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The details of the Green Bay Packers’ two-year contract with cornerback Tramon Williams are out and, as expected, the deal is a comfortable one for the Packers from a financial perspective in 2018.
Tom SIlverstein of the Milwaukee Journal-Sentinel reported some of the details of the two-year, $10 million deal, noting that it carries a signing bonus of $3.25 million. Silverstein reports that the cap hits of the contract come out to $3.6 million this season and $6.375 million in 2019, a total that falls $25,000 short of the full $10 million. This discrepancy may be due to rounding or the result of an adjustment on how per-game roster bonuses are calculated; Williams suited up for 13 games last season, so only 13 games’ worth of these roster bonuses would count on the 2018 cap for the time being.
If the latter is the case, that would make his per-game roster bonus $8,333, which comes out to a total of $133,333 over 16 games. For Williams, meanwhile, the actual money paid out on the deal is split almost evenly, as he will be scheduled to receive $5.25 million this season and $4.75 million next year.
As a result of this structure, the Packers have an easy out next spring should Williams’ play decline or fail to live up to expectations. He could be released with just $1.625 million in dead money for 2019.
Here’s the rough breakdown of the contract details:
2018
Signing Bonus: $3.25M (amortized as $1.625M per year)
Base Salary plus workout bonuses plus roster bonuses: $2M
Cap Hit: $3.625M (approximate)
Cash: $5.25M
2019
Base Salary plus workout bonuses plus roster bonuses: $4.75M
Cap Hit: $6.375M
Cash: $4.75M
As a result of this contract being officially filed, the Packers currently have $16,986,175 in salary cap space according to the NFLPA. With the team’s rookie class slated to take up about $3 million in space, that leaves roughly $14 million in wiggle room for some additional signings this spring, which is more than enough to sign a couple of key role players or lower-tier free agents.