Following his trade from the New York Giants to the Kansas City Chiefs, what is left on Kadarus Toney’s contract heading into 2023? Let’s examine the full terms of Toney’s rookie contract, his 2023 salary cap number, and the Chiefs’ options with him.
Kadarius Toney’s Contract Details
Toney’s contract is a four-year, $13.720 million deal that is fully guaranteed. His average annual salary is $3.43 million, and the contract contained a $7.338 million signing bonus. In 2023, Toney’s contract is set to count for $1.907 million against the Chiefs’ salary cap, with the same amount in base salary.
Having been selected 20th overall in the 2021 NFL Draft, Toney’s contract value with the Giants was set according to the 2020 Collective Bargaining Agreement. The overall value of the deal was $13.72 million, with just over half of that given as a signing bonus.
When Toney was traded, the remaining prorated signing bonus remained with New York. That bonus was prorated at $1.834 million a year. Upon the trade happening, the Giants retained the $1.834 million proration for 2022, and the remaining proration will impact New York’s salary cap as dead money in 2023 ($3.669 million). Additionally, the Giants held $499,183 in salary on their 2022 cap, as Toney had been on the roster for seven weeks.
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Therefore, heading into the 2023 season, Toney’s contract is relatively cheap for the Chiefs. As mentioned, Toney is set to count just $1.907 million against the cap this year — which ranks 80th at the WR position — instead of a salary cap number in excess of $3.7 million. Toney’s cap number is all paid as base salary.
The Chiefs have a number of potential decisions with Toney across the remainder of his contract. Firstly, if they trade him at any point, Kansas City would not have any dead money unless they restructure his deal, which seems unlikely. However, if they release Toney, the Chiefs would have his remaining salary for 2023 and 2024 as dead money ($4.438 million), either split between the two years or on the 2023 cap.
Next offseason, Toney will be eligible for an extension, and Kansas City will have the opportunity to pick up his fifth-year option. The value is yet to be determined, but unless he receives a Pro Bowl selection in 2023, it’s likely Toney’s fifth-year option will be priced at around $13-15 million. If Kansas City picks that up, the money will be fully guaranteed.
Toney’s Net Worth
Toney’s net worth is currently estimated to be $1.5 million. Through his first two seasons, Toney’s NFL career earnings are $9.281 million. Regardless of what happens in terms of playing over the next couple of years, Toney is set to have career earnings of $13.72 million.