After initially agreeing to a three-year contract with the Jacksonville Jaguars last week, kicker Wil Lutz changed his mind and returned to the Denver Broncos on a two-year deal instead. Terms of his contract with the Broncos are now known.
Lutz’s two-year deal has a total value of $8.4 million. He received a $3.3 million signing bonus that will be prorated as $1.65 million salary cap hits over the next two years.
This season, Lutz will have a base salary of $1.21 million (guaranteed). That salary combined with Lutz’s prorated signing bonus will give the kicker a total salary cap hit of $2.86 million in 2024.
Next year, Lutz’s base salary will increase to $3.635 million (not guaranteed), and he can earn an additional $255,000 through per-game roster bonuses. Those two figures combined with Lutz’s prorated signing bonus will give him a total salary cap hit of $5.54 million in 2025.
If the Broncos want to get out of Lutz’s contract next year, releasing him would result in a $1.65 million “dead money” cap charge with a net savings of $3.89 million. The 29-year-old kicker is entering his second season in Denver.
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