The Finer Details of the Kirk Cousins Extension
As the dust has settled, we are learning about the finer details of the Kirk Cousins extension.
According to The Star Tribune‘s Ben Goessling, Mr. Cousins’ 2022 cap number will drop from its gaudy $45+ million to a much more manageable $31.416 million. Next year’s hit will only be $36.25 million. The cost of this extension is a couple void years tacked onto the backend. Cousins isn’t under contract in 2024, and yet he’ll leave the team with a $12.5 million cap hit.
The basic reason why is that the team has spread out Cousins’ signing bonus – which is $25 million – over four years rather than two. As many of you know, a signing bonus gets spread out over the length of a deal. Void years are merely fake years that allow a team to spread out money over a longer period of time. So, instead of dividing the signing bonus through two seasons, Minnesota divides it through four, thereby lessening the chunk of money that hits the cap in 2022 and 2023.
It is these finer details from the Kirk Cousins extension that are interesting.
In time, the Vikings will need to face the consequences of their decision. In the meantime, though, they can have their QB1 on a much more palatable deal.
Low-to-mid 30s is pretty much the going rate for a QB who is at least somewhat competent. Cousins, in full fairness to him, is better than average. In fact, he’s a good NFL QB. The $31 million and $36 million is pretty good value for these next two seasons.
If things really go poorly, the team will be able to move on in 2024, likely with a young player under center. Bringing in a rookie QB would offset the dead money from the void years.
So, be excited about this deal. Cousins is far from perfect, but he is better than almost all of the QB solutions out there. Having him on a more manageable deal is huge for Minnesota’s chances at competing this year and next.
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