Quinn Meinerz Contract Extension Details
Per Jason Fitzgerald of Over The Cap:
Quinn Meinerz signed a four year, $72 million extension with the Broncos on July 22, 2024. $45 million is guaranteed of which $24 million is fully guaranteed at signing. Meinerz received an $11.5 million signing bonus and his 2024 and 2025 salaries are guaranteed. If on the roster on the 5th day of the 2025 league year, his 2026 salary will be fully guaranteed. If on the roster on the 5th day of the 2027 league year, $6.14 million will become fully guaranteed. There are per game bonuses in the final three years of the contract. The contract also contains an additional void year for salary cap purposes. $8 million in additional incentives are available.
Some additional details:
- Surprisingly, Meinerz's APY comes out to be only $18 million, and not $20 million. It's surprising because initial reports to the contrary did not include weasel words like "up to" or "maximum" in that number.
- Less surprisingly, the reported guarantees of $45 million included vesting guarantees, with his full guarantees at signing coming in only at $24 million. However, the timing of his vesting guarantee on his 2026 salary being in 2025, combined with the structure of the contract as whole, makes it impractical to cut him before it vests. Something disastrous would have to happen in order to not pay out that salary, so I will describe his "likely guarantees" as $38.856 million.
- $10.275 million of his fully guaranteed money will be paid out in an option bonus in 2025. This accounts for the void year attached, in order to prorate the cap dollars from the option bonus maximally.
- The maximum earnings of the contract come from a set of rolling escalators to Meinerz's base salaries based upon being named a first team All-Pro. The more times he is named to this list--and especially if he is consecutively named beginning this season--the more escalators that will kick in. Since Meinerz has never been named as such, these officially are classified as Not Likely To Be Earned, and unofficially I think many of these escalators will be daunting for Meinerz to obtain.
More beyond the fold: to reference Meinerz's full contract table, visit his OTC page here.