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Agent’s Take: How Chiefs and Eagles have changed financially since meeting in 2023 Super Bowl

Agent's Take: How Chiefs and Eagles have changed financially since meeting in 2023 Super Bowl
USATSI

The Kansas City Chiefs and Philadelphia Eagles are meeting in the Super Bowl for a second time. The first matchup in Super Bowl LVII two years ago was a 38-35 victory for the Chiefs.Β 

A lot has changed for the two participants. Twenty-two of the 44 starters will be different. The turnover is equal on both sides of the ball with the Chiefs. There are six returning starters on offense and defense.Β 

The change to Philadelphia’s defense is significant. Only three starters (safety Chauncey Gardner-Johnson, cornerback Darius Slay and edge rusher Josh Sweat) are the same. There’s more continuity on offense with seven starters returning.

The league-wide salary cap was $208.2 million during the 2022 league year. It’s now up 22.67% to $255.4 million. Each team’s actual salary cap (known as adjusted salary cap) is typically different from the NFL’s set amount because unused cap room can be carried over from one year to the next year and other adjustments can further increase or decrease cap space.

The Chiefs have been handicapped salary cap wise in both matchups. Two years ago, Kansas City ranked in the NFL’s bottom third for adjusted salary cap at about $2.8 million below league average. The Chiefs have 2024’s lowest adjusted salary cap, which is $9.7 million below league average.

The Eagles have gone from one end of the spectrum to the other. For Super Bowl LVII, Philadelphia had the NFL’s second highest adjusted salary cap with just over $11.75 million more than the league average. Now, the Eagles are about $2.5 million below league average.

The cap allocation of resources for the key contributors with Kansas City continues to be skewed to the offense. The difference is much more pronounced now. More than twice as many cap resources are being devoted to offensive key contributors than on defense. The discrepancy was just about 10% for the first matchup.

Things have flipped for the Eagles. It was heavily slanted to the defense during the 2022 season. It’s the other way around for Super Bowl LIX. The defensive key contributor cap spending was $81.51 million two years ago. It’s now $58.63 million.

Each time, the Eagles have had substantial dead money — a salary cap charge for a player no longer on a team’s roster. Dead money took up 14.4% of Philadelphia’s adjusted salary cap in 2022. These residual cap charges are up to nearly 21% for Super Bowl LIX primarily because of edge rusher Haason Reddick. His $21.515 million is the NFL’s sixth highest individual dead money charge for 2024. Kansas City only has one dead money charge above $3 million, linebacker Anthony Hitchens at $4,223,750 in 2022, for either Super Bowl team.

Offense

Quarterback

The Eagles are no longer the beneficiary of having a high-caliber quarterback on a rookie contract, which is the most valuable commodity in the NFL because of the roster flexibility it can provide. Jalen Hurts earned $1,157,744 on a $1,651,195 cap number for his first Super Bowl during the 2022 season. He took up a miniscule 0.73% of Philadelphia’s adjusted salary cap two years ago. He is now on a five-year, $255 million contract extension, averaging $51 million per year. Β 

The Chiefs built both teams with Patrick Mahomes having a massive cap number. He had the NFL’s second largest cap number at $35,793,381 during the 2022 league year. Mahomes’ cap number accounted for almost 17% of Kansas City’s adjusted salary cap. This percentage has dropped slightly to 14.6%. Mahomes’ $37,008,269 cap hit is the NFL’s fourth largest.

Running back

The Eagles made a major financial investment in a ball-carrier during the offseason after having Miles Sanders, a 2019 second-round pick, on the final year of his rookie contract for Super Bowl LVII. Sanders departed the Eagles after the Super Bowl in 2023 free agency. He received a four-year, $25.64 million contract from the Carolina Panthers, averaging $6.35 million per year where $13 million was fully guaranteed.

Saquon Barkley signed a three-year, $37.75 million contract, averaging $12,583,333 per year with $26 million in guarantees, of which $24.5 million was fully guaranteed at signing. The 2024 NFL Offensive Player of the Year’s deal is worth as much as $46.75 million through incentives and salary escalators. If the Eagles beat the Chiefs, Barkley will become the first NFL rushing leader to win the Super Bowl in that same season since Terrell Davis with the 1998 Denver Broncos.

The Chiefs continue to make a small financial investment in the backfield as 2022 seventh-round pick Isiah Pacheco remains the constant. His cap has gone from $727,145 cap number in his rookie season to $1,010,762 now. Pacheco’s four-year rookie contract is worth $3,739,108.

Wide receiver

The Chiefs shifted gears on the approach to wide receiver in 2022. Signability led to Tyreek Hill’s exit in March 2022. The game-changing wide receiver was dealt to the Miami Dolphins for five draft picks: 2022 first-, second- and fourth-round picks in addition to 2023 fourth- and sixth-round picks. Hill was given a four-year, $120 million extension, which had $72.2 million in guarantees, by Miami as a part of the trade.

