Tag: contract option

Jeff Okudah 5th-year contract option value is revealed

The NFL released the 5th-year contract option values for the 1st rounders in the 2020 NFL draft including Lions CB Jeff Okudah

One of the decisions facing the Detroit Lions this offseason is the longer-term fate of cornerback Jeff Okudah. Like all other first-round picks from the 2020 NFL draft, Okudah has a fifth-year option in his rookie contract that is at the club’s discretion to exercise.

We now know the value of that fifth-year option for Okudah. The NFL released the values of the options, which are based on positional franchise tag values and certain playing time and accomplishment benchmarks.

For Okudah, he failed to earn any Pro Bowl berths or hit the playing time escalators, thanks to an Achilles injury in 2021. That leaves his option value for the 2024 season at $11,514,000.

Detroit has until May 1st to choose to exercise the option.

No matter what the Lions choose by the deadline, which hits right after the 2023 NFL draft ends, Okudah is under contract in Detroit through the upcoming season. Not exercising the option doesn’t necessarily mean Okudah will be done in Detroit after the 2023 season, either.

Not having the option picked up doesn’t rule out the player and team reaching an agreement on a different extension or a free agent deal once the rookie contract is done, though that’s not something that commonly happens. Likewise, teams are free to move on from players whose options they do pick up, a la Baker Mayfield with the Browns in 2022.

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Brad Holmes: Lions will pick up 5th-year option on T.J. Hockenson

Holmes told reporters the team will pick up the 5th-year contract option on TE T.J. Hockenson

One of the many questions facing the Detroit Lions in the coming months was answered on Tuesday by GM Brad Holmes. During his time with reporters at the NFL owners’ meeting in Florida, Holmes declared the team will pick up the fifth-year contract option on tight end T.J. Hockenson.

“Hockenson, obviously, he’s a big part of what we did last year,” Holmes said. “It was unfortunate when he became unavailable for us, but he’s another (player) that we’ll continue to lean on this year.”

Picking up the option was likely not a difficult decision. Hockenson has emerged as one of the NFL’s better tight ends, earning a Pro Bowl berth in 2020 and leading the Lions in reception (61) and yards (583) prior to a season-ending injury after 12 games.

Because of the Pro Bowl nod, Hockenson’s option price is a little more expensive. He will earn $9.4 million in 2023, fully guaranteed. Hockenson and the Lions are free to work out a contract extension at any point, too. The deadline for the team to pick up the option is May 2nd.

 

Broncos decline Garett Bolles’ 5th-year option for 2021

The Broncos have opted not to pick up Garett Bolles’ fifth-year option for the 2021 season.

The Denver Broncos have declined left tackle Garett Bolles’ fifth-year option for the 2021 season, the team announced Friday.

If the option had been picked up, Bolles would have been owed a little more than $11 million next season. Instead, Bolles is now set to become a free agent next spring.

Bolles (6-5, 300 pounds) was selected by the Broncos in the first round of the 2017 NFL Draft (20th overall). Bolles has done a great job staying healthy, starting 48-straight games, but his performances have been inconsistent.

Bolles has allowed 15.5 sacks in his career, an average of 0.323 sacks per game, which isn’t a terrible average. He has averaged nearly one penalty per game, though, and that’s a big problem. Opposing teams have accepted 10-plus penalties called against Bolles in each of the last three seasons.

This offseason, Bolles will compete with Elijah Wilkinson for the starting left tackle job.

Bolles is set to have a base salary of $1,969,351 in 2020, according to Spotrac.com. By the time his four-year rookie contract expires, Bolles will have earned a total of $11,243,509.

Bolles will have a salary cap hit of $3,510,154 this season (that’s his base salary plus $1,540,803 from a prorated signing bonus cap hit).

Entering his fourth season, Bolles will turn 28 years old on May 27.

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Broncos pick up contract options for 3 players

The Broncos have picked up contract options for three players.

The Denver Broncos picked up the 2020 contract options for outside linebacker Von Miller, kicker Brandon McManus and inside linebacker Todd Davis on Friday, the team announced.

The team declined the contract option for guard Ron Leary, a move that will save more than $8 million in salary cap space. Denver now has around $41.9 million in cap space. That number could increase to $51.95 million if the Broncos move on from quarterback Joe Flacco.

By picking up Miller’s option, the Broncos are guaranteeing $6 million of his 2020 salary. Denver guaranteed $1 million for McManus and just $500,000 for Davis, according to KUSA-TV’s Mike Klis.

The Broncos also placed a franchise tag on safety Justin Simmons on Friday. Denver general manager John Elway will now prepare for the start of the NFL’s free agency negotiating period (March 16) and the beginning of free agency (March 18). After tagging Simmons, the Broncos now have 14 players scheduled to become unrestricted free agents.

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Broncos picking up contract options for 3 players

Broncos will pick up the contract options for Von Miller, Todd Davis and Brandon McManus this offseason.

Broncos general manager John Elway said at the NFL combine on Tuesday that the team will not pick up guard Ron Leary’s contract option for the 2020 season. Moving on from Leary will save Denver more than $8 million in salary cap space.

Elway also announced that the team is picking up the contract options for kicker Brandon McManus (a $1 million option) and inside linebacker Todd Davis (a $500,000 option). Elway previously announced late last year that outside linebacker Von Miller will have his option picked up.

Miller will have the most expensive cap hit on the team this year: $25,625,000. Davis ($6 million) and McManus ($4.25 million) have much smaller but still significant cap charges.

Before making any moves, the Broncos are projected to have around $62 million in cap space, according to OverTheCap.com. Removing Leary from the team’s books should bring that total to about $70 million. If Denver cuts quarterback Joe Flacco, that total could increase to more than $80 million.

The new league year — and NFL free agency — will begin on March 18.

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Broncos won’t pick up Ron Leary’s contract option for 2020

After declining Ron Leary’s contract option, the Broncos will save more than $8 million in salary cap space.

Ron Leary’s time with the Broncos appears to be coming to an end.

On Tuesday, Denver general manager John Elway told media members at the NFL combine in Indianapolis that the team won’t pick up Leary’s contract option for the 2020 season. That means the 30-year-old guard is set to become a free agent next month.

Leary will have a “dead money” salary cap hit of just $875,000 and the Broncos will save around $8,437,500, according to OverTheCap.com.

Leary (6-3, 320 pounds) signed a four-year, $36 million deal with Denver in 2017. He has struggled to stay healthy, missing 19 games — the equivalent of a full season plus three games — over the last three years.

After moving on from Leary, the Broncos appear poised to bring in a starting-caliber guard this offseason. Dalton Risner will start on one side — Denver will now need a replacement for Leary on the other side.

The new league year — and NFL free agency — will begin on March 18.

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