Kirk Cousins Agrees to a 2-Year Contract Extension to Stay in Minnesota

Congrats to @KirkCousins8 on agreeing to a 2 year extension with the @Vikings

— Mike McCartney (@MikeMcCartney7) March 16, 2020

Wow, this is a major domino to fall, in the Minnesota Vikings offseason. We needed to clear as much cap space as possible, and it looks like Kirk Cousins will help that cause, by signing an extension that I’m sure will clear more room.

This extension makes complete sense. Say what you want about Kirk, but he is clearly a top-12 quarterback. If Jimmy Garoppolo can make it to a Super Bowl, I’m absolutely convinced, Cousins can too.

Obviously, Kyle Shanahan agrees. Ian Rapoport is now reporting the details of the contract and Courtney Cronin breaks it down into even greater detail. Pro Football Talk is reporting a $10M savings for the Vikings in 2020…. Rob Brzezinski is at it again.

For the #Vikings and QB Kirk Cousins, it’s a 2-year deal worth $66M, source said. In all, it’s 3 years, $96M. $61M guaranteed at signing.

— Ian Rapoport (@RapSheet) March 16, 2020

Here's how Cousins new contract is structured, per source

2 years, $66 million. Total of $96 million (he had the 1 year left for 2020). $61 million GTD at signing, $35 million GTD for injury only but converts to a full GTD at the beginning of 2021 league year.

— Courtney Cronin (@CourtneyRCronin) March 16, 2020

Per source Kirk Cousins new contract reduces his cap number for 2020 by $10 million, to $21 million.

— ProFootballTalk (@ProFootballTalk) March 16, 2020

According to Spotrac.com, Kirk’s cap hit will jump up to $45 million in 2022… but it really doesn’t matter. If the Vikings were to exercise their option to cut him before the 2021 season, they will take a $41M cap hit that season.

It wouldn’t make any sense to do that because you can keep him on the roster that season, for $10M less and then have him on your roster for 2022, at essentially the same cost.

This is a guaranteed contract, without technically being a guaranteed contract. Here is the back and forth I had with Spotrac, where their founder explained the deal to me, and how the money will work.

Kirk Cousins contract terms according to @spotrac #Vikings https://t.co/EmDhgGxVIw pic.twitter.com/2WymdryxBA

— Minnesota Sports Fan (@realmnsportsfan) March 16, 2020

This is exactly how the deal looks today. The Vikings will have until the 3rd league day of 2021 (mid-March) to release Cousins before his 2022 salary fully guarantees. If they do that, they will take on a $41M dead cap hit. Once 2022 guarantees, $41M becomes $76M.

— Spotrac (@spotrac) March 16, 2020

Exactly.

— Spotrac (@spotrac) March 16, 2020

Eric Strack | Minnesota Sports Fan