UPDATE – March 21: Per Over The Cap, the Broncos also added one void year to Engram’s contract. The proration of the cap dollars of the signing bonus have been updated.
Per Mike Klis, this looks to be a simple one at two years and $23 million:
| Season | Base Salary | Prorated Signing Bonus | Regular Roster Bonus | Per Game Roster Bonus | Cash Due | Cap Number |
|---|---|---|---|---|---|---|
| 2025 | $2,990,000† | $2,666,666 | $510,000† | $11,500,000 | $5,956,666 | |
| 2026 | $10,990,000‡ | $2,666,666 | $510,000 | $11,500,000 | $14,166,666 | |
| 2027 | Void | $2,666,668 | $2,666,668 |
†fully guaranteed salary in entirety
‡$5 million of salary is fully guaranteed
Per Klis’s description, Engram’s total guaranteed money comes in at $16.5 million, via a $8 million signing bonus, $7.99 million in base salary over both seasons of the contract, and what’s stated to be a $510,000 roster bonus in 2025, without a qualifier on whether it is awarded per game, as it is in 2026. It’s unusual to see a regular roster bonus of this number, which is conspicuously divisible by 17, as per game roster bonuses are these days. If both roster bonuses are awarded per game, this table will be accordingly corrected.
Analysis
The Broncos did well to be properly aggressive in ensuring that they got Engram on the team, given both their paucity of talent at tight end, along with the Chargers also in competition for his services.
Engram will of course be a Bronco in 2025. Should the Broncos feel differently in 2026, $5 million in dead cash would be inflicted upon them. However, with minimum salaries rising considerably in the 2020 CBA, if Engram were to be cut and play elsewhere for the entirety of the 2026 regular season, at least $1.3 million of that dead cash would be offset, which is over a quarter of the amount. Financial liabilities would be low if he’s only with the Broncos for one season.
It was imperative for the Broncos to land a viable veteran tight end, as that fills their only hole on the roster that did not clearly have above replacement level talent on it. But their work should not be done here: they should also target at least one tight end in the rookie class, given Engram’s contract length and that he is entering his 30s.