The NFL calendar is buzzing with anticipation as the May 1 deadline approaches for teams to decide on fifth-year options for the 2023 first-round draft class. This pivotal decision could shape roster dynamics and salary cap strategies for years to come, making it a hot topic for fans and analysts alike.
It’s hard to believe that stars like Bryce Young, CJ Stroud, and Will Anderson Jr. have already spent three seasons in the league. Time flies in the NFL, and now teams must weigh their futures. If a fifth-year option is exercised, the player remains under contract through the 2027 season. If not, 2026 marks the end of their rookie deal. This delicate process is a blend of performance evaluation, financial planning, and long-term vision.
Under the 2020 Collective Bargaining Agreement, first-round picks get an extra year added to their standard four-year rookie contract. The fifth-year salary is determined by four tiers: Basic, Playtime, One Pro Bowl, and Multiple Pro Bowls. Once exercised, that salary becomes fully guaranteed, and any unguaranteed base salary from the player’s fourth year also locks in, according to OverTheCap.com. It’s a financial chess move that can make or break a team’s cap space.
Take Seattle Seahawks cornerback Devon Witherspoon, for example. His option was exercised at a basic salary of $12.6 million, but with three Pro Bowl appearances under his belt, that figure jumps to $21.1 million. Teams often negotiate extensions during the fourth season, so players like Witherspoon and Young could be in line for new deals this year. For Will Anderson Jr., the Houston Texans not only exercised his option but also signed the All-Pro to a massive three-year, $150 million extension, making him the highest-paid non-quarterback in the league. That’s a bold statement of confidence.
Getting these deals done early can ease the immediate cap hit from the guaranteed fifth-year salary. The Detroit Lions set a great example last year, exercising Aidan Hutchinson’s option on April 25 and then locking him into a four-year, $180 million extension by October. Expect similar moves across the league as teams scramble to secure their young talent before the season heats up.
Looking at the players whose options have already been exercised, we can start gauging who might earn that coveted second contract with their team. Bryce Young, for instance, had his option exercised back in January of this year, signaling the Panthers’ commitment to their franchise quarterback. As the deadline looms, every decision tells a story about a team’s confidence in its draft picks and its vision for the future.