In the world of NFL contracts, few deals have garnered as much attention as Deshaun Watson’s with the Cleveland Browns. Signed in the spring of 2022, the contract was straightforward yet extraordinary, guaranteeing Watson $230 million over five years. But as the Browns continue to tweak the terms, the deal has evolved into one of the most unique—and potentially disastrous—contracts in NFL history.
The Structure of Watson’s Original Contract
Watson’s original contract with the Browns was as simple as it was unprecedented. The deal guaranteed him $230 million over five years, paying out exactly $46 million each year. There were no complicated bonuses or incentives—just a $44.965 million signing bonus and a $1.035 million salary in 2022, followed by $46 million in salary for each of the 2023, 2024, 2025, and 2026 seasons. For an NFL contract, this was about as basic as it gets.
The Browns’ Dilemma: Restructuring for Cap Relief
As straightforward as the contract seemed, the Browns have now restructured Watson’s deal twice in two years, each time for short-term salary cap relief. The latest adjustment, made on Thursday, converted $44.79 million of Watson’s 2024 salary into a signing bonus, reducing his cap hit for the upcoming season from a staggering $63.774 million to $18.984 million. This move also added a “void year” in 2028, further spreading out the cap burden.
These restructurings have created immediate benefits for the Browns, giving them more than $62 million in cap space for 2024—more than any other NFL team. This financial flexibility positions Cleveland to make major moves if a key player becomes available, allowing them to pursue top talent in trades or free agency.
The Hidden Costs: Future Cap Implications
While the Browns have gained short-term flexibility, the long-term implications are dire. The 2025 and 2026 seasons now carry massive cap hits of $72.935 million each for Watson. If Watson fails to perform and the Browns decide to part ways with him after the 2024 season, they would face an astronomical $172.77 million dead-money cap charge—a figure that would be catastrophic for any team.
Even if Cleveland opted to designate Watson as a post-June 1 cut, spreading the dead-money hit over two years, they would still be looking at a staggering $86.385 million cap hit in both 2025 and 2026. To put this into perspective, the current NFL record for dead money incurred by cutting a player is the $85 million the Denver Broncos absorbed when they released Russell Wilson.
Why the Browns Are Willing to Take the Risk
Despite these alarming figures, the Browns remain committed to Watson, believing that his best football is still ahead of him. The team signed him to be their long-term franchise quarterback, and at 29 years old, there’s hope that he can regain the form that made him a star with the Houston Texans. In Cleveland’s ideal scenario, Watson rebounds in 2024, allowing the team to extend his contract and further spread out the financial burden through additional void years and other contract maneuvers.
However, the reality so far has been far from ideal. Watson’s performance since joining the Browns has been underwhelming, to say the least. He missed 11 games in the 2022 season due to suspension and struggled upon his return. In the 12 games he has started for Cleveland, Watson has completed less than 60% of his passes and thrown 14 touchdowns against nine interceptions—hardly the numbers expected from a player with such a lucrative contract.
Looking Forward: The Browns’ High-Stakes Gamble
The Browns are now entering Watson’s third season with the team, and the stakes couldn’t be higher. Watson’s struggles in training camp and ongoing shoulder issues have only added to the concerns. If he fails to turn things around, the Browns could be looking at one of the most disastrous contract situations in NFL history.
Cleveland’s front office is betting big on Watson, hoping that the quarterback who once electrified the NFL with the Texans is still in there somewhere. But as the financial risks mount, the Browns are walking a tightrope with little margin for error.
In the end, the Browns’ willingness to continually restructure Watson’s contract is a testament to their belief in his potential. But if Watson doesn’t deliver, Cleveland could be facing a financial disaster that sets the franchise back for years. As the 2024 season approaches, all eyes will be on Watson to see if he can justify the Browns’ faith—or if this contract becomes a cautionary tale for NFL teams everywhere.