Logan Thomas signed a three year, $24.065 million extension with Washington this week. and he received a $7 million signing bonus.
Here are the details of his contract per Over The Cap:
The tight end’s deal has a total value of $27.675m, or $6.92m per year for four years, while the new money extension itself has a value of just over $8m per year.
Unlike Jonathan Allen’s contract, which was also signed this week, Thomas’ deal is structured in such a way that the team could move on from Thomas any time after the 2021 season is done without suffering any real financial disadvantage.
Here are the relevant numbers:
As you can see, if the team cut or traded Thomas at the end of this season, he would end up costing the team $9.395m for those 17 games. If he is cut or traded prior to the start of the ‘23 or ‘24 season, then his cost to Washington would be just about $7m per season played on this contract.
Thomas will have $2.215m of his 2022 base salary guaranteed if he is on the roster on March 20 next year. He has no guaranteed money in 2023, but a roster bonus of $500,000 kicks in if he in still on the team on March 20, 2024.
The contract contains workout bonuses and per-game roster bonuses as well, which are detailed in the chart above.
All in all, this is not an unusual NFL contract, and it pays Logan Thomas a market rate for a veteran tight end.
Team cap position
With the completion of the extensions for Jonathan Allen and Logan Thomas, Washington has $16.3m in available cap space for 2021 per Over The Cap.
OTC has this as the 9th most cap space in the league, and currently projects Washington to remain at that ranking in 2022, though that will change as Washington and other teams make significant roster moves next offseason. Obviously, Washington’s most significant roster challenge next season will be deciding what to do at the quarterback position.
The team has a healthy amount of cap space, but only 6 draft picks in 2022, and questions at the QB position that are likely to be a highlight of next offseason’s discussions.