Mike Mitchell’s Contract
Some people have questioned the logic in giving Mike Mitchell $5M per year by making comparison to T.J. Ward getting 4 years and $23M from the Broncos, Ward having a longer track record of good play and generally being regarded as the superior player. But, the only thing that really counts in any NFL contract is the guaranteed money. Mitchell is actually only guaranteed $4.75M. The practical guarantee is higher, but if the Steelers wanted to cut him next week, they could and they would owe no more money.
The practical guarantee for Mitchell is $6M ($4.75 at signing, $500K roster bonus due next month and 1st year salary of $750K). They aren’t likely to cut the guy after giving him a signing bonus in that amount. The actual guarantee in Ward’s contract is $14M. The back end years in NFL contracts are window dressing, because when it comes right down to it, they are all team option years.
Mitchell’s deal is one that can be walked away from at any time beginning next March. You can see the structure below.
Thank you, CapMeister. Looks like a smart signing to me, from every angle.