It’s the best advice I can give this time of year: Never, ever, react to the initial contract numbers announced during NFL free agency.
They’re never what they seem. Never. These deals almost always are inflated on the initial reporting to include every penny that player might earn. It makes the player look good. The market look good. The agent look good. But once you actually get a chance to look at the deal, you see the loopholes and outs worked in by the team.
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Sure, there’s $40 million guaranteed … but only if he’s on the roster the fifth day of the league year. Cut before? That money is gone. Sure, the deal might be worth $80 million, but only if the player makes the Pro Bowl every year and wins three MVP awards.
These details are available once the contracts are uploaded to the NFLPA database, usually a couple days after the signing. Several of these details are now available for the Jets’ new additions.
So, what do those actual contracts look like?
Here’s the breakdown.
Updated salary cap situation
The Jets began free agency with $68,433,082 in salary cap space. They’re down to roughly $17.13 million. This includes the Tevin Coleman, Sheldon Rankins, Carl Lawson, Corey Davis, Jarrad Davis, Justin Hardee, Dan Feeney, Lamarcus Joyner, Tyler Kroft, Vyncint Smith and Josh Adams signings. It does not include the contracts for Keelan Cole or Vinny Curry. We will update this figure once those contracts, and the deals of any additional signings, are acquired.
If the Jets want more money they can easily create it by releasing receiver Jamison Crowder ($10.3 million freed), guards Alex Lewis ($5.1 million) and Greg Van Roten ($3.4 million), along with tight end Ryan Griffin ($1.8 million).
The Jets will need to allocate roughly $12 million to pay their draft class.
Note: All contract details were obtained via league sources unless otherwise noted.
Tevin Coleman, RB
Outside numbers: One year, up to $2 million
Coleman’s contract with the Jets is actually … noticeably insignificant. It’s great value for the team, sure. Just a little surprising a player with his talent agreed to this deal.
Coleman received a $100,000 signing bonus and a base salary of $1 million for 2021. The Jets guaranteed $300,000 of that base, and looped in another $800,000 in performance incentives (rushing and receiving yards). It’s basically a one-year, $1.1 million deal.
The only guarantees are $300,000 of the base salary and the $100,000 signing bonus. So the Jets can cut Coleman at any point this year with just a $400,000 penalty, freeing $700,000.
Sheldon Rankins, defensive tackle
Outside numbers: Two years, $17 million
The Jets gave Rankins a $1.5 million signing bonus and a $2 million roster bonus paid out five days after signing the contract. He has base salaries of $1 million (2021) and $4.5 million (2022). The Jets also included $1 million each year in per-game roster bonuses (a higher number likely because of Rankins’ injury history), and $2 million each season in performance incentives.
His cap hits are as follows:
- $4.75 million (2021)
- $6.25 million (2022)
The Jets guaranteed Rankins’ 2021 base salary, but his 2022 base is only guaranteed if he’s on the roster on the fifth day of the 2022 league year. So, basically, this is just a one-year contract. The Jets can cut Rankins after the season with just a $750,000 dead charge — the remaining proration from his signing bonus.
Basically, it’s a one-year, $5.5 million contract.
Lamarcus Joyner, safety
Outside numbers: One year, $4.5 million
Joyner received a $1 million signing bonus and has a $1.5 million base salary for the 2021 season. The Jets included $500,000 in per-game roster bonuses. His cap hit is $3 million.
The Jets guaranteed Joyner’s base for this year. He can earn another $1.5 million in playing time incentives.
Tyler Kroft, TE
Outside numbers: One year, $2 million
Kroft received a $250,000 signing bonus and has a base salary of $1.25 million for 2021. He has a per-game roster bonus of $500,000, so his cap hit is $2 million.
The Jets guaranteed Kroft’s base salary for this year. He has an additional $1 million tied to performance incentives (yards, receptions).
Carl Lawson, DE
Outside numbers: 3 years, $45 million million, $30 million guaranteed
Douglas’ interesting contract structures continued with Lawson. Included in that massive contract is just a $1 million signing bonus. The Jets also gave him a $7.8 million roster bonus set to be paid out on the fifth day of the league year. Lawson has base salaries of $6.2 million this season, and $15 million in 2022 and 2023.
