Jason Day wins the AT&T Byron Nelson. This is Day's first PGA Tour win of the season and first since 2018. He earns $1.71 million for the 2023 season. Day's on-course earnings are now at $5.65 million and his career total is $55.8 million.

AT&T Byron Nelson Top 5

1. Jason Day: $1,710,000

T2. Austin Eckroat, Si Woo Kim: $845,500

4. C.T. Pan: $465,500

T5. Scottie Scheffler, Zecheng Dou, Tyrrell Hatton: $351,500

Full Results

2023 Earnings Leaders Update

1. Jon Rahm: $14,462,841

2. Scottie Scheffler: $12,859,995

3. Max Homa: $8,301,012

4. Tyrrell Hatton: $6,407,094

5. Xander Schauffele: $6,362,198

Full List

Dustin Johnson wins the sixth LIV Golf event of 2023 at Tulsa via playoff against Branden Grace and Cameron Smith earning himself $4 million, plus $375,000 for the team bonus. Johnson's career LIV Golf earnings (individual + team) is now at $16.72 million.

Tulsa Top 5

1. Dustin Johnson: $4,000,000

T2. Branden Grace, Cameron Smith: $1,875,000

4. Harlod Varner III: $1,000,000

T5. Bryson DeChambeau, Eugenio Chacarra, Brooks Koepka: $703,333

Full Results

Team Earnings

1. Stinger GC (Branden Grace, Louis Oosthuizen, Charl Schwartzel, Dean Burmester): $3,000,000 ($750,00 each)

2. 4 Aces GC (Dustin Johnson, Pat Perez, Patrick Reed, Peter Uihlein): $1,500,000 ($375,000 each)

3. RangeGoats GC (Talor Gooch, Thomas Pieters, Bubba Watson, Harold Varner III): $500,000 ($125,000 each)

The NBA announced the All-NBA teams for the 2022-23 season on Wednesday. As always, it’s an honor for any player to be named All-NBA. For a handful of players, the honor (or lack thereof for one) had some major contractual implications too.

(Please Note: All contracts referenced here are estimates/projections. The NBA salary cap is in a bit of an unpredictable place with both a new CBA in place and a new media rights deal coming soon.)

Jaylen Brown

Jaylen Brown being named to his first All-NBA team (he was on the Second Team) earned him a nice immediate bonus, while being a boon to his long-term earning potential as well.

For this season, Brown getting named All-NBA maxed out his somewhat complex bonus set. Brown’s incentives are broken up into two parts. The first part is related to his games played and team success. Brown had already achieved the maximum of just over $1 million for that section.

The second part of Brown’s incentives are an either/or scenario of postseason awards and team success. None of them can stack upon one another, but he had different paths to earning the full bonus amount. Brown had already achieved a portion of this second incentive by making the All-Star team, but he got 100% of this section by being named All-NBA. This earned Brown about $2.1 million in additional incentives.

Added together, Brown earned roughly $3.1 million in total bonuses for this season. That sees his salary number rise from $26.7 million to $29.8 million for this past year. In addition, Brown’s cap hit for the 2023-24 season will now be at $31.8 million, as his bonuses are now deemed likely. (A bonus is deemed “likely” or “unlikely” based on the simple formula of “Did it happen last year?” If the bonus was achieved, it’s likely. If not, it’s unlikely.)

While congratulations are in order for Jaylen Brown for the All-NBA nod and the extra $3.1 million earned, there are now bigger fish to fry.

As we covered previously, Brown had major stakes for his next contract by making All-NBA. We won’t rehash that entire article, but by being named All-NBA, Brown is now eligible for a Designated Veteran Extension, or the so-called Super Max. That contract projects to look like this:

• 2024-25: $50,050,000
• 2025-26: $54,054,000
• 2026-27: $58,058,000
• 2027-28: $62,062,000
• 2028-29: $66,066,000
• Total: five years, $290,290,000

Boston is now eligible to offer Brown a deal starting at 35% of the salary cap vs 30% of the cap, by virtue of the All-NBA honor. That deal would come with 8% raises, and would likely include some form of player option on the final season.

It’s important to note that this deal would start with the 2024-25 season, as Brown still has one more season under contract with the Celtics. Should Brown turn down the Designated Veteran Extension (or in the unlikely scenario Boston doesn’t offer it), he can sign a four-year deal with another team in the summer of 2024. That contract projects to look like this:

• 2024-25: $42,900,000
• 2025-26: $45,045,000
• 2026-27: $47,190,000
• 2027-28: $49,335,000
• Total: four years, $184,470,000

That’s a pretty significant difference, even if you compare four-year to four-year values. That’s about $40 million over the same four-year period.

One last note (and this will come up with another player!): Brown can only get the Super Max from the Celtics. You can only offer a Super Max extension to a player you drafted or a player that you acquired while they were on their rookie deal. In addition, if Brown signs a Designated Veteran Extension, he’d have a one-year trade restriction from the date of signing.

Jayson Tatum

We’re going to keep this one simple, as Jayson Tatum still has at least two years left on the rookie scale extension he signed with the Celtics a couple of years ago. That means he’s not extension-eligible until the summer of 2024 and that extension would then start with the 2025-26 season.

