Rams vs. Bengals, Financially

Michael Ginnitti
Michael Ginnitti, Managing Editor & NFL/MLB ExpertJanuary 31, 2022
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#los angeles rams #cincinnati bengals
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The Rams & Bengals head toward Super Bowl 56 coming from two very different places. Our look at their 2021 financials, future cap, free agents, draft capital, & extension candidates going forward.

 

2021 Payroll Comparisons

In terms of active salary cap allocated in 2021…
Bengals: $154M (7th)
Rams: $121M (22nd)

In terms of actual cash spent in 2021…

Bengals: $194M (23rd)
Rams: $189M (26th)

In terms of 2021 Free Agent spending
Bengals: $136M (6th)
Rams: $7.7M (31st)

 

How the Starters were Acquired

Based on 11 offensive starters, 11 defensive starters, a kicker, & a punter
Both teams have found success in upgrading through free agency, while the Rams have simply forfeited draft picks for proven experience via the trade.

Bengals
Draft: 15 | Free Agency: 7 | Trade: 1 | UDFA: 1

Rams
Draft: 11 | Free Agency: 7 | Trade: 4 | UDFA 2

 

2022 Salary Cap

The current average amount of cap space for a team heading into the offseason is $15M. There's a stark contrast between the two 2021 finalists in terms of their offseason financial health.

Bengals: $56.3M
Cincinnati currently sits 4th in the league in projected Top 51 cap space for 2022, but only 36 players are currently under contract (will eventually be 90). Luckily, the list of starters or notable reserves out of contract are extremely limited, meaning the Bengals will be able to use their cap & draft capital to upgrade and apply depth across this roster. Moving on from Trae Waynes frees up another $11M as well.

Rams: -$8M
LAR is going to be running right up against the line for the next few seasons as they build through experience and not necessarily their (lack of) drafts. 7 players carry a cap hit north of $15M for 2022 currently, most of which will either restructure salary, or sign a restructured extension in the coming months to get the Rams on the right side of the cap for March. To name a few: Ramsey (base salary restructure clears $11M), Floyd (base salary restructure clears $12M), Donald (roster bonus restructure clears $4M).

 

Notable Free Agents

Rams (Full List)
Von Miller (OLB, 32)
Sony Michel (RB, 26)
Odell Beckham, Jr. (WR, 29)
Brian Allen (C, 28)
Austin Corbett (G, 26)
After handing away a 2nd and 3rd round pick for a half season of Von Miller, will the Rams feel obligated to extend the 32 year old? Sony Michel showed promise behind this run-first offensive line, but likely prices himself out of a return to LA, while the discussion for OBJ becomes much more complicated with each passing, productive week. He’s a fit for Stafford and Co., but can they financially fit him into an arsenal with Kupp, Woods, & Jefferson all healthily under contract?

Bengals (Full List)
Jessie Bates III (S, 24)
B.J. Hill (DT, 26)
Quinton Spain (G, 30)
C.J. Uzomah (TE, 29)

Jessie Bates’ stock plateaued a bit entering the 2021 season, but he’s been one of the most visibly necessary players on the field. He’s a franchise tag candidate ($13M), with eyes on a $16M+ per year extension. B.J. Hill & Quinton Spain can probably be upgraded upon (though Hill had a strong year), while Uzomah has clear chemistry with Burrow, but he’s an overpay candidate on the open market that could impact his ability to return.

 

Notable Extension Candidates

C.J. Uzomah, TE, CIN
Uzomah’s career feels a little like that of Jonnu Smiths, whom the Patriots just wildly overpaid for ($12.5M per year) this past offseason. Now looking for contract #3, a 3 year, $24M extension seems to make sense.

Jessie Bates, S, CIN
Bates has been one of the most impactful players on the field through this Cincy postseason run, peaking at the perfect time contractually speaking. He’s a $13M franchise tag candidates, with Harrison Smith’s $16M per year deal as a foundationally start point on a multi-year extension.

Matthew Stafford, QB, LAR
The good news? Acquiring Matthew Stafford helped bring the Rams back to the Super Bowl. The bad news? With just 1 year, $23M left on his current contract, he’s due for another major payday, and currently projects to a 4 year, $166M extension.

Cooper Kupp, WR, LAR
Kupp has 2 year remaining on his current contract with the Rams, but carries cap hits of $18.6M & $18M respectively across that period. An extension not only helps lower the current hit, but will align him with Stafford’s new contract, and offers him a well-deserved raise all in one shot. Kupp projects to a 4 year, $95M extension currently.

Von Miller, LB, LAR
Valuing edge rushers over 30 years old has become a bit of a crapshoot, with J.J. Watt bagging $14M per year, and Melvin Ingram sitting on a near veteran minimum salary in 2021. Miller still has the production to garner a $10M+ contract, but taking less and structuring a team-friendly deal to remain in LAR seems like pretty good business for someone who’s already cashed $144M out of the league.

Odell Beckham, Jr., WR, LAR
Nobody’s going to hate this more than OBJ himself, but from a strictly numbers standpoint, his next contract projects to 2 years, $12M. There’s no question is abilities have been resuscitated in this Rams’ offense, but with significant capital allotted to Kupp & Woods already, sticking in LA almost certainly means less than desired dollars for Beckham Jr. If he hits the market, it’s very likely bad teams will be offering to double this kind of compensation.

 

Future Draft Picks

Bengals
2022: (Projected pick numbers) 31, 63, 95, 132, 140, 172, 209, 223, 249
2023: 1, 2, 3, 4, 5, 6, 7
2024: 1, 2, 3, 4, 5, 6, 7

Rams
2022: 101, 139, 173, 211, 212, 213, 235, 250
2023: 2, 3, 5, 6, 6, 7
2024: 1, 2, 3, 4, 5, 6


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