Marquez Valdes-Scantling was signed to a three-year, $30 million deal, averaging $10 million per year with $15 million of guarantees, in 2022 free agency. Incentives made the maximum value $36 million ($12 million per year). JuJu Smith-Schuster came aboard on a one-year “prove-it deal” for $3.25 million that was worth up to $10.75 million through incentives. Kadarius Toney, a 2021 first-round pick, was acquired from the New York Giants for 2023 third- and sixth-round picks shortly before 2022 trade deadline.

The wide receiving corps was revamped during the offseason. Valdes-Scantling was released in late February and Toney at the late-August roster cutdown. The Chiefs picked $12 million of cap space by parting ways with Valdes-Scantling.

Marquise Brown signed a one-year, $7 million deal worth up to $11 million through incentives to be a part of Kansas City’s revamped receiving corps. The 28th pick in the 2024 NFL Draft was used on Xavier Worthy. Smith-Schuster returned on a one-year deal at his $1.21 million league-minimum salary after the New England Patriots released him during the preseason.

Brown missed the first 14 regular-season games after injuring his left shoulder in the preseason. The wide receiver corps was dealt another blow when 2023 second-round pick Rashee Rice was lost for the season in Week 4 with a right knee injury. The Chiefs used the 2023 fourth-round pick from the Hill trade to move up from 63rd to 55th to take Rice.Β 

The injuries led to the Chiefs acquiring DeAndre Hopkins, who is in the final year of a two-year, $26 million contract worth up to $33.5 million through incentives, from the Tennessee Titans in late October for a conditional 2025 fifth-round pick as the midseason trade deadline was approaching. Hopkins’ cap charge for the Chiefs is $2,332,222 because the Titans converted $2.5 million of Hopkins’ remaining 2024 base salary into signing bonus prior to the trade to help facilitate the deal.

The Eagles found a top-flight receiving threat for Hurts in 2022. A.J. Brown was acquired from the Titans during the first round of the 2022 NFL Draft for 2022 first-round and third-round picks. Brown was rewarded with a four-year, $100 million extension containing slightly more than $57 million of guarantees in connection with the trade. He paired with DeVonta Smith, 2021’s 10th pick, to form one of the NFL’s best wide receiver tandems. Their 2,692 yards in 2022 were the league’s second most for a wide receiver duo.Β 

The Eagles along with the Miami Dolphins are the NFL’s only teams that have two wide receivers with contracts averaging $25 million per year or more. Smith signed a three year, $75 million extension, averaging the same $25 million per year as Brown, in April.

The Eagles wisely nipped a potential problem in the bud by signing Brown to a three-year, $96 million extension shortly thereafter, averaging $32 million per year, which made him the NFL’s highest-paid wide receiver until Justin Jefferson received a four-year extension from the Minnesota Vikings in June, averaging $35 million per year. Brown’s deal set a wide receiver record with $84 million in guarantees, which Jefferson shattered. The $51 million fully guaranteed at signing was the second most ever for a wide receiver.

Tight end

Both teams continue to have high-priced tight ends. Travis Kelce was on a team-friendly four-year, $57.25 million extension, averaging $14,312,500 per year, the Chiefs gave him in 2020 for the first contest. He became the NFL’s highest-paid tight end at $17.125 million per year in April with his renegotiated two-year, $34.25 million deal. The seven-time All-Pro has the league’s highest 2024 tight end cap number at $19,551,944. Kelce’s cap hit has more than doubled from the $8,444,166 two years ago. The four-year, $57 million extension Dallas Goedert signed with the Eagles in 2021 has held up. He is the NFL’s fourth-highest-paid tight end at $14.25 million per year.

Offensive line

Prioritizing the offensive line has been a constant for both teams. The Eagles were the only NFL team with both offensive tackles on contracts averaging at least $15 million per year in 2022. Left tackle Jordan Mailata signed a four-year, $64 million extension (worth up to $80 million through salary escalators), averaging $16 million per year with $40.85 million of guarantees in 2021. The four-year extension Lane Johnson signed in 2019 made him the league’s highest-paid offensive tackle at $18 million per year.Β 

The Eagles now are the league’s only team with both offensive tackles on deals averaging at least $20 million per year. Johnson is tied as the NFL’s second-highest-paid right tackle at $20 million per year. Mailata signed a three-year, $66 million extension (worth a maximum of $69.75 million), averaging $22 million per year in April.

The Eagles have had an interior offensive lineman topping a pay scale for both Super Bowls. Jason Kelce was the league’s highest-paid center at $14 million per year in 2022. He retired after the 2023 season.Β 

Landon Dickerson is currently the NFL’s highest-paid offensive guard. He signed a four-year, $84 million extension, averaging $21 million per year with $50 million of guarantees, in March. Salary escalators make his deal worth as much as $87 million.