Because he’s now made All-NBA the last two years, Tatum is already eligible to sign a Designated Veteran Extension. One of the criteria is to make All-NBA for two of the previous three seasons (or the one season prior), meaning Tatum has met that marker, no matter what happens in the 2023-24 season.

Tatum’s projected Super Max extension looks like this:

• 2025-26: $53,198,250
• 2026-27: $57,454,110
• 2027-28: $61,709,970
• 2028-29: $65,965,830
• 2029-30: $70,221,690
• Total: five years, $308,549,850

That’s 35% of the cap with 8% raises. Like with Brown, the final season would likely be a player option. In addition, to sign this full five-year extension, Tatum would need to first decline his current player option for the 2025-26 season.

Ja Morant

This past summer, Ja Morant signed a Designated Rookie Extension, or so-called Rose Rule extension. (It’s a bit more complicated than that, but the terms have become used interchangeably.) That contract could have seen Morant jump from 25% of the cap to the 30% of the cap tier, had he been named All-NBA.

As Morant didn’t make any of the three All-NBA teams, he’ll now stay at the 25% of the cap tier. That contract projects to look like this:

• 2023-24: $33,500,000
• 2024-25: $36,180,000
• 2025-26: $38,860,000
• 2026-27: $41,540,000
• 2027-28: $44,220,000
• Total: five years, $194,300,000

Had Morant made All-NBA, his deal would have jumped to $233.2 million over five years.

For what’s it worth, Darius Garland and Zion Williamson both had similar conditions in their deals. However, neither had a realistic chance of being named All-NBA for this past season. Interestingly enough, none of Morant, Garland or Williamson have a player option on the final seasons of their max extensions with Memphis, Cleveland and New Orleans, respectively.

Domantas Sabonis

Like Jaylen Brown, being named All-NBA was quite profitable for Domantas Sabonis. He had already earned $1.3 million by being an All-Star this past season, and he added an additional $1.3 million by making All-NBA.

For this current season, that sees Sabonis’ salary jump from his base of $18.5 million to $21.1 million. For next season, as both of his bonuses are now considered likely, Sabonis’ cap hit will go from $19.4 million to $22 million.

Unfortunately, unlike Brown and Jayson Tatum, Sabonis is not eligible to sign a Designated Veteran Extension. Because the Sacramento Kings acquired Sabonis while he was on his second (current) contract, they can’t offer him a Super Max extension. Those are reserved for players drafted by or acquired by the team while still on their rookie contracts.

ALL-NBA FIRST TEAM

Giannis Antetokounmpo, Milwaukee Bucks

Giannis Antetokounmpo was in the second year of a five year $228.2 million Designated Player extension that he signed with Milwaukee in Dec 2020. His 2022-23 base salary was $42,492,492, which ranked 8th in the NBA.

Remaining Base Salaries: 

• 2023-24: $45,640,084
• 2024-25: $48,787,676
• 2025-26: $51,935,268 (Player Option)

Luka Doncic, Dallas Mavericks

Luka Doncic was in the first year of this five year $215.2 million Designated Rookie extension that he signed with Dallas in Aug 2021. His 2022-23 base salary was $37,096,500, which ranked 16th in the NBA.

Remaining Base Salaries: 

• 2023-24: $40,064,220
• 2024-25: $43,031,940
• 2025-26: $45,999,660
• 2026-27: $48,967,380 (Player Option)
• Contract contains 15% Trade Bonus

Joel Embiid, Philadelphia 76ers

Joel Embiid was in the last year of a five year $147.7 million Designated Rookie extension that he signed with Philadelphia in Oct 2017. His 2022-23 base salary was $33,616,770, which ranked 2nd in the NBA. Embiid signed a four year $210 million Designated Player extension Aug 2021, which will begin with the 2023-24 season.

Remaining Base Salaries (estimates based on $134 million cap): 

• 2023-24: $46,900,000
• 2024-25: $50,652,000
• 2025-26: $54,404,000
• 2026-27: $58,156,000 (Player Option)

Shai Gilgeous-Alexander, Oklahoma City Thunder

Shai Gilgeous-Alexander was in the first year of a five year $179.3 million Designated Rookie extension that he signed with Oklahoma City in Aug 2021. His 2022-23 base salary was $30,913,750, which ranked 33rd in the NBA. 

Remaining Base Salaries

• 2023-24: $33,386,850
• 2024-25: $35,859,950
• 2025-26: $38,333,050
• 2026-27: $40,806,150
• Contract contains 15% Trade Bonus

Jayson Tatum, Boston Celtics

Jayson Tatum was in the second year of a five year $163 million Designated Rookie extension that he signed with Boston in Nov 2020. His 2022-23 base salary was $30,351,780, which ranked 35th in the NBA. Tatum is now eligible for the Super-Max extension (estimated 5 year, $318M), due to back-to-back All-NBA awards, which he can sign beginning with the 2024-25 offseason but the salaries would begin in the 2025-26 season.

