[ad_1]
Over the past decade, arguably no NFL contract has been the subject of more discussion than that belonging to Kirk Cousins. After another disappointing season with the Minnesota Vikings, what’s the situation with Cousins’ contract? What is the impact of the deal on the Vikings ‘salary cap and what are the Vikings’ options with the Cousins deal?
Kirk Cousins contract details and bonus
In 2020, Kirk Cousins signed a two-year, $ 66 million contract extension with the Minnesota Vikings. Cousins was entering the final year of his initial three-year, $ 84 million contract with the Vikings.
In the last year of his initial contract, Cousins had $ 30 million in fully guaranteed wages. Therefore, the contract is billed as a three-year, $ 96 million contract. Cousins converted that $ 30 million in salary into a signing bonus as part of the extension. $ 31 million in fresh money has been guaranteed, with an additional $ 35 million guaranteed on the third day of league year 2021.
The duration of the Cousins contract is two additional years
When Cousins signed his two-year extension in 2020, he had one more year left on his original contract. Thus, Kirk Cousins’ contract should last until the 2022 season. Currently, none of his salary in 2022 is guaranteed. However, on the third day of the 2021 league year, all of that $ 35 million in salary will be guaranteed.
What is the impact of the Cousins deal on the Vikings salary cap?
The projected salary cap, according to Spotrac and Over The Cap for 2021, is $ 175 million. The Vikings are expected to roll over $ 4.5 million as of 2020, leaving them with a projected $ 179.5 million in 2021. As of February 1, the Vikings are expected to exceed the cap by around $ 10 million to $ 15 million. dollars in 2021.
Kirk Cousins ’contract is the biggest cap on the Vikings’ books in 2021 at $ 31 million. Of that amount, $ 21 million is a fully guaranteed base salary and $ 10 million is owed on a pro rata basis against his $ 30 million signing bonus.
Can the Vikings quit Cousins contract this offseason?
The Vikings are expected to make some tough decisions in the coming weeks. They need to clear some space, but they also probably believe they’re about to challenge if the ball breaks. They have a handful of actors that they could release, expand, or restructure. However, as it stands, their biggest stumbling block is Kirk Cousins’ contract.
Could Minnesota Vikings cut Kirk Cousins and his contract?
Freeing Kirk Cousins is not a financially viable way for the Vikings to get out of his contract.
With Cousins receiving $ 30 million as a signing bonus, prorated to $ 10 million per year in 2020, 2021, and 2022. Therefore, if the Vikings were to cut Cousins in 2021, the $ 10 million which should count in 2022 would accelerate on 2021. cap. That would leave $ 20 million in prorated bonus as dead money.
Related | 2021 Free NFL Agents: Top Available at Every Position
However, with $ 21 million in base salary guaranteed to Cousins, that will also remain capped in 2021. In total, Cousins would leave $ 41 million in dead money on the Vikings’ salary cap for 2021 if released. .
Trading Kirk Cousins offers more flexibility when it comes to exiting his contract
While the outright release of Cousins was not financially viable for the Vikings, a trade would be. As part of the exchange, the team that acquires Cousins would take his $ 21 million guaranteed salary. Therefore, in the event of an exchange, the Vikings would end up with $ 20 million in dead money on their cap – a savings of $ 11 million.
Related | Vikings Pre-Senior Bowl 7 rounds 2021 NFL Mock Draft
The team that acquires Cousins gets a reasonable deal in 2021, as Cousins will only have $ 21 million against their cap. However, in 2022 that cap skyrocketed to $ 35 million. All of that $ 35 million will be fully guaranteed starting on the third day of the 2021 league year.
Could Vikings consider restructuring or extending Kirk Cousins contract?
The Vikings have already addressed an issue regarding Kirk Cousins’ salary cap with a contract extension. It cost them an additional $ 66 million in cash and pushed those cap concerns further down the line. However, with the salary cap expected to rise over the next two years, the Vikings might be ready to endure the pain in the long run. However, Cousins has all the weight and has no reason to compromise on a contract extension.
A restructuring is also an option, but the maximum number of Cousins in 2022 does not help matters. Transferring money from 2021 to 2022 will only inflate an already high cap of $ 45 million. This makes it difficult for the Vikings to do anything with Cousins’ contract that doesn’t involve adding more years.
One option would be to add the duration of the contract in the form of zero years. Any signing bonus the Vikings were to give the Cousins in 2021 would be prorated over five years. Therefore, if the Vikings converted $ 15 million into a signing bonus, they could prorate that money to $ 3 million per year over the next five years. This would potentially lower Cousins’ salary cap by $ 12 million in 2021.
If the Vikings are going to stick with Cousins, adding empty years is a short-term fix. They may need to do another restructuring in 2022 to lower what would be a cap of $ 48 million hit in 2022. However, with up to three empty years, they can spread that cap into 2023, 2024 and 2025.
Want more information and analysis on the NFL?
Make sure to follow us on Twitter (@ PFN365) to stay up to date with everything NFL related. Also, keep visiting Professional football network for NFL news and in-depth analysis regarding the 2020 season and beyond.
[ad_2]
Source link