Dead money exists each year on each NFL roster. But it has never existed at such an eye-popping volume as it did on the Atlanta Falcons’ roster in 2022.
In dealing Matt Ryan to the Indianapolis Colts, the Falcons triggered a dead cap hit of $40.525 million, the biggest in NFL history and the biggest NFL dead salary cap hit last season. For comparison, it was nearly $35 million more than the Las Vegas Raiders’ dead money after releasing Derek Carr.
Here are the 10 biggest dead cap hits in NFL history:
10. Ryan Tannehill – Dolphins
Dead Money: $18.4 million
To no one’s surprise in April 2015, the Miami Dolphins exercised Ryan Tannehill's fifth-year option after a career-best 2014 season for the former top-10 pick. And, for the same reasons, it was no surprise the Dolphins signed Tannehill to an extension in mid-May, three weeks after exercising the option.
It was called a “low-risk, high-reward” move by then-CBS Sports NFL reporter Jason La Canfora, a sentiment largely echoed around the NFL as the Dolphins invested $45 million in guarantees in a promising fourth-year quarterback.
It proved to be high risk and low reward. After restructuring the deal in March 2018, the Dolphins took an $18.4-million dead cap hit in trading Tannehill to the Titans.
9. Nick Foles – Jaguars
Dead Money: $18.7 million
The Jacksonville Jaguars paid Nick Foles $30.5 million to start (and lose) four games in 2019.
The Jaguars, per a four-year, $88-million deal signed in March 2019, paid Nick Foles $30.5 million to not be their long-term answer at quarterback. And, amazingly, it could've been worse because his contract called for $50.1 million in guaranteed money. Upon trading him to the Chicago Bears in March 2020, they were left with an $18.7 million dead cap hit, part of the $30.5 million they paid him to complete 77 passes and throw three touchdowns.
8. Peyton Manning – Colts
Dead Money: $19.3 million
In July 2011, Peyton Manning signed a five-year, $90-million contract that presumably ensured he'd finish his career with the Indianapolis Colts. He didn't take another snap in a Colts uniform.
Manning missed the entire 2011 season and was released in March 2012 before a $28-million roster bonus was due. Even without the bonus, he was paid more than $26 million, largely thanks to a $20-million signing bonus from the five-year deal, for doing nothing in 2011.
7. Antonio Brown – Steelers
Dead Money: $21.1 million
On New Year's Day 2019, NFL Network's Ian Rapoport squashed rumors of Antonio Brown's trade request with the Pittsburgh Steelers, citing, among other reasons, $21.1 million in dead cap money if Brown was traded, or released, prior to the 2019 season.
Two months later, Brown was traded to the Oakland Raiders for a third- and fifth-round pick in the 2019 draft. The move triggered the dead cap hit as part of a four-year, $68-million extension signed in 2017 that made him the highest-paid receiver in the NFL.
6. Brandin Cooks – Rams
Dead Money: $21.8 million
In 2018, the Los Angeles Rams liked Brandin Cooks so much they invested a first- and fifth-round pick (in a trade with the New England Patriots) and $50.5 million in guaranteed money in him. At the time, it was an aggressive investment to give Jared Goff a weapon. In hindsight, it was a reckless investment that gave Goff 122 receptions over two seasons.
After acquiring Cooks in April 2018, the Rams signed him to a five-year, $80-million extension in July 2018. It was one of the worst contract decisions in American sports history, one that left the Rams $21.8 million in dead money after trading Cooks to the Houston Texans in April 2020.
5. Jared Goff – Rams
Dead Money: $22.2 million