Remaining Base Salaries: 

• 2023-24: $32,600,060
• 2024-25: $34,848,340
• 2025-26: $37,096,620 (Player Option)

ALL-NBA SECOND TEAM

Jaylen Brown, Boston Celtics

Jaylen Brown was in the third year of a four year $106.3 million Rookie Scale extension that he signed with Boston in Oct 2019. His 2022-23 base salary was $26,669,643, which ranked 44th in the NBA. Brown is now eligible for the Super-Max extension (estimated at 5 years, $294+ million) which he can sign this offseason but the salaries would begin in the 2024-25 season.

Remaining Base Salaries: 

• 2023-24: $28,508,929

Jimmy Butler, Miami Heat

Jimmy Butler was in the last year of a four year $140.79 million contract that he signed with Miami in Jul 2019. His 2022-23 base salary was $37,653,300 (a Player Option that was exercised), which ranked 11th in the NBA. Butler signed a 3 year $146.4 million contract extension with Miami in Nov 2021.

Remaining Base Salaries (estimates): 

• 2023-24: $45,183,960
• 2024-25: $48,798,677
• 2025-26: $52,413,394 (Player Option)

Stephen Curry, Golden State Warriors

Stephen Curry was in the last year of a five year $215.35 million maximum extension that he signed with Golden State in Jul 2017. His 2022-23 base salary was $48,070,014, which ranked 1st in the NBA. 

Remaining Base Salaries: 

• 2023-24: $51,915,615
• 2024-25: $55,761,216
• 2025-26: $59,606,817

Nikola Jokic, Denver Nuggets

Nikola Jokic was in the first year of a four year $147.7 million maximum contract that he signed with Denver in Jul 2018. His 2022-23 base salary was $32,478,838, which ranked 2nd in the NBA. Jokic signed a 5 year $272 million Designated Player extension in Jul 2022. 

Remaining Base Salaries (estimates based on $134 million cap): 

• 2023-24: $46,900,000
• 2024-25: $50,652,000
• 2025-26: $54,404,000
• 2026-27: $58,156,000
• 2027-28: $61,908,000 (Player Option)
• Contract contains 15% Trade Bonus

Donovan Mitchell, Cleveland Cavaliers

Donovan Mitchell was in the second year of a five year $163 million Designated Rookie extension that he signed with Utah in Nov 2020; he was traded to Cleveland on Sep 3, 2022. His 2022-23 base salary was $30,351,780, which ranked 35th in the NBA. 

Remaining Base Salaries: 

• 2023-24: $32,600,060
• 2024-25: $34,848,340
• 2025-26: $37,096,620 (Player Option)

ALL-NBA THIRD TEAM

De'Aaron Fox, Sacramento Kings

De’Aaron Fox was in the second year of a five year $163 million Designated Rookie extension that he signed with Sacramento in Nov 2020. His 2022-23 base salary was $30,351,780, which ranked 35th in the NBA. 

Remaining Base Salaries: 

• 2023-24: $32,600,060
• 2024-25: $34,848,340
• 2025-26: $37,096,620

LeBron James, Los Angeles Lakers

LeBron James was in the last year of a two year $85.66 million maximum extension that he signed with Los Angeles in Dec 2020. His 2022-23 base salary was $44,474,988, which ranked 2nd in the NBA. James signed a two year $97.13 million maximum veteran extension in Aug 2022.

Remaining Base Salaries (estimates based on $134 million cap): 

• 2023-24: $46,900,000
• 2024-25: $50,652,000 (Player Option)

Damian Lillard, Portland Trail Blazers

Damian Lillard was in the second year of a four year $176.27 million Designated Player extension that he signed with Portland in Jul 2019. His 2022-23 base salary was $42,492,492, which ranked 8th in the NBA. Lillard signed a two year $121.77 million maximum extension in Jul 2022 which begins with the 2025-26 season and contains a 2026-27 Player Option.

Remaining Base Salaries: 

• 2023-24: $45,640,084
• 2024-25: $48,787,676
• 2025-26: $58,545,211 (estimated)
• 2026-27: $63,228,828 (estimated, Player Option)

Julius Randle, New York Knicks

Julius Randle was in the first year of a four year $117.1 million veteran extension that he signed with New York in Aug 2021. His 2022-23 base salary was $23,760,000, which ranked 50th in the NBA. 

Remaining Base Salaries (estimates): 

• 2023-24: $25,660,800
• 2024-25: $27,561,600
• 2025-26: $29,462,400 (Player Option)
• Contract contains 15% Trade Bonus

Domantas Sabonis, Sacramento Kings

Domantas Sabonis was in the third year of a four year $74.9 million Rookie Scale extension that he signed with Indiana in Oct 2019; he was traded to Sacramento on Feb 8, 2022. His 2022-23 base salary was $18,500,000, which ranked 70th in the NBA. 

Remaining Base Salaries (estimates): 

• 2023-24: $19,400,000

ALL-DEFENSIVE FIRST TEAM

Alex Caruso, Chicago Bulls

Alex Caruso was in the second year of his four year contract that he signed with Chicago in Aug 2021. His 2022-23 base salary was $9,030,000, which ranked 145th in the NBA.

