What Will the Draft Cost Seattle From a Cap Perspective?
So what is the true cost of the NFL draft picks? Is it just over $6M as some are reporting?
Let’s look at each pick, the signing bonus, the year 1 prorated amount of the signing bonus and the 2018 cap hit of each selection -
I’ve included the 2018 portion of the signing bonus as that will be the cap charge if the player does not make the roster (assuming they’re cut after June 1st which is highly likely). The remainder of the signing bonus will come off the 2019 cap.
Round 1/18 Signing bonus $6,874,608 Year 1 signing bonus - $1,718,652 2018 Cap hit - $2,198,652
Round 4/120 Singing bonus $653,164 Year 1 signing bonus $163,291 2018 Cap hit - $643,291
Round 5/141 Signing bonus $319,036 Year 1 signing bonus $79,759 2018 cap hit - $559,759
Round 5/146 Signing bonus $300,056 Year 1 signing bonus $75,014 2018 cap hit - $555,014
Round 5/156 Signing bonus $283,056 Year 1 signing bonus $70,764 2018 cap hit - $550,764
Round 5/168 Signing bonus $246,092 Year 1 signing bonus $61,523 2018 cap hit -$541,523
Round 7/226 Signing bonus $94,400 Year 1 signing bonus $23,600 2018 cap hit - $503,600
Round 7/248 Signing bonus $71,268 Year 1 signing bonus $17,817 2018 cap hit - $497,817
It’s important to remember that while only the top 51 contracts count towards the cap in the offseason, once the season starts it’s all 53 contracts. This is why I’ve taken the bottom 6 off below but added 8 draft picks.
Bottom 6 contracts of 51 - $3,705,000
So that $3,705,000 will come OFF the cap
$6,050,420 would be added to the cap
Net difference of $2,345,420 so that’s the true cost of the draft regarding the cap
Obviously it won’t work exactly like that as, for example, Chris Carson would be one of those 6 that are taken off. In reality, the true cost will likely be lower than the $2,345,420 quoted but it’s impossible to predict who will and won’t make the roster. That also assumes all 8 drafted players make the roster, which is pretty unlikely.
The numbers above are exact however not how it will actually work when it’s all said and done, as explained above. It will almost certainly not be just the lowest 6 contracts coming off to make way for the rookies, it could well be more expensive vets which in turn would make the true cost of the draft even lower.
But at least the above gives you an outline to work from.