On Friday, the Detroit Lions and wide receiver/punt returner Kalif Raymond agreed on a new contract extension, adding two years and $10 million—including over $8 million in guarantees—onto his existing deal. While the new contract added dollars and years onto his deal, it actually saved the team salary cap space this season.
Raymond was entering the final year of his contract and was originally slated to cost just over $3M against the 2023 salary cap. But after being named to the NFL’s 2022 All-Pro team as a punt returner, an escalator was activated in his contract, awarding him with an additional $1M bonus, and a new salary cap hit of just over $4M—the highest salary cap hit amongst the wide receiver group at the time.