The Eagles last week agreed to a three-year deal with Haason Reddick that’s worth $45 million. Now, we have all the details.
Reddick’s $15 million-per-season deal also includes $30 million fully guaranteed, a signing bonus of $13,715,000 and an option bonus of $13,670,000, according to a league source. The Eagles structured this deal in a way to limit their cap hit in 2022. Reddick’s cap hit for this upcoming season is just $4.028 million.
Here are his cap hits in the three years of the contract and what will be left when it’s over:
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2022: $4,028,000
2023: $6,807,000
2024: $20,477,000
2025: $13,688,000 in dead money
NFL
The Eagles limited his base salaries in the first two seasons by giving Reddick most of his money in a signing bonus and an option bonus he’ll get next year. These bonuses spread out the cap hit because they prorate over the length of the contract, while base salaries count against the cap in that current season. There are three years on this contract (2025-27) that will void automatically on this deal for cap purposes. This is a mechanism the Eagles have used a lot in recent years.
When those years void, the remaining prorated amounts on the contract escalate, leaving a dead cap figure in 2025.
Here’s a breakdown year-by-year:
2022
Base salary: $1,035,000
Workout bonus: $250,000
Prorated money: $2,743,000
Cap hit: $4,028,000
2023
Base salary: $1,080,000
Workout bonus: $250,000
Option bonus: $13,670,000 (Must be exercised between start of training camp and start of season)
Prorated money: $5,477,000
Cap hit: $6,807,000
2024
Base salary: $13,750,000
Workout bonus: $250,000
Roster bonus: $1 million (due on 3rd day of 2024 league year)
Prorated money: $5,477,000
Cap hit: $20,477,000
2025-2027
Void years
2025: Prorated money: $5,477,000; 2026: Prorated money: $5,477,000; 2027: Prorated money: $2,734,000.
Dead money in 2025: $13,688,000
That option bonus in 2023 is to tack on the extra voidable year (2027) on the contract. The Eagles will pick that up because if they don’t, it would add the same amount of money to Reddick’s base salary, which means that money can’t be spread out over the length of the contract.
In addition, this deal also includes up to $1.5 million in escalators in 2023 and 2024 if Reddick hits Pro Bowl, All-Pro or sack targets.
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