Ezekiel Elliott's Contract Breakdown: Understanding the Financial Aspects of the NFL Running Back's Deal
Ezekiel Elliott's Contract Breakdown: Understanding t...
By Fan Arch August 16, 2024 23:39
Ezekiel Elliott, a cornerstone in the Dallas Cowboys offensive mix, also has his series of checkered waters with varied turns as he will be sporting another new deal for America's team into the 2024 season. So, this article breaks down the financial details of Mr. Elliott's contract, looking at terms and structure and what these numbers mean for both player and team downstream.
Summary of the Terms of the Agreement
The Dallas Cowboys signed star running back Ezekiel Elliott to a one-year, $3 million deal. Elliott signed the deal after returning to Dallas this season following a one-year stint with the New England Patriots.
- Total Value: $3 million
- Length: 1 year
- Sure Money: $1.625 million (including signing bonus, base salary)
- Base Salary: $1.25M fully guaranteed
- Signing Bonus: $375k (fully guaranteed)
- Cap Number: $2 million
Contract Architecture
The deal for Elliott has been easy for the Cowboys to stomach financially. He can make more money with chances still there as a running back via playing time production incentives. The contract structure breaks down as follows:
Base Salary
Amount: $1.25 million
Type: Full guarantee, meaning Elliott will get this money no matter what if he remains on the roster for a full season.
Roster Bonuses
Active Roster Bonus: $375,000 face value will earn the bonus if she is on the active roster all season.
Incentives
While Elliott's contract is worth $5.9 million with performance-based incentives that can boost his earnings as high as:
- $250,000 (1,100 Scrimmage Yards + Playoffs)
- 10 Touchdowns + Playoff: $2,500
- 51% of Playtime + Playoffs: $500,000
The intent of the incentives, as is typically the case in these situations, would be to provide further incentives for Elliott to continue performing at a high level and having significant team success.
Key Differences
Deal Length: Elliott won't have the months of leverage bigger-name running backs might want but can surrender more time than other top players in the same position.
Value of Funds Assured: A considerably lesser amount as a guarantee depicts the wavering level of faith in Zeke's performance at an elite level for his team by that point.
Other Similar Incentives to Perform: Elliot is no different than any other player in having incentives for performance, but his matter is more this year based on the low base salary.
Financial consequences of the agreement
For Ezekiel Elliott
Elliott's new deal is a massive pay cut from the $4 million per year he earned over his last contract, representing age-related regression and diminishing returns due to injury. He has earned $74.27 million over his career. Still, the incentive-heavy nature of this contract is a sign that he needs to show on-field performance to keep getting paid into next season.
For the Dallas Cowboys
According to the Cowboys, Elliott does political envoy in little busy work cash managing by getting his arrangement of augmentation before what could shake out to be a wrecked daydreamer regular style squeezing cap house. But with about $6.3 million in cap space, the team can still fit a veteran back on the scale for additional roster moves it wants to make elsewhere. The two million dollar cap hit means that the Cowboys can apply other money to different positions, especially as they negotiate with a difficult salary cap moving forward.
NFL Salary Cap Considerations
Elliott's deal (not yet in place) is supposed to define the RB market, just like all these predecessors. Teams have never passed more, and aged running backs are now the bank tellers of their transactions. We see this transition in the contract structure from teams regularly opting for shorter deals than long-term assurances with big-time guarantees.
What To Look For In Future Contracts
This, however, is a contract that should loom significantly larger in the rearview mirror for Elliott and whatever team employs him next. If he plays well, it would also set him up for a better contract in the future, one that pays a higher base salary. But should he have any trouble recapturing that form, the Cowboys could consider moves with younger running backs or free agents.
Team Strategy Moving Forward
Elliott remains under contract, though having his money spread over seven years allows the Cowboys to re-evaluate him without a long-term deal. These are the slivers of flexibility that any NBA front office seeks as they look at their needs and what might come on to market this or for future drafts. Thus, this roster-building strategy is not dissimilar to how the team goes about their contracts with Elliott but applies league-wide in general as Dallas tries to wield some influence.
Elliott is moving to the next chapter of his career with critical decisions for him and Dallas hanging in the balance. He explained his contract situation and revealed how the NFL business works with running backs in today's game.
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