Tag: Contract Details

Contract details for new Chiefs QB Blaine Gabbert revealed

The contract details for new #Chiefs QB Blaine Gabbert’s one-year deal have been revealed.

The Kansas City Chiefs officially signed former Tampa Bay Buccaneers QB Blaine Gabbert on a one-year contract last week. Gabbert joins a crowded quarterback room behind Patrick Mahomes, now working alongside Shane Buechele and Chris Oladokun.

According to the folks at Over The Cap, the 33-year-old received a veteran salary benefit with a $1.165 million base salary in 2023. He’ll also get a $152K signing bonus and $940K guaranteed at signing. During the 2023 NFL season, he’ll count $1,092,500 against the salary cap. They’re not saving much against the cap with this type of VSB contract, but they’re also not paying the full amount. Right now, Gabbert’s contract comes in with the 31st biggest cap hit for Kansas City.

It’s a bit surprising that Gabbert didn’t fetch more from a team looking for a veteran backup quarterback. He just worked behind Tom Brady for four seasons in Tampa Bay. It really suggests that the Missouri native was thinking about fit and coming back to the Midwest. 

While the Chiefs have maintained a veteran backup quarterback during the entirety of the Mahomes era, this contract hardly suggests that Gabbert is a lock to make the team. While the Chiefs wouldn’t save any money by releasing him, it’s not exactly a significant number of dead cap space to incur if Buechele were to beat him out for the No. 2 job.

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Contract details for new Chiefs WR Richie James revealed

The contract details for new #Chiefs WR Richie James’ one-year deal have been revealed.

The Kansas City Chiefs officially signed former New York Giants WR Richie James on a one-year contract last week. James was the first receiver the team signed in free agency this offseason, but his one-year contract doesn’t necessarily suggest that he’ll make the 53-man roster in Kansas City this fall.

According to the folks at Over The Cap, the 28-year-old’s contract is a one-year deal worth up to $1,232,500. He’ll earn a $1.08 million base salary in 2023, with a $152,500 signing bonus, but only $552,500 of the contract is guaranteed at signing. He’ll count $1.09M against the cap in 2023 and his salary cap hit ranks 31st on the team with only 63 players on the 90-man roster thus far.

The bottom line here is pretty simple. The contract is worth more than James got with New York a season ago, but this is structured in a way that doesn’t tie him to the Chiefs for 2023.

If a player like Ihmir Smith-Marsette or even a draft pick were to perform better in training camp and the preseason, Kansas City could cut ties with James without sweating the dead money. At the same time, if James were to earn a role as a depth wide receiver and produce at least as he did last season, this would be a pretty cushy deal for the Chiefs.

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Colts’ Isaiah McKenzie contract details

Here are the contract details for new Colts WR Isaiah McKenzie.

The Indianapolis Colts signed wide receiver Isaiah McKenzie during the second week of free agency, adding some depth to a position of need.

While McKenzie is likely to work solely out of the slot, he’s a nice depth addition to the room. It shouldn’t necessarily keep the Colts from adding more talent and upside via the 2023 NFL draft, but he has shown flashes throughout his career.

Now, we finally know what his contract will look like for the 2023 season. According to Joel A. Erickson of the Indianapolis Star, McKenzie signed for the veteran salary benefit.

Here’s how his contract breaks down on the one-year deal:

  • 2023 base salary: $1.08 million
  • $402,500 guaranteed
  • $152,500 signing bonus
  • $1.09 salary cap hit

As the likely replacement for Campbell in the slot, this is an extremely cheap deal. It will hardly have any impact on the salary cap for the Colts, and they could still get some decent production from him as a depth receiver.

But this contract hardly guarantees him a solidified role in the offense. McKenzie will certainly have his chances and likely will enter training camp as the favorite for the slot role, but it wouldn’t be a surprise at all if the Colts added some extra competition.

We’ll see what’s in store for the wide receiver position for the Colts throughout the rest of the offseason, but McKenzie will be in the competition for a role behind the starting duo at the top of the depth chart.

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Contract details for new Chiefs S Mike Edwards revealed

The contract details for new #Chiefs S Mike Edwards’ one-year deal have been revealed.

