Heading into 2023, Dalvin Cook’s contract is under much scrutiny, with rumors he could be a cut candidate this offseason. Let’s take a look at Cook’s contract situation, his salary cap number for 2023, and the Minnesota Vikings‘ options and potential cap savings if they were to release him in 2023.
Dalvin Cook’s Contract Details
Cook’s contract is a five-year, $63 million deal that is fully guaranteed. His average annual salary is $12.6 million, and the contract contained a $15.5 million signing bonus. In 2023, Cook’s contract is set to count for $14.101 million against the Vikings’ salary cap, with $10.4 million in base salary.
Cooks signed his five-year contract extension ahead of the 2020 NFL season, in what was set to be the final year of his rookie deal. The extension contained $16.325 million guaranteed at signing and $28.125 million in total guarantees. Cook’s $15.5 million signing bonus prorates across the contract at $3.1 million a year. His final season under the extension is 2025, meaning Cook would be a free agent in 2026.
As mentioned, Cook will count for $14.101 million against the Viking’s salary cap in 2023. That is set to be the sixth-highest RB cap number in 2023. Here is how that cap number breaks down:
- Salary: $10.4 million
- Signing Bonus (Prorated): $3.101 million
- Per-Game Active Bonus: $500,000
$29,411 per game
- Workout Bonus: $100,000
- 2023 Cap Number: $14.101 million
The signing bonus in Cook’s extension is prorated from 2020 to 2024. Therefore, two years are remaining in terms of proration. That means Minnesota would be left with $6.203 million in dead money if they cut Cook this offseason. If they do so, the Vikings would save $7.899 million against the cap. That makes him an intriguing potential cap casualty this offseason.
Minnesota could make further savings if they designate Cook as a post-June 1 release. That would spread the remaining prorated signing bonus across 2023 and 2024 at $3.101 million per year. That would present a cap saving of $11 million in 2023. However, the Vikings need to be cognizant of $2 million in Cook’s salary that becomes guaranteed on March 17 if he remains on the roster.
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The Vikings could look to restructure Cook’s deal to create cap space. They could potentially clear around $8.5 million in cap space if they reduce his base salary to the minimum and add two void years to his deal.
Cook’s cap numbers in 2024 and 2025 are already $15.601 million and $13.5 million, so adding over $2 million to those is not significant. Additionally, doing that would only leave around $4-4.5 million in dead money when the contract is then voided in 2026.
Cook’s Net Worth
Cook’s net worth is estimated to be in the region of $20-25 million. It’s hard to pin down exact numbers for a player’s net worth, with a lot of different things going into the calculations.
What we do know is that Cook’s career NFL earnings are $32.217 million through six years in the league. If he plays out his current contract, Cook’s career earnings would reach $69.217 million.