Inside the Kenny Golladay deal

Tampa Bay Buccaneers v Detroit Lions
Getty Images

It took a few days, but former Lions receiver Kenny Golladay ended up with the top receiver deal in 2021 free agency. Here’s the full breakdown of the four-year, $72 million deal, per a source with knowledge of the terms.

It starts with a $17 million signing bonus, paid out fully in 2021, with no deferral.

The base salary of $1 million in 2021 is fully guaranteed at signing.

In 2022, Golladay earns a base salary of $13 million. Of that amount, $10 million is fully guaranteed at signing. He also gets a $4.5 million roster bonus on the third day of the 2022 league year. On the third day of the 2022 league year, the remaining $3 million of Golladay’s base salary becomes fully guaranteed.

In 2023, Golladay has a $4.5 million roster bonus. If becomes fully guaranteed on the third day of the 2022 league year. Golladay likewise earns a base salary of $13.25 million in 2023.

In 2024, he earns a base salary of $14.25 million, along with a $3.5 million roster bonus due on the third day of the league year.

The deal also includes $250,000 workout bonuses in 2022, 2023, and 2024. For 2021, the contract has $250,000 in per-game roster bonuses.

In each year of the contract, Golladay can earn a $250,000 incentive for making the Pro bowl. He gets another $750,000 with 1,200 receiving yards or 80 receptions or 10 touchdowns.

The deal pays $28 million fully guaranteed at signing. Another $12 million becomes fully guaranteed on the third day of the 2022 league year. That creates a practical guarantee of $40 million; to avoid owing that amount, the Giants would have to cut Golladay after one year, at $28 million.

It’s a base deal of $72 million over four years, with the opportunity to push it to $76 million.

Each year of the deal has an early roster bonus, forcing the Giants to make a quick decision regarding whether to keep Golladay in 2022, 2023, and 2024.

Given the cap reduction to $182.5 million, the deal is comparable to contracts given in 2018 ($177.2 million salary cap), when Odell Beckham received $18 million per year, Antonio Brown got $17 million per year, Mike Evans was paid $16.5 million per year, Brandin Cooks received $16.2 million per year, and Sammy Watkins was paid $16 million per year.

The Giants are taking a calculated risk with the contract, given that Golladay played in only five games last season, finishing with 20 catches, 338 yards, and two touchdowns. If it works, Golladay will have the best receiver since Beckham, who was traded only one year after signing his long-term deal.

16 responses to “Inside the Kenny Golladay deal

  1. Instantly makes the Giants offense more potent. Hopefully he stays healthy but he got a pretty damn good contract given the circumstances.

    When the Giants need to, they don’t shy away from spending money. Sure worked out well back in 2005, and this free agency feels a lot like that one.

  2. My goodness, these contracts are absolutely absurd. Golladay seems to be getting paid for everything he does including eating his corn flakes in the morning.

  3. The NY media is going to freak out over this guy’s inconsistency… completely disappears for stretches.

  4. The Giants have a lot of short term contracts on the books that wont affect 2022 and beyond. I think this was an overpay BUT the Giants’ cap situation after this year is pretty good. Getty likely will be gone after this year but no, he didnt screw up the Giants cap for years to come.

    Also, Galloday, while a Giant, works in NJ…not in NY.

  5. Whew! Glad my Bengals didn’t try to beat that deal. I would want to see how he comes back from injury before throwing that much money at him. Especially with some good WRs in this draft for a lot less.

  6. Not mad at Kenny – glad he got paid – but he isn’t worth 18million a season- but I don’t like the Giants anyways so I really have nothing to complain about

  7. berniemadoffsides says:
    March 21, 2021 at 12:12 am
    Instantly makes the Giants offense more potent. Hopefully he stays healthy but he got a pretty damn good contract given the circumstances.

    When the Giants need to, they don’t shy away from spending money. Sure worked out well back in 2005, and this free agency feels a lot like that one.
    ——————————————————————————————
    The Giants have a long history of letting their talented young players leave in free-agency.

  8. No word about that season ending injury yet? Can he pass his physical? Missing almost three months it could be career ending right? Or maybe he simply quit on the season and still got paid. Not one word about his recovery or being at full speed by training camp so can’t wait to find out what really happened

  9. My mistake on the tax question. While New York is the highest tax state in the country New Jersey is only the 3rd highest tax state in the country. There’s some love for ya!

  10. This is essentially a 3 year contract worth at least $64.25MM, regardless of when the money rolls into a guaranteed position. Essentially the dead cap hit isn’t worth exited the deal before the 3rd year completes, as 2022 has $23.6 million dead cap money vs. normal cap hit of $21.15MM and 2023 has $10.2 million in deadcap vs. normal cap hit of $21.4MM. Of course that assumes he doesn’t completely implode in the first two years, which I don’t believe he will . . . he won’t be worth $18MM a year but he won’t implode either. Also after three years the NYG would still take a $6.8MM dead cap hit in 2024 but that is versus his normal cap hit of $21.4MM that year . . . so the first three years he would be paid the signing bonus of $17MM + base salaries of $27.25MM + roster bonuses of $9.25MM + $750K workout bonueses = $64.25MM – that is really the guaranteed amount of money.

Leave a Reply

You must be logged in to leave a comment. Not a member? Register now!

This site uses Akismet to reduce spam. Learn how your comment data is processed.