Logan Thomas

Contract Details: Chubb, Thomas, Allen, Wilson

By Andrew Ortenberg | at August 1, 2021 6:42 pm

Let’s catch up on the details of some of the big contracts recently signed around the NFL:

• We heard last night that Browns running back Nick Chubb was signing a big three-year extension worth $36MM with $20MM guaranteed. We’ve got the full equation now, thanks to what a league source told Jason Fitzgerald of Overthecap.com. For starters, Chubb is getting a $12MM signing bonus. It also turns out that not *quite* $20MM is fully guaranteed. The actual guarantee is only $17.133MM. However, it’s almost effectively $20MM, since the other $2.87MM in guarantees vests in 2022 and it’s incredibly unlikely Chubb would be off the roster by then. Chubb will have low salaries and low cap hits in 2021 and 2022. In 2023, he’ll have a cap hit of $14.85MM. He’ll have a $10.85MM salary but only the $2.87MM of that will be guaranteed. In 2024, he’ll have a non-guaranteed salary of $11.775MM and a cap hit of $16.2MM for his final year.
• Washington just made Logan Thomas the seventh highest-paid tight end in the game, and now we have new figures on his deal. His three-year, $24MM extension will give him a cap hit of $6.465MM in 2022, $8.75MM in 2023, and $8.315MM in 2024, John Keim of EPSN.com reports. The dead cap hits for those three years will be $7.465MM, $3.5MM, and $1.75MM respectively. In other words it won’t be too hard for the team to get out of the contract after 2022 if they wanted to. Thomas will receive a $300K roster bonus each season, and is due a $500K roster bonus on the fifth day of the 2024 league year, so that will be an important date in the final season of his new pact.
• Thomas wasn’t the only player to get an extension from Washington this past week. The Football Team also gave defensive tackle Jonathan Allen a big four-year, $72MM deal. We didn’t previously know the full guaranteed amount, but it’s apparently $35.6MM. Allen’s cap hits for those four new seasons will be $9.5MM, $21.5MM, $21.5MM, and $23MM, Keim writes. As such, he won’t start really weighing down Washington’s books until 2023. He has a $14MM salary for that season which becomes guaranteed on the third day of that league year. His dead cap charges will be $26MM, $18MM, $12MM, $6MM for 2022-2025.
• Zach Wilson and the Jets avoided potential disaster by agreeing to terms on his rookie deal right before training camp started, and now we have more context on the holdup. We knew there was an issue about potential signing bonus money deferment, and it turns out New York wanted the rookie quarterback to wait to get a significant amount of cash. The Jets “only opened negotiations last week,” and wanted Wilson to defer a whopping $6MM of his signing bonus to 2022, a source told Jeff Howe of The Athletic (Twitter link). After the team relented and agreed to pay the whole signing bonus upfront, Wilson hopped on a plane to New York. In return, the Jets did get some of the offset language they were seeking.