Joe Thuney, who is playing left tackle out of necessity, became the NFL’s highest-paid offensive guard when the Chiefs signed him to a five-year, $80 million contract, containing $46.89 million of guarantees, in 2021 free agency. His cap number is 230.89% more than in 2022. Thuney has 2024’s largest cap number for an offensive lineman at $26,971,713.Β 

The Chiefs surprisingly gave Jawaan Taylor a four-year, $80 million contract with $60 million in guarantees, of which $40 million was fully guaranteed at signing, in 2023 free agency rather than re-sign left tackle Orlando Brown Jr., who played 2022 under a $16.662 million franchise tag. At $20 million per year, Taylor is tied with Johnson as the league’s second-highest-paid right tackle.

The Chiefs reset the center market with the four-year, $72 million extension, averaging $18 million per year, Creed Humphrey signed during the preseason. The 2022 second pick’s $50.315 million in guarantees and $35 million fully guaranteed at signing are the most ever for a center.

Defense

Edge

Philadelphia’s pass rush was headlined by Reddick, whose career-high 16 sacks were tied for the second most in the NFL. He signed a three-year, $45 million contract (worth up to $46.5 million through incentives and salary escalators) with $30 million fully guaranteed in 2022 as an unrestricted free agent. Rather than address a disgruntled Reddick’s contract, the Eagles signed Bryce Huff to a three-year, $51.1 million deal worth a maximum of $57.1 million thanks to incentives and salary escalators. The Huff contract has $34 million fully guaranteed.Β 

Huff was a major disappointment before having surgery to repair a torn ligament in his left wrist 10 games into the season. He has been a nonfactor since his return.

Sweat led the Eagles with eight sacks this season. He took a $6 million pay cut from the three-year, $40 million extension, averaging $13,333,333 per year, he signed in 2021. Scheduled to make $16 million in 2024, Sweat lowered his salary to $10 million where $9.5 million was fully guaranteed with the opportunity to earn as much as $13 million total through incentives.

There’s been a changing of the guard on the edge for Kansas City. Frank Clark took a substantial pay cut to remain with the Chiefs in 2022. His cap number was still $12,841,667 in 2022 despite the salary decrease.Β 

Clark originally came to Kansas City shortly before the 2019 NFL Draft when he was essentially acquired for a 2019 first-round pick and a 2020 second-round pick from the Seattle Seahawks after being designated as a franchise player. He received a five-year, $104 million contract with $62.305 million in guarantees ($43.805 million fully guaranteed at signing) in connection with the trade.

Clark was released a couple of weeks after Super Bowl LVII and 2022 first-round pick George Karlaftis has emerged as Kansas City’s best edge rusher. His cap number under his rookie deal hasn’t hit $3.3 million in any of his three seasons with the Chiefs.

Interior defensive line

Javon Hargrave and Fletcher Cox had Philadelphia’s biggest cap hits two years ago at $17.802 million and $16,827,705, respectively. Philadelphia’s biggest 2024 cap number is less than these figures. Hargrave left in 2023 free agency. He signed a four-year, $84 contract, averaging $21 million per year where $40 million was fully guaranteed, with the San Francisco 49ers. Cox retired in March. Β 

Philadelphia’s best interior defensive linemen are on rookie contracts. Jordan Davis was selected with the 13th overall pick in the 2022 NFL Draft while 2024 Second Team All-Pro Jalen Carter went ninth overall in 2023.Β Milton Williams, a 2021 third-round pick, rounds out the rotation. Their collective 2024 cap numbers are less than Cox’s was for 2022.

The Chiefs have the NFL’s best interior defensive lineman now thatΒ Aaron Donald has retired. Chris Jones played Super Bowl LVII under the four-year, $80 million deal (worth up to $84 million through incentives) with $60 million of guarantees he signed in 2020 as a franchise player. He had the league’s fifth highest cap number for 2022 at $29,415,666.

The expectation was Jones would sign a contract extension before the 2023 regular season started. The Chiefs and Jones weren’t in the same ballpark on a new deal although both sides felt he should be the NFL’s second-highest-paid interior defensive lineman. Jones’ 51-day holdout came to an end without a long-term deal before preparations for Kansas City’s second regular-season game began when some modifications were made to Jones’ remaining 2023 contract year.

The Chiefs made sure Jones didn’t hit the open market by getting a deal done in March before their exclusive negotiating rights with him ended. Jones became the NFL’s highest-paid interior defensive lineman and second-highest-paid defensive player with his five-year, $158.75 million contract, averaging at $31.75 million per year. The deal has $95.3 million in guarantees where $60 million was fully guaranteed at signing.

