DE Jordan Phillips' Cardinals Contract Includes $18.5 Million in Guarantees
The numbers are in for the contract defensive end Jordan Phillips signed with the Arizona Cardinals, and it turns out the initial report of it being a three-year, $30 million deal is not absolutely accurate.
The total value of the contract as it is written is for $40 million over four years, but the final year’s salary in 2023 of $10 million will void if Phillips is on the roster on the fifth day after the 2022 season Super Bowl.
He actually will make $10 million in each year of the deal. The base salaries are $10 million each year except for 2020 when the salary is $2 million to go with an $8 million signing bonus. The void year allows the Cardinals to prorate his signing bonus over an extra year and keep the salary-cap charge lower this year, just as the team did with the deal for linebacker De’Vondre Campbell. In that one, there were four voidable years after 2020.
For Phillips, there is $2 million in bonus proration in each year, making his cap hit this year $4 million (salary plus bonus proration). If it was a straight three-year contract with the same figures, the cap charge this year would be $4.67 million.
As for guaranteed money, there is another $10.5 million over and above the signing bonus. Phillips’ $2 million salary this year is guaranteed. For 2021, $8.5 million of his base salary is guaranteed for injury only at the time of signing, $4.5 million is guaranteed for skill and cap at signing and an additional $4 million becomes guaranteed for skill and cap if he is on the roster on the fifth day of the 2021 league year.
If the Cardinals decided to release him prior to then, they would have $10.5 million in dead money against the cap in 2021.