Harrison Smith’s new contract sparks retirement discussion

Does Harrison Smith’s contract restructure signal his retirement after the 2024 season?

Being the ultimate team player for the Minnesota Vikings has been a theme in the history of Harrison Smith’s career. He took a sizable pay cut in 2023 and did so again this season.

The details for his $5.45 million pay cut have been revealed and they are very interesting.

  • 2024 base salary dropped from $14.9 million to $1.49 million
  • $7 million signing bonus
  • $510k in per game roster bonuses
  • 2024 salary cap hit: $7.315 million, down nearly $12 million
  • 3 void years added
  • 2025 base salary dropped from $19 million to $1.255 million

The way this contract is structured leads us to believe that Smith is likely going to retire after the season. The Vikings could designate Smith as a post-June 1st cut once the 2025 league year starts and save $4.2 million on the salary cap with a cap hit of just $5,315,884.

At 35 years old, Smith is nearing the end of his career and it’s not uncommon for players to make their contracts team friendly at the end to minimize the salary cap impact. Aaron Donald did as such before he retired last week.

Chase Young’s unique contract structure makes Saints deal look better than expected

Chase Young’s unique contract structure makes his deal with the Saints look better than expected. See for yourself:

Now this is interesting. It’s been a whirlwind of a week for Chase Young and the New Orleans Saints — fans following this saga were surprised to see him sign a fully-guaranteed $13 million contract on Monday, which turned out to be for just one year, before it was reported that Young will be undergoing neck surgery. That procedure is going to sideline him into training camp.

And now there’s another twist as the full picture becomes clear. The Saints knew about Young’s medicals before they agreed to this contract, and it’s structured in such a unique way that they’re protected in case he misses time recovering.

CBS Sports’ Jonathan Jones first reported that the Saints signed Young to a deal that includes $7.99 million in per-game roster bonuses, which he will only receive if he’s active each week during the 2024 season. So Young risks losing $470,000 for every game he’s unavailable, giving him a strong incentive to attack his rehab and get back on the field as soon as possible.

Additionally, Jones reports that Young’s base salary is just $2.7 million. He also received a $1.86 million signing bonus and a $450,000 workout bonus. That means Young’s contract is effectively a $5.01 million deal with another $7.99 million he can earn through being active in every game. Any games he misses will result in a salary cap credit going back to the Saints in 2025. If things take a bad turn and Young never plays a down for New Orleans, the team will get the full $7.99 million back next season.

Obviously they hope that won’t come to pass. Everyone involved is eager for Young to get healthy and play a productive 17 games in the fall (and then some; it’s playoffs or bust for underperforming head coach Dennis Allen). To that end, betting on his upside is worthwhile.

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New contract details for Packers CB/KR Keisean Nixon

The Packers gave Keisean Nixon a $6.5 million signing bonus in his three-year, $18 million deal.

New contract details are in for Green Bay Packers cornerback Keisean Nixon. According to Over the Cap and Ken Ingalls, Nixon’s deal includes a $6.5 million signing bonus, a roster bonus of $2.8 million in 2025 and a 2024 cap number of under $4 million.

Nixon’s deal pays out $8.8 million in 2024 and $18 million over the three years. The only guaranteed money is the $6.5 million signing bonus. The Packers included $200,000 in annual workout bonuses and $500,000 in per-game roster bonuses.

The Packers are paying Nixon — a first-team All-Pro at kickoff returner in 2022 and 2023 and the defense’s starter in the slot in 2023 — as an expected starter and impact special teamer for 2024 and beyond. He turns 27 in June and is now under contract through his age 29 season.

Nixon’s cap number will be $3.99 million in 2024 and never rises above $7.2 million.

