The Philadelphia Eagles have made a number of acquisitions and re-signings since NFL free agency began last week. Let’s revisit the terms of those incoming contracts now that more details have been revealed.
Slay’s previous contract with the Detroit Lions ran though the 2020 season. Upon trading for the three-time Pro Bowl cornerback, the Eagles tacked on three more years to his deal. The extension was reportedly said to be worth $50 million over three years with $30 million guaranteed, making Slay the NFL’s highest paid corner in terms of new money.
A closer look at Slay’s deal shows it’s essentially only a two-year commitment. The team can feasibly move on from him — if he should lose a step — after the 2021 season, per Over The Cap:
The numbers reported at Hargrave’s signing: $39 million over three years with $26 million guaranteed. A detailed breakdown via Over The Cap shows there are two void years at the end of Hargrave’s deal to spread out his cap hits. The Eagles could move on from Hargrave after 2021 but they’ll realistically be hoping to have him through 2022.
McLeod’s contract was originally reported as $12 million over two years. It’s really a two-year, $8.65 million with $7.8 million guaranteed. I think it’s surprising the Eagles are committing to him for two more seasons given his struggles from 2019 and his aging curve. Breakdown via Over The Cap (the final three years are void years):
Mills’ contract was originally reported as $5 million over one year. It’s actually worth $4 million with the other $1 million available through incentives. Mills has talked about how the Eagles envision him replacing the Malcolm Jenkins role. Breakdown via Over The Cap:
The Eagles signed Nate Sudfeld to a one-year contract worth $2 million. He can make up to another $1 million in incentives. Sudfeld made $3.1 million on the second-round restricted free agent tender in 2019, so this is a step back for him. I don’t think he’s locked in as the No. 2 quarterback behind Carson Wentz. Breakdown via Over The Cap:
The Eagles signed Parks to a $1.5 million contract with most of it guaranteed. It’s unclear exactly where he’ll line up in the secondary but the early bet is he’s going to be the third safety in the old Corey Graham/Andrew Sedenjo role. Breakdown via Over The Cap:
NRC’s one-year deal is worth up to $1.3 million with $1 million guaranteed, per ESPN’s Jordan Schultz.
The Eagles were able to retain Ridgeway, who projects as their fourth defensive tackle, on a near-minimum one-year deal. Breakdown via Over The Cap:
Brown received one of those one-year minimum benefit contracts instituted by the new CBA. ESPN’s Tim McManus reports the deal is worth $910,000. Brown definitely has a chance to make the roster but he’s hardly locked in from a financial perspective.
Since Johnston was an exclusive-rights free agent, the Eagles were able to offer him a minimum contract. The punter’s two options: 1) accept it or 2) stop playing in the NFL. He chose the former. Breakdown via Over The Cap:
CAP SPACE UPDATE
Over The Cap shows the Eagles having $28,686,646 in cap space, which actually ranks fifth most in the NFL. OTC’s model hasn’t yet accounted for the Brown and NRC signings, though, which means the exact figure is a little lower.
So, Howie Roseman still has money to spend. That doesn’t necessarily mean he will; he essentially confirmed the Eagles are done making big moves at this point in free agency. He specifically said any future additions will be on the level of an NRC signing.
We’ll see if that’s the case.