USATSI_20602145 — Jayden Reed (USA Today Sports Images)

Packers Rookies Musgrave, Reed Remain Unsigned; Here’s Why

Tight end Luke Musgrave and receiver Jayden Reed are among a big group of second-round picks who have not signed.

Author:
Bill Huber
Publish date:
Jun 25, 2023 9:10 PM EDT

In this story:

GREEN BAY, Wis. – Including Lukas Van Ness of the Green Bay Packers, nine first-round picks from the 2023 NFL Draft remain unsigned.

The bigger story is the second round, with 14 picks unsigned as of Sunday night. That’s almost half the round, and almost as many as the other six rounds (17 unsigned) combined. Green Bay’s two second-round picks, tight end Luke Musgrave and receiver Jayden Reed, have not agreed to terms.

In theory, all the picks should be signed with the wave of a magic wand. Thanks to the collective bargaining agreement agreed to in 2011, the main financials are set in stone.

According to Spotrac, Musgrave as the 42nd pick of the draft should sign a four-year contract worth $8,475,732 and including a signing bonus of $3,164,169. Reed, the 50th pick of the draft, should sign a four-year deal worth $7,180,777 and including a signing bonus of $2,222,383.

What is up for negotiation are salary guarantees.

While veterans rarely receive any guaranteed money as part of their base salary, rookies oddly get more and more guaranteed money every year.

“It’s understanding the economic progress in the league with the growth in the salary cap,” explained a source not affiliated with the Packers or the unsigned draft picks. “We’ve seen a natural progression over time and contracts getting more fully guaranteed. Certainly, players and agents and the NFLPA want contracts fully guaranteed. Understandably, teams don’t want to make that commitment.”

Last year, Green Bay’s Christian Watson, the 34th overall selection and the second pick of the second round, signed just before the start of training camp. He had his full base salaries guaranteed in 2022, 2023 and 2024 along with a portion of his base salary in 2025.

Every year, the percentage of the base salaries that are guaranteed inches further into the round. And that’s where there’s actual negotiation between agents and executives like Green Bay’s Russ Ball.

The precedent is the 42nd pick of the 2023 draft will get more of his base salaries guaranteed than the 42nd pick in 2022. The question is how much, with teams understanding that precedent but also wanting to hold the line as much as possible given the unproven nature of rookies.

The source saw no reason why any player should be unsigned at the start of training camp. Camps don’t start for about a month – the first practice for the Packers is scheduled for July 26 – so there’s no great urgency to get deals done.

In the case of Musgrave and Reed, signings potentially could come sooner than later. Because the players selected immediately before them have signed, a framework has been established.

Taken one pick ahead of Musgrave at No. 41, Arizona Cardinals edge rusher B.J. Ojulari’s four-year contract includes fully guaranteed base salaries in 2023 and 2024 and $1.072 million of his 2025 base salary of $1.532 million.

Taken one pick ahead of Reed at No. 49, Pittsburgh Steelers defensive lineman Keeanu Benton’s four-year contract includes fully guaranteed base salaries in 2023 and 2024 and about $113,000 of his 2025 base salary of $1.417 million.

Showing the trickle-down of guaranteed money, last year’s 49th pick, Saints cornerback Alontae Taylor, didn’t have a penny of his Year 3 base salary guaranteed. So, Benton’s deal moved the needle considerably.

That will impact Reed’s contract since last year’s 50th pick, Patriots receiver Tyquan Thornton, didn’t have any of his Year 3 base salary guaranteed, either. But, since Benton got a fairly substantial chunk of change guaranteed in his Year 3, chances are Reed will, too.

For first-round picks like Van Ness, every penny of their contract is guaranteed. He will receive almost $17.4 million over four years, including a $9.646 million signing bonus.