Remaining Base Salaries: 

• 2023-24: $9,460,000
• 2024-25: $9,890,000 ($3,000,000 guaranteed)

Jrue Holiday, Milwaukee Bucks

Jrue Holiday was in the second year of his four year $134 million contract extension that he signed with Milwaukee in Apr 2021. His 2022-23 base salary was $32,544,000, which ranked 29th in the NBA. With this award Holiday earns $129,600.

Remaining Base Salaries: 

• 2023-24: $34,954,667
• 2024-25: $37,365,333 (Player Option)

Jaren Jackson Jr., Memphis Grizzlies

Jaren Jackson Jr. was in the first year of his four year $104.72 million contract extension that he signed with Memphis in Oct 2021. His 2022-23 base salary was $28,946,605, which ranked 42nd in the NBA. 

Remaining Base Salaries: 

• 2023-24: $27,102,202
• 2024-25: $25,257,798
• 2025-26: $23,413,395

Brook Lopez, Milwaukee Bucks

Brook Lopez was in the last year of his four year $52 million contract that he signed with Milwaukee in July 2019. His 2022-23 base salary was $13,906,976, which ranked 100th in the NBA. 

Remaining Base Salaries: 

• N/A, Lopez will be an Unrestricted Free Agent

Evan Mobley, Cleveland Cavaliers

Evan Mobley was in the second year of his four year $36.66 million Rookie Scale contract that he signed with Cleveland  in Aug 2021. His 2022-23 base salary was $8,478,720, which ranked 157th in the NBA. 

Remaining Base Salaries: 

• 2023-24: $8,882,640
• 2024-25: $11,227,657 (Club Option)

ALL-DEFENSIVE SECOND TEAM

Bam Adebayo, Miami Heat

Bam Adebayo was in the second year of his five year $163 million Designated Rookie Scale extension that he signed with Miami in Nov 2020. His 2022-23 base salary was $30,351,780, which ranked 37th in the NBA.

Remaining Base Salaries: 

• 2023-24: $32,600,060
• 2024-25: $34,848,340
• 2025-26: $37,096,620

O.G. Anunoby, Toronto Raptors

O.G. Anunoby was in the second year of his four year $72 million contract extension that he signed with Toronto in Dec 2020. His 2022-23 base salary was $17,357,143, which ranked 77th in the NBA.

Remaining Base Salaries: 

• 2023-24: $18,642,857
• 2024-25: $19,928,571 (Player Option)

Dillon Brooks, Memphis Grizzlies

Dillon Books was in the last year of his three year $35 million contract extension that he signed with Memphis in Feb 2020. His 2022-23 base salary was $11,400,000, which ranked 117th in the NBA.

Remaining Base Salaries: 

• N/A, Brooks will be an Unrestricted Free Agent

Draymond Green, Golden State Warriors

Draymond Green was in the third year of his four year $99.67 million contract extension that he signed with Golden State in Aug 2019. His 2022-23 base salary was $25,806,469, which ranked 49th in the NBA.

Remaining Base Salaries: 

• 2023-24: $27,586,225 (Player Option)

Derrick White, Boston Celtics

Derrick White was in the second year of his four year $70 million Rookie Scale contract extension that he signed with San Antonio in Dec 2020. White was acquired by Boston at the 2021-22 NBA Trade deadline on Feb 10, 2022. His 2022-23 base salary was $16,392,857, which ranked 87th in the NBA. With this award White earns $250,000.

Remaining Base Salaries: 

• 2023-24: $17,607,143
• 2024-25: $18,821,429

Wyndham Clark wins the Wells Fargo Championship and his first win of the 2023 season by four strokes over Xander Schauffele. He earns $3.6 million for the 2023 season. Clark's on-course earnings are now just north of $6 million and his career total is over $11 million.

Wells Fargo Championship Tournament Open Top 5

1. Wyndham Clark: $3,600,000

2. Xander Schauffele: $2,180,000

T3. Harry English, Tyrrell Hatton: $1,180,000

T5. Adam Scott, Tommy Fleetwood: $772,500

Full Results

2023 Earnings Leaders Update

1. Jon Rahm: $14,462,841

2. Scottie Scheffler: $12,508,495

3. Max Homa: $8,301,012

4. Xander Schauffele: $6,362,198

5. Wyndham Clark: $6,082,979

Full List

The Arizona Cardinals walked away from the 2023 NFL draft a winner in many books, in large part due to a savvy move back to #6 to pick up an additional 2024 first round pick. With trade rumors still surrounding WR Deandre Hopkins & S Budda Baker, Arizona may not be done acquiring future draft picks, which has led some (many?) to speculate about the long-term future of QB Kyler Murray. We’ll lean into that a little bit here.

Kyler Murray’s Remaining Contract

Murray will be entering Year 2 of this extension in 2023, with 6 years, $235.6M still to go through the 2028 season. He’ll earn $38M for the upcoming campaign, including $2M base salary, & $36M option bonus.

A 2024 Kyler Murray Trade

There are a lot of moving parts on this deal, but on its surface, this is what it would look like to send Kyler Murray out via trade after the 2023 season.

