GREEN BAY, Wis. -- Jimmy Graham will have to make a significant impact on the Green Bay Packers this season. Otherwise there’s a good chance the three-year, $30 million contract he signed last week could easily be turned into a one-year deal.
Graham agreed to a $5 million roster bonus due on the third day of the league year next March. That means the Packers could decline the bonus and make Graham a free agent again.
That’s a sizable roster bonus for a player who will turn 32 in November, and it gives the Packers an easy out if they want to move on after a year.
If that’s the case, it would turn into a one-year, $13 million deal for the veteran tight end. He received an $11 million signing bonus and will make $2 million in salary and bonuses this season.
If the Packers moved on after one year, they would have to absorb the remaining two-thirds of the signing bonus proration ($7.333 million) on their cap in 2019 -- or it could be split between 2019 and 2020 if they chose. However, they would wipe away the remaining $17 million from their future caps, so there would be a net cap savings of nearly $10 million.
Graham was one of two free agents the Packers signed last week. Contract details of the other, defensive end Muhammad Wilkerson, were not yet available.
Here’s a breakdown of Graham’s deal:
2018
Cash value: $13 million
Salary-cap charge: $5,666,667
Signing bonus: $11 million
Base salary: $1.45 million
Per-game roster bonus: Up to $300,000 ($18,175 per game active)
Workout bonus: $250,000
Incentives: $250,000 for the Pro Bowl
2019
Cash value: $9 million
Salary-cap charge: $12,666,667
Base salary: $3.45 million
Roster bonus: $5 million (due the third day of the league year)
Per-game roster bonus: Up to $300,000 ($18,175 per game active)
Workout bonus: $250,000
Incentives: $250,000 for the Pro Bowl
2020
Cash value: $8 million
Salary-cap charge: $11,666,667
Base salary: $7.45 million
Per-game roster bonus: Up to $300,000 ($18,175 per game active)
Workout bonus: $250,000
Incentives: $250,000 for the Pro Bowl