The initial report from ESPN's Adam Schefter said it was a four-year, $212 million contract extension for Jared Goff. NFL Network's Tom Pelissero quickly reported the final year of the extension was actually an option, and Albert Breer of SI.com reported that option was worth $57 million.
Breer reported some further details of Goff's new contract on Tuesday, which served as the starting point for when the full details come out. Via Mike Florio of Pro Football Talk, citing a source with knowledge of the terms, more of those details are now out.
A new look at Jared Goff's contract
Per Florio, here's a new look at Goff's new contract.
Signing bonus: $73 million
2024 base salary: $2.611 million, fully guaranteed
2025 base salary: $18 million, fully guaranteed
2026 base salary: $55 million; $20 million fully guaranteed a signing, $35 million becomes fully guaranteed in 2025
2027 base salary: $50 million; $22 million guaranteed for injury at signing, with $18 million becoming fully guaranteed in 2026 and the remaining $4 million becomes fully guaranteed in 2027
2028 base salary: $39 million
2028 offseason roster bonus: $7 million
2028 escalator: $4 million
"The five-year total deal pays out $235.61 million ($47.122 million per year). He (Goff) gets $75.611 million this year, $18 million in 2025, $55 million in 2026, $40 million in 2027, and $47 million in 2028."
The full guarantee at signing is $113.611 million, with $148.611 practically guaranteed. The first three years (counting 2024) are locked in, with $18 million fully guaranteed in the fourth year coming by the start of the third year.
-Mike Florio, Pro Football Talk
The practical guaranteed money for Goff could really be called $166.61 million when taking into account that $18 million for 2027 that will come to him in 2026. The Lions would have to cut bait before that point to avoid that $18 million, one year into the extension and less than two years from now (assuming a March 2026 guarantee date).
We still have to see how the cap hits attached to Goff's new contract break down, when the Lions have a palatable out should they want it (looks like 2027, at first glance), etc. His base salary for 2024 will apparently drop almost $20 million ($22.3 million originally), and thus his original $32.3 million cap hit for this year will drop quite a bit (as expected) as a result of the extension.