The details are in for Jakobi Meyers’ three-year contract with the Las Vegas Raiders, and they aren’t as heavy on guarantees as initially expected.

It’s a three-year, $33 million contract with a $5.5M signing bonus and $21 million in total guarantees. The deal comes with a $5.5 million roster bonus due on the fifth day of the 2024 league year that’s guaranteed for skill and injury at the time of signing. Meyers has $15,000 in per-game roster bonuses each season and $245,000 in workout bonuses each season.

Here’s a breakdown of his base salaries:

2023: $5M fully guaranteed
2024: $5M guaranteed for injury at the time of signing and guaranteed for skill/cap if he’s on the roster on the third day of the 2024 league year
2025: $10.5M

Meyers’ roster bonus is guaranteed for skill and injury but not cap, which means they could cut him, barring injury, by the third day of the 2024 league year with little penalty. It’s essentially a one-year, $11 million contract with team options for 2024 and 2025.

The only full guarantees on Meyers’ contract are his $5.5 million signing bonus and $5M contract in 2023. He’ll make another $500k in per-game roster bonuses and workout bonuses in 2023.

Here are Meyers’ cap hits:

2023: $7.33M
2024: $12.83M
2025: $12.83M

It’s surprising that the Patriots didn’t make a more competitive offer with more money per year or heavier on guarantees. New England will miss Meyers’ consistency and ability to get open from the slot.

Featured image via Brian Fluharty-USA TODAY Sports