Now that the NFL free-agency dust has settled, details about the contract for new 49ers edge rusher Leonard Floyd are emerging, with San Francisco spreading his two-year, $20 million contract over several years.
San Francisco has structured Floyd's contract in such a way that the salary-cap hit will be spread out over five years, with the biggest portion coming in year two, per Over the Cap (h/t 49ers Webzone). During the 2024 NFL season, Floyd’s salary will count $3,418,000 against the cap, with that number jumping to $10,108,000 the following season.
The next three years still will see Floyd getting paid a prorated signing bonus, a technique used by NFL teams to spread out large contracts to reduce the salary-cap hit. The final two void years of the contract will not count towards the cap, though the team will pay Floyd a signing bonus of $2,158,000.
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The Floyd signing was the biggest move for the 49ers so far this offseason, with the former Buffalo Bills defensive lineman now forming a fearsome pairing with Nick Bosa. San Franciso still has cap space as they negotiate with wide receiver Brandon Aiyuk and prepare for Brock Purdy’s contract extension once his rookie deal ends after the 2024 season.
Floyd’s addition came after the 49ers lost several key defensive veterans, including the release of Arik Armstead, during the free-agency period as San Francisco looks to cut down on some of their more expensive veteran contracts.