Yesterday Titans DE/LB Kamerion Wimbley agreed to a massive paycut to remain a member of the Tennessee Titans. Wimbley, scheduled to earn $6 million in 2014, slashed his 2014 salary to $3 million and in return received $1.25 million in guarantees, paid out as a $500,000 roster bonus and $750,000 base salary guarantee. Wimbley is also eligible for a $250,000 offseason workout bonus so realistically the guarantee on the contract is $1.5 million.
In 2015 Wimbley can now earn $2.75 million, $900,000 of which is a roster bonus. This represents a reduction in salary of $3.75 million. In 2016 Wimbley can earn $3.25 million, down from his original $7 million total.
In summary Wimbley’s new deal is for $9 million which is a $10.5 million salary cut from his original contract. Because no signing bonus was paid Wimbley’s potential dead money charges remain the same. In 2015 his cap figure will be $950,000 higher than the cost of cutting him, which is probably enough to not make him safe in 2015 unless his performance improves.
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.