Redskins sign former Giants safety Landon Collins

Chris Lingebach
March 11, 2019 - 3:39 pm
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The Redskins are signing former Giants safety Landon Collins to a six-year, $84 million contract, the details first reported by Ian Rapoport of NFL Media.

106.7 The Fan's Craig Hoffman has confirmed the signing and notes that the $45 million in guarantees being reported is not "fully guaranteed."

That's an average annual value of $14 million for the 25-year-old free agent, who's a three-time Pro Bowler and was an All-Pro in 2016.

Collins recorded 96 total tackles and forced one fumble in an injury-shortened 2018, in which he started 12 games, missing the last four with a partially torn rotator cuff.

A second-round pick in 2015, Collins went out of his way coming out of Alabama to speak of Sean Taylor as his hero. Which makes him an ideal personality fit in Washington.

106.7 The Fan's Craig Hoffman recently characterized Collins as "one of few players I would spend real money on if I'm the Redskins."

On with The Sports Junkies Tuesday morning, Hoffman provided further details on Collins' contract, describing it as a "brilliant deal" for the Redskins.

"He only counts $4 million towards the cap this year," Hoffman said. "Landon Collins signed a $15 million signing bonus ... his base salary in 2019 is $1 million. And so everybody understands how this works: a signing bonus is then prorated over basically the length of the contract — because Collins' last year is an option, it gets a little bit funny here — but Collins' $15 million signing bonus will be prorated over five years."

"That is $3 million in terms of the cap hit every single year. But because he gets that actual cash up front, they only paid him a base salary of $1 million. But Landon Collins' take-home value for 2019 will be $16 million. That's actually the most he'll get at any point in this deal."

"Next year, they have an escalating salary of $10 million, then after that it's about $12.5 million," Hoffman continued. "Ultimately, you have this small number this year, but you don't have a lot of cap space. That allows you to pursue other people."

"They can still create other room if they need to go after someone big if they would like, or try to spread it around amongst multiple players. And then as the cap goes up year over year, and certainly in two years it's gonna be over $200 million — it's $188 (million) right now — the $12.5 million base number and the $16. whatever he'll count towards the cap once you add in all of the bonus money that's prorated, it's not gonna be that bad percentage-wise."

"I think this is a brilliant deal to get everybody what they want," Hoffman told the Junkies. "It gets the Redskins a manageable number, it gets the player they want, the player gets paid and by the way, after three years they can get out of this deal really easily. It's $6 million, so they could either straight-up cut him and have $6 million in dead cap, or they could designate him as a post-June 1 cut and have $3 million for two years in dead cap money. That is more than manageable."

"This is a really, really smartly configured deal by (Senior VP of football operations) Eric Schaffer and company to get that much bonus money up front, the small cap number for this year and then some pretty solid outs down the road."

Follow Redskins reporter Craig Hoffman  and 106.7 The Fan for the latest