How the Tennessee Titans saved money by extending Jeffery Simmons
The Tennessee Titans have agreed to a four-year contract extension with star defensive tackle Jeffery Simmons worth $94 million. The deal has $66 million in guarantees and will keep Simmons under contract with the Titans through the 2027 season. Taking a look at the contract details on OverTheCap.com, the Titans did what many fans were hoping […]
The Tennessee Titans have agreed to a four-year contract extension with star defensive tackle Jeffery Simmons worth $94 million. The deal has $66 million in guarantees and will keep Simmons under contract with the Titans through the 2027 season.
Taking a look at the contract details on OverTheCap.com, the Titans did what many fans were hoping for. Tennessee structured the deal in a way that lowered Simmons' immediate cap hit for the 2023 season and actually saves the Titans money for the upcoming year.
Here's a look at the year-by-year cap hits over Simmons' new contract (via OverTheCap.com):
| Year | Salary | Bonus | Roster | Cap Number |
|---|---|---|---|---|
2023 | $1,130,000 | $4,800,000 | $450,000 | $6,353,529 |
2024 | $16,550,000 | $4,800,000 | $450,000 | $23,060,000 |
2025 | $17,550,000 | $4,800,000 | $450,000 | $21,539,000 |
2026 | $20,223,000 | $4,800,000 | $450,000 | $25,473,000 |
2027 | $23,050,000 | $4,800,000 | $450,000 | $28,300,000 |
So how did the Titans manage to lower Simmons' 2023 cap hit?
Because Tennessee had already picked up the fifth-year option on Simmons' rookie contract, Simmons was due $10,753,000 fully guaranteed in 2023. The four-year contract extension comes in addition to the year remaining on Simmons' deal, meaning there are now five total seasons left on his contract.
By giving Simmons a $24 million signing bonus, the Titans are able to lower the base salary on Simmons deal to $1,130,000 in 2023 while prorating his signing bonus against the cap over five seasons. Jeff gets paid out $25,580,000 in total cash this year, which is more than double what he was set to make, and the Titans are able to create some immediate cap flexibility.
The larger cap hits on Simmons contract will come in future seasons when the Titans have less money on the books are able to build their roster around large cap numbers instead of trying to squeeze a big cap number into their current restraints.
Tennessee now has over $11 million in available cap space. That's right in the middle of the pack at 15th best league-wide.
The Titans still have some roster holes to fill. That money may come in handy as they explore free agent contracts or trades for additional pieces this offseason.
