March 25, 2020
When Darius Slay's new contract with the Philadelphia Eagles was originally reported, it seemed like the biggest cornerback deal in the NFL, at least in terms of the new money portion. That's what will happen when the player's agent provides the details of the deal:
The deal after the deal: the Eagles and new CB Darius Slay reached agreement on a 3-year, $50 million extension that includes $30 million guaranteed, @RosenhausSports tells ESPN.
— Adam Schefter (@AdamSchefter) March 19, 2020
Turns out, those numbers aren't close to reality. Here's the structure Slay's deal, via OverTheCap.com:
So what does that chart mean?
• Slay's cap number in 2020, as you can see, is a very low $4,300,000. In 2021, it jumps to $15,750,000, and $19,750,000 in 2022.
• If you look at the two pink-colored columns on the right, you can see that the Eagles are locked into Slay for two years. Releasing him during the 2022 offseason would only result in a dead money charge of $6,500,000.
Put simply, if you add up the $4,300,000 cap number in 2020, the $15,750,000 cap number in 2021, and the $6,500,000 in dead money in 2022, at worst, this is a two-year contract for $26,550,000, and now arguably a better deal, including the loss of third- and fifth-round picks, than what it would have taken to land Byron Jones.
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