Pre June 1, 2024

DEAD CAP
Cardinals take on $46.221M of dead cap, all in 2024

NEW TEAM ACQUIRES

• $35M of 2024 compensation will already be fully guaranteed
• $30M of 2025 compensation will become fully guaranteed in March of 2024
• $40M of 2026 compensation becomes fully guaranteed in March of 2025
• $19.5M of 2027 salary becomes fully guaranteed in March of 2026.

If we only focus on these early guarantees, a new team would be acquiring Kyler Murray on a 3 year, $114M contract + $19.5M of guaranteed salary in 2027 for practical purposes. Or in other words, if the new team wants to move off of Murray after 2026, they'll owe him a $19.5M cash payment to do so (not unlike what the Colts just did with Matt Ryan).

The only difference with a Post 6/1 trade is that the Cardinals would see their $46.221M of dead cap split into $13M for 2024, & $33.2M for 2025. This wouldn’t be a likely scenario.

Is this Plausible?

Sure. We’ve seen teams take on $40M+ dead cap hits in 2 straight seasons now - so why not make it 3. Arizona will actually be saving $5.6M of cap space with an early trade, as Murray’s cap hit for 2024 currently stands at $51.8M.

The obvious question here is will there actually be a taker? Off the top, these teams could at least be considering a change at the QB positions next March:

• Atlanta: It’s a big year for Ridder to show he can hang at this level.
• Chicago: It’s a big year for Fields to show he can take an improved team up a rung.
• Detroit: If Jared Goff isn’t extended, all options are on the table
• Los Angeles Rams: Stafford is fully guaranteed through 2025 and could be in this trade
• Las Vegas: Garoppolo’s deal is easily a 1-and-done if needed
• Miami: Only if Tua’s injury history continues
• Minnesota: Cousins is on an expiring and the next QB is not yet rostered.
• Pittsburgh: It’s a big year for Pickett to show he can hang at this level.
• San Francisco: Plenty of options but none long-term.
• Seattle: Geno Smith’s deal is easily 1-and-done if needed
• Tampa Bay: It’s more likely they subtract than add, but it’s an option
• Washington: Maybe the leader in the clubhouse.

Is this Likely?

No. A move of this size at a position of this importance should never be considered likely, but if the wheels fall off in 2023 and Arizona truly is in position to select one of the Top 2 QBs out of the 2024 draft, all bets are back on the table.

If it happens, Arizona will have paid Murray $69M across 2022 & 2023. That could have been $35M had he been forced to play out his rookie contract in its entirety (4th year + 5th year option). Will the Cardinals be able to maneuver a trade for a $133M player that has had so many public deterrents? Can they sell the idea that they would have been happy to have Kyler as their QB1 for the long run, but passing up a chance to draft and play one of these 2024 prospects was too unique of an opportunity to miss out on? Or will this be Baker Mayfield and the Cleveland Browns version 2.0?

We finally have the inside details regarding Lamar Jackson’s 5 year, $260M contract with the Baltimore Ravens, and they’re as potent as expected.

Total Contract Value

At $260M (the franchise tag was never signed so it wasn't factored into this new contract in any way), Lamar Jackson's new contract becomes the 2nd largest new money deal in NFL history, behind only Patrick Mahomes' $450M. It surpasses Josh Allen's $258M contract in Buffalo (across 6 new years), and Jalen Hurts' brand new $255M deal in Philly.

Average Salary

At a new money average of $52M per year, Lamar’s contract makes him the highest average paid player in NFL history at the time of signing. He surpasses Jalen Hurts ($51M) who held the belt for 2 ½ weeks, and Aaron Rodgers ($50.2M), who started this whole $50M per year game last March - and could be in a position to retake the lead with his revised contract in New York.

Signing Bonus

An historic $72.5M. Lamar didn’t just top this mountain, he built a new mountain on top of the previous one and planted his flag there. The previous top signing bonuses in NFL history were paid out to Dak Prescott ($66M, 2021), Russell Wilson ($65M, 2019), & Matthew Stafford ($60M, 2022).

Keeping with the Ravens, Lamar’s $72.5M bonus is $32.5M more than the previous high (Joe Flacco, $40M).

Cash Flow

Extremely Aggressive. Lamar bags $80M in 2023, $5M more than any player in history (Prescott $75M), and $47.6M more than he was set to earn on the franchise tag. In fact, it’s $8.72M more than he would have earned with back-to-back franchise tags.

In terms of 2-year cash flow, again, Lamar is way ahead here. The new deal pays out $112.5M through 2024. That’s $17.5M more than 2nd place Dak Prescott ($95M), $23.5M more than 3rd place Matthew Stafford ($89M).

In terms of 3-year cash flow the gap widens even more. Lamar is due $156M through 2025, which is $6M more than the current Aaron Rodgers contract (soon to be ripped up), but a whopping $19M more than the Deshaun Watson contract ($137M). Furthermore, Lamar will see all $156M become fully guaranteed by next March.

