The numbers are in, and Tim Jernigan’s pay cut was ... massive.
Jernigan re-signed with the Eagles on Friday about six weeks after the Eagles declined the option on his contract, making him an unrestricted free agent.
Jernigan’s previous contract? Four years, $48 million.
The new contract? One year, $1.25 million with bonuses that can bring the deal up to $2 million.
Only $1 million of the deal is guaranteed — $750,000 of the base salary and the $250,000 signing bonus.
Jernigan is only 26 and when he’s been healthy has shown flashes of being a dominating defensive tackle.
But his month and a half on the open market apparently did not result in any substantive offers on a long-term deal, because he’s making only slightly more than NFL minimum wage for players with five years of experience.
With this deal, the Eagles get a potential impact defensive lineman at a bargain-basement price for a year, and he gets to prove himself this year and reach free agency as a 27-year-old this offseason.
In addition to the $1 million base salary, Jernigan got a $250,000 signing bonus, and he’ll get $31,250 for each game that he’s active for a max of $500,000 in weekly roster bonuses. Jernigan also has a $250,000 workout bonus written into the deal.
Jernigan carries a $1.625 million cap number for 2019 (in addition to his existing dead money), which includes the $1 million base, $125,000 of the weekly roster bonuses (based on his 2018 playing time), the $250,000 signing bonus and the $250,000 roster bonus.
This is a far cry from what Jernigan was scheduled to earn.
Jernigan was initially due to make $11 million in 2019 and $12 million in both 2020 and 2021, with cap figures of $13 million in 2019 and $14 million in 2020 and 2021.
When he was released, the Eagles cleared $13 million in cap space but took on $6 million in dead money — the three remaining $2 million pro-rated years — for a net savings of $7 million under the cap.
Click here to download the MyTeams App by NBC Sports! Receive comprehensive coverage of your teams and stream the Flyers, Sixers and Phillies games easily on your device.