Browns sign QB Shedeur Sanders to his rookie contract

Sanders, the 144th overall selection in last month’s draft, will earn $4.6M on his first NFL contract, according to NFL Network’s Tom Pelissero, including a $447,380 signing bonus. Like all fifth-round picks, he did not receive any guaranteed money beyond his signing bonus.

Once projected to be a first-round pick, the former Colorado star lost out on millions of dollars after falling all the way to Day 3. In comparison, the last pick in the first round, Josh Simmons, signed a fully-guaranteed rookie contract with the Chiefs worth $14.7M. Even if Sanders was drafted on Day 2, he would have received a significantly better deal in terms of total value and guaranteed money.

However, Sanders still has far more earning potential than the average fifth-round pick after signing endorsement deals with several major brands, including Nike and Beats By Dre. Those sponsorships started during Sanders’ time at Colorado and continued throughout the pre-draft process, indicating that they will carry over into his NFL career. However, it’s unclear how long they will last; Sanders may have to win a starting job in Cleveland to earn further extensions.

If Sanders does emerge as the Browns’ starter on his rookie deal, he would immediately be one of the most cost-effective quarterbacks in the NFL. His $1.16M APY is less than what Easton Stick and Jarrett Stidham are earning as potential third-string quarterbacks for the Falcons and the Broncos this year, per OverTheCap.

Whether it’s Sanders or third-round pick Dillon Gabriel, a cheap long-term option under center would go a long way in helping Cleveland move forward financially after the disastrous Deshaun Watson deal. His contract still has $170M remaining in fully-guaranteed money, all due across the next three years.