The Los Angeles Rams agreed to a four-year deal with Leonard Floyd on the first day of the NFL’s legal tampering period on Monday, giving their stud pass rusher $64 million to stay in Southern California. Floyd had other suitors with strong interest in him, including the Broncos and Giants, but he opted to re-sign with the Rams and continue playing alongside Aaron Donald.
Details of Floyd’s contract weren’t immediately available, but they surfaced on Wednesday. Tom Pelissero of NFL Network shared the specifics of Floyd’s deal, which is actually a straightforward pact between the two sides.
Floyd’s salary is only $2 million in 2021, but it jumps to $16.5 million in 2022 – with both salaries being fully guaranteed. In 2023, his salary will be $15.5 million, followed by $16 million in the final year of the deal in 2024.
#Rams OLB Leonard Floyd's four-year, $64 million deal is about as straightforward as it gets:
$14M signing bonus
$2M salary in 2021 (fully gtd)
$16.5M salary in 2022 (fully gtd)
$15.5M salary in 2023
$16M salary in 2024That's it. $32.5 million fully guaranteed at signing.
— Tom Pelissero (@TomPelissero) March 17, 2021
With a $14 million signing bonus that’s prorated over the four years, that tacks on $3.5 million guaranteed per year. So his cap hits appear to be as follows:
- 2021: $5.5 million
- 2022: $20 million
- 2023: $19 million
- 2024: $19.5 million
Floyd got $32.5 million fully guaranteed at signing, which are in the form of his $14 million signing bonus and $18.5 million guaranteed salaries in the first two years. Given the structure of the deal, the Rams can probably get out of it after two seasons without major cap ramifications.
The dead money for cutting him before the 2023 season would be $7 million, and it will drop to $3.5 million if they cut him before the 2024 campaign. It’s an expensive contract for the Rams, but one that shouldn’t handcuff them too much down the line.
