Biography & Early Wealth Journey
Breaking down the deal a bit further, the money is spread out pretty nicely. Collins will have a $15 million signing bonus, but his actual 2019 salary is $1 million. In 2020, he'll make $10 million, and his 2021 salary will be $6 million. His 2021 salary is worth $12.5 million, with $5 million guaranteed at signing and the rest guaranteed for injury. Collins will receive that money one way or the other – he just has to wait a few extra days to collect it if he stays healthy.
In total, Collins has $44.5 million fully guaranteed. He can make the other $40 million if he plays out his contract with Washington through 2024. However, Washington can release Collins by 2021 and avoid paying about half of the contract.
Rob Carr/Getty Images
Primary Income Streams & Multi-Million Contracts
Even better, his deal counts for just $4 million against the cap in 2019. For a team that was already pushing the limits of the salary cap, that's a big deal.
Washington saw its season go down the drain after quarterback Alex Smith suffered a leg injury in Week 11. Prior to that, they were in first place in the NFC East. They believe they can win now, and signing Collins will help shore up a mediocre defense.
The team still probably won't have Smith back for Week 1, though. They'll likely look to shore up their depth chart in the draft, but can a rookie quarterback hop right in and bring success?
Adding Collins certainly helps Washington as a whole. But in a fairly stacked division, they may still be a few pieces away from truly contending.