The contract details for Josh Jacobs were released

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On Wednesday, the NFL’s new league year officially kicked off, meaning that free agents on expiring contracts were finally able to ink deals with their new teams.
We still don’t know exactly how much cap space the Green Bay Packers have to work with in 2024, as all of the details of cornerback Keisean Nixon’s deal have yet to become public, but Spotrac has updated with information on the Packers’ two biggest free agent signings: running back Josh Jacobs and safety Xavier McKinney.
For the purposes of this article, we’re going to focus on the payment structure and cash flow of these two deals.
To put it simply: If they are good, the Packers are going to want to keep them.
It’s as clear as that.
With all of the cap manipulation going on in the NFL these days, it’s more important to actually hone in on the actual money moving around on a year-to-year basis than the cap hits.
Easily, the most important part of contracts in the modern NFL is how teams can get out of them if things go south.
That’s where we’ll be spending most of our energy here.
Josh JacobsAs is tradition with the Packers, Jacobs received very little guaranteed money from the team.
All $12.5 million in guaranteed money in Jacobs’ contract comes in the form of a signing bonus, with none of his salary or roster bonuses being promised.
Green Bay does have an out in Year 2 of this deal, as most of Jacobs’ money in 2025 will come via a $5.93 million roster bonus that will trigger on the fifth day of the new league year next season.
There is a possibility that the Packers may want to post-June 1st release him in 2025, which would save them around about $8 million in cap space that summer, but would also push roughly $6 million in dead cap into 2026.
For that scenario to play out, though, Jacobs would need to have a profoundly disappointing 2024 season.
As long as he’s in the ballpark of the player that he’s been over his first five seasons in the NFL, this deal should be thought of as a two-year, $23 million contract with team options of $11.5 million and $13.5 million in 2026 and 2027, respectively.
Xavier McKinneyLike Jacobs, McKinney also received zero dollars of his salary guaranteed, despite signing a sizeable contract.
Nothing beyond his $23 million signing bonus is promised.
Like Jacobs, McKinney is a possible post-June 1st release candidate in 2025, but it seems almost unfathomable that he would play poorly enough for the team to actually pull the trigger on that type of a move.
In that scenario, the Packers would be able to save around $12 million in cap space, which they wouldn’t be able to use until the summer, but push $11.5 million in dead cap into 2026.
Again, this almost certainly won’t happen.
This deal, functionally, boils down to a two-year, $36.9 million contract with team options of $13.35 million and $16.75 million in 2026 and 2027, respectively.
Interestingly enough, the financial commitment for McKinney actually decreases pretty dramatically after the first season, due to the size of his roster bonus.
For example, McKinney will only be making 53 percent of his Year 1 cash flow in Year 3 of his deal.
For perspective, Jacobs is set to make 78 percent.
McKinney will receive very little of his cash via salaries until Year 4, as the majority of his money in Years 2 and 3 will come by way of roster bonuses, which trigger on the third day of the new league year.

As of Wednesday, free agents with contracts that were about to expire could finally sign with their new teams because the NFL’s new league year officially began. Even though cornerback Keisean Nixon’s contract details are still unknown, we still don’t know exactly how much cap space the Green Bay Packers will have in 2024. However, Spotrac has provided information on the team’s two biggest free agent signings, safety Xavier McKinney and running back Josh Jacobs.

The cash flow and payment schedule of these two transactions will be the main topics of discussion in this article. In other words, if they are good, the Packers will want to retain them. That much is obvious. These days, with all of the cap manipulation in the NFL, it’s more crucial to focus on the real money that moves from year to year rather than the cap hits. The ability for teams to out of a contract if things don’t work out is undoubtedly the most significant aspect of modern NFL contracts. We’ll be concentrating the majority of our efforts there.

Josh Benton.

The Packers gave Jacobs very little guaranteed money, as is customary with them. Nothing in Jacobs’ contract is guaranteed in terms of salary or roster bonuses; instead, the entire $12.05 million in guaranteed money is a signing bonus.

Although the majority of Jacobs’ 2025 salary will come from a $5.93 million roster bonus that kicks in on the fifth day of the new league year the following season, Green Bay does have an out in Year 2 of this deal. The Packers could decide to release him after June 1st, 2025, which would push up their dead cap to roughly $6 million in 2026 but save them about $8 million in cap space that summer.

However, for that to come to pass, Jacobs would have to have a very bad 2024 season. This should be viewed as a two-year, $23 million contract with team options of $115.5 million and $135.5 million in 2026 and 2027, respectively, as long as he stays within the range of the player that he has been over his first five seasons in the NFL.

A.J. McKinney.

Like Jacobs, McKinney signed a sizable contract, but he also received no guarantee of any portion of his salary. Nothing is guaranteed except for his $23 million signing bonus.

As with Jacobs, McKinney could be a free agent after June 1st, 2025, but it’s almost unbelievable that he would perform so poorly that the team would actually decide to make that kind of addition. In that case, the Packers would push $11.5 million in dead cap into 2026 while saving about $12 million in cap space that they couldn’t use until the summer. Once more, it’s highly unlikely that this will occur.

The basic terms of this deal are a two-year contract worth $36.19 million, with team options worth $13.35,75 million, and $13.35,35 million in 2026 and 2027, respectively. Surprisingly, because of the size of his roster bonus, McKinney’s financial commitment actually drops quite a bit after the first season. For instance, in Year 3 of his deal, McKinney will only be making 53% of his cash flow from Year 1. In comparison, Jacobs is expected to receive 78 percent. Due to roster bonuses that start on the third day of the new league year, McKinney will not receive much of his money in salary until Year 4.

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