Fletcher Cox’s contract situation with the Philadelphia Eagles is intriguing after he was released and re-signed within the space of a day last offseason. Heading into 2023, what is the status of Cox’s contract, and what is his impact on the Eagles’ salary cap this year?
Fletcher Cox’s Contract Details
Cox’s contract for the 2022 season was officially called a one-year contract worth $14 million. However, somewhat confusingly, the terms of the deal appeared to span 2022 and 2023, making it appear like a two-year deal. However, the 2023 portion is considered to be a “dummy” year that is solely there to allow Cox to be designated as a post-June 1 release in 2023.
As part of the one-year contract, Cox received a $12.5 million signing bonus and a $1.5 million salary. The contract contains three void years from 2024 to 2027, which allowed the Eagles to spread the signing bonus across five years instead of just one or two. That means the signing bonus is prorated at $2.5 million a year, keeping his active cap number low in 2022.
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However, the Eagles are still dealing with the remnants of the old contract that terminated in 2022. To end that contract, Cox was designated a post-June 1 release, leaving $12.827 million in dead money for 2022 and $15.359 million in 2023.
When Cox is released this year as a post-June 1 release, there will be a further $2.5 million in dead money in 2023 and the remaining $7.5 million of prorated signing bonus in 2024. The total of Cox’s dead money numbers with the Eagles are:
- 2023: $17.859 million
- 2024: $7.5 million
Therefore, assuming the Eagles and Cox do not agree to a new contract, the Eagles will be left with $17.859 million in dead money from Cox for 2023. Carrying 8.41% of your projected salary cap as dead money on one player is far less than ideal. The Eagles had Cox counting for $16.827 million in cap space in 2022 (7.5%), but at least had him on the roster for that price.
Cox’s Net Worth
Cox’s net worth is estimated to be in the $30-40 million region, depending on where you look for the information. A player’s net worth is really tough to judge without knowing their income from other sources and their various outgoings. What we do know is that Cox’s NFL career earnings total $115.890 million. Unless he retires this offseason, we should expect Cox to add to that in a significant way this year.