Here are the numbers and structure, via Over the Cap and Ingalls:

Year Base Signing Roster Per game Workout Cap number
2024 $1,125,000 $2,166,666 $500,000 $200,000 $3,991,666
2025 $1,170,000 $2,166,666 $2,805,000 $500,000 $200,000 $6,841,666
2026 $4,300,000 $2,166,666 $500,000 $200,000 $7,166,668
Total $6,595,000 $6,500,000 $2,805,000 $1,500,000 $600,000 $18,000,000

In terms of money paid out in 2024, Nixon currently ranks 23rd among cornerbacks. Even if he doesn’t play out the final year of the deal, Nixon will make $13 million across the first two years of the contract.

Nixon led the NFL in kickoff returns and kickoff return yardage in each of the last two seasons, and he played over 800 snaps on defense across 17 games in 2023.

Ex-Broncos WR Jerry Jeudy signs big contract with Browns

There’s no way the Broncos would have given this contract to Jerry Jeudy, so trading him made sense.

The Denver Broncos trading wide receiver Jerry Jeudy to the Cleveland Browns for a pair of late-round picks makes even more sense after seeing the contract extension Jeudy just received.

In addition to improving their draft capital, the Broncos also freed up $12.987 million in 2024 salary cap space when they traded Jeudy to the Browns last week. Cleveland promptly gave the receiver a three-year extension through the 2027 season, the team announced Tuesday.

The three-year extension is worth “up to” $58 million, according to NFL Netowrk’s Ian Rapoport, and it includes $41 million fully guaranteed. Knowing that was the kind of contract Jeudy was seeking, it’s no surprise that Denver traded the receiver instead of attempting an extension.

If Jeudy managed to max out the full $58 million through incentives, he would average about $19.33 million per year in Cleveland. The Broncos were never going to give him that kind of deal.

Jeudy gets a fresh start in Cleveland with a big payday and Denver gets more salary cap space for 2025 and beyond.

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Report: Saints wrote injury protections into Chase Young’s contract

NOF’s Nick Underhill reports that the Saints wrote injury protections into Chase Young’s contract, though he’s expected to be ready in time for the regular season:

This is a bit of a relief. The New Orleans Saints wrote injury protections into their free agent contract with defensive end Chase Young, per NewOrleans.Football’s Nick Underhill. We’ll have to wait and see what shape those protections take, but typically they wipe out guarantees to save salary cap resources if a player doesn’t meet certain performance goals for play time. That can mean either games started, a percentage of snaps played, or something similar.

News broke Tuesday that Young would be undergoing neck surgery after signing his fully-guaranteed $13 million contract with the Saints, which sparked an uproar among Saints fans. While the reported expectation is for Young to miss most of the offseason program and return during training camp, there’s always the chance of complication or slow recovery. He isn’t expected to miss the start of the regular season. If he does miss time in September, the Saints have taken steps to protect themselves.

And Young knows that. He’ll have every incentive to attack his rehab and get back on the field as soon as possible. He won’t see the full $13 million he agreed to play for if he doesn’t. So it’s good to see the Saints were being proactive, too. Stay tuned for further details.

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Chase Young undergoes neck surgery after signing with the Saints

Chase Young underwent neck surgery after signing with the Saints. He isn’t expected to be ready for training camp:

This sure dampens the mood for New Orleans Saints fans. Their team’s shiny new free agent acquisition is going on the mend until July — if not longer. ESPN’s Adam Schefter reports that Chase Young underwent neck surgery after signing a one-year, fully-guaranteed $13 million contract with the team.

Schefter says that while Young is expected to return in time for the start of the regular season in September, recovery from this procedure will “sideline him into training camp.” So fans shouldn’t expect to even see Young on the practice field until August. Young played through the injury last season for two different teams but requires this now procedure in order to continue his career.

While Schefter says that teams were aware of this medical situation, and that “the Saints were comfortable moving ahead with it,” it’s very disappointing for a team with such a lengthy history of injuries at the defensive end position. Marcus Davenport and Payton Turner, both first-round draft picks, spent extensive time in trainer’s room early in their careers. Young is quite literally following in their footsteps. Hopefully everything will go as planned so that Young can hit the field in Week 1 and make a positive impact.

