Detroit Lions restructure Jared Goff’s contract, create $15M in cap space for 2021

As many expected, the Detroit Lions have restructured quarterback Jared Goff’s contract, according to ESPN’s Field Yates. Annually, the Lions converted $ 20 million of Goff’s $ 25.325 million base salary into a signing bonus for the 2021 season. This gives Goff the ability to pocket $ 20 million instantly while the $ 20 million cap is spread over the next four seasons.

Instead of a cap hit of $ 25.235 million, Goff’s will only have a base salary of $ 5.65 million, with only $ 5 million of that signing bonus counting towards the cap. In other words, the Lions just released $ 15 million in cap space. As our own Andrew Kato pointed out Tuesday, this step was necessary for the Lions to continue free agency movements and still be able to pay for their upcoming design class.

Of course, there are now long-term ramifications for this step. The signing bonus is now spread over the next four seasons and increases its cap hit by $ 5 million for 2022, 2023 and 2024. While Goff had no potential dead cap after 2022, he will now have a dead cap in 2023 and $ 5 million dead cap in 2024 if the Lions decide to part ways with him.

In other words, this locks Goff up with the Lions for at least the next two years, with a cap of just $ 10 million in 2023 if they decide to release him this off-season.

Here is a year-by-year breakdown of what his contract looks like now.

2021:

Base salary: $ 5.625 million
Proportional signing bonus: $ 5 million
Cap Hit: $ 10.625 million

2022:

Base salary: $ 10.65 million
Proportional signing bonus: $ 5 million
Roster bonus: $ 15.5 million
Cap Hit: $ 31.25 million
Dead cap when cut: $ 30.5 million

2023:

Base salary: $ 20.65 million
Proportional signing bonus: $ 5 million
Roster bonus: $ 5 million
Cap Hit: $ 30.65
Dead cap when cut: $ 10 million

2024:

Base salary: $ 21.65 million
Proportional signing bonus: $ 5 million
Roster bonus: $ 5 million
Cap Hit: $ 31.65
Dead cap when cut: $ 5 million

To give you an idea of ​​how much those cap hits are compared to the rest of the league, Goff counts here among the quarterbacks of cap hits per year.

2021: $ 10.625 million – 17th.
2022: $ 31.25M – 9 ..
2023: $ 30.65 million – 7th.
2024: $ 31.65 – 4th (only five QBs signed through 2024)

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