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. 

YearBase SalarySigning BonusRoster BonusCap Hit

Notable observations:

  • 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.