*Check out the full 2024 offseason guide for insight on other coaching and roster moves for the Eagles.*
Haason Reddick has been the Eagles best defensive player since he arrived in Philadelphia in 2022. He now enters 2024 on the last year of his contract. What happens with Reddick is anyone’s guess, but there are several different scenarios that can play out.
THE RETURN OF REDDICK
Let’s be clear, Haason Reddick wants to return to the Eagles. He made that much clear when talking to reporters following the team’s playoff loss to the Buccaneers.
Having said that, Reddick has also hinted that he wants to be paid like one of the top pass rushers in the NFL. And for good reason. He’s been one of the best edge rushers in the NFL over the past four seasons. Reddick and Myles Garrett are the only two pass rushers with 11 or more sacks each season since 2020.
Right now, Reddick’s contract ($15M/year) is tied for 21st in regards to the average annual value (AAV).
Here are the contract values by AAV among the top 10 highest paid edge rushers.
Reddick certainly deserves to be among the top 10 in contract value. Where he ranks in the top 10 definitely matters though. If you haven’t read my article discussing whether Haason Reddick is an elite edge rusher, take a look as it provides much needed context to the contract situation.
Reddick isn’t nearly as productive as the elite edge rushers in the NFL on a down to down basis. And considering he is going to be 30 this upcoming season, I find it hard to believe that Reddick is going to command a contract that would put him in the top five of edge rusher contracts.
Of the top 10 edge rushers in AAV, only Watt, Mack and Hendrickson will be over the age of 30 at any point in the 2024 season. Mack is very likely to be cut and Watt has been much more productive than Reddick. Although he isn’t going to be 30, I wouldn’t rule out Joey Bosa getting cut or traded either, or at the very least, have his contract restructured.
In my piece discussing Reddick’s merit as an elite edge rusher, you’ll see that Reddick and Hendrickson have had similar impacts over the past four seasons. I think Reddick deserves a contract in the same range as Hendrickson. That would put him on the cusp of the top 10 in AAV among edge rushers. That seems like a fair price for both sides.
ONE LAST RUN
Let’s look at the scenario where Reddick plays out his current contract and hits free agency in 2025.
Reddick’s current cap hit is $21.4M. If he doesn’t return, then he’ll also have a dead cap hit of $13.7-14.7M in 2025 (Spotrac and Over the Cap have different numbers).
The Eagles could theoretically convert some of his base salary to a signing bonus and open up north of $10M in cap space this season, but that would just add $10M to his dead cap next year. Doesn’t make sense.
If Reddick did sign a contract extension, his $13-14M cap hit in 2025 would be much less.
For example, Trey Hendrickson signed a one-year extension with the Bengals for $21M with an $8M signing bonus. If Reddick signed a similar contract to Hendrickson, his cap hit next season would be around $8.6M. You’re still kicking the can down the road, but you’re bringing back the Eagles best defender while also reducing his 2025 cap hit, something that may be a dilemma for the Eagles next offseason.
TRADING PLACES
Let’s look at one more scenario – trading Reddick. I’m not saying it’s going to happen, but there is some merit to moving him.
If the Eagles don’t plan on bringing Reddick back next season – whether Reddick is asking for more money than they’re willing to give, or for other reasons – then trading him makes the most sense. If Reddick is traded BEFORE June 1st, he frees up $1.2-2.2M in 2024 (Over the Cap vs Spotrac). The biggest saving happens the following season; his $13-14M dead cap hit will be $0.
This free agent class has a number of young, up and coming edge rushers that will likely be cheaper than Haason Reddick. Those edge rushers are on a similar career trajectory as Reddick, just at a younger age. They have been very efficient during their rookie contracts, and look poised to break out with an increased role.
The Eagles have plenty of cap space for 2024, but like I mentioned in the Eagles 2025 cap space article, next season is where they’re likely to be more hindered. And with the way the Eagles structure contracts, any free agent signed in 2024 will have a low cap hit their first season before escalating the following years.
If Reddick is traded, it’s possible they land a future second-round pick, though the Eagles will probably need to add something to the trade as well. Otherwise, they’re probably getting a third-round pick plus a little extra back in return. The Eagles could also see if they could swap Reddick for a player at a position of need, such as linebacker or safety.
If they let Reddick walk after 2024, they’ll likely get a comp pick in return. But he’ll be heading into free agency at the age of 31, so I’m not sure he would garner the best comp pick available (third rounder). Comp picks are also at the END of the round, you can only get one pick in return and the Eagles wouldn’t get to use that comp pick until the 2026 draft.
Moving on from a player so beloved by the organization and fan base is never easy, but if we’re being shrewd, this is a young man’s game. Handing out big contracts to players over the age of 30 usually doesn’t end well.
If Reddick is traded, then I would expect Sweat to re-sign (he’d be younger and cheaper than Reddick) and I’d expect the Eagles to go after one of the top free agent options. But I wouldn’t look at trading Reddick until after they sign one of those free agents. The Eagles don’t want to be in a position where they trade Reddick and then HAVE to sign a free agent.
I also wouldn’t be surprised if the Eagles sign one of the young free agents and then let Reddick walk after the season and collect a comp pick down the road. The Birds need a productive third edge rusher anyway, and this team still has an open Super Bowl window with some tweaking of the roster. They have the cap space to make such a move.
Ultimately, if Reddick is fine signing a two- or three-year contract (with an out after the second season) that puts him on the cusp of the top 10 edge rushers in AAV, then I’d be all for re-signing him. If he believes that he can get a contract in the $25M+ range, then I’d seriously consider signing one of the younger free agents and then looking for a trade.
One thing is clear though, Howie Roseman has a lot to figure out this offseason and how they handle Haason Reddick’s contract will likely have the biggest influence on the rest of the moves they make.
