It took a hold in, but not much of one, for Seahawks receiver DK Metcalf to break the bank.
The fourth-year receiver has agreed to terms on a three-year extension. PFT has obtained the details of the new deal, from a source with direct knowledge of the contract.
Here they are:
1. Signing bonus: $30 million.
2. 2022 base salary: $1 million, fully guaranteed.
3. 2023 option bonus: $12 million, guaranteed for injury, fully guaranteed on the fifth day after the start of the 2023 waiver period.
4. 2023 base salary: $2.22 million, guaranteed for injury, fully guaranteed on the fifth day after the start of the 2023 waiver period.
5. 2024 base salary: $13 million, guaranteed for injury, fully guaranteed on the fifth day following the start of the 2024 waiver period.
6. 2025 base salary: $18 million.
It’s a three-year, $72 million extension. It’s also a four-year, $76.22 million contract.
The deal includes $30 million fully guaranteed at signing, plus another $28.22 million in guarantees that vest early in each of the next two offseasons.
It’s the biggest signing bonus that a receiver has received. The cash flow for the first year ($31 million) is also a record for his position. He also will earn — and receive in hand — $43 million by next May.
The deal includes no per-game roster bonuses.
The best news for Metcalf is that the deal sets him up for free agency at age 27, since it’s only a three-year extension. Most teams usually don’t do that.