The Eagles officially signed cornerback Riq Woolen to a contract this week and now we have the specifics of his one-year deal.
Here are some details of the one-year, $12 million deal, per OverTheCap:
• The $12 million is fully guaranteed but Woolen, as expected, has a somewhat minimal cap hit in 2026.
• Woolen’s cap hit this season is $3.408 million but he will leave $8.592 in dead cap space for the 2024 season.
• For this season, Woolen got a $6 million signing bonus and has a $6 million base salary that is being manipulated for cap purposes.
• The Eagles achieved the low cap hit by tacking on four void years to this one-year contract — which is something they do often. But according to OTC, the Eagles also used the 50% rule to prorate another $4.74 million in salary over the length of the five years (including the four void years). That creates a prorated bonus of $2.148 million in each season.
• Based on his $12 million salary, Woolen is tied as the 26th highest-paid cornerback in the NFL. For perspective, the Eagles have two All-Pro cornerbacks on their rookie deals. Quinyon Mitchell’s APY is just over $3.7 million and Cooper DeJean’s is just over $2.32 million.
• Another Eagles DB contract note: We learned during the week that the Eagles restructured the contract of Michael Carter II. His cap hit was set to be $10.1 million in 2026 with a massive base salary. The Eagles have essentially turned this into a one-year deal worth $2.765 million, per OTC. Carter’s cap hit in 2026 is just $1.42 million and he’ll leave $820,000 in dead cap space in 2027.