March 13, 2024

Saquon Barkley's cap hit is less than $4 million for 2024

A look at the details of Saquon Barkley's contract with the Eagles.

By Shamus Clancy
PhillyVoice Staff

Kevin R. Wexler/USA Today

Saquon Barkley's contract details are par for the course for Eagles details.

The contract details are in for Saquon Barkley's huge deal (for a running back...) with the Eagles. While Barkley has a high average annual value at $15.8 million over the three-year contract, he has a very small cap hit for 2024 at just $3.9 million.

Here's more info on Barkley's contract:

More detail on Saquon Barkley’s 3-year $37.75M contract with the #Eagles:

*$26M fully guarantee
*$11.625 signing bonus
*$1.375M base salary FG ($250K per game roster bonus FG) in 2024
*$11M BS FG ($250K RB FG) in 2025
*$12M BS ($1.5M FG) ($250K RB) in 2026
*$1M RB due 5th day of…
— Jeff McLane (@Jeff_McLane) March 13, 2024

That is strategic on Howie Roseman's part, obviously.

The contract allows for the Eagles to be all in on Super Bowl contention for 2024. Perhaps there is a move to be made for a star safety like Justin Simmons. Maybe there's an out-of-nowhere blockbuster trade. Jalen Hurts' cap hit is at $13.5 million and A.J. Brown's is at $12.4 million this year, too. While this looks great for this specific season, the rent is due eventually. Look no further than last offseason's James Bradberry contract. Praised at the time, it's disastrous now. The Eagles should cut Bradberry given his 2023 performance, but a dead cap hit of $17.2 million makes that difficult. Things change quickly.

It is less rosy when Barkley's cap hit rises to $13.8 million in 2025 and $15,575,000 in 2026, with a dead cap hit of $4,650,000 on the back end in 2027 even if he plays out the three years in full in Philly. That's Roseman's style. It makes sense.

“It’s no different than – and I’m stealing this from Bryce [Johnston], our cap guy, so I’m not taking ownership of it – but it’s no different than when you’re trying to buy a house,” Roseman said at the 2022 owners meetings. “If you have the opportunity to buy a house and put all the cash down or the interest rates are really good and you’re going to pay it over time, why wouldn’t you use that money now and understand that as it goes forward you’re going to be able to do that?

“It’s the same money. If I give somebody $10 and I decide to prorate it, it’s the same $10 that’s going to affect my cap the same way, but if I’m doing it where the value of the cap is not $100 but now it’s $150, why wouldn’t I want to take [the cap hit when the salary cap is higher]?”

Basically, Barkley's larger cap hits will come in future years when the cap is expected to rise, with no interest. This is nothing new. The Eagles structure most contracts this way.

Again, while the number on the cap sheet looks like magic, it's nothing to get excited about nor is it anything to fret about just yet. It's simply how the Eagles handle business.