Looking at the finer details of Garrett’s contract and his cap hits.
Myles Garrett is the highest-paid defender in the history of the NFL, and now we have the full details of what was reported as a 4-year, $160 million extension with the Cleveland Browns. What are the year-by-year cap implications of that?
Before we get into the breakdown, we need to do a sub-calculation for the cap hits from his contract (prior to the extension) that are still preserved:
- In 2021, Garrett had an option bonus of $20.665 million. Bonuses are pro-rated over a span of five years. Since we’re in the year 2025, it’s the final year of that particular option bonus, worth $4.133 million.
- In 2022, Garrett had an option bonus of $17.965 million. He’s got two years left of that against the cap, worth $3.593 million per year.
- 2023 is when Garrett’s contract was last restructured. At the time, the Browns took $16.7 million of his base salary from 2023 and converted it into a signing bonus. Same concept — it was pro-rated over five years, so he’s got three years left of that, at $3.34 million per year.
- Part of that 2023 restructure included that in 2024, he’d have an option bonus worth $18.9 million. We’ve got four years left of that, at $3.78 million per year.
- Garrett also would have had option bonuses in 2025 and 2026, but those were to be exercised on the fifth day of those respective league years. Since those dates were never reached before the extension, we essentially ignore them.
- The “total bonus” values from the table above, appear in the “extension” table below as the “Original Bonus” column.
- Garrett has low base salaries from 2025-2028. His base salaries in 2029 and 2030 are high, but not guaranteed yet.
- The Bonus 1 column is the new signing bonus for this contract, worth $21.541 million ($4.308 million per year).
- In 2026, a $29.2 million option bonus kicks in ($5.84 million per year).
- In 2027, a $39.358 million option bonus kicks in ($7.872 million per year).
- In 2028, a $21.406 million option bonus kicks in ($4.281 million per year).
- Garrett has a $1 million workout bonus from 2025-2030.
- Garrett has a $1 million roster bonus from 2025-2030. That is $58,823 per game played.
- $88.796 million is fully guaranteed at signing for Garrett. That includes his 2025 and 2026 base salaries, his new signing bonus, his 2026 option bonus, and $29.5 million of his 2027 option bonus.
- Garrett’s contract voids in 2031.