It was every week in the past that the Seattle Seahawks answered one offseason query concerning a participant who many thought could be minimize or traded for wage cap functions, Tyler Lockett. Particularly, the crew agreed to a 4 yr, $69.2M contract extension with Lockett, and the phrases of that contract have now been made public, due to Subject Yates of ESPN.
For these questioning what the 2022 possibility bonus is, it’s principally a deferred signing bonus. The crew has used deferred bonuses previously when tight on cap area, notably with Bobby Wagner’s 2015 extension after which Justin Britt’s extension in 2017. Assuming the deferred possibility bonus is handled as a signing bonus, here’s what the cap hits for Lockett must be over the following 5 seasons:
2021: $9.25M ($2M base + $6.05M signing bonus proration + $1.2M 2020 incentive)
2022: $10.05M ($3M base + $3.8M signing bonus proration + $3.25M possibility bonus proration)
2023: $16.75M ($9.7M base + $3.8M signing bonus proration + $3.25M possibility bonus proration)
2024: $23.95M ($15.3M base + $3.8M signing bonus proration + $3.25M possibility bonus proration + $1.6M roster bonus)
2025: $23.95M ($15.3M base + $3.8M signing bonus proration + $3.25M possibility bonus + $1.6M roster bonus)
Clearly the 2023 and 2024 cap hits are important, however these are the years when the wage cap shouldn’t simply bounce again from COVID but in addition see important help from the lately introduced tv contracts. For many who are questioning if the $23.95M cap hit in 2023 and 2024 may push the Seahawks to maneuver on from Lockett previous to that season, if he have been launched previous to the 2023 season, the crew would then have to acknowledge $14.1M in useless cash.
In brief, Lockett’s now signed and below contract for the following 5 years, and the quantity of useless cash the Hawks must tackle in the event that they have been to commerce or launch him anytime quickly actually appears to be a sign that he will likely be round for the foreseeable future.