It took a little while, but it’s finally in. Signed on Monday, the breakdown of the Jalen Hurts contract has landed.
Here are the full details, per a source with knowledge of the terms.
1. Signing bonus: $23.294 million.
2. 2023 base salary: $1.01 million, fully guaranteed.
3. 2024 option bonus: $38.875 million, fully guaranteed.
4. 2024 base salary: $1.125 million, fully guaranteed.
5. 2025 option bonus: $40.83 million, fully guaranteed.
6. 2025 option bonus: $1.17 million, fully guaranteed.
7. 2026 option bonus: $49.785 million, $3.696 million of which is fully guaranteed at signing, $16.5 million of which becomes fully guaranteed in March 2024, and $30 million of which becomes fully guaranteed in March 2025.
8. 2026 base salary: $1.215 million.
9. 2027 option bonus: $44.655 million, $22 million of which becomes fully guaranteed in March 2026, and $696,000 of which becomes fully guaranteed in March 2027.
10. 2027 90-man roster bonus: $5 million.
11. 2027 base salary: $1.345 million.
12. 2028 option bonus: $39.61 million.
13. 2028 90-man roster bonus: $10 million.
14. 2028 base salary: $1.39 million.
15. Super Bowl win escalator: $500,000 per year, for each subsequent year of the deal.
16. NFL MVP escalator: $500,000 per year, for each subsequent year of the deal.
It’s a five-year, $255 million extension, with a new-money average of $51 million per year. At signing, it’s a six-year, $259.3 million deal, with an annual average of $43.21 million.
The deal has $110 million fully guaranteed at signing. By 2024, it becomes $126.5 million. By 2025, it becomes $157.3 million. By 2026, it pushes to $179.3 million.
It seems to be a firm four-year commitment, a total payout of $157.3 million. That’s $39.325 million per year. The final two years are a team option at $51 million per season.
If the Eagles pull the plug after four seasons, there would be a lingering $22 million guarantee for 2027, subject to offset. (Parting ways would still avoid $29 million in additional cash, $22 million guarantee notwithstanding.)
The deal gives Hurts the highest ever average per year in terms of new money. The tradeoff is a reduced cash flow, with $24.3 million in year one, $64.3 million through year two, and $106.3 million through year three.
For a guy who slipped to No. 53 in the draft three years ago, it’s a win. For the Eagles, it’s a win. And if he keeps playing like he did in 2022, there will eventually be an adjustment.