I called this one last week. With the mega deals other QBs have signed the past couple years, there’s no way arguably the best one in the league currently was going to be fine being paid something like 10th highest. I am very curious what the cap hits look like in 2 or 3 years.
It is interesting because he previously had a full 8 years left on his deal but now only has 3 left. They cut 5 years off his deal and then significantly raised his pay and made all of it guaranteed. That’s $210M guaranteed, no idea what the signing bonus is but he had a cap number of around $39M this year due to a salary of $5.5M, bonus proration of $8.7M and roster bonus of $22.4M, plus a couple other smaller items. If they drop that down to a $1M salary and, let’s say, a $120M signing bonus, that’s a cap hit of around $31M this year so they’d save a bit in 2023, but they’d have to give him pretty big salaries in the later years to make up the cash difference, leading to cap hits probably close to $60-70M at the end.
