Eagles

A closer look at Goedert’s backloaded contract extension

Eagles

Dallas Goedert signed a four-year contract extension last week to keep him with the Eagles through the 2025 season.

And now we have all the details.

Goedert’s four-year extension has a value of $57 million with $34.9 million guaranteed and a signing bonus of $10.2 million, according to a league source.

That’s an average per year of $14.25 million, making him the third-highest paid tight end in the league behind George Kittle and Travis Kelce.

This four-year extension also includes two voidable dummy years in 2026 and 2027 for salary cap purposes and is very backloaded with extremely minimal cap hits in the first two years of the extension.

In fact, here’s a look at Goedert’s contract by year:

2022: $1.035 million base salary — $3,721,732 cap hit

2023: $1.08 million base salary — $6,600,732 cap hit

2024: $14 million base salary — $19,520,732 cap hit

2025: $14 million base salary — $19,520,732 cap hit

2026: $5.8 million in dead money

The Eagles were able to use the $10+ million signing bonus, option bonuses of $3.215 million in 2022 and $12.92 million in 2023 and two voidable years to spread out the cap hits on this deal and push them deeper into the length of the contract.

That means that in the short term, the Eagles will have very manageable cap hits for Goedert and as the NFL salary cap presumably continues to rise, the Eagles are happy to save the big cap hits for 2024 and 2025.

Goedert will also have workout bonuses of $250K from 2023-25.

As always with big contracts, we have to look at the possible outs. Cutting Goedert in 2024 would leave over $16 million in dead money with a cap savings of just over $3 million. Cutting him before the 2025 season would leave $11 million in dead money and save around $8.4 million.

 

Of course, there’s a very good chance this contract doesn’t play out exactly the way it’s drawn up. The Eagles often restructure the contracts of their highest-paid players and Goedert is certainly one of them now.

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