In this video, FTFN‘s NorbCam takes a closer look at how the Kansas City Chiefs, Cleveland Browns and Tennessee Titans signed big contract extensions to their franchise players, just before the July 15th deadline. The Chiefs locked in DT Chris Jones to a 4 year extension worth $85 million ($37M guaranteed salary, $60M guaranteed in case of injury). An additional $5 million in incentives was also included. The deal breaks down to approximately $21.25M per year. Locking up Jones and Patrick Mahomes was a top priority for the Chiefs this offseason, as they are arguably two of the most important players on the team who were both key to their Super Bowl victory last season.
The Cleveland Browns went all in with pass-rusher, Myles Garrett, with a whopping 5 year, $125 million extension ($100 million in guarantees). The deal averages to $22M/year – the highest contract ever for a defensive player. The record breaking deal guarantees that the Browns’ star pass-rusher will stay in Cleveland through the 2026 season. “In 2017, the Cleveland Browns bet on me,” Garrett said in a statement released through the team. “This city quickly became my home and these people quickly became my family. I’m eternally grateful for this opportunity, the support of my friends and family, the organization, my teammates, the fans — I could go on forever, but even that wouldn’t be enough time to express my gratitude. I’ll just say this: Keep betting on me, Cleveland, because I won’t let you down. Now, let’s get to work.”
The Tennessee Titans rewarded their star running back, Derrick Henry, with a 4-year extension worth $50M, $25.5M fully guaranteed. Henry won the NFL rushing title in 2019 with 1,540 yards and back-to-back 1,000+ yard seasons. His 5.1 yards per carry rate helped lead the Titans to a deep run in the playoffs, only to lose to the Chiefs in the AFC Championship. This deal makes Henry’s the 5th highest paid running back. Despite the high value contract, running backs have been paid progressively less in recent years. In 2011, the Titans signed Chris Johnson to a four-year, $53.5 million contract with $30 million guaranteed.
One team did not reach an agreement by the deadline. The Cowboys and Dak Prescott failed to come to an agreement on a long term extension. Prescott will play the 2020 season under the franchise tag at a cost of $31.409 million. This makes Prescott the 8th highest paid among NFL quarterbacks, but the inability to work out a deal demonstrates the great divide between owner Jerry Jones and Dak Prescott.