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Breaking down D.J. Reader’s free agent contract with the Lions

Breaking down D.J. Reader’s free agent contract with the Lions, which is different that originally reported

The Lions addressed the hole in the middle of the defensive line with one of the biggest free agents on the market in D.J. Reader. It turns out they filled the hole with less expense than expected.

Over The Cap has the contract figures for Reader and what the 30-year-old nose tackle signed for in Detroit. Although many originally reported it as two years and $27 million, in fact, it’s just $22 million for those two seasons.

It breaks down pretty favorably for the Lions:

$6.215 million signing bonus

2024 base salary of just $1.21 million, which is fully guaranteed

2025 base salary: $6.29 million

Total of $7.465 million guaranteed at signing

Three void years, which amortizes the signing bonus over five years at $1.243 million per year

There is a $5.303 million cap hit for 2024 that escalates to $12.243 for a cap figure in 2024.

Teaming up Cameron Jordan with Chase Young could bring out the best of them

Teaming up Cameron Jordan with Chase Young could bring out their best. Their strengths and weaknesses compliment each other:

Look at Chase Young and Cameron Jordan and you’ll see two players in very different stages of their careers. Jordan is putting the finishing touches on a career he hopes will earn him a place in the Pro Football Hall of Fame. Young is joining the New Orleans Saints with visions of catapulting his career to greater heights, where he’ll earn a life-changing contract in a year or two and join Jordan on that Hall of Fame trajectory.

And Jordan, 10 years Young’s senior, is a different player now than he was a decade ago. He’s still reliable in run defense; few defensive ends set a harder edge and give up less ground when opposing offenses test them. However, age and injuries and wear and tear have taken a toll, and Jordan lacks that extra step to close in on the quarterback and finish a distracting pressure with a drive-killing a sack.

Young is in the opposite situation. He’s as disruptive against the pass as they come, consistently beating his blocker off the snap and getting into the backfield to breathe down the quarterback’s neck. But he’s known as someone who shies away from contact when teams run at him, with a bad habit of loafing around and letting his teammates rally to the ball instead.

So this is a unique opportunity for them to bring out the best in each other. At this stage in his career, Jordan should be a two-down player who can stop the run and bring some pressure when teams drop back to pass. And Young is exactly the type of player who should be stepping in for him on third downs and obvious long-yardage passing situations, where he won’t be asked to hold ground in run defense. They can play to each other’s strengths while minimizing their weaknesses.

Having the two of them together is a good teaching opportunity, and it’s something Young says he’s looking forward to experiencing. Young was asked about the situation the Saints have set up for him to learn from Jordan,  which he says he’s eager to embrace.

“That’s definitely something big for me, that I’m excited to do,” Young said Monday during his introductory press conference. “A future Hall of Famer, a guy who I can spend time with, who I can just absorb the game from. I’m definitely excited about Big Cam.”

Jordan was miscast as the Saints’ No. 2 pass rusher last year even before an ankle injury set him back through the back half of the season; Carl Granderson is a fine No. 2 option himself, but the group was missing a lead rusher to stet them both up for success. Young can do that. He had more pressures (74, including the playoffs) than both Granderson (58) and Jordan (45).

Even if Young is focused on playing the pass, there should be plenty of snaps to go around. The Saints faced 226 third downs last year. Opposing offenses needed 10 or more yards on 15 first downs and 133 second downs. If Young subbed in for Jordan on that exact number of plays (and, for the sake of this exercise, they were all passes by the offense) then it would be 374 pass rush snaps, which is comparable to the split Bryan Bresee saw at defensive tackle in his rookie year; he played the pass on 386 snaps while stopping the run just 148 times. A similar rotation could benefit Young and Jordan, too.

