When we extended Stafford in 2017, we agreed to pay him $135M (27M APY for 5 years 2018-2022). Through the first two years of the extension, we’ve paid him $76.5M, that gives us the right to pay him another $58.5M ($19.5M APY) for the final three years and have him as our QB. For a QB the caliber of Stafford $19.5M per year for three years is a bargain as there are 19 QB’s in the league that signed contracts in which they will earn more than $20M APY and that doesn’t include guys like Patrick Mahomes or Lamar Jackson who are currently playing on their rookie contracts.
We probably won’t trade him for three reasons, 1) $19.5M APY is a great deal for a QB the caliber of Stafford and 2) He renegotiated his 2020 salary to free up cap space AND if we were going to trade him, there is no reason to do that, as a trade escalates that salary cap savings back into 2020 and 3) Quinn and Patricia are probably in a win now mode, if they don’t perform well this year, they may be out, thus, they don’t have time to wait for a QB to get acclimated.
But, unlike what many people have said, Stafford and his contract is tradeable. If we were to trade him before his 2020 option bonus (from the 2019 renegotiation, likely 03/17) is due, he would count $24.8M in dead cap space. That’s not the $32M that has been reported (It’s $32M in dead cap space if we pay the 2020 option bonus and then trade him, which is even more unlikely).
If we traded Stafford (and I think that’s a big IF), we would save $15.5M (2020), $20M (2021) and $23M (2022) in CASH and SAVE $33M (2021), $26M (2022) and $3M (2022) in cap space and only a $3.5M additional cap charge for Stafford in 2020 (before a trade, Stafford counted $21.3M and after a trade, he’d count $24.8). According to overthecap.com, we have $46M in cap space and would have $42.5M in cap space if we traded Stafford . . . but now we have no QB.
I still think it’s highly unlikely that we trade Stafford, but the numbers don’t prohibit a trade if we see a Herschel Walker trade offer and signing a vet QB.