In the same time frame a year ago, the New England Patriots had already signed eleven (11), with the vast majority of them being sure bets to reach the final roster.
The squad is taking a new approach this season by retaining some of its own free agents and adding just one new player from the outside.
Terrance Mitchell, a cornerback, reportedly signed a one-year, $3 million contract. But as the fine print of the contract makes clear, Mitchell will need a lot of breaks to cash in on all of that cash.
Mitchell would need to fulfill all of his roster bonuses ($20,000 per game) and playing time incentives (also $20,000 per game) in order to earn the entire $3 million that has been reported.
Though the precise thresholds for achieving those bonuses remain unknown, it is safe to guess that he will have to do better than last year’s 69.3% snap share to earn them.
As a result, the Patriots will be able to keep a sizeable amount of the contract’s value off their cap for the time being because it is unlikely to be earned. From the numbers, we can deduce that Mitchell’s salary cap amount for the 2022 season will be $1.69 million.
In contrast, in the event of a release, just the $350,000 in guarantees would be considered a dead cap. This means that the Patriots would save a total of $1.34 million if they were to cut ties with Mitchell in the future.
How Much Does Terrance Mitchell Make?
Terrance Mitchell earns an average of $1,750,000 per year. Mitchell will get a base salary of $1,210,000, a signing bonus of $200,000, and a roster bonus of $340,000 in 2022. He will also have a cap hit of $1,690,000 and a dead cap value of $350,000.