The Chargers and Mike Williams agreed to a contract extension to keep the big-bodied wide receiver in Los Angeles for the next three seasons.
Here is what we know about Williams’ new contract:
Williams’ contract is worth $60 million for three years, with $40 million guaranteed, including a $21 million signing bonus.
His signing bonus ($21 million), 2022 salary ($7 million), and 2023 salary ($12 million) make up the fully guaranteed money.
Los Angeles has a potential out in 2024 to save $20 million in cap space with a $7 million dead money charge.
Assuming no voids, his cap hit in 2022 will be worth $14 million, $19 million in 2023, and $27 million in 2024, according to Over The Cap.
After Williams’ new deal, L.A. currently has the fifth-most salary cap space in the NFL ($42.3 million).
One of the potential cap causality is tackle Bryan Bulaga, who if/when he is released, the Chargers would save an additional $10.8 million.