Inside the Terry McLaurin deal

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Commanders receiver Terry McLaurin has become the latest wideout to get huge money. We’ve gotten a look at the details of the contract McLaurin signed earlier this week.

Here’s the full breakdown, per a source with knowledge of the terms:

1. Signing bonus: $28 million.

2. 2022 base salary: $1.054 million.

3. 2022 per-game roster bonus: Up to $425,000, fully guaranteed at signing.

4. 2023 90-man offseason roster bonus: $2 million, fully guaranteed at signing.

5. 2023 workout bonus: $500,000, fully guaranteed at signing.

6. 2023 base salary: $1.825 million, fully guaranteed at signing.

7. 2023 per-game roster bonus: Up to $850,000, fully guaranteed at signing.

8. 2024 90-man offseason roster bonus: $2 million, guaranteed for injury at signing; fully guaranteed on fifth day of 2024 league year.

5. 2024 workout bonus: $500,000, guaranteed for injury at signing

6. 2024 base salary: $15.15 million, guaranteed for injury at signing.

7. 2024 per-game roster bonus: Up to $850,000, fully guaranteed at signing.

8. 2025 90-man offseason roster bonus: $1.4 million.

5. 2025 workout bonus: $500,000.

6. 2025 base salary: $15.25 million

7. 2025 per-game roster bonus: Up to $850,000.

The contract includes a voidable year in 2026, spreading the signing bonus over five years instead of four,

Of the $18.5 million in 2024 compensation, $12.5 million becomes fully guaranteed in 2023 and the rest becomes fully guaranteed in 2024. Unless the Commanders cut McLaurin after only one year, his guarantees will reach $47.154 million by next March.

The guaranteed per-game roster bonuses and workout bonuses must still be achieved to be earned.

The contract includes a $250,000 escalator for 2023, 2024, and 2025 triggered by being a first-ballot Pro Bowler in 2022, 2023, and 2024, respectively. The contract includes $250,000 in incentives for 2025.

McLaurin was due to make $2.954 million in 2022. His contract has a four-year value from signing of $17.788 million. The new-money average is $22.733 million.

As one source put it, the McLaurin deal proves how quickly contracts signed by players like C.J. Godwin ($20 million per year in new money), Mike Williams ($20 million per year in new money), and D.J. Moore ($20.628 million per year in new money) can become below market.

Perhaps the best news for McLaurin, who is only 26, is that he’ll be in line for another deal at or before his 30th birthday, since the extension covers only three new years.

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