Lance, the No. 3 overall pick, signed his fully guaranteed four-year, $34.1 million contract with the 49ers and is set to practice for the first time in training camp.
The announcement was made by his agency, CAA Football.
— CAA Football (@CAA_Football) July 28, 2021
The Jets practiced for the first time Wednesday without Wilson, who didn’t report with the rest of the team on Tuesday because of his contract situation.
Wilson’s contract is slotted at $35.15 million over four years, including a $22.9 million signing bonus, but the two sides are squabbling over offset language.
The Jets include an offset in every contract, which provides financial protection if they release the player before the contract is complete. This isn’t an unusual stance. It’s believed that 30 of the 32 teams typically include an offset with contracts that have guaranteed money. The Jacksonville Jaguars and Los Angeles Rams are the only teams that typically don’t include offset language in their contracts.
An offset clause allows a team to cut a player before the end of his four-year contract is completed and have the remaining money reduced by the amount of his next contract. This is deeply rooted in the Jets’ negotiating philosophy, and they don’t want to create a precedent.
Without an offset, a cut player collects the guarantee from his old team, plus the money he receives from his new team — aka double dipping.
ESPN’s Rich Cimini contributed to this report.
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