After being selected first overall in the 2021 NFL Draft, what is the value of Trevor Lawrence‘s contract, and how does it impact the Jacksonville Jaguars’ salary cap? Let’s take a look at the contract, the implications, and the Jaguars’ options in the future.
Trevor Lawrence’s contract details and bonuses
As with all rookie contracts since the 2011 Collective Bargaining Agreement, the value of Lawrence’s deal was assigned based on his draft position at first overall. The contract’s total value was set at a fully guaranteed $36.8 million on a four-year deal with a fifth-year team option. The fifth-year option is not accounted for in the $36.8 million. Instead, it’s based on Lawrence’s performances in his first three years in the league.
The specifics of Lawrence’s contract include a signing bonus of just over $24.1 million with around $12.7 million split between roster bonuses and salary. All of that money is guaranteed, assuming Lawrence does nothing that would warrant the contract being made void.
What impact does Lawrence’s deal have on the Jaguars’ salary cap?
While Lawrence will receive just under $25 million in cash as a rookie, his salary cap number is significantly different.
Lawrence’s $24.1 million signing bonus will prorate across the four years of his contract at just over $6 million per year. That $6 million combines with Lawrence’s salary and roster bonus for each year to determine his salary cap number.
In 2021, Lawrence is projected to count for slightly under $6.7 million in salary-cap space. That number rises to approximately $8.4 million in 2022, $10 million in 2023, and $11.7 million in 2024.
What options do the Jaguars have with Lawrence’s contract?
The rookie contract structure somewhat limits the Jaguars’ options with Lawrence. First, as mentioned above, the contract is fully guaranteed. Therefore, even if the Jaguars want to release Lawrence, they will not save any part of the $36.8 million.
The only exception would be if Lawrence were to violate the team or league code of conduct. If that were to occur, the team could void the remaining guaranteed money and reclaim some of the signing bonuses.
Were the Jaguars to decide to move on from Lawrence during his contract, the prorated signing bonus would accelerate onto their cap. That would happen in the season they released him or split between the next two seasons if done after June 1.
If the Jaguars cut Lawrence ahead of 2022, they would have approximately $21 million in dead money. That would drop to around $14 million in 2023 and $7 million in 2024.
When is Lawrence eligible for an extension?
The Jaguars and Lawrence cannot agree to a contract extension until after Lawrence’s third year in the NFL. Therefore, Lawrence will be eligible for an extension after the conclusion of the 2023 season. That 2024 offseason will be an intriguing one for Lawrence and the 2021 NFL Draft class. Additionally, this is the time that the Jaguars will have to decide on whether to exercise Lawrence’s fifth-year option or not.
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Ben Rolfe is a content director at Pro Football Network and is also a member of the Fantasy Sports Writers Association (FSWA). You can find him on Twitter @BenRolfePFN.