So what`s the matter? Why would a team hesitate to create a cap space through a simple mechanism? The answer is that it can be as simple as it would affect the next contract negotiation with Wilson. It`s just been two years since the Hawks and the team announced that Wilson had agreed on a contract that would make him the highest-paid quarterback in the NFL and the first player in the NFL with $35 million a year, but that doesn`t mean the team isn`t keeping an eye on what might come out on the road. In short, the team used several ceiling management methods to create space for ceilings this spring, but didn`t bother to take the step that seemed like the easiest way to quickly create cap space by simply restructuring Wilson`s contract. That restructuring would be easy, and as former agent Joel Corry noted in February, the team doesn`t even need Russell`s permission to restructure the deal and create the capping space it wants. Wilson`s current contract runs through the 2023 season, so it`s likely that both sides will work to negotiate Wilson`s fourth contract in about 24 months. For those who have forgotten, here are the hats Wilson is supposed to wear during the last three seasons of his contract: The exact amount of the franchise label fluctuates, of course, but one important thing to keep in mind in the future is that the cap on the franchise label is the highest of the tender amount set by the CBA, or 120% of the player`s ceiling hit last year. That`s relevant for Wilson and the Seahawks, as negotiations over Wilson`s 2024 results will begin at what it would cost the team to keep Wilson on franchise day. As of now, Wilson`s camp negotiations for the 2024 and 2025 seasons would begin at $105.6 million for the two years. These figures are calculated using 120% of the Wilson ceiling reached for 2023 as land for 2024 and 120% of the ceiling reached for 2024 as the floor for 2025. In short, right now, Wilson`s camp has all the levers in the world to demand and maintain $105.6 million for the 2024 and 2025 seasons. As with all quarterback contracts in the NFL, the starting point for contract negotiations is, of course, franchise day. The Dallas Cowboys have had their heads back on a plate in their negotiations with Dak Prescott, in part because of the team`s use of the franchise label in 2020. However, it seems that the Seattle front office is working carefully not to dig into a future hole due to the mechanics of the franchise label.
Russell`s 4-year contract extension with the Seahawks in 2019 is worth $140 million and is among the most expensive contracts signed by an NFL quarterback. When Russell Wilson signed his four-year contract, he still had one year left on his old contract. As a result, Wilson essentially signed on for five seasons. 2023 is the final of these seasons. Just 27 months ago, the Seahawks made Wilson the highest-paid player in the NFL, signing him for a four-year, $140 million contract extension that reset the quarterback market. Wilson is now on a four-year, one-year contract, meaning there are still three seasons left on the contract, or at his age of 35. Russell will also receive $6 million as a basic escalator, which will be based on its performance in recent years. Under the terms of the deal, Russell earns $250,000 per Bowl, $500,000 per Super Bowl MVP, $500,000 for Offensive Player of the Year and $250,000 each for a 66 percent success rate, 4,000 passing yards and 36 touchdown passes. The agreement also includes a full no-trade clause.
Russell Wilson signed a four-year contract extension with the Seahawks in 2019, totaling $140 million, making Wilson the highest-paid player in the NFL at the time of signing. The contract included $107 million in guarantees, of which $70 million was fully guaranteed upon signing, including a signing bonus of $65 million. However, let`s assume the Seahawks` front office decides to restructure Russell`s contract and create a cap space in 2021 by converting base salary into a signing bonus. Assuming the team decides to create the maximum available cap space — $11,950,000 — by converting the maximum allowable amount of Wilson`s base salary into a signing bonus, the impact on Wilson`s caps over the next three seasons will be as follows: In the background, the Seahawks have limited space. They need to free up space if they want to add reinforcements to a team that has struggled on the track. As a result, the Seahawks could restructure or extend Wilson`s contract to free up more space in 2021. However, if Wilson`s frustrations are true, what are the Seahawks` options when it comes to a potential trade? In short, doing nothing more than converting Wilson`s base salary into a signing bonus gives Wilson a fully justified basis for basing his salary demands on his upcoming $121,374,000 contract in the first two years of the deal. Basically, simply restructuring Russ` contract by converting base salary into a signing bonus to create a cap space in 2021 changes absolutely nothing about the amount or timing of money Wilson owes, but gives Russ and his agent Mark Rodgers huge leverage when it comes to negotiating what`s next. From the perspective of Wilson and his agent, based on a cap of $45.975 million in 2023, the starting point for a contract extension for 2024 and 2025 is again what it would cost the team to keep the player with the franchise label. Given that the franchise label is the higher of the amount set by the CBA, or 120% of the player`s cap reached the previous year, this would create a situation for Wilson where his cap reached for 2024 and 2025 would be $55,170,000 and $66,204,000, respectively. However, at this point in the offseason, it looks like the team will explore almost every other alternative to create a capping space, rather than restructuring the contract for either of these two. First, this offseason, the team fired two of its best defensive linemen in Carlos Dunlap and Jarran Reed in cap-related moves instead of restructuring Bobby or Russ.
Then the front office went from a team that had never used invalid years in contracts to one of the largest numbers of contracts that included invalid years, within a few weeks. Finally, the team used a fully guaranteed option bonus in 2022, which is actually a deferred signing bonus, in the contract extension that Tyler Lockett signed this spring. With $13 million in pro-rated bonuses already available for Russell Wilson`s contract over those two years, it may not be desirable to add an additional $5 million. Wilson has salaries of $19 million and $21 million, respectively, for the two years. In addition, both seasons are associated with $5 million in roster bonuses. Wilson already plans to add $37 million and $39 million to the cap in 2022 and 2023, respectively. As for the Seattle Seahawks, many were quick to demand that the team restructure the contracts of Russell Wilson or Bobby Wagner and convert the base salary into a signing bonus to free up space for a summer spending spree. Names on fans` wish lists include former Hawks like K.J. Wright, Richard Sherman, Golden Tate and others, as well as a host of other players who have never worn the Seattle uniform.
Add to that the recent rumors about the availability of a Julio Jones, which could be a slightly better-than-mediocre wide receiver available in stores to see the rest of Russell Wilson`s breaches of contract and have access to all of Spotrac`s premium tools, sign up today. Already a subscriber? However, Wilson is one of the best quarterbacks in the league, so if he needs overtime, the Seahawks should be serious. This then leads to the question of what is actually at the top of the market. Mahomes` contract is worth $45 million because he tied him to the Kansas City Chiefs for ten seasons, and a four-year contract extension will come with a different time bonus than a ten-year contract. That said, a four-year extension, which happens to be the length of time the Hawks seem to prefer, covering 2024 to 2027, leads to an even more expensive comparison of Mahomes. Specifically, the cap on Mahomes` contract during that four-year period is as follows: The question for Seahawks fans who insist Wilson isn`t being traded and that he`s in Seattle for the long term is whether they feel comfortable giving Wilson a four-year contract extension somewhere in the $200 million range. If not higher.. .