Letting players do what they do best sounds easy enough, but it can be tough to pull off. Ambitious young men don’t want to leave the field any more than their prideful elders. But the Saints didn’t sign Young without a clear vision for how he’ll fit into their rotation. If he takes point on passing downs (which, for the Saints, were about 67.2% of their defensive snaps in 2023) with Granderson rushing off the opposite end and Jordan putting his efforts into stopping the run, it just might bring out the best in everyone. That has to be the plan with Jordan’s career drawing to a close and Young hoping to cash in after playing out this prove-it deal in New Orleans. Let’s see if the team can carry out that vision, or if they have something else in mind.

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Broncos pick up Courtland Sutton’s contract guarantee

The Broncos seem unlikely to release Courtland Sutton after guaranteeing $2 million of his salary. A trade might still be possible, though.

Denver Broncos wide receiver Courtland Sutton had a $2 million injury guarantee in his contract that was set to become fully guaranteed on the fifth day of the NFL’s new league year (March 17).

The deadline has since passed and Sutton is still on the roster, so that $2 million is now locked in for the 2024 season. Sutton’s base salary will be $13 million this year and his total salary cap hit will be just north of $17.39 million.

The Broncos could still save $7,745,588 in salary cap space if they release Sutton, but if the team planned to do that, he likely would have been cut before his injury guarantee became fully guaranteed. Sutton now seems more likely to remain in Denver, but a trade could still be in play.

Reports emerged last week that the Broncos planned to keep Sutton and defensive lineman D.J. Jones in 2024 despite their large cap hits. Denver could save $9.97 million in cap space if Jones is released.

Elsewhere on the contract front, right tackle Mike McGlinchey also had his $17.5 million injury guarantee for 2025 vested into a full guarantee on the fifth day of the new league year. The Broncos are now essentially locked into McGlinchey’s contract for the next two years.

Denver saved about $11 million worth of 2024 salary cap space when McGlinchey restructured his contract before NFL free agency. McGlinchey is a lock to remain with the team in 2024. Sutton and Jones seem likely to stick around, but trades can’t be ruled out in the coming months.

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Saints guaranteed every dollar of Chase Young’s $13 million contract

The New Orleans Saints guaranteed every dollar of Chase Young’s $13 million contract. But his real salary cap hit might be much lower:

Whew. This is a big deal. The New Orleans Saints guaranteed every dollar of their $13 million contract with free agent defensive end Chase Young, as reported by ESPN’s Adam Schefter and confirmed by CBS Sports’ Josina Anderson.

But as is always the case with this team, don’t expect that to mean a simple $13 million salary cap charge on their accounting books. Depending on how this deal is structured, Young’s cap hit for 2024 could be as low as $3.5 million. Here’s how the accounting would look with four “ghost years” set to void at the end of the 2024 league year:

  • 2024 salary: $1,125,000; signing bonus proration: $2,375,000
  • 2025 signing bonus proration: $2,375,000
  • 2026 signing bonus proration: $2,375,000
  • 2027 signing bonus proration: $2,375,000
  • 2028 signing bonus proration: $2,375,000

The risk in doing this is that the Saints would be left with a dead money cap charge of $9.5 million next offseason should Young not re-sign on a new deal.

But the Saints have shown us before they’re comfortable paying that if need be. Andrus Peat is counting against the cap by more than $13.6 million and Marcus Maye has a dead money hit of $8.1 million for 2024 — and they both visited the Tennessee Titans on Monday as free agents who the Saints chose to let go. They paid comparable dead money hits in 2023 for David Onyemata ($10.1 million) and Marcus Davenport ($7.6 million).

If this is the route the Saints go, choosing to create short-term flexibility while jeopardizing future cap resources, it’s only a problem if Young fails to perform as expected in 2024. If he turns out to be a free agent bust and both sides move on, well: the Saints will have bigger problems to worry about  than where 3.4% of their salary cap is going. It’ll mean the pass rush failed to show up, again, and that the team lost a lot of games. And that Dennis Allen probably isn’t their head coach anymore. So when you take a big-picture view, this isn’t as big a gamble for the Saints at it might look at first glance.

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