How Much Money does a top 10 Pick in the NFL Draft Get?

By Jason Bolton January 13, 2024 06:07

The NFL Draft is an annual event where National Football League (NFL) teams select eligible college football players. The order of selection is determined based on the teams' performance in the previous season, with the worst-performing team receiving the first pick. Players selected in the early rounds of the draft, especially the top 10 picks, often receive lucrative contracts. In this article, we will explore how much money a top 10 pick in the NFL Draft can expect to earn.

Draft Pick Compensation

The compensation for NFL draft picks is determined by the NFL's collective bargaining agreement (CBA) with the NFL Players Association. The CBA establishes a rookie wage scale that dictates the maximum amount of money a team can pay its drafted rookies based on their position in the draft.

The Impact of Draft Position

The position a player is drafted in significantly impacts their potential earnings. Players selected in the top 10 picks are generally considered to be the most talented and are therefore expected to command higher salaries compared to those drafted later.

Rookie Contracts for Top 10 Picks

Signing Bonuses: Top 10 picks often receive substantial signing bonuses as part of their rookie contracts. These bonuses are paid upfront and can be quite substantial, especially for players drafted in the top 5.
Guaranteed Money: A significant portion of a top 10 pick's contract is usually guaranteed, providing them with financial security regardless of their on-field performance.
Salary and Option Years: The length of a rookie contract for a top 10 pick is typically four years, with a team option for a fifth year. The salary for these years is predetermined based on the rookie wage scale.

Case Studies of Top 10 Picks

Let's take a look at some examples of contracts received by top 10 picks in recent NFL Drafts to illustrate the potential earnings:

In the 2021 NFL Draft, the top pick, Trevor Lawrence, signed a four-year contract worth over $36 million, including a signing bonus of approximately $24 million with the Jacksonville Jaguars.
In the same draft, the 10th pick, Patrick Surtain II, signed a four-year contract worth over $20 million, including a signing bonus of around $12 million with the Denver Broncos.

Offsetting Language and Contract Negotiations

Teams often include offset language in rookie contracts, which allows them to reduce the guaranteed money owed to a player if they are released and subsequently sign with another team. Negotiating the inclusion or exclusion of offset language can impact the overall value of the contract for a top 10 pick.

Endorsements and Additional Earnings

In addition to their NFL contracts, top 10 picks often have the opportunity to earn significant income through endorsements and sponsorship deals. These off-field earnings can further contribute to their overall wealth.

Financial Planning and Long-Term Security

While the initial contract for a top 10 pick can be lucrative, it's crucial for these young athletes to engage in sound financial planning to ensure long-term security beyond their playing careers.

top 10 picks in the NFL Draft can expect to receive substantial financial compensation in the form of signing bonuses, guaranteed money, and predetermined salaries. The specific amount varies depending on the player's draft position and negotiation leverage. However, it's important for these athletes to manage their earnings wisely and plan for financial security beyond their playing days.