Nov 7, 2016; Seattle, WA, USA; Seattle Seahawks wide receiver Tyler Lockett (16) reacts to returning a punt by the Buffalo Bills during the first half of a NFL football game at CenturyLink Field. Mandatory Credit: Kirby Lee-USA TODAY Sports
The Seahawks recently extended Tyler Lockett to a three year extension worth $31.8M. As with every NFL contract, it’s important to examine the details, cash structure, incentives, and guarantees to accurately project the player’s future with the team. Here’s several go-to facts for the contract:
It’s a three year extension worth $31.8M, keep him in Seattle through 2021.
The deal increases his 2018 cap hit by $2.34M (from $2.1M to $4.4M)
Lockett received a $9M signing bonus
$11M of that $31.8M is fully guaranteed ($9M being signing bonus and $2M in 2018 base salary)
The deal has $22.4M of total guarantees ($11M full GTEs + 2019/2020 injury guarantees for base salary)
35% of the deal is fully guaranteed at signing. Typical top 20 receivers are in the 40-50% range (and sometimes higher/lower).
An additional $1.2M in incentives are available for the 2019/2020 seasons
2019/2020 base salaries guaranteed for injury at signing, but vest later on
The deal makes him the 21st highest paid receiver in terms of new money APY.
Typical with many Seahawks contracts, Lockett’s 2019 & 2020 base salaries are guaranteed for injury at signing but will vest into full guarantees of the 5th day of each respective league year.
Lockett’s cap hits are as follows: 2018/$4.4M, 2019/$6.6M, 2020/$10.2M, 2021/$11.5M.
Overall this appears to be a very strong contract for Tyler and his agent. Considering his previous injury concerns, he secured a strong full guarantee as well as a very player friendly total guarantee. If Lockett were to experience a career ending injury tomorrow, he would see 70% of the deal he signed (the $22.4M in total guarantees). Clearly the Seahawks have high expectations for him moving forward.
There is a considerable amount of risk for the Seahawks in this contract. If Lockett fails to return to his pre-injury form or experiences another health setback, they’ll be on the hook for a good amount of dead money and will likely be forced to keep him through 2019 and maybe 2020. However, I highly doubt Seahawks doctors would sign off internally on a deal like this without being confident in his health.
On the flip side, the receiver market is exploding. OBJ just recently set the market with an $18M APY deal. If Lockett can return to form and develop into a top 10 receiver, we may be looking back on this deal as extremely favorable for Seattle.
It will sure be fun to look back on this deal in 3-4 years.