Will Levis' nightmarish slide down draft boards has finally come to an end, with the Kentucky quarterback going to the Titans 33rd overall on Day 2 of the 2023 NFL Draft.
Whether Levis lives up to that selection remains to be seen, though some have argued — including former No. 2 pick Ryan Leaf — that his slide is a blessing in disguise, even as nationwide audiences saw his frustration in the green room. Regardless, the only thing left for Levis now is to get to work.
Levis' slide into the second round was costly in terms of his rookier contract, compared to what he might've made had the Titans made him their selection in the first round.
Why does that matter? Because it significantly affects the salary he will earn on an NFL roster under the league's rookie wage scale.
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While the money Levis earns is still a life-changing amount, it's a significant drop compared to what his first-round contemporaries will make. With that, The Sporting News looks into how much money Levis will make as a second-round draft pick, and why:
How much money will Will Levis make?
According to estimates from Spotrac, Levis' four-year contract has a projected total value of $9.54 million. That includes a signing bonus of $3.94 million and 2023 cap hit of $1.73 million.
Compare that to Chiefs rookie defensive end Felix Anudike-Uzomah, the 31st and final pick of Thursday's first round. Despite being taken two spots ahead of Levis, his contract as a first-rounder is more valuable: It's estimated to be $11.81 million in total value, with a roster bonus of $5.59 million and cap hit of $2.14 million in 2023.
MORE: Winners, losers of 2023 NFL Draft's first round
The reasoning behind Levis' relatively undervalued contract compared with other 32nd overall picks is the fact he's a second rounder, which under the rookie wage scale, enacted in 2011, caps the money he can make in comparison with first-rounders.
Projected 2023 rookie wage scale
A Friday report from Sportico indicates the NFL saw only a 1 percent increase in the rookie wage scale in 2023 over last season: a lingering effect of the 2020 COVID-19 season, when the NFL saw an 8 percent year-over-year decrease in revenue as games were played with stadium capacity restrictions.
The league and NFLPA agreed to "borrow" money from future rookie draft pools to prevent a decline in rookie deals at the time, explaining the 1 percent increases in the rookie wage scale the last two seasons. Conversely, the salary cap — of which rookie wages are only a fraction — increased 14 percent in 2022 and another 8 percent in 2023.
Here is the projected total value range for each round of the 2023 NFL Draft, per Over The Cap:
- First Round: $12.27 million to $39.75 million
- Second round: $6.17 million to $9.91 million
- Third round: $5.36 million to $5.85 million
- Fourth round: $4.37 million to $4.72 million
- Fifth round: $4.09 million to $4.22 million
- Sixth round: $3.98 million to $4.06 million
- Seventh round: $3.92 million to $3.96 million
MORE: Will Levis' 2023 NFL Draft slide, explained
Being a second-round pick also removes the fifth-year option for Levis. That built-in feature, which can extend rookie contracts to a fully guaranteed fifth year, is available only to first-round selections.
The value of the fifth-year option changes depending on whether various criteria have been met. For example, a rookie with two or more Pro Bowl berths receives franchise tender, the average of the five highest salaries for a player's position in the fourth year of their contract. One Pro Bowl would earn transition tender, the average of the 10 highest salaries.
Participating in 75 percent of plays in two of the first three seasons of a rookie contract — or at least 50 percent in each of their first three seasons — would result in an average of the third-through-20th highest salaries at a player's position. First-round picks who don't meet those criteria who have their fifth-year option exercised would make an average of the third-through-25th highest salaries.
Regardless, that is not an issue Levis or any player drafted after him will need to worry about.
