After six years with the Philadelphia Eagles, what does Jake Elliott’s contract look like? How much longer is Elliott’s contract set to run for, what are his salary cap numbers, and what are the Eagles’ options if they consider moving on?
Jake Elliott’s Contract Details
Elliott’s contract with the Eagles is a five-year deal worth $19.308 million. He received $5.655 million fully guaranteed at signing and $10.155 in total guarantees. Those guarantees finished in 2022, so there is no further guaranteed money left on the deal heading into 2023.
Interestingly, the original deal did not contain a signing bonus. However, there was a $3.87 million option bonus in 2020 that, in essence, acted as a deferred signing bonus. Additionally, before the 2022 season, Elliott received $2.715 million in a signing bonus when he restructured his deal to clear over $2 million in cap space for the Eagles.
Elliott is under contract for another two seasons and could be a free agent in 2025 when his contract voids that offseason. In 2023, Elliott is currently set to count for $5.874 million against the salary cap — the second-highest cap number for a kicker as of Feb. 7. That cap number is made up as follows:
- Salary: $3.995 million
- Roster Bonus: $200,000
Due (3/19/2023) - Workout Bonus: $50,000
- Option Bonus (Prorated): $774,000
- Restructure (Prorated): $855,000
- 2023 Cap Number: $5.874 million
If the Eagles were to consider moving on from Elliott this offseason, which seems unlikely, it would cost them $4.656 million in dead money. That would represent savings of just $1.218 million. The Eagles could designate Elliott as a post-June 1 release, which would leave $1.629 million in 2023 and savings of $4.245 million against the cap. That would then defer $3.027 million in dead money in 2024.
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Additionally, the Eagles could consider restructuring Elliott’s deal again. His $3.995 million base salary could be reduced to as low as $1.08 million, converting the remaining $2.915 million into a signing bonus. Elliott’s contract already has two void years in it. Therefore, the Eagles could spread that cap number across those four years at $728,750 per year. That would reduce Elliott’s 2023 cap number to $3.688 million.
If the Eagles added a fifth void year, that could reduce the cap number as far as $3.543 million. However, that would increase the dead money number that the Eagles would be left with if the contract voids in 2025 to just below $3 million.
Elliott’s Net Worth
Elliott’s net worth is projected to be around $4-5 million, depending on where you look. The majority of that stems from Elliott’s career earnings. To this point, Elliott has earned $14.224 million, which could rise as high as $22.169 million if he sees through the remaining two years of his contract.
