Breaking down the Wagner extension and what it means for the Seahawks
Details surfaced this morning on the Bobby Wagner extension. It was reported the week before that Bobby signed a three year extension worth $54M with $40.2M in total guarantees. The deal includes a $15M signing bonus and $24.5M in full guarantees. Using the numbers reported by Over the Cap, here’s how the contract breaks down, visually.
His old 2019 cap hit was $14,037,500. With a new cap hit of $15.85M in 2019, Seattle actually loses about $1.8M in 2019 cap space.
The full guarantee on the deal is $24.5M, which is comprised of his $15M signing bonus plus his full 2019 base salary (of $9.5M).
The total guarantee on the deal is $40.2M, which is comprised of the $15M signing bonus + fully GTD 2019 base salary + his full 2020 base salary being injury protected + $5M of his 2020 base salary being injury protected.
His full 2020 base salary and $5M of his 2021 base salary are protected against injury at signing — and vest into full guarantees on the 5th day of those relevant waiver periods.
The vesting day for those injury guarantees occurs on the 5th day of the waiver period.
Looking at the way the deal is structured, I don’t see Seattle having a window to get out of this contract until the final year — which is 2022. They likely won’t want to as I don’t see him declining, but it’s a good thing to be aware of.