NFL fifth-year option tracker: deadline arriving for decisions on 2023 draft class
TL;DR
May 1 is the deadline for NFL teams to exercise fifth-year options for the 2023 draft class. First-round picks have significant pay increases tied to their performance and position.
Key points
- May 1 is the deadline for fifth-year options.
- First-round picks have four-year contracts with a fifth-year option.
- Fifth-year options have significant pay increases.
- Bryce Young's fifth-year option is projected at $25.9 million.
- Teams can negotiate long-term extensions after exercising options.
The next notable date in the NFL offseason is May 1 — the deadline for teams to exercise fifth-year contract options for the draft class of 2023.
First-round draft picks sign four-year deals in the NFL, and teams have a fifth-year option on each for the 2027 season. These fifth-year options come with significant pay jumps designated by the collectively bargained rookie wage scale. The value of the options are based on a player’s position, performance and availability through the first three seasons of his contract.
For example, quarterback Bryce Young, the No. 1 pick of the 2023 draft, signed a four-year rookie deal with the Carolina Panthers valued at $38 million. Per Spotrac, the projected fifth-year option on his deal is valued at $25.9 million, more than double that of his $12.1 million salary from Year 4 of his contract.
Teams that exercise options maintain the ability to negotiate a long-term extension with players, and some already have. How teams handle the fifth-year option is generally a good indicator of a player’s success through his first three seasons.
Here’s how teams are handling fifth-year options for each of the 31 2023 first-round picks. There was no 32nd first-round pick in the 2023 draft. The Dolphins forfeited their pick due to tampering with Tom Brady and Sean Payton.
Option projections courtesy of Spotrac
No. 1: Bryce Young, QB, Carolina Panthers
$25.9 million option expected to be exercised: General manager Dan Morgan said in January and again before the draft last week that the Panthers will pick up Young’s option before Friday’s deadline.
No. 2: C.J. Stroud, QB, Houston Texans
$25.9 million option reportedly exercised
No. 3: Will Anderson, EDGE, Houston Texas
$21.5 million option exercised: The Texans also signed Will Anderson to a three-year, $150 million extension through the 2030 season that makes him the highest-paid non-quarterback in the NFL based on annual salary.
No. 4: Anthony Richardson, QB, Indianapolis Colts
$22.5 million option not exercised. The Colts are all-in on Daniel Jones, and Richardson is on the trade block.
No. 5: Devon Witherspoon, CB, Seattle Seahawks
$21.2 million option exercised
No. 6: Paris Johnson, OT, Arizona Cardinals
$19.7 million option exercised
No. 7: Tyree Wilson, EDGE, New Orleans Saints (drafted by Raiders)
$14.5 million option reportedly declined by Saints after trade
No. 8: Bijan Robinson, RB, Atlanta Falcons
$11.3 million option exercised
No. 9: Jalen Carter, DT, Philadelphia Eagles
$27.1 million option exercised
No. 10: Darnell Wright, OT, Chicago Bears
$19.1 million option exercised
No. 11: Peter Skoronski, G, Tennessee Titans
$19.1 million option reportedly exercised
No. 12: Jamhyr Gibbs, RB, Detroit Lions
$14.3 million option reportedly exercised
No. 13: Lukas Van Ness, EDGE, Green Bay Packers
$14.5 million option not exercised/TBD
No. 14: Broderick Jones, OT, Pittsburgh Steelers
$19.1 million option expected to be declined: Jones underwent spinal fusion surgery in December, and his long-term prognosis is unclear. The Steelers, meanwhile, spent first- and third-round picks in last week’s draft on offensive tackle Max Iheanachor and guard Gennings Dunker.
No. 15: Will McDonald, DE, New York Jets
$14.5 million option expected to be exercised, per GM Darren Mougey
No. 16: Emmanuel Forbes Jr., CB, Los Angeles Rams (drafted by Commanders)
$12.6 million option not exercised/TBD
No. 17: Christian Gonzalez, CB, New England Patriots
$18.1 million option reportedly exercised
No. 18: Jack Campbell, LB, Detroit Lions
$21.3 milllion option reportedly declined: Per reports, the price tag was considered too high by the Lions to exercise the option for an off-ball linebacker despite Campbell’s selection as an All-Pro last season.
No. 19: Calijah Kancey, DT, Tampa Bay Buccaneers
$14.5 million option reportedly exercised
No. 20: Jaxon Smith-Njigba, WR, Seattle Seahawks
$23.8 million option exercised: Smith-Njigba also signed a four-year, $168.6 million extension through the 2031 season, making him the highest-paid wide receiver in the NFL based on annual salary.
No. 21: Quentin Johnston, WR, Los Angeles Chargers
$16.5 million option exercised
No. 22: Zay Flowers, WR, Baltimore Ravens
$27.3 million option exercised
No. 23: Jordan Addison, WR, Minnesota Vikings
$18 million option exercised
No. 24: Deonte Banks, CB, New York Giants
$12.6 million option not exercised/TBD
No. 25: Dalton Kincaid, TE, Buffalo Bills
$8.1 million option exercised
No. 26: Mazi Smith, DT, New York Jets (drafted by Cowboys)
$13.9 million option not exercised/TBD
No. 27: Anton Harrison, OT, Jacksonville Jaguars
$19.1 million option exercised
No. 28: Myles Murphy, EDGE, Cincinnati Bengals
$14.5 million option not exercised/TBD
No. 29: Bryan Bresee, DT, New Orleans Saints
$13.9 million option reportedly exercised
No. 30: Nolan Smith, EDGE, Philadelphia Eagles
$13.8 million option exercised
No. 31: Felix Anudike-Uzomah, EDGE, Kansas City Chiefs
$14.5 million option not exercised/TBD
Q&A
What is the deadline for NFL teams to exercise fifth-year options for 2023 draft picks?
The deadline is May 1, 2024.
How much is the projected fifth-year option for Bryce Young?
The projected fifth-year option for Bryce Young is valued at $25.9 million.
What factors determine the value of a player's fifth-year option in the NFL?
The value is based on a player's position, performance, and availability during the first three seasons of their contract.
What happens if an NFL team exercises a fifth-year option?
Exercising a fifth-year option allows teams to negotiate a long-term extension with the player.