The Seattle Seahawks retained 2018 first-round pick Rashaad Penny for at least this upcoming season. This didn’t look like a remote possibility as recently as November 2021, but his late season surge was so outstanding that it felt like keeping Penny around was going to be a priority for Seattle.
Penny agreed to a one-year deal and confirmed at Monday’s press conference that he turned down more money to stay with the Seahawks on a contract that will pay him up to $6.5 million. Doug Kyed has the contract info:
#Seahawks RB Rashaad Penny: one year, $5.75M contract with $6.5M max value.— Doug Kyed (@DougKyed) March 22, 2022
$4M signing bonus
$5.070M total guarantee
$1.070M fully guaranteed salary
$40k per game roster bonus
Up to $750k rush yards, receiving yards, TD incentives
Penny’s cap number is $5,470,000, which at the moment is 9th highest on the Seahawks roster when you take out Carlos Dunlap’s release with a post-June 1st designation. Chris Carson’s cap number is $6,100,000 but none if his salary is guaranteed.
Assuming the OverTheCap tracker is accurate, the Seahawks rank 6th in running back spending for the 2022 season when you add in DeeJay Dallas, Travis Homer, etc. on the depth chart. Of course, their long-term committed spending is very low when you consider Penny has just a one-year deal, Carson’s 2023 is a void year, and Travis Homer is a free agent after this season.
As for Penny, he’s got a one-year bag but the hope for him is that he can stay healthy, carry over his late 2021 success into 2022 and secure a bigger bag in the next free agent window... whether with the Seahawks or elsewhere.