Tyler Lockett has made so many incredible plays to bail out the Seattle Seahawks over the years, we've come to expect it. So we shouldn't be surprised that he came through again. This time it was on the financial side of the team.
The incredible Tyler Lockett has come through for the Seattle Seahawks yet again. For once, he didn't catch a touchdown pass inches from the turf with a defender draped over him like American cheese on a Deluxe at Dick's. Nope, not talking about one of Lockett's patented toe-tapping sideline catches that would make Baryshnikov jealous.
No, this time, Tyler Lockett came through for the Seahawks off the field. As reported by multiple sites, he and the Hawks have restructured his contract. This guarantees that he'll remain with the team at least through 2024. Well, sure, they could still trade him, but it removes the potential of releasing him outright. That's the best news the 12s have seen for weeks. As it turns out, it was even better news than the bump to the NFL salary cap that gave Seattle breathing room to keep him at all.
Seattle Seahawks restructured Lockett's deal to keep him happy and in Seattle
Lockett's previous contract, per spotrac.com, saddled the Seahawks with identical cap hits of $26.9 million for both 2024 and 2025. His base salary for both years was set at $15.3 million, which escalated to $17 million with various incentives. One thing he didn't have under the old contract was any guaranteed money. No doubt that was part of his incentive to rework the contract with Hawks GM John Schneider.
As Bob Condotta reports for The Seattle Times, there are two major changes in Lockett's new deal. The first relates to guarantees. Now he'll receive $30 million over two years, which can max out at $34 million - basically the same as his old deal. The difference is that nearly $13 million of the money is guaranteed this year. It benefits the Seahawks because the guaranteed money reduces his total cap hit by the same $13 million. We haven't seen solid numbers yet, but most reports indicate that most of the hit will be pushed back to 2025. Here's the initial breaking news, per NFL Network's Mike Garafolo:
#Seahawks WR Tyler Lockett is remaining with Seattle on a restructured deal, source says: Two years, $30 million with a max value of $34 million with nearly $13 million guaranteed this year.
— Mike Garafolo (@MikeGarafolo) March 10, 2024
It's expected that Lockett's new deal will push Seattle's cap space from $42 million to well over $50 million. Oh, the Hawks got to $42 million by reworking the contract of another wide receiver on the same day. Dee Eskridge signed a new deal, dropping from $1.47 million to the league veteran minimum of $1.055 million. It was take a pay cut or get cut, I'm sure, so Eskridge made a wise decision. His deal isn't guaranteed, either, so he'll need to make the 53-man roster.
As for Lockett, this is nothing new for him and the Hawks. Just last May, he reworked his deal to convert $8.5 million of his salary that year into a signing bonus. That cleared over $5 million in cap space last year. So as I said, it's not exactly surprising that the GM and number 16 were able to reach a new agreement again. I wonder if John gets a free listing with Tyler now. Hmmm... he is a crafty fellow. Just the other day, he said the Seahawks were finished with all their deals, and looking at the free-agent market. Sure, John; suuure you were finished.
Well, keeping Tyler Lockett in Seattle was incredibly important. He may not have the stats of DK Metcalf - although somehow, people forget that it was Lockett who led the team in catches last year, not number 14 - but there's still only one player who can consistently make the plays that Lockett can. Even in the rare times he fails, he bounces back. Happily, we'll get at least one more season of game-saving plays, courtesy of the gifted hands of Tyler Deron Lockett.