Leonard Floyd gets four more years, $32.5 million fully guaranteed

The LA Rams are re-signing outside linebacker Leonard Floyd on Wednesday, and NFL Network’s Tom Pelissero has all the details. Floyd’s four-year, $64 million contract includes a $14 million signing bonus and fully guaranteed salaries in 2021 and 2022 that total $18.5 million. That makes it $32.5 million in fully guaranteed money for Floyd and assures that he will be with the team for at least two more years.

If the Rams choose to part with Floyd after 2022, the prorated portions of his signing bonus would seem to imply a $7 million dead money hit in 2023 and a $3.5 million dead money hit in 2024. But as we saw with the Green Bay Packers and Preston Smith this year, it’s always possible to renegotiate a lower sum if Floyd happens to underwhelm with his play on the field before 2023.

Floyd’s $2 million base salary in 2021 should give him a low cap hit this season with a raise coming next year.