The Detroit Lions rewarded wide receiver Kalif Raymond with a contract extension late last week. The deal was reported to make him one of the highest-paid punt returners in the NFL, and thus reflective of his status as one of the best punt returners in the league.
Dave Birkett of the Detroit Free Press further reported the two-year extension for Raymond was worth a total of $14 million with $8.1 million guaranteed.
Raymond is one of the hardest working players on the Lions, and he has found a home in Detroit after a well-traveled early portion of his career. But as always, the devil can be in the details regarding NFL contracts.
Detroit Lions: Kalif Raymond contract details
According to Over The Cap, here's what the terms of Raymond's extension (through 2025) looks like.
2023
Base salary: $1.35 million (guaranteed)
Prorated Signing bonus: $1.375 million
Workout bonus: $50,000
Cap number, $2.775 million
2024
Base salary: $1.4 million (guaranteed)
Prorated signing bonus: $1.55 million
Dead cap: $6.050 million (pre-June 1 cut)
Per game roster bonus: $250,000
Workout bonus: $50,000
Cap number: $3.25 million
2025
Base salary: $4.35 million (non-guaranteed)
Prorated signing bonus: $1.55 million
Dead cap: $3.1 million (pre-June 1 cut)
Roster bonus: $250,000 (due March 19, 2025)
Per game roster bonus: $250,000
Workout bonus: $50,000
Cap number: $6.45 million
2026 (void year)
Prorated signing bonus and cap number: $1.55 million
Over The Cap has the total at $10.5 million in Raymond's new deal, with $8.15 million guaranteed and $5.7 million of that guaranteed money being new guaranteed money. The void year has become a popular device to spread out the cap hit of a signing bonus, and the Lions have used it frequently.
Via escalators for being named Second Team AP All-Pro as a punt returner last year, Raymond's 2023 cap hit was bumped to a little over $4 million. As is typical with contract extensions, the structure of his new deal dropped his cap hit for this year to a little less than $2.8 million.
So the Lions created a little more cap space this year, while keeping Raymond around a little while longer and giving him some extra security. Looks like a win for all involved.