The details regarding Mike Williams’ three-year, $60 million contract extension were finally made public on Wednesday and you’ll all be happy to know that it’s not an absolute mess.
Unsurprisingly, he’s got an ascending base salary that starts at $7 million and scales to $12 million and $17 million in 2023 and 2024, respectively. His overall cap hit will be $14 million this upcoming season and will grow to $19 million in 2023 and peak at $27 million in 2024.
Essentially, the Chargers set themselves up to be fine over the next two seasons before more major moves and/or restructuring will need to occur. If the team decides to move on from Williams before the 2024 season, his dead cap hit will still be $7 million, which is much better from the $26 million they’d occur if something drastic happens prior to 2023.
Over the next two seasons, the combined cap hits of both Williams and Keenan Allen will exceed $33 million and $40 million. With a combined cap hit of $52 million in 2024, it’s tough not to think Allen’s days with the team are numbered unless he, or both players, take some team-friendly restructures.
We all saw how things played out with the Vikings and their pricey receiver duo of Stefon Diggs and Adam Thielen. It’d be nice if the Chargers were able to avoid a similar stretch of drama.
Per The Atheltic’s Daniel Popper, the Chargers will have ~$30.12 million (Pop fixed his math after the tweet below) to spend after accounting for the next rookie class. This number doesn’t yet reflect any additional money adding from potential cuts. Should the Chargers move on from Bryan Bulaga, it would add $10,750,000 to their available cash which would bring their total to just over $40 million.
As you can see, I have not yet included the space LAC would save if they cut Bryan Bulaga. Will add that if/when it happens. https://t.co/cWnrYm5Byg— Daniel Popper (@danielrpopper) March 9, 2022
After Williams’ extension, which was probably a bit more than most expected it to be, the move to cut Bulaga is likely more of a “when” than “if.” With some notable players hitting free agency (cornerback J.C. Jackson, anyone?), they can’t afford not to cut the veteran tackle.