More than one week after the trade was first reported, and on the day after the Tennessee Titans officially introduced him, we now have the full breakdown of L’Jarius Sneed’s contract.
As was reported, it’s a four-year deal worth $76.4 million, but the fully guaranteed money is actually $44 million and not the $51.5 million that was originally reported, according to Mike Florio of Pro Football Talk.
Per Over the Cap, Sneed’s $19.1 million annual average ranks seventh at the position, and the $44 million fully guaranteed ranks third.
Sneed’s cap number for 2024 comes in at $9.96 million but goes up to $24 million in 2025. His cap numbers for the final two years of the deal are $21 and $21.4 million.
As far as outs in the deal are concerned (let’s hope it never gets to that), the first one that is even close to palatable comes in Year 3.
The Titans can cut Sneed in 2026 with a post-June 1 designation to save $8.5 million, but that would cost $12.5 million in dead cap. If done pre-June 1, it would cost $17.5 million in dead cap and save $3.5 million.
The final year of the deal in 2027 provides the best out. Whether done with a pre- or post-June 1 designation, cutting Sneed would only incur a dead-cap charge of $5 million while saving a whopping $16.4 million.
