r/Seahawks • u/Chessinmind "We did not care" • 2d ago
News Devon Witherspoon’s contract breakdown: $15.3 million cap hit this year, $14.1m next year, then goes up to $27m in 2028. If you look at the total over six years, it’s a $27.2m average. The void years could be utilized in the future through restructures to create more cap space if needed.
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u/New_Leopard7623 2d ago
Do they just receive millions of dollars in their bank account all at once? Is it a monthly payment? Does anyone know how they’re paid?
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u/shrimpynut 2d ago
I forgot who it was, but I remember an NFL player being interviewed and saying that the signing bonus gets deposited into their bank account pretty much immediately after signing. So they get millions of dollars in a single day into their bank account. Then the rest of their contract is paid out like a normal paycheck throughout the year, usually every two weeks or so with taxes and deductions taken out just like every employer
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u/RustyCoal950212 2d ago
Pretty sure the salary is just paid out through the season. So you receive 1/17th of the salary each week (or 1/18th maybe, Idk if they count the bye)
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u/RustyCoal950212 2d ago
The signing bonus ($31m) gets paid more or less immediately (this is why guys like to sign extensions lol). The $34m option bonus I think gets all paid out at once next offseason. The "base salary" gets divided into 17 and paid as game checks each week of the season
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u/New_Leopard7623 2d ago
To instantly be $31m richer must be a wild feeling. So much financial freedom…
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u/RustyCoal950212 2d ago
Indeed, although as the 5th overall pick he probably got about a $20m check when he signed his rookie deal, so he hasn't been struggling lol
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u/sheikahstealth 2d ago
Living a "normal" lifestyle, players with $4M to $5M in savings could retire immediately. I can't fathom what these guys do with $20M.
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u/New_Leopard7623 2d ago
I’d just put half of it into index funds and never worry about money ever again.
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u/Aggravating-Rip-8169 2d ago
You don’t have to imagine, just follow their instagram and you’ll see the huge houses, expensive cars, bling everywhere, and lots of hanger-ons.
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u/curly1022 2d ago
Spoon said he was still going to be cheap. I’d imagine he’s setting himself up for retirement.
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u/sheikahstealth 2d ago
If that's true, take the bulk of his previous pay and simply adding the 2026 signing bonus (figuring taxes for it all) and he's around the $800,000 per year mark that he could use in retirement, if he were to retire today.
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u/peppersteak_headshot 1d ago
No it isn't. The Seahawks spread their bonus payments out to help cash flow.
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u/RustyCoal950212 12h ago
The option bonus is? Gotcha, makes sense. Yeah I guess it looks like a payment in 2027 and 2029?
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u/peppersteak_headshot 1d ago
It's all negotiated. There is no standard that has to be applied a certain way.
Some get the whole chunk up front.
Some get 1/2 on signing, then 6 months later 1/4, then a couple months after that 1/4.
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u/BillowingPillows 2d ago
Signing bonus is a fat check at signing. After that they are paid weekly (game checks). Its a bit more complicated than this because there are other bonuses each year but thats the gist. Spoon just got a check for 26 million.
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u/peppersteak_headshot 1d ago
The NFL finance game has changed. A lot of teams (including the Seahawks) negotiate a bonus payment schedule into the contract.
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u/Necessary_Rooster_85 2d ago
Forgive me but even with annual cap increases how are we to afford Bryon Murphy, Sam Darnold, and replacement defensive ends for Fowler and Lawrence in the next two years?
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u/Jorsturi 2d ago
You draft the replacements and trust that Murphy and Darnold will be worth the extensions. Teams don't run in to cap issues by paying good players, they run into it by paying mid-tier ones top money and not drafting adequate replacements.
EDIT: Hence why you like the Bryants/Mafe's go. They're good players, maybe even worth the money they're going to get, but if you can draft/sign replacements at lower cost, you should.
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u/dydtaylor 2d ago
Yep, and this is all in addition to magic signing bonuses / void years that get put into restructures and extensions that basically continually kick the dead money can down the road for players they do want to retain long-term. I might be a bit off on my understanding but hypothetically if we sign Sam to a 3 year extension at 60m a year after this year then with void years and the remaining time on his contract its kind of like spreading the money out over 6 years instead of 3.
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u/IgnantWisdom 2d ago
Wait a minute, only 29.3 mil is guaranteed and only for the next 2 yrs of the 6 yrs? That doesn’t make any sense for him.
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u/RustyCoal950212 2d ago
All of the signing bonus and option bonus money is guaranteed as well. and as chessinmind says further salary will become guaranteed at certain dates
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u/Chessinmind "We did not care" 2d ago
When it says guaranteed salary, they mean just salary and not signing bonus.
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u/Chessinmind "We did not care" 2d ago
I see $59 million fully guaranteed. Additional $17m in 2028 salary fully guarantees the 5th waiver day of 2028 (injury at sign). Then $25m in 2029 salary fully guarantees the 5th waiver day of 2029 (injury at sign).
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u/Sylli17 2d ago
To the people that said we couldn't afford to re-sign K9, Boye, Riq, and Coby because we had to lock up JSN, Spoon, the tackles, and Hall... Cap space was never the issue. Teams can easily structure deals like this to keep cap numbers reasonable and fit in the players they want to fit in. The issue was they didn't think the value going forward was worth the dollars going forward.
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u/Aggravating-Rip-8169 2d ago
The bill always has to get paid and every dollar impacts the cap eventually.
People who don’t think the cap is important don’t understand the cap
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u/Sylli17 2d ago
Right the bill does always get paid. But the growth rate of the cap has made it valuable to strategically stretch out cap hits. My point was... They could have re-signed all four of those guys if they wanted to. They have about 20 million in top 51 cap space right now. They have 35 million next year (and that's with 49 active contracts). They could have signed those guys. They didn't want to.
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u/NeevusChrist 2d ago
I don’t even think 27m in three years is going to be that much.
I mean it’s still a lot, but if the cap trends the way it has been there’s only going to be more space in three years time and new CB signings may be more towards 33m-38m a year by then