Wentz contract details

[Scott Dierking]

Now that the details are known, the Eagles actually did a very good job here. They have protected themselves.

 

 

By Zack Rosenblatt | NJ Advance Media for NJ.com

Philadelphia Eagles quarterback Carson Wentz signed the richest contract in franchise history last week, locking him into the organization that drafted him until 2024.

The value of the contract was reported as four years and $128 million — with an NFL-record $107.9 million guaranteed — tacked onto the two years he’s already under contract now from his rookie contract signed in 2016.

Now, via ESPN’s Field Yates, more specific details about the year-to-year structure of the deal are known.

Here’s the year-to-year breakdown, per Yates ...

Signing bonus: $16,367,683

Incentives/escalators: $16 million

2019: $720,000 base salary

2020: $1.383 million base salary, $8 million roster bonus

2021: $3.9 million base salary, $10 million roster bonus

2022: $18.5 million base salary, $1,000 roster bonus

2023: $18 million base salary, $5 million roster bonus

2024: $21 million base salary, $5 million roster bonus

One of the more interesting aspects of this reported structure is the reduced cap hit in 2021, when the “extension” technically kicks in. Without knowing how the hit of the signing bonus will be stretched out, it looks like 2021 will be the smallest cap hit over the course of the contract.

Also: Outside of 2020, Wentz’s cap hit, as the contract is currently structured, won’t actually exceed $30 million, which is a boon for the Eagles’ cap sheet.

Of note, Wentz is fully healthy and participating in mandatory minicamp without restrictions, the first time he’s done so since 2017. For the Eagles, they’re, in part, happy that the deal is taken care of now so it can’t become a distraction later in the offseason.

I think that’s probably the biggest thing, just that lingering distraction,” Eagles coach Doug Pederson said on Tuesday. "I don’t have to stand up here and answer questions over and over and over again; get it behind us now. I’m excited for Carson and his family and for the Eagles organization that we were able to extend him.

“I’ve said this all along,” Pederson added, “that he and I came in this league together. Rookie quarterback and rookie head coach. We’re sort of married to this deal, too. I’m excited. Puts it behind him. He can focus on ball. We don’t have that lingering distraction into training camp or into the regular season. We can just focus on football.”

Zack Rosenblatt may be reached at zrosenblatt@njadvancemedia.com.Follow him on Twitter @ZackBlatt. Find NJ.com on Facebook.

 

 

[Apache 51]

Mutualism at it's best

[JohnnyLV]

The more I think about the Wentz extension the ore I think it could become one of the worst contracts of all time. I would never have signed him to this until he has shown he can stay healthy,

[Bleedin Green]

6 minutes ago, johnnysd said:

The more I think about the Wentz extension the ore I think it could become one of the worst contracts of all time. I would never have signed him to this until he has shown he can stay healthy,

It's definitely a bit of a gamble, but how the contract is ultimately viewed will be dependent on how Wentz holds up from here.  If the health issues don't continue on, it'll likely eventually be seen as a steal.

It's essentially the modern-day equivalent of the contract the Jets' gave to the noodle all of those years ago.  Of course, the key difference being Wentz has actually played well when available and not used his health as an excuse for poor performances on the field.

[JohnnyLV]

1 minute ago, Bleedin Green said:

It's definitely a bit of a gamble, but how the contract is ultimately viewed will be dependent on how Wentz holds up from here.  If the health issues don't continue on, it'll likely eventually be seen as a steal.

It's essentially the modern-day equivalent of the contract the Jets' gave to the noodle all of those years ago.  Of course, the key difference being Wentz has actually played well when available and not used his health as an excuse for poor performances on the field.

True, but there's just something about Wentz, that doesnt sit well with me. He is a great player make no mistake, but he has not shown he can stay healthy, and I get the feeling he is all about himself and not really a team guy. I think he will sit with injuries many other QBs would play through, and I think he has the personality that his drive might not be the same with all the money. We will see. It could turn out to be a steal as you say, but it could be a franchise crippler too.

[GumboBoat]

33 minutes ago, johnnysd said:

The more I think about the Wentz extension the ore I think it could become one of the worst contracts of all time. I would never have signed him to this until he has shown he can stay healthy,

This. Bum knee and broken back. Wake me when he has more playoff wins than Mark Sanchez (not suggesting Sanchez is better but it illustrates the absurdity). Getting rid of Foles will haunt this team.

[Scott Dierking]

1 hour ago, johnnysd said:

The more I think about the Wentz extension the ore I think it could become one of the worst contracts of all time. I would never have signed him to this until he has shown he can stay healthy,

The Eagles can cut him very easily after 2021.

