As previously reported on Monday, the Pittsburgh Steelers have now come to terms on a four-year contract extension with kicker Chris Boswell and the details of that deal are now known, thanks to a source.
As previously reported, Boswell’s four-year extension has a new money value of $20 million. The total value of all five years with the old money included is $23.26 million.
Boswell received a signing bonus of $8 million as part of his extension and that is fully guaranteed. His new 2022 base salary is set to be $1.76 million and that is guaranteed for skill, injury, and cap.
Boswell’s 2023 base salary is set to be $2.74 million and that is guaranteed for injury only. Boswell is also scheduled to receive a 2023 March roster bonus of $1.3 million.
The remaining base salaries for years 2024, 2025 and 2026 are $3.12 million, $3.12 million, and $3.22 million, respectively.
Techincally, only $9.76 million, the 2022 money, is fully guaranteed. The other $2.74 million in 2023 is guaranteed for injury only.
Boswell’s new cap charge for 2022 is set to be $5,043,334, which is $95,000 more than it was scheduled to be prior to him signing his extension. $1,683,334 of that $5,043,334 is previous bonus proration from his last contract.
Boswell was previously scheduled to earn $3.26 million in 2022 so once again his new money totals out at $20 million. Boswell’s new new money average is $5 million and that now ties him with Baltimore Ravens kicker Justin Tucker for the distinction of being the NFL’s highest paid player at the position.