The Kansas City Chiefs have signed former Tampa Bay Buccaneers S Mike Edwards on a one-year contract. It was originally reported as a one-year deal worth up to $5 million, but at face value, it’s really a one-year deal worth right around $3 million.

According to the folks at Over The Cap, the 27-year-old Edwards will have a $1.08 million base salary in 2023, which is fully guaranteed. There is also a $1.4 million prorated bonus. The deal has $500K in per-game roster bonus. There’s also a $20K workout bonus attached to the offseason program. That’ll bring the 2023 salary cap number for Edwards to a grand total of $2,882,353 million.

That cap hit comes in at No. 13 for Kansas City this season, which puts him right in between 2020 NFL draft picks, CB L’Jarius Sneed and DE Mike Danna. It’s hardly a bad deal for a player with as much ball production as Edwards has during the course of his career.

There are no specific details on the incentives that could help raise the total value of the contract up to $5 million. However, these are likely not likely to be earned (NLTBE), which means they’ll count against the 2024 salary cap as opposed to 2023.

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Contract for new Packers S Tarvarius Moore will count less than $1M on 2023 salary cap

New Packers S Tarvarius Moore will have a cap number of $990,000 in 2023.

The contract for new Green Bay Packers safety Tarvarius Moore will count less than $1 million on the salary camp in 2023. As pointed out by Ken Ingalls, Moore signed a “veteran salary benefit” contract that lowers his cap hit this season.

The one-year deal has a base salary of $1,080,000 and a signing bonus of $50,000 but will count only $990,000 on the cap in 2023.

The veteran salary benefit rule was added to the CBA in 2020. The mechanism is used to provide smaller cap hits for veteran players with higher salary minimums. In this case, Moore’s minimum salary as a fifth-year player is $1,080,000, but the veteran salary benefit lowers his cap hit to the amount of the minimum of a player with only two accrued seasons ($940,000). Add in the $50,000 signing bonus, and Moore’s cap hit is $990,000 instead of $1,130,000. In other words, this rule saved the Packers $140,000 on the cap in 2023.

Moore, a third-round pick of the 49ers in 2018, arrives in Green Bay after playing 61 games and making 13 starts in San Francisco. While mostly a special teams player for the 49ers last season, Moore may have a chance to start for the Packers at a position lacking depth and experience at this point of the offseason.

Overall, new deals for Moore, kickoff returner Keisean Nixon, tight end Tyler Davis and long snapper Matt Orzech cost $5,980,000 on the cap in 2023. Contract details weren’t immediately available for safety Rudy Ford or cornerback Corey Ballentine.

Over the Cap has more on Moore’s contract here.

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Details of DE Marcus Davenport’s contract revealed

Davenport’s new contract with the #Vikings keeps his 2023 cap hit low but didn’t come without some risk to Minnesota’s future finances

The Minnesota Vikings were quick to secure the services of defensive end Marcus Davenport when free agency opened last week, and the details of his one-year contract were finally revealed on Sunday night.

Though this contract’s total value of $13 million was enough to lure him to the North Star State, the structure of the deal will keep his impact on the Vikings’ salary cap relatively low in 2023. Nearly all of this contract is guaranteed, and the $4.5 million signing bonus combined with the void years from 2024 to 2027 will spread out the financial toll of the agreement in the interest of minimizing its impact on the team’s short-term finances.

The cash-strapped Vikings couldn’t have made this deal happen without tacking on the void years to keep his cap hit manageable, though the strategy of gaining immediate talent at the expense of long-term stability could prove detrimental to the team in the long run.

After this season, Minnesota could end up paying Davenport for four years should they fail to re-sign him ahead of the 2024 season, which could present a quandary for the team if he doesn’t live up to expectations this year. Time will tell how this deal ends up affecting the team’s future, but for now, Vikings fans are sure to be happy that the team managed to sign the best available pass rusher on the market to bolster the team’s defense.

Adam Thielen’s new contract with Panthers puts Vikings request for pay cut to shame

Adam Thielen’s refusal to take a pay cut with the #Vikings paid off with his new three-year $25 million deal with the #Panthers

When the Minnesota Vikings asked wide receiver Adam Thielen to take a pay cut earlier in the offseason, he made the best possible decision for himself by politely declining to lower his $11.8 million base salary. After less than a week on the free agency market, Thielen signed a massive three-year $25 million contract with the Carolina Panthers on Sunday evening, securing a lucrative payday for himself through the end of the 2025 season.

