Yesterday when we looked at the preliminary numbers (3 years, $24 million) from DeSean Jackson’s contract we said that we would have to wait for the details before we could figure out in there was a winner and a loser in the negotiation.
We got the details and the deal appears to be a win-win.
Jackson gets $16 million fully guaranteed and he gets it in his bank account in the next two years. The length of the deal will let him have one more shot at free agency at the age of 30.
The Redskins get a fairly low first-year cap number, something important since they didn’t really plan on having the opportunity to sign Jackson and didn’t set aside cap space to make the move. And if things are not going well or if other circumstances dictate they can get out of the deal after two years with minimal damage in the form of dead cap.
It’s actually a four-year contract that automatically voids to a three-year deal immediately after the 2016 Super Bowl. That voidable year allows the Redskins to spread Jackson’s $5 million signing bonus out over four years instead of three. His first-year salary of $1 million, roster bonus of $1.5 million and his $500,000 workout bonus are all fully guaranteed. His cap hit in 2014 is $4.25 million.
The cap number jumps up to $9.25 million in both 2015 and 2016. The compensation is identical in both seasons with salaries of $3.75 million, per-game roster bonuses of $3.75 million, and workout bonuses of $500,000. The difference is that his 2015 compensation is guaranteed while his 2016 pay is not.
The roster bonuses, by the way, are paid as long as Jackson is not on the suspended list or the non-football injury list. He does not need to be on the 46-man game day active roster to collect $93,750 per game this year and $218,750 per game in 2015 and 2016.
Since the guaranteed money is all paid by the time the 2015 season ends the Redskins can move on after that if they choose. They would just have to take a dead cap charge of $2.5 million for the rest of the proration of Jackson’s signing bonus.
But it would be painful to release Jackson just one year into the deal. The team would have to eat $11.25 million in dead cap money.
If Jackson completes the three years of the contact the Redskin will still have a $1.25 million dead cap charge in 2017 (the voided year on the contract).