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.