Following his selection as the second pick in Round 3 of the 2021 NFL Draft, what is the value of Kellen Mond‘s contract? Let’s take a look at the value of Mond’s NFL contract, his impact on the Minnesota Vikings’ salary cap, and the team’s options with his deal in the future.
Kellen Mond’s contract details and bonuses
The 2011 Collective Bargaining Agreement set the value of all rookie contracts to structured levels, which is how the value of Mond’s deal was assigned based on his 66th overall draft position. The value of the contract was set at a fully guaranteed $5.2 million on a four-year deal.
Mond’s contract specifics include a signing bonus of just over $1.2 million with around $4 million in salary. The signing bonus is the only guaranteed part of the contract.
What impact does Mond’s deal have on the Vikings’ salary cap?
While Mond will receive around $1.8 million in cash as a rookie, but his salary cap number is significantly different.
Mond’s $1.2 million signing bonus will prorate across the four years of his contract at just under $300,000 per year. That $300,000 combines with Mond’s salary for each year to determine his salary cap number.
In 2021, Mond projects to count for around $950,000 on the Vikings’ salary cap. That number rises to around $1.2 million in 2022, $1.4 million in 2023, and $1.7 million in 2024.
What options do the Vikings have with Mond’s contract?
Given that Mond was a third-round selection, the Vikings have some options with his contract. With only the signing bonus guaranteed, the Vikings can release Mond at any time and only be left holding whatever remains on the prorated signing bonus.
If the Vikings decide to move on from Mond during his contract, the prorated signing bonus will accelerate onto their cap. That would happen in the season they released him or split between the next two seasons if done after June 1. If the Vikings cut Mond ahead of 2022, they would have approximately $850,000 in dead money. That would drop to around $580,000 in 2023 and $290,000 in 2024.
When is Mond eligible for an extension?
The Vikings and Mond cannot agree to a contract extension until after Mond’s third year in the NFL. Therefore, if Mond were to replace Kirk Cousins as the Vikings’ starter in the first two years, the Vikings would have an excellent salary cap number for their starting QB.
Mond will be eligible for an extension after the conclusion of the 2023 season. That 2024 offseason will be an intriguing one for Mond and the 2021 NFL Draft class. For first-round picks, the 2024 offseason will see teams having to decide on whether to exercise fifth-year options. That is not something the Vikings will have to consider with Mond due to his third-round draft position.
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Ben Rolfe is a content director at Pro Football Network and is also a member of the Fantasy Sports Writers Association (FSWA). You can find him on Twitter @BenRolfePFN.