Jairus Byrd will only count as 3.5 million against the cap in 2014
Jairus Byrd’s deal was a strange one, but many are trying to figure out how the Saints a team with no salary cap could land the potential best free agent in 2014. Well here is how it breaks down according to ESPN.
Byrd received a signing bonus of $11 million on the six-year, $54 million contract. But for salary-cap accounting purposes, that figure gets divided over the first five years of his deal. His first-year salary is $1.3 million.
He will then count close to $10 million against the Saints’ cap over the final five years of his deal — assuming he lasts the entire six years (never a safe assumption in today’s NFL).
Byrd, 27, will receive a total of $20.3 million in fully-guaranteed money over the first three years, plus another $6 million that is guaranteed for injury only.
Here’s the breakdown:
2014: $1.3 million salary, $3.5 million cap number
2015: $2 million salary, $6 million guaranteed roster bonus, $100,000 workout bonus, $10.3 million cap number
2016: $7.4 million salary, $100,000 workout bonus, $9.7 million cap number
2017: $8.6 million salary, $100,000 workout bonus, $10.9 million cap number
2018: $8.6 million salary, $100,000 workout bonus, $10.9 million cap number
2019: $8.6 million salary, $100,000 workout bonus, $8.7 million cap number