Details and incentives behind Elgton Jenkins extension with Packers
By Paul Bretl
It was initially reported by Ian Rapoport that the Green Bay Packers and Elgton Jenkins agreed to a four-year contract extension worth $68 million and incentives that could increase the value up to $74 million. We’ve since learned some additional details about this deal.
In terms of average annual value, Jenkins’ deal comes out to $17 million per year, which, as Rapoport also pointed out, makes him the second-highest guard in the NFL. However, Brad Spielberger of PFF would later add that Jenkins’ deal is effectively worth $16 million in Years 1 through 3 and then jumps to $20 million in Year 4.
On top of that, Brad adds that Jenkins signing bonus is worth $24 million. The benefit of the signing bonus is that this is cash that the player gets up front, while the team has the ability to spread that cap hit out over the life of the contract — four years in Jenkins’ case — rather than incurring that cap hit all upfront.
When it comes to incentives, Jenkins can earn up to $2.8 million in per-game roster bonuses for basically being active on game day, and he also has incentives tied to playing the offensive tackle position, specifically if he becomes an All-Pro at left tackle or a Pro Bowler at either position.
Jenkins started the season at right tackle, and perhaps due to the combination of still working his way back from injury along with playing a relatively new position, he didn’t look like his old self, allowing 12 pressures and a pair of sacks in just five games, according to PFF. However, since moving back to left guard, Jenkins has been credited with giving up only four pressures and one sack over seven games.
He’s clearly been at his best when at guard, but Matt LaFleur told reporters on Friday that he believes Jenkins can play any of the five positions, and given the incentives, the potential for Jenkins to play tackle at some point in the coming years is still there.
Looking ahead to 2023 and beyond, there is some uncertainty at offensive tackle with David Bakhtiari’s future a bit up in the air and Yosh Nijman likely playing out next season on a one-year restricted free agent deal. Zach Tom is another candidate to take tackle snaps, but like Jenkins, he can play inside as well. It certainly isn’t out of the question that Jenkins could be in the mix for a starting tackle job next summer, depending on how things shake out in the offseason.
The structure of the contract reflects this, with Brad calling it a “pseudo guard/tackle deal.” Along with being the second-highest-paid guard in football, this contract would also make Jenkins the 14th highest-paid tackle by average annual value as well.
As Ken Ingalls, who independently tracks the Packers’ salary cap, points out, this extension reduces Green Bay’s 2023 salary cap by at least $4.8 million, giving them some much-needed additional cap space. Ken also expects Jenkins’ deal to be structured similarly to Kenny Clark’s extension, which came with a low cap hit in Year 1, followed by increases and a potential big jump during the 2024 through 2026 seasons.
Although the Green Bay Packers don’t go and spend big money in free agency, they do prioritize keeping their own and will pay top dollar to do so. Elgton Jenkins is the latest example, but Aaron Rodgers, Jaire Alexander, Kenny Clark, and David Bakhtiari are all other recent examples, and next up this offseason will be Rashan Gary.