 

[Bleedin Green]

1 minute ago, Scott Dierking said:

The Eagles can cut him very easily after 2021.

 

That is completely dependent on what that guaranteed amount really represents.  Is that fully guaranteed, or guaranteed only for injury?  Because, based on those numbers, it's suggesting that it is only the final year of the deal that isn't guaranteed.

[greenwave81]

I don’t see in those details $107 million in ‘guaranteed’ money ....not even close. 

[Scott Dierking]

3 minutes ago, greenwave81 said:

I don’t see in those details $107 million in ‘guaranteed’ money ....not even close. 

You would have to assume that some of the guaranteed money is contained within the base salary.

The real question would be, if he is cut, does he get his base salary "guarantees"?

[greenwave81]

The way I see it, the $107 million ‘guarantee’ is if he remains on the team through the entire contract, he gets $107 million..and the $124 max is the $107 above plus meeting the incentives/escalators for another $16 million. 

If what was reported is correct, the Eagles can cut him after 2021 for little impact to their cap. 

Largely the only guarantee I see is the $16 mill SB he just got

[Scott Dierking]

1 minute ago, greenwave81 said:

The way I see it, the $107 million ‘guarantee’ is if he remains on the team through the entire contract, he gets $107 million..and the $124 max is the $107 above plus meeting the incentives/escalators for another $16 million. 

If what was reported is correct, the Eagles can cut him after 2021 for little impact to their cap. 

Largely the only guarantee I see is the $16 mill SB he just got

That is the way I see it as well.

[BUM-KNEE]

1 hour ago, GumboBoat said:

This. Bum knee and broken back. Wake me when he has more playoff wins than Mark Sanchez (not suggesting Sanchez is better but it illustrates the absurdity). Getting rid of Foles will haunt this team.

You rang? 

[Bleedin Green]

8 minutes ago, greenwave81 said:

The way I see it, the $107 million ‘guarantee’ is if he remains on the team through the entire contract, he gets $107 million..and the $124 max is the $107 above plus meeting the incentives/escalators for another $16 million. 

If what was reported is correct, the Eagles can cut him after 2021 for little impact to their cap. 

Largely the only guarantee I see is the $16 mill SB he just got

If that's really the case, then the reports to this point, including this one, have been outright wrong.  While there are certain amounts that get counted in the guaranteed numbers even if potentially unearned, such as roster bonuses, that logic has never been applied to salary amounts beyond the first year unless there are actually guarantees written into the contract associated with those salaries.  Granted, it could be a limited guarantee (such as for injury), in which case an earlier cut is possible, but it absolutely would not be counted as a guaranteed amount if it's simply base salary for future years.

So basically, either there are some sort of guarantees at play here, or Wentz's agent is simply completely full of crap, although in that case you would think that would've come to light when the contract details came out.

[thshadow]

2 hours ago, Scott Dierking said:

Now that the details are known, the Eagles actually did a very good job here. They have protected themselves.

Why do you say they're protected?  The breakdown didn't list which $108m was guaranteed.  And I didn't see it listing any kind of "guaranteed for skill only".

 

 

[Scott Dierking]

26 minutes ago, thshadow said:

Why do you say they're protected?  The breakdown didn't list which $108m was guaranteed.  And I didn't see it listing any kind of "guaranteed for skill only".

 

 

It appears they can get out of the contract with minimal impacts to accelerating cap-breaking bonuses.

It all depends on how much of the base salary is "guaranteed" and if it is guaranteed if he is not on the roster.

[Beerfish]

Our new Gm screwed philly before he left....excellent.

[thshadow]

16 minutes ago, Scott Dierking said:

It all depends on how much of the base salary is "guaranteed" and if it is guaranteed if he is not on the roster.

$107.9M is guaranteed according to the article.  IOW, pretty much all of it.

[Scott Dierking]

10 minutes ago, thshadow said:

$107.9M is guaranteed according to the article.  IOW, pretty much all of it.

It depends on language. There needs to be detail if the future years "guaranteed" money in base salary is actually earned if he is not on the roster. I would suspect it isn't.

[IndianaJet]

Great work by our boy Joe!!!!!

[JohnnyLV]

The numbers in the post and the reported contract do not align at all. Even if all the salaries are fully guaranteed thats only $70 million and thats not really possible.By the way the NFL usually does "guarantees" it looks like only $18.5 million is really guaranteed which would be a good contract for Philly. Nothing on overthecap yet

[greenwave81]

12 minutes ago, thshadow said:

$107.9M is guaranteed according to the article.  IOW, pretty much all of it.

