Inside the Odell Beckham Jr. deal

AP

PFT has obtained and fully analyzed the Odell Beckham Jr. contract. To see how the six-year, $98.459 million contract is constructed, keep reading.

For starters, there is no extension. It’s a new contract that covers the next six years. The full details for the six-year deal appear below.

1. Signing bonus: $20 million ($10 million will be paid by September 19, $5 million will be paid by November 21, and $5 million will be paid by February 20).

2. 2018 base salary, fully guaranteed: $1.459 million.

3. 2019 base salary, fully guaranteed: $16.75 million.

4. 2020 base salary: $14 million. Of that amount, $2.75 million is fully guaranteed at signing, the rest is guaranteed for injury only. As of the third day of the 2020 league year, the $14 million becomes fully guaranteed.

5. 2021 base salary: $14.5 million. Of that amount, $12.791 million in guaranteed for injury at signing. The amount becomes fully guaranteed on the third day of the 2021 league year.

6. 2022 base salary: $13.75 million.

7. 2023 base salary: $13.75 million.

8. Workout bonuses from 2019 through 2023: $250,000 per year ($1.25 million total).

9. Training camp roster bonuses for 2021 through 2023: $1 million per year, if he shows up on the first day of training camp.

That last term is smart, and it suggests that the Giants don’t plan to rip up the final three years of the deal if/when Beckham feels like he’s underpaid. If he holds out in any of those three years, he loses $1 million. Period.

Here’s the cash flow: $21.459 million through 2018; $38.459 million through 2019; $52.709 million through 2020; $68.459 million through 2021; $83.459 million through 2022; $98.459 million through 2023. (Note that the cash flow through the first three years is more than $7 million less than the reported $60 million. That’s a fairly significant difference.)

He has $40.959 million fully guaranteed at signing, and $65 million guaranteed for injury at signing. Given the structure of the vesting, with the guarantees kicking in the same year the money is paid, the Giants could (in theory) part ways with Beckham after two years and $41.2 million over after three years and $52.709 million.

Finally, the incentives. (Actually, escalators.) Beckham can boost his 2022 salary by up to $2.5 million. He triggers the escalators in $500,000 chunks, getting another half million for each of the following accomplishments: (1) 96 or more receptions; (2) 96 or more receptions and a playoff berth; (3) 1,374 receiving yards; (4) 1,374 receiving yards and a playoff berth; and (5) 12 touchdown receptions. The same potential dollars apply to 2023, with the same formula based on what he does in 2022.

So to get the extra $5 million, he needs 96 catches, 1,374 yards, 12 touchdowns, and playoffs in 2021 and in 2022. At a time when someone other than Eli Manning likely will be the quarterback.

Again, the deal is very good, but it’s hardly the earth-shattering package that many thought Beckham deserved. And I’d still take the Sammy Watkins contract, especially since he’ll make only $4 million less over the first three years and end up back on the market.

10 responses to “Inside the Odell Beckham Jr. deal

  1. That last term is smart, and it suggests that the Giants don’t plan to rip up the final three years of the deal if/when Beckham feels like he’s underpaid. If he holds out in any of those three years, he loses $1 million. Period.

    That’s not likely. You can bet he’ll be holding out by year three and he won’t care about the $1M because he’ll certainly be asking for a truckload more new money in the deal. When I look at this deal I see it as a three-year deal. At the end of the three years the Giants will be tired of him and will eat the remaining $10M (pro-rated signing bonus) to be rid of him.

  2. “Again, the deal is very good, but it’s hardly the earth-shattering package that many thought Beckham deserved”

    I’m not so sure everyone thought he deserved an earth shattering package, but the feeling from how he and the front office talked about it, yes it did fall short. I hope you can understand the difference between what other thought he deserved and speculation based on talk.

  3. It’s actually an amazing deal for Odell, because he’s only on the field for ten games per season.

    Eli’s woefully inaccurate passes will ensure that trend continues.

  4. Love him or hate the man can play and defensive coordinators game plan for he. Lazy clown makes one outer world catches every quarter against Philly.

  5. You keep forgetting endorsements. Those endorsing have a guy in the NY spotlight for 6 years. It may not be 6 years but the image is.

    He will make 2X to 3X what Watkins makes.

  6. For thos ewho think he could have gotten more you are overlooking something:

    A deal has to make economic sense to both sideds.
    If OBJ wanted even more teh Giants could have said:

    1 – you are under contract this year.

    2 – we will franchise you in 2019 and 2020

    3 – when you are 28 1/2 you will be a free agent, but you are taking some risk that you don’t slow down a little and don’t get hurt.

    OBJ didn’t have as much leverage as other players.

    It was a fair deal for both sides.

  7. Some players just wear emotions on there sleeves just like most Humans.
    Do i like when Brady lashes out or f bombs it up? No i do not but i understand he cares.
    I cannot hate on a player for getting paid get that money Odell.

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