Jones got a 58.75% raise on the deal. His 2024 cap number is $18,665,271 less than it was two years ago.Β 

Linebacker

Off-ball linebacker hasn’t been a financial priority for either team. The Eagles let T.J. Edwards and Kyzir White walk after Super Bowl LVII in free agency and 2022 third-round pick Naboke Dean finally secured a starting job this season. He is missing Super Bowl LIX after tearing the patellar tendon in his left knee during a wild-card playoff game against the Green Bay Packers.

Zack Baun has surprisingly been the most impactful defensive free agent acquisition of 2024. He signed a one-year, $3.5 million deal worth a maximum of $4.5 million through incentives to make a transition to inside linebacker after spending the first four years of his NFL career as a reserve edge rushing outside linebacker and special teams standout on the New Orleans Saints.Β 

Philadelphia’s biggest off-ball linebacker cap number in either contest belongs to Oren Burks, who is filling in for Dean. He is counting $2,007,560 against Philadelphia’s 2024 cap.

Nick Bolton, a 2021 second-round pick, has been Kansas City’s best linebacker over the last three years. His $3,526,814 2024 cap hit is almost $1 million more than Kansas City’s key linebacker contributor cap charges for Super Bowl LVII.Β 

Drue Tranquil is the highest-paid linebacker in either Super Bowl. He signed a three-year, $19 million contract, averaging $6,333,333 per year, to remain with the Chiefs after first coming to Kansas City on a one-year, $3 million deal in 2023 that was worth a maximum of $5 million through incentives.

Cornerback

The Chiefs are comfortable relying on cornerbacks with rookie contracts. Kendall Fuller and Charvarius Ward departed for the Washington Commanders and 49ers, respectively, as free agents in 2020 and 2022. L’Jarius Sneed’s went to the Titans in March via trade after being designated as a franchise player.Β 

The top cornerbacks —Β Trent McDuffie, Chamarri Conner and Jaylen WatsonΒ — are 2022 first-round, 2023 fourth-round and 2022 seventh-round picks. Part of the Hill trade compensation is responsible for McDuffie being with the Chiefs. The 2022 first- and fourth-round picks obtained from the Dolphins were used to move up to take McDuffie with 2022’s 21st overall pick.

Slay is Philadelphia’s constant at cornerback. He signed a three-year extension, averaging $16,683,333 per year, in connection with his trade from the Detroit Lions in 2020. He’s now on the three-year, $39 million deal worth up to $42 million he received in 2023.Β 

James Bradberry, who was called for holding with 1:54 left in Super Bowl LVII when the game was tied at 35, has been on injured reserve since late August due to a lower leg problem. He was making the transition to safety anyway. Slot cornerback Avonte Maddox, a seven-year veteran, fell out of favor early this season.Β 

Philadelphia’s 2024 first and second picks, Quinyon Mitchell and Cooper DeJean, have been upgrades as Bradberry and Maddox’s respective replacements. Both were named to the Pro Football Writers of America’s All-Rookie team.

Safety

Outside of Justin Reid, the Chiefs also rely on youth at safety. Reid was signed to a three-year, $31.5 million deal with $20.485 million fully guaranteed as an unrestricted free agent in 2022 to essentially replace three-time First Team All-Pro Tyrann Mathieu, whose contract expired after the 2021 season.Β 

Juan Thornhill was allowed to leave after the 2022 season for the Cleveland Browns as a free agent. Bryan Cook, a 2022 second-round pick, was waiting in the wings to replace Thornhill.

Gardner-Johnson returned to the Eagles after spending the 2023 season with the Lions. A three-year, $27 million contract, worth up to $33 million through incentives and salary escalators, lured him back. Reed Blankenship, a 2022 undrafted free agent, stepped up after Marcus Epps signed with the Las Vegas Raiders in 2023 free agency.

Special teams

Both kickers,Β Harrison Butker and Jake Elliott, are on deals averaging slightly more than $4 million per year two years ago. Each got a raise in 2024. Butker is the NFL’s highest-paid kicker with the four-year, $25.6 million extension, averaging $6.4 million per year, he received from the Chiefs in August. Elliott is tied for second on the four-year, $24 million extension, averaging $6 million per year, he signed with the Eagles in April.

The Chiefs weren’t willing to invest in 2022 All-Pro punter Tommy Townsend, who was making $895,000 in 2022 as a 2020 undrafted free agent when the Chiefs went to Super Bowl LVII. He left in March for the Houston Texans on a two-year, $6 million deal in free agency.Β Matt Araiza, the 2021 Ray Guy Award winner, was signed to a one-year, $795,000 deal to assume Kansas City’s punting duties.

Braden Mann has provided stability at punter for the Eagles since being signed off the practice squad during the middle of the 2023 season. He was re-signed to a two-year, $4.2 million contract worth up to $5 million through incentives and salary escalators in March.

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Author: Joel Corry
February 7, 2025 | 3:05 pm

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