The Las Vegas Raiders not too long ago signed broad receiver Hunter Renfrow to a contract extension and ever since that information hit over every week in the past, there have been quite a few individuals suggesting that the Pittsburgh Steelers ought to signal broad receiver Diontae Johnson to an analogous two-year extension this summer season and with out even seeing the numbers. Now that the official numbers for the Renfrow extension have been uncovered by Over the Cap, I feel it’s a good time to interrupt them down and see if certainly it could be a deal that Johnson would possibly entertain signing in some unspecified time in the future earlier than Week 1 of the 2022 common season.
Let’s begin by taking a look at what Renfrow was initially scheduled to earn in 2022 previous to him signing his new deal. That quantity was set to be $2.54 million as he had certified for a Proven Performance Escalator increase for 2022. That $2.54 million is formally termed as being outdated cash.
Now, as a part of the contract extension that Renfrow signed, he acquired a signing bonus of $9.18 million and a base wage in 2022 of $1 million. That’s $10.18 million absolutely assured for 2022. He may also earn one other $629,000 in 2022 by way of per-game roster bonuses. That quantity, nevertheless, isn’t absolutely assured. So, in whole, Renfrow stands to earn a most of $10.809 million in 2022, of which $10.108 million is absolutely assured.
In 2023, Renfrow is scheduled to obtain a completely assured roster bonus of $4.32 million. That brings the quantity of full ensures associated to his new deal to $14.5 million. He can be scheduled to earn a base wage of $6.5 million, which I imagine as of proper now could be solely an damage assure. If Renfrow is on the roster on the third day of the 2023 league yr, that $6.5 million then turns into absolutely assured. He may also earn one other $629,000 in 2023 by way of per-game roster bonuses. A $100,000 exercise bonus can be out there to him in 2023 as effectively.
So, let’s recap the place Renfrow can be via the 2023 season. The most money he can earn via the 2023 season is $22.358 million and that’s provided that he hits all of his roster bonuses and satisfies the necessities for his exercise bonus. Remember, Renfrow was beforehand scheduled to earn $2.54 million in 2022 so his most new cash whole via 2023 could be $19.818 million.
While impossible to occur, the Raiders may lower Renfrow after the 2022 season and previous to the third day of the 2023 league yr. If that have been to occur, and if Renfrow have been to hit his full roster bonuses in 2022, he would exit Las Vegas with $15.129 million.
For the 2024 season, Renfrow is scheduled to earn a base wage of $11.153 million. That isn’t assured in any kind. He may also earn one other $629,000 in 2024 by way of per-game roster bonuses. Another $100,000 exercise bonus can be out there to him in 2024 as effectively.
In whole, Renfrow can earn a most of $34.24 million over the course of the subsequent three season. Currently, solely $14.5 million of that cash is absolutely assured. With $31.7 million of that full contract being thought of new cash, Renfrow’s official new cash common is simply $15.85 million. He is now thought of the 19th highest paid wide receiver within the NFL because of that deal.
One last observe. The Raiders added two void years to Renfrow’s extension in order that it could assist preserve his cap expenses a bit of decrease. His present cap cost for 2022 is $3,543,987. Had the 2 further void years not been used, Renfrow’s cap cost in 2022 would have been $4,767,987.
So, after breaking down Renfrow’s extension, what number of of you studying can fathom Johnson taking the identical deal? I actually can’t. Just $14.5 million absolutely assured is probably going one thing Johnson and his illustration would snigger at, together with a brand new cash common of simply $15.85 million.
As I’ve acknowledged for a number of months now, I absolutely count on Johnson to be in search of a brand new deal that features a new cash common of at the very least $20 million. Additionally, and primarily based on how most different broad receivers have been paid this offseason (Mike Williams, D.J. Moore, Amari Cooper, Chris Godwin, Christian Kirk), I’d count on Johnson to be in search of at the very least $37 million in absolutely assured cash in a brand new deal and that’s the low facet.
In closing, in now approach, form or kind ought to Renfrow’s latest contract extension be used as a believable choice with regards to Johnson. If the Steelers have been to get Johnson to conform to such a deal, Omar Khan ought to immediately be awarded General Manager of the Year for 2022.