn $7.5 million in prorated bonus money over the two years of the deal and $510K in per-game roster bonus in 2024. He’ll earn just $170K in workout bonus over the life of the contract.
Omenihu carries a $4.8 million cap hit in 2023, which is currently the eighth-highest on the team. That cap number will balloon to $11.1 million in 2024, but will only rank as the seventh-highest on the team. That’s, of course, without any new extensions, restructures, cuts, or signings.
The Chiefs can get out of the contract after just one year, incurring just $3.75 million in dead money charges and saving $7.4 million against the salary cap. They’d have to make that decision before the third day of the 2024 league year at which point another $2 million in Omenihu’s contract becomes guaranteed.
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