Guarantee Structure

Lamar scores $135M fully guaranteed at signing out of the gate, #2 all-time, $11M more than Russell Wilson's $124M in Denver, $25M more than Jalen Hurts' recent upfront guarantee, and over $31M more than Kyler Murray's $103.3M last summer. The $135M is comprised of his massive $72.5M signing bonus, a $7.5M salary for 2023, a $14.25M salary for 2024, a $750,000 workout bonus, a $17.5M option bonus for 2024, & a $22.5M option bonus for 2025.

On the 5th league day of 2024 (next March) another $20.25M becomes fully guaranteed (his entire 2025 base salary). 

In early March 2025 (5th league day), $29M of his 2026 salary becomes fully guaranteed, raising the practical guarantee on this deal to $185M. This $185M figure ranks 2nd all-time to Deshaun Watson’s $230M, but is $5.7M more than Jalen Hurts’ recent $179.3M number.

Of note: All $185M of practical guarantee is guaranteed for injury at the time of signing. This is no small bullet point for someone who plays the game the way Lamar Jackson does.

The Salary Cap Flow

Despite a heck of a lot more cash in hand, Lamar Jackson’s salary cap figure for 2023 dropped from $32.4M, to $22M, a savings of $10.4M.

Assuming void years are being used for the triple bonus structure (2023 signing bonus, 2024 option bonus, 2025 option bonus), the 2024 salary cap figure stays relatively tidy at an even $33M. Even the jump up to $43.5M in 2025 shouldn’t be too daunting if we’re assuming the league cap is near $260M at that point in time.

But things get wild in 2026 & 2027, with initial cap hits of $74.5M for each season. February of 2026 will be a very clear line of demarcation for this relationship.

A) It’ll be a great time to start talking about contract #3 as a way to reduce the upcoming cap hits (similar to what Dallas and Dak Prescott are going through)

B) It’ll be a great time to allow Jackson to start feeling out potential trade partners who are willing to rip up the deal and start over, or restructure the $102M of future base salary.

C) It’ll be an unclear long-term future, Baltimore will process a salary conversion on his $51.25M base salary to lower the $74.5M cap hit, and the discussion about moving on after 2026 will become very loud.

The Fluid Dead Cap Breakdown

If you’re looking at the contract right now, you see a doable out after 2025 where the Ravens take on a $57.5M dead cap hit, but free up $17M of salary cap in the process. While that is true right now - that won’t be true come March 2025, when $29M of his 2026 salary becomes fully guaranteed. This raises his 2026 dead cap to $86.5M, making it extremely unlikely that the Ravens could outright release him at that point in time. The $74.5M cap figures in 2026 & 2027 are pivotal junctures in this deal, despite the lack of full guarantee built into them. If all is right in the world, Lamar probably gets a new contract prior to the 2026 season, making life easier for both sides. But if there's discontent, dealing with $86.5M of dead cap and back to back $74.5M actual cap hits presents quite the problem for the Ravens.

If the plan is to keep him rostered through 2026, they'll almost certainly need to process a salary conversion on portion of Lamar's $51.25M base salary, which means higher actual and dead cap hits for 2027 & beyond.

Add-Ons

Lamar negotiated both a Full No-Trade Clause & a Full No-Tag Clause into his big extension, meaning he owns the conversation of where he plays next, and he’ll have the ability to walk away after 2027 with no restrictions (and $260M in his pocket).

Concluding Thoughts

This was one of the more anticipated breakdowns in my career covering these contracts - all things considered. It ended up looking, smelling, and feeling like any other top of the market contract, including most of the standard structure practices that the Ravens utilize with all of their multi-year deals.

The cash-flow is ridiculously good. Why? Because Lamar Jackson wasn’t going to go back down after coming this far. The team-friendly cash flow contracts in this league almost always come with a dirt cheap 4th year rookie salary & 5th year option salary still left to be earned. Jalen Hurts turned a $4.3M previous 2023 salary into a $24.3M payout this season, a 5X raise.

The best part about this contract is that it doesn’t go longer than it needed to. By keeping this a true 5 year contract: A) the cash flow is truncated and therefore aggressive B) The backend of this becomes a cap mess that hopefully means another blockbuster deal (Cousins, Prescott, Stafford), C) Even if he plays out this entire deal, he’ll be just under 31 years old.

Until then though, Baltimore has another 3-year window from a salary cap perspective to try to re-engage as legitimate AFC contenders. 

The 5th-Year option deadline has now come and gone, giving us the most declined salaries that the league has ever seen. This can be attributed to a few things: A few unfortunate situations, a few unfortunate injuries, and a CBA change that fully guarantees the salary the instant that the option is exercised.

Exercised Options: 12
Declined Options: 15
Bypassed with Extension: 1
Not Available: 4

Related: Track all 5th-year option decisions

EXERCISED OPTIONS

#1 Joe Burrow (QB, CIN)

2024 Salary: $29,504,000
Burrow’s option exercise was a mere formality as he and the Bengals continue to inch closer to his offseason mega-extension. But the $29.504M will now be factored into his next deal, totaling $35M of salary from this and next season that will be added to his new money contract. With recent paydays for Jalen Hurts & Lamar Jackson, Burrow is now a $53M player in our system.

