Now that the NFL free-agency dust has settled, facts of new 49ers edge rusher Leonard Floyd’s contract are emerging, with the team extending his two-year, $20 million contract over multiple years.
According to Over the Cap, San Francisco structured Floyd’s contract so that the salary-cap cost is spread out over five years, with the largest amount arriving in year two. Floyd’s salary will count $3,418,000 against the NFL cap in 2024, increasing to $10,108,000 the following season.
Floyd will continue to get a prorated signing bonus over the following three years, a tactic employed by NFL teams to spread out hefty contracts and decrease the salary-cap hit. The final two unfilled years of Floyd’s deal will not count against the cap, but the team will pay him a signing bonus of $2,158,000.
Floyd’s signing was the 49ers’ most significant move this offseason, with the former Buffalo Bills defensive tackle now creating a formidable tandem with Nick Bosa. San Francisco still has cap flexibility as they negotiate with wide receiver Brandon Aiyuk and prepare for Brock Purdy’s contract extension when his rookie deal expires after the 2024 season.
Floyd’s signing came after the 49ers lost several key defensive stalwarts during the free-agency season, including the release of Arik Armstead, as San Francisco seeks to reduce some of their most expensive senior contracts.
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