His cap hits are as follows:
- $14.33 million (2021)
- $15.33 million (2022)
- $15.33 million (2023)
The Jets guaranteed Lawson’s 2021 and 2022 base salaries. The roster bonus is guaranteed as well. The Jets also included $800,000 in sack incentives each year of the contract.
The out in this deal comes after the second season. The Jets can cut Lawson then with just a $333,000 cap penalty, freeing $14.67 million.
Corey Davis, WR
The outside numbers: 3 years, $37.5 million, $27 million guaranteed
Davis’ contract includes a $2 million signing bonus and a $5 million roster bonus set to be paid out on the fifth day of this league year. He has base salaries of $7 million (2021), $13 million (2022) and $10.5 million (2023).
A little background on roster bonuses: Some teams prefer to use them because, while guaranteed like signing bonuses, there is no proration. So when a team gives a player a $10 million signing bonus, the cap hit of the signing bonus is prorated throughout the length of the deal, up to five years. In this hypothetical situation, $2 million each year. This cap hit does not go away, even if the player is cut or traded.
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A roster bonus is paid out on a specific day of a league year and the cap hit of said bonus is paid out entirely in that season. It’s a way for teams to give a player additional guaranteed money without impacting the salary cap situation in future years of the contract. If you have additional questions on this, drop a note in the comment section.
Davis’ cap hits are as follows. You get the cap hits by combining the prorated signing bonus, with the base salary, any roster bonuses and any per-game roster bonuses.
- $12.6 million (2021)
- $13.6 million (2022)
- $11.16 million (2023)
In addition to the signing and roster bonuses, the Jets fully guaranteed Davis’ 2021 and 2022 base salaries. So it’s a guaranteed two-year deal. The first out in Davis’ contract comes after the 2022 season. At that point the Jets would free $9.8 million with a roughly $660,000 dead charge.
Jarrad Davis, LB
Outside numbers: One year, $7 million
The Jets gave Davis a $2.5 million signing bonus. He has a base salary of $3 million for the 2021 season. The Jets guaranteed that base salary, so his cap hit for the upcoming season is $5.5 million.
Davis can earn an extra $1.5 million this season in playing time incentives, driving the maximum value of the contract up to $7 million. It’s really just a one-year, $5.5-million deal, though.
Justin Hardee, DB
Outside numbers: 3 years, $5.25 million, $1 million guaranteed
Hardee did not receive a signing bonus. Instead, the Jets gave him a $750,000 roster bonus set to be paid out on the fifth day of the league year. Hardee has base salaries of $1.35 million (2021), $1.8 million (2022) and $2.1 million (2023), and can earn an extra $250,000 per year based on per-game roster bonuses.
His cap hits are as follows:
- $2.35 million (2021)
- $2.05 million (2022)
- $2.35 million (2023)
Aside from the roster bonus, the only other guarantee in Hardee’s deal is $250,000 of his $1.35 million base salary for 2021. Theoretically, the Jets could cut Hardee at the end of training camp this year with just a $1 million cap hit, freeing $1.35 million.
Dan Feeney, C
Outside numbers: One year, $3.5 million
The Jets gave Feeney a $1.5 million signing bonus and a $1.5 million base salary. Both are fully guaranteed. Feeney has $500,000 tied to per-game roster bonuses, so his cap hit for the 2021 season is $3.5 million. Feeney has another $750,000 in his contract tied to playing-time incentives.
Vyncint Smith, WR
Outside numbers: One year, veteran minimum
Instead of tendering Smith, the Jets re-signed him to a one-year deal with a base salary of $920,000. Smith did not receive a signing bonus, but the Jets did include an $80,000 roster bonus. Smith’s cap hit for 2021 is $955,000. Just $70,000 is guaranteed in Smith’s contract.
Josh Adams, RB
Outside numbers: One year, veteran minimum
The Jets chose not to tender Adams and instead re-signed him on a one-year deal. Adams has a base salary of $1 million and a $60,000 roster bonus. The Jets gave him a signing bonus of $120,000. Adams’ cap hit for 2021 is $1.18 million.
Keelan Cole, WR
Outside numbers: One year, $5.5 million
Cole’s contract with the Jets has not yet been entered. We will update this story once it is.
Vinny Curry, DE
Outside numbers: One year, $2 million
Curry’s contract with the Jets has not yet been entered. We will update this story once it is.
(Photo of Tevin Coleman: Matthew Emmons / USA Today)
