The Kansas City Chiefs have released CB Brandon Flowers from his five year, $48.75 million contract extension that he signed in 2011. Flowers had been scheduled to earn a $250,000 workout bonus, $2 million upon reporting to training camp, and another $5.25 million in base salary for the season. In 2015 he was scheduled to earn the same workout bonus and $6.25 million in base salary. It is possible he earned his 2014 workout bonus but the rest of the money will all disappear from the books. All told the $48.75 million extension turned into a two year deal worth $24 million.
The release leaves the Chiefs with $3 million in dead money in 2014 and another $4 million in dead money in 2015. This dead money comes from the remaining prorations of a $10 million signing bonus paid in 2011 and another $4 million bonus paid just last year for salary cap relief.
The move will create $7.5 million ($7.25 million if the workout was earned) in cap space for Kansas City in 2014 and another $7.5 million in 2015. This is much needed room for the Chiefs who will likely need the space to extend QB Alex Smith and pass rusher Justin Houston, both in the final seasons of their contracts.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.