Will Harris’ new Lions contract takes advantage of 4-year qualifying benefit

- Advertisement -

The Detroit Lions re-signed Will Harris on Tuesday and they were able to get a break on their salary cap hit for him due to a type of veteran salary benefit called a four-year qualifying contract.

Here’s the NFL’s explanation of the veteran salary benefit:

“Formerly known as the minimum salary benefit, the veteran salary benefit allow teams to offer a “Qualifying Contract” to any player with at least four credited seasons at a reduced salary-cap hit. Under this provision, a qualifying contract is a one-year deal worth the minimum base salary applicable to a player with his number of credited seasons, plus $152,500 in additional compensation (i.e., signing bonus, roster bonus, incentive, etc. — amount begins to increase in 2024). These contracts are charged against the salary cap at the rate of a player with two credited seasons that league year.”

In essence, the veteran salary benefit is designed to give teams the ability to sign a player that has been in the league for four years at a discounted rate. This is good for the team because these players cost less, and it’s good for the players because it encourages teams to sign veterans instead of just turning to cheaper players on rookie deals.

There are two key numbers to remember here. First, the veteran minimum for a fourth-year player is $1,080,000. Second, veterans can be offered up to $152,500 in bonus money in order to stay compliant.

Here’s the league’s explanation of the four-year qualifying contract:

“Another type of veteran salary benefit, it can be offered to a player with at least four credited seasons whose contract with a team has expired after being on said team for four or more consecutive, uninterrupted league years prior to his contract expiring. Such a player must have been on the team’s 90-man active/inactive list for said seasons (and every regular-season and postseason game). Teams can sign a maximum of two eligible players to this type of salary benefit.

“A qualifying contract under this benefit is a one-year deal with a base salary of up to $1.35 million more (set to increase in 2024) than the minimum base salary for said player. However, if a team does sign two players to a qualifying contract, it can only give a combined $1.35 million in additional base salary between the two deals. Under such agreements, only the applicable minimum base salary (not the $1.35 million benefit) is charged against the salary cap.”

First, to qualify for this benefit players need to have been on a team’s active roster for four full…

Read More: Will Harris’ new Lions contract takes advantage of 4-year qualifying benefit 2023-03-16 17:00:00

0 0 votes
Article Rating

- Advertisement -

Notify of
Inline Feedbacks
View all comments