The Denver Broncos agreed to a two-year, $10 million contract with quarterback Jarrett Stidham on Monday. We now know the details of the contract’s structure, thanks to various reports.
This season, Stidham will have a base salary of $2 million. He also has a $2 million signing bonus that will be prorated into $1 million cap hits over the next two seasons. Stidham will also have a $510,000 roster bonus this year.
That gives him a total 2023 salary cap hit of $3.51 million.
After this season, the Broncos will have the choice to pick up or opt out of the final year of Stidham’s contract. If they opt out, Denver will take a $2 million “dead money” cap hit and not owe the remaining $4.49 million in 2024.
If the Broncos pick up the final year of Stidham’s contract, he will have a base salary of $4.49 million, a $1 million prorated signing bonus and a $1 million roster bonus for a total 2024 salary cap hit of $6.49 million.
That’s not a bad price for a capable backup QB with upside.
Follow the Broncos Wire Podcast:
Apple Podcasts | Spotify | Google Podcasts
