Colts and LB Darius Leonard agree to 5 year contract extension

[nate505]

Originally Posted by Hoopsdoc

Had to be done but damn that’s a lot of money.

Probably won’t be able to keep Okereke.

Not that I know anything about the complex mechanisms of NFL salaries, but isn't the rain the Colts are always so far under the cap is to have the flexibility to sign great players that were drafted here?

[YDFL Commish]

Originally Posted by Oldcolt

Two things that concern me with handing him such a massive contract is his stand on COVID and his history of concussions. The second is just something you deal with in the NFL. The first is his doing completely. I hope it was addressed.

If Darius ever had a concussion I don't remember it. He surely couldn't have had more than one concussion?

[AlwaysSunnyinIndy]

Originally Posted by YDFL Commish

If Darius ever had a concussion I don't remember it. He surely couldn't have had more than one concussion?

He had a pretty severe concussion in his second year with the Colts. He was out 3 weeks because he couldn't clear the concussion protocols. At that time, he indicated in interviews that he previously had concussions from playing football.

https://profootballtalk.nbcsports.co...er-concussion/

Via Jim Ayello of the Indianapolis Star, Leonard said he grew concerned when his “severe” concussion symptoms lingered into a third week, and his first thoughts were not about football.

“The first week, I wasn’t thinking about wife and kids, that stuff,” Leonard said. “I was like OK, ‘I’ve had a concussion before. I’ll get over it.’ Second week, I was like, ‘Ahhh, you know, it’s all right.’ The third week, that’s when I really started thinking, ‘Wait a minute. I got a wife and kid. I’ve had a headache for three weeks now.

“Will I ever be the same? I mean you have those thoughts in the back of your head.”

The headaches stopped last week, but he admitted it was frustrating that brain injuries don’t have a timetable, the way a broken arm or a sprained ankle might. He was also away from his teammates, as he wasn’t able to be at the facility because his symptoms returned when he went outside.

[AlwaysSunnyinIndy]

Originally Posted by Oldcolt

Two things that concern me with handing him such a massive contract is his stand on COVID and his history of concussions. The second is just something you deal with in the NFL. The first is his doing completely. I hope it was addressed.

That was fast....Sportrac already has a lot of the contract details up on their website.

https://www.spotrac.com/nfl/indianap...leonard-25135/

The deal was a 5 year extension so with the last year of his rookie deal, Leonard is under contract for 6 years.

However, it looks like the contract is structured similar to Braden Smith's contract where the Colts could exit the deal early with a minimal dead cap hit.

For instance, you could view this contract as a 2 year, $43.1MM extension with the Colts exiting after the 2023 season. The only dead cap hit would be the prorated portion of the signing bonus ($8MM).

[Chaka]

Originally Posted by AlwaysSunnyinIndy

That was fast....Sportrac already has a lot of the contract details up on their website.

https://www.spotrac.com/nfl/indianap...leonard-25135/

The deal was a 5 year extension so with the last year of his rookie deal, Leonard is under contract for 6 years.

However, it looks like the contract is structured similar to Braden Smith's contract where the Colts could exit the deal early with a minimal dead cap hit.

For instance, you could view this contract as a 2 year, $43.1MM extension with the Colts exiting after the 2023 season. The only dead cap hit would be the prorated portion of the signing bonus ($8MM).

Exactly, it’s basically a 2-year extension for a guaranteed $42.3 million (my calculations are slightly different than yours, as I think he was already scheduled to make $4.2M for the colts this year), locking him to the Colts for his age 26, 27 and 28 seasons.

After that, the Colts have no further obligations to him (apart from a $6.4M injury guarantee for 2024), and will have the option (but not the obligation) of keeping him around at the following cost each of the remaining years:

Age 29 (2024) - $16.1M
Age 30 (2025) - $19.6M
Age 31 (2026) - $19.7M

Contrast this with the recent “5 year, $95M” contract signed by Fred Warner of the 49ers, and you’ll see that Leonard’s contract is indeed probably more expensive, but is not altogether clear due to the different structures used by the teams.

https://www.spotrac.com/nfl/san-fran...-warner-25169/

Warner’s is a bit more complicated than Leonard’s but basically boils down to a 2-year, $41.1M extension (though $12M of this won’t become fully guaranteed until April of 2023, but I’d still consider it essentially guaranteed because the team would have to take a $20M+ cap hit if they cut him before that).

