Following his trade to the Cleveland Browns, Deshaun Watson signed a five-year, $230 million contract with the team. What made this deal so unique (and risky) is that it’s fully guaranteed, meaning Watson got the most guaranteed money in NFL history.
Let’s examine Watson’s contract and what it means for the Browns’ salary cap going forward, especially now that he’s struggling mightily.
Deshaun Watson’s Contract Details and Bonuses
Watson’s five-year, $230 million contract pays him an average annual value of $46 million per year. While he isn’t the highest-paid quarterback contract in the NFL, the fully guaranteed $230 million made this an unprecedented deal.
At the time, it was $80 million more than the next-highest amount of guaranteed money in any contract in NFL history.
Watson’s deal also included a $45 million signing bonus and a $1 million salary in 2022 (so he wouldn’t lose out on a significant amount of income while suspended by the NFL for violating its personal conduct policy due to the two dozen sexual assault accusations against Watson).
This deal was extremely questionable at the time due to the accusations against Watson and the insane amount of guaranteed money. Now, given Watson’s struggles last season and his awful play in Week 1 of the 2024 NFL campaign, it somehow looks even worse.
Last season, Watson threw for just 1,115 yards, seven touchdowns, and four interceptions with a 61.4% completion percentage. The Browns looked significantly better with Joe Flacco under center after Watson got hurt.
In the Browns’ Week 1 loss to the Dallas Cowboys, Watson threw for just 169 yards, one touchdown, and two interceptions with a 53.3% completion percentage. He also had a fumble.
Browns fans are fed up with Watson, but the quarterback is under contract through the 2026 season, and the fact that his deal is fully guaranteed makes it very difficult for the Browns to get out of his contract.
For the "just cut Deshaun now" crowd:
2024 Dead Cap: $119,942,678 ($93.2M cash)
2025 Dead Cap: $80,770,000For the "cut Deshaun after 2024" crowd:
2025 Dead Cap: $118,935,000 ($92M cash)
2026 Dead Cap: $53,835,000For the "cut Deshaun after 2025" crowd:
2026 Dead Cap:…— Spotrac (@spotrac) September 9, 2024
If the Browns cut Watson today, they would have a dead-cap hit of $119.9 million (including $93.2 million cash), plus a 2025 dead-cap hit of $80.7 million. This would be the largest dead-cap hit in NFL history.
Even if they cut Watson after the 2024 season, the Browns would still have a dead-cap hit of $118.9 million (including $92 million cash) and a 2026 dead-cap hit of $53.8 million.
Perhaps the only way that the Browns could move on from Watson is if they can somehow void his contract now that there is a new sexual assault accusation against the quarterback.
While Watson’s contract included a clause that protected him in the event of a suspension during the 2022-23 season, he isn’t protected if he’s suspended going forward. If Watson is suspended again, Cleveland could potentially reclaim his guaranteed money.
The NFL is investigating the accusation under the league’s personal conduct policy and will meet with Watson’s accuser in the coming days. The league hasn’t put Watson on the commissioner’s exempt list since it just opened its investigation and there aren’t any new charges against Watson at the moment.
The plaintiff in this case is represented by the same attorney who represented many of the women who sued Watson in 2021.
“We will be scheduling a meeting with the NFL and hope that can be accomplished in the next two weeks,” attorney Tony Buzbee told ESPN via email. “We have a video and two additional witnesses for the NFL to speak with. I’ve personally never had confidence in the NFL’s disciplinary process but my client has chosen to engage it.”
If Watson’s contract isn’t voided, he will become an unrestricted free agent in the 2027 offseason.