Redskins’ contract with Landon Collins is a thing of beauty
Eric Schaffer and the Washington Redskins front office did a great job of structuring the Landon Collins deal.
The Washington Redskins made one of the biggest splash moves on the first day of free agency. They added Landon Collins, one of the league’s best safeties, on a long-term deal. Initially, the pact was reported as a six-year, $84 million deal, but a deeper dive reveals that it’s actually much more favorable than the initial numbers indicate.
While Collins’ deal has been reported to be longer, the deal that the teams agreed upon is essentially a three-year, $45 million deal. After the third year of the contract, there is an out that would allow the Redskins to part with Collins while absorbing just $6 million in dead cap.
Most of the guaranteed money has been piled into the first few years of the deal, so that benefits both the player short-term and Washington long-term. Essentially, they can part with Collins three years in if they feel the need to. Or, they can attempt to restructure. But the fact remains that the team will have options with Collins and don’t appear to be hamstrung for more than half a decade by this deal.
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The even more impressive part of this is that Eric Schaffer and the Redskins front office were able to get Collins’ contract to count against the cap for just $4 million this year. That’s absolute wizardry. It’s also huge for the ‘Skins, as they were already running low on cap space, so only having to spend $4 million for a massive upgrade to their defense is a win. Additionally, they can try to make some other upgrades and will have the ability to pay up for a solid starter without having to make too many cuts.
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The Redskins deserve credit for both signing Collins and landing him on a pretty favorable contract. What looked like an overpay at first is now much more palatable, and it will give the ‘Skins some flexibility this year. It will be interesting to see if Washington makes any other moves to try to add talent to their linebacker corps or find a running mate for Collins.