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The Chiefs made a big splash on Monday, signing Joe Thuney to a five-year, $80 million deal. Here’s the full breakdown of the deal, which as a practical matter is a three-year, $48 million deal with a team option for the final two seasons at $16 million per.
Signing bonus: $17 million.
2021 base salary: $990,000, fully guaranteed at signing.
2022 base salary: $13.9 million, fully guaranteed at signing.
2023 base salary: $15 million, guaranteed for injury at signing but fully guaranteed on the third day of the 2022 league year.
2024 base salary, $15.5 million, $2 million of which is fully guaranteed on the third day of the 2024 league year.
2025 base salary, $15.5 million, $2 million of which is fully guaranteed on the third day of the 2025 league year.
The contract includes a $110,000 workout bonus for 2021, and $500,000 workout bonuses for 2022 through 2025.
To avoid owing Thuney $48 million over three years, the Chiefs would have to cut him after one season — at a cost of $32.5 million.
