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.
#Rams OLB Leonard Floyd's four-year, $64 million deal is about as straightforward as it gets:— Tom Pelissero (@TomPelissero) March 17, 2021
$14M signing bonus
$2M salary in 2021 (fully gtd)
$16.5M salary in 2022 (fully gtd)
$15.5M salary in 2023
$16M salary in 2024
That's it. $32.5 million fully guaranteed at signing.
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.