#4 Andrew Thomas (OT, NYG)

2024 Salary: $14,175,000
Thomas has become one of the best offensive linemen in the game, and it stands to reason that the Giants will lock him up long term before the summer is out. He’s a near $22M per year player in our system to date. With the option exercised, he’s now guaranteed $19.1M over the next two seasons.

#5 Tua Tagovailoa (QB, MIA)

2024 Salary: $23,171,000
Despite an unfortunate run of recent head injuries, the Dolphins are standing by their QB, showing enough loyalty to fully guarantee $27.8M across this and next season. If he can stay healthy, there’s no question he should be inline for a near top of the market extension ($45M+ per year).

#6 Justin Herbert (QB, LAC)

2024 Salary: $29,504,000
Like Burrow, the Chargers are just buying themselves more time here as they work through negotiations on something much much bigger. In the interim, Herbert is now guaranteed $33.7M across this and next season, and he carries a $50M valuation into May.

#7 Derrick Brown (DT, CAR)

2024 Salary: $11,665,000
The first and one of only two defensive players to have his 5th-year option exercised this offseason, Brown doesn’t have the production to be considered for the deals that Jeffery Simmons or even Daron Payne scored this spring, but Jonathan Allen’s $18M per year could be about right.

#10 Jedrick Wills (OT, CLE)

2024 Salary: $14,175,000
Despite a bit of a step back in play, Wills gets the vote of confidence through the 2024 season, now guaranteed $17.4M across this and next year. D.J. Humphries contractual path could be one to watch here for Wills going forward.

#13 Tristan Wirfs (OT, TB)

2024 Salary: $18,244,000
After 3 seasons at right tackle, Wirfs is expected to move over to the left side for the 2023 campaign. He’s now guaranteed $21M over the next two seasons, carrying a near $25M per year valuation in our system.

#15 Jerry Jeudy (WR, DEN)

2024 Salary: $12,987,000
Despite trade rumors, the Broncos locked in Jeudy through the 2024 season at what is now $15.5M fully guaranteed. There’s no question that Jeudy hasn’t risen to the level that many thought he could have just yet, but with lots of new in Denver this season, there’s now time to improve upon that.

#16 A.J. Terrell (CB, ATL)

2024: $12,344,000
After an elite 2021 campaign, Terrell fell back down to earth a bit in 2022, but not nearly enough to stop the Falcons from locking him into $14.9M fully guaranteed across the next two seasons. He carries a $20M valuation in our system to date.

#17 CeeDee Lamb (WR, DAL)

2024 Salary: $17,991,000
After a slow start to his career, Lamb has made this decision a complete no-brainer for Dallas of late. He’s now fully guaranteed $20.5M over the next two seasons, but should be staring down a long-term extension at or around $25M per year in the coming weeks.

#22 Justin Jefferson (WR, MIN)

2024 Salary: $19,743,000
Jefferson’s answered every bell, and it’s a little strange that we’re hearing zero discussion about a long-term extension in the works, but that’s a when not an if, and it will likely reach historic heights. For now, the #22 overall pick is guaranteed $22.1M across this and next season, with a near $27M valuation under his belt.

#25 Brandon Aiyuk (WR, SF)

2024 Salary: $14,124,000
For the most part, Aiyuk’s first three seasons have been consistently above average, capping off 2022 with his most productive season yet. His option exercise means $16.4M fully guaranteed across this and next season, and the 25 year old holds an $18M valuation for a long term deal in our system.

DECLINED OPTIONS

#2 Chase Young (DE, WAS)

Declined Salary: $17,452,000
Young becomes the first #2 overall pick to have his 5th-year option declined since the Bears said no to QB Mitchell Trubisky in 2020. He’ll play out a fully guaranteed $5.3M salary, with either free agency, or a projected $21M franchise tag in his future.

#8 Isaiah Simmons (LB, ARI)

Declined Salary: $12,722,000
Simmons was drafted to be a versatile defender, and for the most part - he’s been just that. Productivity wise, things have been fairly average, and the Cardinals are in a bit of a valley right now in terms of their team building (especially with new regimes in the front office and on the sideline). It was just better business to say no here right now. A projected $23M franchise tag already seems unlikely as well.

#9 C.J. Henderson (CB, CAR)

Declined Salary: $11,514,000
The Jaguars traded Henderson to the Panthers early in the 2021 season, and he’s been a solid but fairly average player ever since. He projects to fill in a depth role for Carolina on a fully guaranteed $3.4M salary this upcoming season, but free agency is likely thereafter.

#11 Mekhi Becton (OT, NYJ)

Declined Salary: $13,565,000
This is simply a matter of un-availability. Becton has 1 game under his belt in the past two seasons thanks to a surgically repaired knee. He’ll be ready for OTAs this offseason, and still projects as the Week 1 starting Right Tackle, so there’s time for him to resurrect his value and make next March a little more complicated for the Jets. An offensive lineman franchise tag projects to around $21M currently.

