Per Mike Klis:
Callahan’s contract table is beyond the fold:
|Year||Base Salary||Prorated Bonus||Roster Bonus||Per Game Roster Bonus||Cap Number||Dead Money||Cap Savings|
italics – guaranteed for at least skill
The features of this contract are as follows:
- Callahan gets at least $6.5 million fully guaranteed upon signing, and in practicality it’s more like $10 million.
- The reason why is the curious guarantee on the $3.5 million roster bonus in 2020 that’s guaranteed for skill and injury, but not cap. That’s not a combination that’s seen very often, and I am not familiar as to how the Broncos would argue that they can get out of that obligation. In any case, I do not expect the Broncos to have significant cap issues in 2020, so I will treat that guarantee as one that will be achieved.
- Klis did not share when that $3.5 million roster bonus is due, but the timing of that is critical. If it’s on or near the start of the new league year, the Broncos would have to act quickly to move on from Callahan if they want to avoid paying it. If it’s closer to the start of the regular season, then the Broncos have more leverage in that decision.
- The $500,000 annual per game roster bonuses are appropriate given Callahan’s injury history, and it should have not been a surprise to see them. Note that because Callahan was active for only 13 games last season, his 2019 cap number is slightly lower, as 3/16ths of those bonuses will be considered Not Likely To Be Earned. That difference will be charged to the Broncos’ 2020 cap should Callahan be active for 14 or more games.
- It is feasible, though not ideal, to move on from Callahan after only one year even if the Broncos are stuck with the roster bonus. There would be more than $6 million in dead money, but there would still be a slight gain in 2020 cap space.