At a potential value of $137.5 million, Jimmy Garoppolo's new five-year deal with the San Francisco 49ers is the largest contract in NFL history – at least until free agency hits. On Friday, Adam Schefter of ESPN reported the details of the contract and the impact on the 49ers' 2018 salary cap, which was expected to be over $100 million.
Garoppolo's deal includes a signing bonus of $7 million and a guaranteed roster bonus of $28 million in 2018. $74.1 million becomes guaranteed in case of injury.
2018: $42.6 million
Guaranteed roster bonus: $28 million
Base salary: $6.2 million (guaranteed)
Workout bonus: $600,000
Per-game roster bonus: $800,000
Note: The deal will eat up $37 million of cap space in 2018, as reported by Field Yates of ESPN.
2019: $18.6 million
Base salary: $17.2 million ($7.5 million guaranteed)
Workout bonus: $600,000
Per-game roster bonus: $800,000
Note: For 2019, Garoppolo will make $18.6 million for a two-year total of $61.2 million.
2020: $25.2 million
Base salary: $23.8 million ($15.7 million guaranteed)
Workout bonus: $600,000
Per-game roster bonus: $800,000
Note: At end of three seasons, he walks away with $86.4 million.
2021: $25.5 million
Base salary: $24.1 million
Workout bonus: $600,000
Per-game roster bonus: $800,000
Note: If he makes it to NFC Championship game or is first- or second-team All-Pro, then a $7.5 million injury guarantee kicks in.
2022: $25.6 million
Base salary: $24.2 million
Workout bonus: $600,000
Per-game roster bonus: $800,000
2018-22: $137.5 million
On Thursday, Schefter reported that Garoppolo's deal will include the largest three-year cash total for a new contract in NFL history at nearly $90 million. While his 2018 cap hit is a lot of money to devote to one player, it will still allow the 49ers to address other needs in free agency.
San Francisco went into the offseason with a hefty salary cap surplus mostly due to draft blunders by the previous regime. Draft picks are inexpensive during their first four NFL years. It's their second contracts that eat into salary cap space. The 49ers' inability to draft well is paying off now because the team had not handed out too many second contracts and instead cleaned house following the hires of head coach Kyle Shanahan and general manager John Lynch.