Though the Vikings surely would’ve preferred to keep their home-grown receiver, the raw numbers of Thielen’s new deal would have proven to be more than they are currently equipped to offer him. Minnesota is still fighting salary cap constraints even after parting ways with him last week and will need to get creative to find money to pay prospective free agent targets as well as their draft class.

These considerations certainly aren’t the most exciting for Vikings fans who wish they could’ve retained the long-tenured receiver, though the writing seemed to be on the wall for Thielen’s future since the offseason began in February. Minnesota simply couldn’t afford the luxury of Thielen’s presence on their roster in 2023, and the Panther pounced on the opportunity to secure his services at the first chance they got.

Details of Dean Lowry’s contract have been revealed

Details of Dean Lowry’s deal with the #Vikings broke on Sunday evening after his signing with Minnesota on Friday

On Friday, it was announced that the Minnesota Vikings had agreed to terms with defensive lineman Dean Lowry. We now know the details of the contract.

On Sunday, Ben Goessling of the Star Tribune released the details of Lowry’s contract including the cap hits each year.

Contract Details

  • $3 million signing bonus
  • $4.2 million total guaranteed at signing
  •  Up to $250K per-game roster, $
  • $50K without bonus both years
  • 2023: $1.2M base (fully guaranteed)
  • 2024: $3.7M base (guaranteed for injury now, fully guaranteed third day of ’24 league year), up to $750K incentives

Cap Hits

  • 2023: $2.02 million
  • 2024: $4.6 millon
  • 2025: $1.8 million (dead money from void years)

The contract between Lowry and the Vikings appears to be a manageable one. With reasonable cap hits and performance incentives, Lowry has the potential to make a significant impact on the team’s defensive line.

As long as he continues to perform at a high level, the investment made by Minnesota should prove to be worthwhile.

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Colts’ Tony Brown contract details

Here are the contract details for Colts CB Tony Brown.

The Indianapolis Colts re-signed cornerback Tony Brown during free agency, adding some depth to the defense while keeping a special teams contributor around.

It’s just a one-year deal for the 27-year-old so there isn’t a whole lot to break down. According to Aaron Wilson of Click2Houston, here’s how the one-year deal looks.

  • $1.08 million base salary ($347,500 guaranteed)
  • $152,500 signing bonus

The Colts have a massive need at the cornerback position following the trade that sent Stephon Gilmore to the Dallas Cowboys. With both Kenny Moore II and Isaiah Rodgers Sr. in contract years, the room is incredibly thin.

We should expect the Colts to make a move both in free agency and the 2023 NFL draft while Brown continues his work as a depth piece on defense and a mainstay on special teams.

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Colts’ Gardner Minshew contract details

Here are the contract details for Colts QB Gardner Minshew.

The Indianapolis Colts signed quarterback Gardner Minshew to a one-year deal and we now know how that contract breaks down.

Detailing one-year contracts doesn’t take a whole lot effort, and most of them are pretty straightforward as expected. The same will go for Minshew, who has a chance to make up to $5 million when the season is all said and done.

According to Aaron Wilson of Click2Houston, here’s how the one-year deal for Minshew breaks down:

  • Signing bonus: $1.75 million (guaranteed)
  • 2023 base salary: $1.75 million (guaranteed)
  • $2 million playtime incentive

It’s a very straight forward deal. Minshew will get a minimum of $3.5 million even if he never plays a single snap for the Colts in 2023.

And if the Colts had their choice, that’s likely how it would go. Not because Minshew isn’t talented or valuable but because that means whichever rookie quarterback they select in the 2023 NFL draft was on the field for the entire season.

However, in the event that Minshew does need to step in—due to injuries or rookie development—there is an incentive to add $2 million to his earnings for the upcoming season.

Those incentive landmarks were not disclosed so we have no idea what percentage of snaps he needs to play in order to reach that goal.

Signing Minshew was a no-brainer. He’s one of the best backup quarterbacks in the NFL and has flashes of being a borderline starter at times. He’s loved in every locker room he steps in, and he has two full seasons of experience working in Shane Steichen’s offense.

Keep up to date with the latest news, signings and rumors through our free agency tracker for the Colts.

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