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Tim Jernigan’s new contract with the Eagles is very inexpensive

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“Big Money Tim” no longer.

NFL: Super Bowl LII-Philadelphia Eagles Press Conference Matthew Emmons-USA TODAY Sports

The Philadelphia Eagles re-signed defensive tackle Timmy Jernigan to a one-year deal last week but his new contract details weren’t made available. That is, until now.

NBC Sports Philadelphia’s Reuben Frank has the scoop:

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.

That’s not a lot of money for a guy who previously signed a four-year, $48 million contract worth $26 million guaranteed back in November 2017.

Jernigan’s value took a huge hit last year. He suffered a potential career-ending injury that resulted in him only playing 45 total snaps during the 2018 season. He clearly did not garner much interest in free agency after the Eagles decided not to pick up his 2019 option.

Speaking of, the Eagles saved $7 million in cap space by declining to pick up Jernigan’s option. They also picked up $6 million in dead money. So, when you account for that dead money in addition to his new deal, Jernigan is accounting for over $7 million against Philly’s cap this season.

The 2019 season will be a big opportunity for Jernigan, who is still only 26 years old, to reset his value. If he’s able to stay healthy and produce, he could find himself getting a nice, new deal during the 2020 offseason. The Eagles might be able to re-sign him or they could let him walk in free agency with the hopes of netting a 2021 compensatory pick.

For now, Jernigan figures to be a key member of the Eagles’ defensive tackle rotation at a discounted rate.