The Miami Dolphins got an early start on free agency last week by signing tight end Jonnu Smith to a two-year deal that was reportedly worth up to $10 million.
Now that the full details are in, it turns out that the contract was even team-friendlier than originally thought.
Contract Details for Miami Dolphins TE Jonnu Smith
Smith’s base compensation over the next two years is $8.4 million, with $4 million guaranteed, including a $2.8 million signing bonus, according to a report from KPRC 2 out of Houston.
Smith’s base salaries are as follows: $1.2 million in 2024 (which is guaranteed) and $3.5 million in 2025. The deal also includes a $14,706 per-game active roster bonus this year and a $29,412 per-game active roster bonus in 2025.
Smith does have three void years (2026 to 2028 years), which presumably will help keep his 2024 cap figure down, according to the report.
Assuming KPRC’s details are accurate, Smith’s cap figure this year will be somewhere in the neighborhood of $2 million.
The Dolphins would incur a dead cap hit of roughly the same magnitude if they cut him after the 2024 season.
Smith’s $4.2 million AAV ranks just 24th among NFL tight ends and is barely more than that of new teammate Durham Smythe ($3.9 million).
That’s excellent value for a player who in 2023 ranked 15th among tight ends in receiving yards (582), 19th in catches (50), sixth in yards per catch (11.6), T-15th in touchdowns (3), and third in yards after catch (7.1).
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Smith had 50 catches for 582 yards and three touchdowns for the Atlanta Falcons, who acquired him via trade from the New England Patriots last March.
Smith was a disappointment for the Patriots after signing a four-year, $50 million free agent contract in March 2021. He had just 55 catches for 539 yards and one touchdown in his two seasons with the Patriots, earning $26.8 million from New England during that stretch.
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