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So often when NFL teams restructure the contract of a player, it is done for the purpose of creating cap space by pushing cap hits into the future or by the player taking a pay cut. However, according to Brady Henderson of ESPN, the Seattle Seahawks have reworked the contract of veteran defensive tackle Jarran Reed, and in the process given him a raise, while also making it easier to earn money that had been tied to incentives.
The Seahawks tweaked DT Jarran Reed’s contract, per source. I’ll post the full details after practice, but they essentially took $530K he could’ve made via incentives this year and made it part of the base value. The max value remains the same, and it’s all non-guaranteed.
— Brady Henderson (@BradyHenderson) June 11, 2024
Reed had one year/$4.47M left, plus another $900K available in incentives. That $900K was dropped to $370K. The other $530K is now part of the base value, with his base salary increasing from $3.96M to $3.98M and Seattle adding $510K in per-game bonuses tied to being on the 53.
— Brady Henderson (@BradyHenderson) June 11, 2024
Reed still has his original $510K in per-game bonuses tied to being on the game-day active roster.
— Brady Henderson (@BradyHenderson) June 11, 2024
His original $900K incentive package was tied to sacks and playing time. The $370K is now all tied to sacks. He'd make $185K with eight sacks or more, or $370K with 10 or more.
That’s a whole lot of contract speak, so breaking it down into individual pieces, this is what the change looks like:
- Prior base salary: $3.96M -> New base salary: $3.98M
- Prior prorated signing bonus: $1.5M -> New prorated signing bonus: $1.5M
- Prior per game 47/48 man gameday active roster bonuses: $510k ($30k per game) -> New per game 47/48 man gameday active roster bonuses: $510k ($30k per game)
- Prior per game 53 man roster bonuses: $0 -> New per game 53 man roster bonuses: $510k ($30k per game)
- Prior cap hit: $6.34M -> New cap hit: $6.47M (will be $6.5M if Reed plays in all 17 games).
In short, it appears the team rewarded Reed for just missing the contract incentive he had in 2023 for 8 sacks after he finished the season one short. In addition, instead of playing time incentives, Reed is now eligible for two types of gameday roster bonuses, each worth $30k per game. The first of these he will earn simply for being on the 53 man roster, rather than on injured reserve or the nonfootball injury list, and the second is earned for each game for which he is on the active roster.
Reed was on the 53 man roster for all 17 games during the 2023 season, so his 2024 cap number for this portion of the roster bonuses is $510k. However, only 16 of the possible 17 bonuses for the gameday active roster count against the salary cap, as Reed was inactive due to a knee injury for the Week 18 matchup against the Arizona Cardinals last season. That means that $480k of the possible $510k in per gameday active roster bonuses currently count against the cap, a number that would increase to $510k should Reed suit up for all 17 games. Should he dress for fewer than 16 games or be on the 53 man roster for fewer than 17 games during the season, the team would see that credited back on the 2025 salary cap.
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