Trying to understand Smith’s contract and contracts in general
We don’t have the exact details of the deal but what we know about the newest Redskin contract is: 94 million which divided by 4 gives a 23 millions per year average (plus 2018 at 17 million) ... we are assuming Kirk will make around 30 million a year,or 28 if he decides go “team-friendly”. People are very upset about this saying we are paying 23 million a year for an aging QB and that is not worthy since we are “only” saving 7 millions a year... and that won’t make any difference for “team building” porpouses.
But what I have learnt about NFL contract is that the number that really matters is the “guarantees” which in this case is reported to be 71 millions which divided by 4 gives us 17.7 million a year... once again, if we assume Kirk’s contract to be at 30 million a year, means we are saving up to 12 million. In top of that if the Redskins give him, I don’t know, a signing bonus of 30 million, that will bring the yearly cap number even lower giving more cash available.
I read a lot: “by the time the contract is expired, Smith will be 38!”... but as far as I understand this contracts are made in a way the player gets money up front but the team can cut the player after two years without a big hit to their cap... the best example of this is Josh Norman’s contract, he got a big chunk of his money over the first two years (around 37 millions) and we can cut him now, adding around 8 millions to our cap (base salary + prorated signing bonus + roster bonus - dead cap)
So, in conclusion, for me the contract makes sense. We solved the problem for at least 3 years with reasonable spending leaving room to keep bulding. Kirk’s contract will be north of 100 million in guarantees (I think so)...
maybe I’m missing something.. what do you guys think??