#14 Javon Kinlaw (DT, SF)

Declined Salary: $10,455,000
The writing was on the wall with this one when San Fran shocked us all with a massive free agency deal for Javon Hargrave. Factor in 10 games played across the past two seasons and an additional $10.4M guarantee was out of the question. He’ll play out a fully guaranteed $2.7M salary in 2023, with free agency likely thereafter.

#18 Austin Jackson (OT, MIA)

Declined Salary: $14,175,000
Jackson still projects to be Miami’s Week 1 starting right tackle, so it’s not exactly a broken relationship here. But with 3 games played in 2022, the Dolphins are protecting themselves here from overpaying for a player they have aspirations to replace anyway.

#20 K’Lavon Chaisson (OLB, JAX)

Declined Salary: $12,141,000
The production just hasn’t been there, and with only 9 games played in 2022, this wasn’t a difficult option for the Jags. Oh, and his replacement was the #1 overall pick in 2021.

#21 Jalen Reagor (WR, MIN)

Declined Salary: $12,987,000
Reagor was traded to Minnesota before the start of the 2022 regular season. He posted 8 catches for 104 yards in 17 games. He’ll earn $2.4M in 2023, with free agency available thereafter.

#23 Kenneth Murray (LB, LAC)

Declined Salary: $11,727,000
Murray’s playing time was greatly reduced in 2022 (about 20% less than his rookie season), though he still projects to start for the Chargers in 2023. LA will see out his $2.3M salary and play out the options from there.

#24 Cesar Ruiz (G/C, NO)

Declined Salary: $14,175,000
The #24 overall pick never really found his footing through three seasons, despite playing almost every offensive snap over the course of the past two years. He projects to be the Week 1 starting right Guard, so there’s time to build up value as free agency nears.

#27 Jordyn Brooks (LB, SEA)

Declined Salary: $12,722,000
Brooks is the type of player that fills up a stat sheet, passes most of the eye tests, then gets crushed by advanced analytics on a Monday morning. With that said, had he not suffered an ACL injury late in 2022, there’s a very good chance this decline would have been an exercise. Seattle will hedge its bets here, knowing they may need to slap a projected $23M tag on Brooks to keep him off the open market next March.

#28 Patrick Queen (LB, BAL)

Declined Salary: $12,722,000
I guess when you acquire a counterpart ILB and then pay him the largest contract in position history, your chance of getting a guaranteed x10 raise in 2024 is greatly reduced. Queen has already been rumored in trade talks, and a 1 year, $2.2M contract seems like pretty good value for the receiving team here.

#30 Noah Igbinoghene (CB, MIA)

Declined Salary: $13,202,000
The #30 overall pick has 1 career interception in 32 games played (only 16 across the past two seasons). He enters the 2023 offseason as a projected 3rd stringer for the Dolphins, who may just buy out his $2.1M salary to move on this summer.

#32 Clyde Edwards-Helaire (RB, KC)

Declined Salary: $5,461,000
You can’t say the Chiefs didn’t try here. CEH was given opportunities all over the field to find a rhythm and pattern in their offense, and it just wasn’t a fit. He’s now slipped to 3rd on the depth chart behind Isiah Pachecho and Jerick McKinnon, so a 1 year, $2M play out with free agency looming in March seems the obvious path here. Not ruling out a trade here either.

BYPASSED WITH EXTENSION

#26 Jordan Love (QB, GB)

Bypassed Salary: $20,272,000
With Aaron Rodgers gone, the decision to exercise or decline Love’s $20M 2024 salary was a hot topic of conversation for weeks. Green Bay chose neither. Love gets a restructured extension that guarantees him $13.5M (most likely all in 2023), offering he and Green Bay a more financially sensible path to see if there’s a long-term fit here through the 2024 season. Based on initial reports, it appears as though Love’s compensation across 2023-2024 can max out at $25M.

UNAVAILABLE

#3 Jeff Okudah (CB, ATL)

Bypassed Salary: $11,514,000
Okudah wasn’t going to see his option exercised no matter how this offseason played out, but that became a non-possibility once he agreed to a restructured contract per his trade to Atlanta. The Lions retained a portion of his 4th year salary, nullifying his ability to remain eligible for a 5th year option. The Falcons now get a 1 year, $3.6M look at him in their revamped defense.

#12 Henry Ruggs (WR)

Waived by the Raiders in November of 2021.

#19 Damon Arnette (CB)

Waived by the Raiders in November of 2021.

#29 Isaiah Wilson (OT)

Waived by the Titans in March of 2021.

#31 Jeff Gladney (CB)

Waived by the Vikings in August of 2021

Joel Embiid received the NBA 2022-23 Most Valuable Player award. 

Embiid was in the last year of his Rookie Scale contract during the 2022-23 season and made $33.6 million, 26th in the NBA, and was the 6th highest paid center. Embiid now enters his Designated Veteran Extension estimated at 4 years $210 million for the 2023-24 season which is based on a $134 million cap.

Remaining Contract:

• 2023-24: $46,900,000
• 2024-25: $50,652,000
• 2025-26: $54,404,000
• 2026-27: $58,156,000 (Player Option)

Related:

• 2022-23 Philadelphia 76ers Cap
• 2022-23 Centers Average Salaries
• 2022-23 Centers Cap Hits