A breakdown of the contract adjusted for #Packers OLB Preston Smith, who is now in Britain:
– $ 8 million salary ($ 200,000 training bonus, $ 300,000 on 46 men, $ 6.5 million signing bonus, $ 1 million base).
– $ 4.4 million available in withdrawal incentives, so he can eclipse the $ 12 million he was set to win before redoing.– Ian Rapoport (@RapSheet) March 13, 2021
Green Bay Packers and linebacker Preston Smith agreed to an amendment to the contract that includes a major salary cut this year, but also many incentives.
According to Ian Rapoport of the NFL Network, Smith will earn $ 8 million in salary in 2021, including a $ 6.5 million signing bonus, and another $ 4.4 million is available to be earned through the total of handbags.
The restructured deal substantially reduces the ceiling reached by Smith, who was originally scheduled to be $ 16 million in 2021.
Based on the details of the contract, Ken Ingalls estimates that the limit reached by Smith will be $ 8.75 million, releasing $ 7.25 million from the team’s limit.
New contract details for the rest of the Preston Smiths business, assuming that no new nullity years have been added and your 2022 contract has remained untouched:
2021 Cap: $ 8,750,000
2022 Cap: $ 19,750,000 pic.twitter.com/xityBSzx60– Ken Ingalls – Packers Cap 💰 (@KenIngalls) March 13, 2021
Smith was supposed to earn $ 12 million this year from his old deal, so the new structure helps the Packers’ salary cap situation now and offers Smith the chance to make more money this season.
The Packers are hoping that Smith can deliver a season of recovery after fighting for a disappointing year in 2020.
Rapoport reports that Smith can earn a total of $ 4.4 million in incentives by accumulating 14 bags next season. Incentives start at six bags. He only had four sacks last season, but he also produced a record 12 sacks in 2019, his first season in Green Bay.
Details of bag incentives for Preston Smith:
– $ 500K for 6 bags.
– $ 750K more for 8 bags.
– $ 750K more for 10 bags.
– $ 1.2 million more for 12 bags.
– $ 1.2 million more for 14 bags.
Possible total: $ 4.4MSmith had 12 bags in 2019, so it’s there. Either way, Preston Smith stays. https://t.co/wGVZafc1We
– Ian Rapoport (@RapSheet) March 13, 2021
Last month, Packers general manager Brian Gutekunst said he expected Smith back in 2021, setting the stage for a restructuring or extension.
The Packers arrived on Friday with about $ 9.7 million above the 2021 salary cap. Restructuring arrangements for Smith and security Adrian Amos released $ 8 million from the cap.