The 49ers did more financial engineering than the Colts did to push more of the cap impact down the road. In addition to the $12.3M signing bonus (which is prorated across the contract term), they also employed a $12.6M option bonus (which is also prorated for cap purposes). This has the impact of making Warner’s contract have a smaller cap impact in the early years (you’ll see its less than Leonard’s over the first few years), but is larger later (and a bigger impact if cut). After 2023, the 49ers can keep Warner around for the following real world amounts:

Age 28 (2024) - $15.9M
Age 29 (2025) - $18.3M
Age 30 (2026) - $18.3M

Warner’s agent also negotiated a $3.6M payment if the 49ers seek to void the 2025 and 2026 years, which will help discourage the 49ers from cutting Warner.

On balance, I'd say that Leonard's contract is more lucrative in the near term, but that Warner has a better chance of seeing the end of his contract.

[AlwaysSunnyinIndy]

Originally Posted by Chaka

my calculations are slightly different than yours, as I think he was already scheduled to make $4.2M for the colts this year

The difference between our numbers is the prorated portion of the signing bonus from his rookie contract which was paid out in 2018. His base salary for this year was (and remains) $3.384MM. The $20MM signing bonus from this extension will up his cash earnings this year to $23.384MM.

[Racehorse]

Originally Posted by Chaka

Exactly, it’s basically a 2-year extension for a guaranteed $42.3 million (my calculations are slightly different than yours, as I think he was already scheduled to make $4.2M for the colts this year), locking him to the Colts for his age 26, 27 and 28 seasons.

After that, the Colts have no further obligations to him (apart from a $6.4M injury guarantee for 2024), and will have the option (but not the obligation) of keeping him around at the following cost each of the remaining years:

Age 29 (2024) - $16.1M
Age 30 (2025) - $19.6M
Age 31 (2026) - $19.7M

Contrast this with the recent “5 year, $95M” contract signed by Fred Warner of the 49ers, and you’ll see that Leonard’s contract is indeed probably more expensive, but is not altogether clear due to the different structures used by the teams.

https://www.spotrac.com/nfl/san-fran...-warner-25169/

Warner’s is a bit more complicated than Leonard’s but basically boils down to a 2-year, $41.1M extension (though $12M of this won’t become fully guaranteed until April of 2023, but I’d still consider it essentially guaranteed because the team would have to take a $20M+ cap hit if they cut him before that).

The 49ers did more financial engineering than the Colts did to push more of the cap impact down the road. In addition to the $12.3M signing bonus (which is prorated across the contract term), they also employed a $12.6M option bonus (which is also prorated for cap purposes). This has the impact of making Warner’s contract have a smaller cap impact in the early years (you’ll see its less than Leonard’s over the first few years), but is larger later (and a bigger impact if cut). After 2023, the 49ers can keep Warner around for the following real world amounts:

Age 28 (2024) - $15.9M
Age 29 (2025) - $18.3M
Age 30 (2026) - $18.3M

Warner’s agent also negotiated a $3.6M payment if the 49ers seek to void the 2025 and 2026 years, which will help discourage the 49ers from cutting Warner.

On balance, I'd say that Leonard's contract is more lucrative in the near term, but that Warner has a better chance of seeing the end of his contract.

At that low of a cap hit at the end of the contract, Leonard will likely see it through the end.

[omahacolt]

Originally Posted by TheMugwump

Why do ESPN and other outlets keep calling him an Inside Linebacker? He's an off-ball LB, sure, but he's not on ILB.

i don't know why they changed how the call 4-3 backers but it annoys me. just like when people call a de an edge

[Chaka]

Originally Posted by AlwaysSunnyinIndy

The difference between our numbers is the prorated portion of the signing bonus from his rookie contract which was paid out in 2018. His base salary for this year was (and remains) $3.384MM. The $20MM signing bonus from this extension will up his cash earnings this year to $23.384MM.

You are correct - I had assumed the rookie bonus proration was included in the calculations, but I looked at it again and I was mistaken.

[Chaka]

Originally Posted by Racehorse

At that low of a cap hit at the end of the contract, Leonard will likely see it through the end.

That's certainly possible. My concern, aside for the ever-present possibility of injury, is Leonard's age. He's almost a year-and-a-half older than Warner, and he'll be 31 in the final year of the contract, which is traditionally (but admittedly not necessarily) on the downside of a LB's career.

Plus Warner's contract has stronger built-in "poison pills' to discourage his release - the $3.6 million voiding penalty and the higher cap hit.