Deshaun Watson may still hold the title for the most outrageous and unjustifiably expensive contract in the NFL, but he’s no longer alone in that regard. While his deal sets the benchmark for excess, as we move beyond the early weeks of the 2024 season, several other quarterback contracts are beginning to look increasingly problematic.
Let’s take a closer look and rank these contracts.
#7. Aaron Rodgers, Jets
Fully guaranteed: $93.1M
2024 cap hit: $17.1M
2025 cap hit: $23.5M
First-year can be cut for cap savings: After 2025
Aaron Rodgers has had some impressive moments with the Jets in 2024, even with their 2-3 record. However, his age and Achilles injury have also been evident, leading him to rank 26th in passer rating among 38 quarterbacks as of Week 6.
In terms of salary cap, Rodgers’ cap hit for 2024 is fairly reasonable, and the same goes for 2025. However, his contract includes void years that begin after next season, which means the Jets will face a $35 million dead cap hit in 2026. That’s not ideal.
If Rodgers can improve his play, the Jets would be more willing to take on that $36 million hit in 2026. Other teams have dealt with similar dead cap hits for quarterbacks in the past without significant financial trouble. Ultimately, the success of this deal depends on whether Rodgers can deliver better performances over the next year and a half.
#6. Daniel Jones, Giants
Fully guaranteed: $93.1M
2024 cap hit: $47.8M
2025 cap hit: $41.6M
First-year can be cut for cap savings: After 2024
Another prime-time game, another disappointing performance from Daniel Jones. The Cincinnati Bengals, known for their strong defense under Lou Anarumo, have struggled this season, ranking 30th in EPA allowed per play after the first five games of 2024.
While Jones had some decent stretches—throwing six touchdowns and just one interception from Week 2 to Week 5—it’s clear he’s not the long-term solution for the Giants at quarterback.
With a cap hit of nearly $50 million this year, Jones’s contract isn’t paying off. Although his cap hit will drop to just under $42 million in 2025, the Giants could part ways with him after this season.
If they do so using a traditional release before June 1, it would result in a $22 million dead cap hit, leaving them with over $19 million in cap space. In today’s NFL, that’s manageable. This situation is why Jones finds himself at No. 6 on this list.
#5. Tua Tagovailoa, Dolphins
Fully guaranteed: $93.1M
2024 cap hit: $1.1M
2025 cap hit: $39.4M
First-year can be cut for cap savings: After 2025
When Tua Tagovailoa is healthy during the regular season, he’s among the most efficient passers in the NFL. This is well-established, and the evidence supports it. He led the league with a quarterback rating of 105.5 in 2022, despite missing four games due to injury, and threw for the most passing yards in the league last season, amassing 4,624 yards.
However, staying healthy is the key concern for Tagovailoa. Miami signed him to a four-year extension, fully aware that another concussion could jeopardize his career. He reportedly aims to return this season once he’s medically cleared, which is his choice. The question remains: what happens when he steps back onto the field?
It’s important to note that Tagovailoa has an additional $74 million guaranteed for injury only in the 2026 and 2027 portions of his contract. If he suffers another concussion and an independent doctor determines that he can no longer play, the Dolphins will be responsible for that $74 million.
#4. Derek Carr, Saints
Fully guaranteed: $60M
2024 cap hit: $12.6M
2025 cap hit: $51.4M
First-year can be cut for cap savings: After 2024
Derek Carr’s fully guaranteed contract is reasonable, but the New Orleans Saints face challenges if they consider releasing him before the 2025 season. While they could save $1.3 million by doing so, they would incur a hefty $50.1 million dead cap hit. Without creative financial management, it’s likely Carr will remain on the roster for at least another year. If the contract stays intact, releasing him before 2026 would save the Saints $28.6 million, giving them a net gain of $32.7 million.
However, the $51.4 million cap hit is significant, and with three void years already on Carr’s deal, the Saints have limited flexibility. Restructuring could create even more dead cap in the future, which isn’t ideal for sound financial management.
Although Carr previously played well enough to justify his deal, his impressive performances in Weeks 1 and 2 lose some luster when considering the weaknesses of the Panthers and Cowboys’ defenses. As Carr approaches 34, it’s clear what type of quarterback he is. His contract isn’t dreadful due to the potential for a short-term exit, but it certainly isn’t a bargain either.
#3. Trevor Lawrence, Jaguars
Fully guaranteed: $146M
2024 cap hit: $15M
2025 cap hit: $17M
First-year can be cut for cap savings: after 2027
The Jacksonville Jaguars face more issues than just Trevor Lawrence’s performance. As a former No. 1 overall pick with a new five-year contract extension, Lawrence needs to step up his game in 2024. Jacksonville currently ranks last in expected points added (EPA) per dropback, a concerning stat given that Lawrence is the starting quarterback.
While Lawrence’s contract is manageable—his cap hit won’t exceed $40 million until 2028—this keeps him from being a top concern. After that, his cap hit will jump to $78 million, which could become the standard for franchise quarterbacks by then. If he doesn’t meet expectations, the Jaguars could release him for a $21 million dead cap hit, saving $57.5 million.
Lawrence also avoids the top spot on this list due to his age; at just 25 years old, he still has time to improve his performance.
#2. Dak Prescott, Cowboys
Fully guaranteed: $129M
2024 cap hit: $44.6M
2025 cap hit: $89.9M
First-year can be cut for cap savings: after 2025
Want a prime example of how quickly opinions on a player can change in the NFL? Look at Dak Prescott, his contract, and the Cowboys. Just three months ago, Prescott was seen as a sympathetic figure after tossing a league-high 36 touchdowns in 2023, yet now, following another home defeat, buyer’s remorse appears to be setting in for Dallas.
If the Cowboys cut Prescott after 2025, they’d incur a hefty $61 million dead cap hit but save $6.6 million. This means he must remain Dallas’ starter through 2026. After that season, they could save $28.3 million while facing a $33 million dead cap hit. Given the staggering nearly $90 million cap hit next year, the Cowboys will likely need to restructure Prescott’s contract before next season, pushing more money into the future.
While Prescott has shown promise, his age (31) and the expensive structure of his deal—which could take up 30% of the Cowboys’ cap next season—land him at No. 2 on this list of concerns.
#1. Deshaun Watson, Browns
Fully guaranteed: $230M
2024 cap hit: $27.9M
2025 cap hit: $72.9M
First year can be cut for cap savings: N/A
Deshaun Watson’s contract remains the worst in football until he departs from the Cleveland Browns, and it’s unclear when that will happen. The deal has no easy outs, and once it voids after the 2026 season, the Browns will face nearly a $27 million dead cap hit with no savings.
Next year, Cleveland has a nearly $73 million cap hit for Watson. The question is whether they will leave it as is or restructure the deal, which would reduce the immediate hit but push more money into the future. Keeping Watson on the roster for any longer than necessary seems unwise.
Currently, Watson is averaging a league-low 5.1 yards per attempt after Week 6 and has been sacked 11 times more than the second-most sacked quarterback. From any perspective, he’s playing like the worst quarterback in the NFL. The fully guaranteed nature of his contract only exacerbates this situation, placing him at the top of the list of concerns for the Browns.
