Analyzing Details of Justin Simmons' Mega-Extension With Broncos

In the wake of the Denver Broncos' massive extension for Justin Simmons, he became the highest-paid safety in the NFL in terms of average-per-year salary. But as with any contract, it's the details that matter more.

ESPN's Field Yates shared the news about Simmons' contract breakdown Sunday morning:

Justin Simmons’ four-year, $61M deal with the Broncos is very straightforward: $15M signing bonus plus salaries of $2M, $15.1M, $14.4M and $14.5M.

He’s played in 2,523 consecutive defensive snaps, longest in the NFL. A great homegrown player.
— Field Yates (@FieldYates) March 21, 2021

Simmons will have a first-year cap charge of $5.75 million, a 2022 cap charge of $18.475M, a 2023 cap charge of $18.15M, and a 2024 cap charge of $18.25M. He will carry big cap numbers from 2022 to 2024, bigger than some might give to a safety, but given his importance to the defense, it's arguably worth it.

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As far as what it would cost to cut him, because Simmons got $35M guaranteed, he's going to be with the Broncos for the next two years, unless he's traded. Cutting him in either 2021 or 2022 results in too much dead money with no cap benefit.

In the first two years of the contract, Simmons will collect $32.1M, meaning there will be $2.9M in guaranteed money due in 2023. Assuming it's fully guaranteed, cutting him in 2023 would mean $10.4M in dead money with $7.75M in cap space freed.

From a practical standpoint, the Broncos will be keeping Simmons through 2023. In 2024, the Broncos can easily get out of the deal, because cutting him would free $14.52M in cap space with $3.75M in dead money.

Will Simmons prove to be worth all that money in the next few years? Only time will tell, but given how well he's played the past two seasons, there's room for optimism that he'll live up to this deal.

Again, it's unusual to commit that much cap space to a safety, but Simmons may be the exception. Now we'll find out how GM George Paton continues to build the defense over the long term.

Right now, among the players still on rookie deals, rush linebacker Bradley Chubb looks like he could be in line for a big contract, but most others might fall into the lower tiers in terms of cap hits.

We'll see how well Paton balances things in the future between the elite players and those who, while not elite, fill their roles on the team well.

Follow Bob on Twitter @BobMorrisSports.

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