I think the article is ‘mis-using’ the term guaranteed as it is understood in NFL parlance...

because NFL salaries are not guaranteed and a lot of the money in that contract is ‘roster bonuses’

I see this contract as the Eagles saying ‘here’s $16 million to protect ourselves by adding a few more years to your rookie deal if you stay healthy, but if you ain’t playing you’ll be dropped in 2021’

[IndianaJet]

Here's a very lengthy and detailed breakdown on "Bleeding Green" Nation

 

https://www.bleedinggreennation.com/2019/6/12/18662951/carson-wentz-contract-details-extension-philadelphia-eagles-quarterback-nfl-comparison-cap-hit-bonus

[greenwave81]

7 minutes ago, IndianaJet said:

Here's a very lengthy and detailed breakdown on "Bleeding Green" Nation

 

https://www.bleedinggreennation.com/2019/6/12/18662951/carson-wentz-contract-details-extension-philadelphia-eagles-quarterback-nfl-comparison-cap-hit-bonus

Interesting but need a CPA degree to understand lol. Thx. 

Hard to believe a team would ‘guarantee’ $100+ million to a guy that hasn’t even finished the last two seasons

[thshadow]

Not sure why people keep saying "guaranteed" in quotes.  Guaranteed has a very specific meaning for NFL contracts.  The only "kindof" guarantees are guaranteed for injury, or guaranteed for skill.

If the article says $108m is guaranteed, then either (a) that's wrong, or (b) he will get that $108M eventually, even if he gets cut tomorrow. 

Again, if $108M is actually guaranteed, then Philly has no way to get out of the $108M.

 

[Scott Dierking]

45 minutes ago, thshadow said:

Not sure why people keep saying "guaranteed" in quotes.  Guaranteed has a very specific meaning for NFL contracts.  The only "kindof" guarantees are guaranteed for injury, or guaranteed for skill.

If the article says $108m is guaranteed, then either (a) that's wrong, or (b) he will get that $108M eventually, even if he gets cut tomorrow. 

Again, if $108M is actually guaranteed, then Philly has no way to get out of the $108M.

 

"Guaranteed" does not mean guaranteed in NFL contracts. There can be conditions.

[thshadow]

The article said " with an NFL-record $107.9 million guaranteed ".  That has a very specific meaning.  "Guaranteed" means there no conditions (other than if it's only guaranteed for skill or guaranteed for injury).

Note that overthecap currently shows this

https://overthecap.com/player/carson-wentz/4715/

"based on tweets" (i.e. still preliminary).  overthecap shows it as only having $20M guaranteed.

So maybe the initial reports of $108M guaranteed will turn out to be wrong?

 

[Sperm Edwards]

1 hour ago, thshadow said:

The article said " with an NFL-record $107.9 million guaranteed ".  That has a very specific meaning.  "Guaranteed" means there no conditions (other than if it's only guaranteed for skill or guaranteed for injury).

Note that overthecap currently shows this

https://overthecap.com/player/carson-wentz/4715/

"based on tweets" (i.e. still preliminary).  overthecap shows it as only having $20M guaranteed.

So maybe the initial reports of $108M guaranteed will turn out to be wrong?

 

It's ambiguous, no doubt. Usually when they're being cute with the term they sneak in phrases like, "$108 million in total guarantees." This is a bit more absolute-sounding. Also it's a young FQB contract so they typically get 3 years fully guaranteed. $108MM would be a little more than 3 years in terms of average money, but not by much. Not to mention the payout in the first 3 years is $108MM.

What isn't addressed is if it's an absolute or effective extension. Specifically, until that magic date arrives, the 5th year option for 2020 was not yet guaranteed for skill (only injury). While the guaranteed vs total numbers really, really line up to look like they include the first 3 of the 4 extension years, it's not explicitly said that all the guaranteed money is on the 4 new years.

The reality is the 5th year option is not 100% fully guaranteed, so if the $108MM guarantee is all on the add-on years, in real terms they've effectively guaranteed $108MM plus the original 5th year option amount. Have a tough time believing an agent would leak less absolute guarantees than he actually got for his client, so the guaranteed amount probably starts with this year's pay (money he was 100% getting anyway) and next year's (money he was 99% getting anyway unless he had a healthy 2 TD : 23 INT season in 2019). 

Most likely it has turned his upcoming 2 years of team control into an upcoming 6 years of team control and all the $108MM in guarantees are not only in the 4 new add-on years.

[Philc1]

Pennington 2.0