The full details are in for Arizona Cardinals wide receiver DeAndre Hopkins’ contract extension. He was given a two-year extension worth $54.5 million.
Here is how it breaks down.
He receives a $27.5 million signing bonus and will get an option bonus next year of $9 million. Both of those numbers will spread out for cap purposes over the life of the contract, through 2024.
His 2020 salary, originally scheduled to be $12.5 million, now is reduced to a fully guaranteed $1.5 million. The Cardinals gain $5.5 million in cap space this year.
Next year, he was originally going to have a salary of $13.5 million. He will get his $9 million option bonus but his salary will be a fully guaranteed $4.75 million, so he gets $250,000 more cash than he would have.
His 2022 salary, which was going to be $13.915 million, will be $6.65 million, but he gets a roster bonus of $10.65 million. He now will be paid a total of $17.3 million, an increase of nearly $3.4 million in cash he will be paid than before the extension.
In 2023, his salary will be $19.45 million and it will be $14.915 million in 2024, although his final year can void.
How can his 2024 year void?
Joel Corry explains for CBS Sports.
There are four different ways for Hopkins to get out of the final year. Hopkins can have his freedom by catching at least 400 passes, reaching 5,000 receiving yards, having 40 or more receiving touchdowns, or being named first team All-Pro/All-NFL four times. Accomplishing any of these four things will suffice.
That will give him to test the market again after the 2023 season. The Cardinals can’t trade him or use the franchise tag, so Hopkins will have leverage to get a new deal done.
Here is how each year breaks down for the salary cap.
2020: $1.5 million salary (fully guaranteed), $7 million cap hit ($5.5 million bonus proration)
2021: $4.75 million salary (fully guaranteed), $9 million option bonus, $12.5 million cap hit ($7.75 million bonus proration)
2022: $6.65 million salary, $10.65 million roster bonus, $25.05 million cap hit ($7.75 million bonus proration)
2023: $19.45 million salary, $27.2 million cap hit ($7.75 million bonus proration)
2024: $14.915 million salary, $22.665 million cap hit ($7.75 million bonus proration)
How the Cardinals can get out of the deal
The way the deal is structured, there is no getting out of the deal in 2020 and 2021 because of the guarantees.
They can cut him in 2023 and gain some cap savings if needed. It would save $11.7 million against the cap but there will be $15.5 million in dead money.
In 2024, if the deal voids or if he is cut, the Cardinals will save $14.915 million in cap space but have $7.75 million in dead money.
[vertical-gallery id=443573]
Listen to the latest from Cards Wire’s Jess Root on his podcast, Rise Up, See Red. Subscribe on Apple podcasts or Spotify.
Latest show:
Previous shows:
[protected-iframe id=”b982993d8c20b3c1204a481770f7fbae-112738498-106269283″ info=”https://api.spreaker.com/v2/episodes/29016811/download.mp3″ ]
and
[protected-iframe id=”682ebb6e7ef6b83ea73b8875d2f5241d-112738498-106269283″ info=”https://api.spreaker.com/v2/episodes/27243565/download.mp3″ ]