In the shifting landscape of NFL salaries, the traditional hierarchy placing cornerbacks ahead of safeties has experienced a significant shake-up. For the first time in the salary cap era, which started in 1994, a safety has ascended to the pinnacle of defensive back earnings. That player is Tampa Bay Buccaneers' Antoine Winfield Jr.
Winfield's rise to financial prominence came in May when he signed a four-year, $84.1 million contract, with an average annual value of $21.025 million. This lucrative deal followed his designation as a franchise player for $17.123 million. Winfield's new contract not only marks a personal milestone but also sets a historical benchmark as he becomes the highest-paid defensive back in the league, surpassing the previous top earner, Green Bay Packers cornerback Jaire Alexander.
Resetting the Market
Alexander had held the title of the NFL's highest-paid defensive back since 2022 when he inked a four-year, $84 million extension, averaging $21 million per year. Before him, Jalen Ramsey had set the bar with a five-year, $100 million deal, including potential earnings of up to $105 million through salary escalators, with the Los Angeles Rams in 2020. At that time, the notion of a $15 million-per-year safety was far-fetched. However, since the end of the 2020 regular season, the ceiling for safety salaries has skyrocketed by an impressive 42.54%.
Despite the substantial growth in safety salaries, there remains a notable discrepancy in guaranteed money between top-tier cornerback and safety contracts. For instance, Ramsey set records for cornerbacks with $43.703 million fully guaranteed at signing and $71.203 million in total guarantees. These numbers were later eclipsed by Cleveland Browns' Denzel Ward in 2022, who secured a five-year, $100.5 million extension with $71.25 million in guarantees, including $44.5 million fully guaranteed at signing.
Winfield's contract includes $45 million in guarantees, all of which are fully guaranteed at signing, setting a new high for safeties. Compared to Ramsey's, Winfield's deal underscores the evolving valuation of the safety position within the NFL salary structure.
The Cornerback Market
While the safety market has seen rapid growth, the cornerback market has shown a more modest increase. Since 2020, the top of the cornerback market has only grown by 5%, despite the continued demand for elite cornerbacks. Ramsey's record-setting deal was incrementally improved upon first by Ward and then by Alexander, with slight percentage increases over previous benchmarks.
Among the notable cornerback contracts in recent years, Trevon Diggs stands out. Diggs, who earned first-team All-Pro honors in 2021 with a league-leading 11 interceptions, secured a five-year, $97 million extension from the Dallas Cowboys in 2023. The deal included $42.304 million in guarantees, with $33.304 million fully guaranteed at signing. Diggs' contract puts him in line with Marshon Lattimore of the New Orleans Saints, who signed a five-year extension in 2021 worth $19.4 million per year, featuring substantial guarantees as well.
Franchise Tags and Trades
The use of franchise tags continues to play a pivotal role in shaping player contracts and team strategies. Jaylon Johnson of the Chicago Bears, who received a $19.802 million franchise tag, was unique in signing a multi-year deal averaging less than his franchise tag value. Johnson ultimately agreed to a four-year, $76 million contract, mirroring the annual value of Derwin James' 2022 deal with the Los Angeles Chargers.
Johnson's standout performance in 2023, where opposing quarterbacks completed only 46.3% of passes when targeting him, likely contributed to the Bears' decision to secure him long-term. His elevated performance level also included a career-high four interceptions.
Another cornerback, L'Jarius Sneed, was tagged by the Kansas City Chiefs but ended up being traded to the Tennessee Titans for future draft picks. Sneed's designation as a franchise player carried clear intent from the Chiefs to seek value through trade rather than long-term commitment, reflecting different team strategies in managing cap space and player assets.
Looking Ahead
As the 2023 season progresses, the NFL salary landscape for defensive backs will undoubtedly continue to evolve. Young talents like Sauce Gardner, the 2022 NFL Defensive Rookie of the Year, will soon be eligible for contract extensions, potentially pushing the market higher. The Broncos have also secured Patrick Surtain II with a fully guaranteed fifth-year option for 2025, signaling their commitment to retaining top defensive back talent.
The drama of NFL contracts and salary negotiations will persist, with every new deal providing a touchstone for future negotiations. Whether it's cornerbacks maintaining their historical earnings lead or safeties breaking new financial ground, the market dynamics within the NFL remain as unpredictable as ever.