The Miami Dolphins made waves this offseason with the high-profile signing of wide receiver Odell Beckham Jr., securing him on a one-year deal structured with incentives that could significantly boost its overall value.
Beckham’s contract is solidified with $3 million in guaranteed money but packs the potential to escalate to $8.25 million based on performance milestones, as detailed by SI national NFL writer Albert Breer. The specific goals for Beckham to achieve the full value of his contract include amassing at least 55 receptions, 800 receiving yards, and six touchdowns during the 2024 season.
The initial structure of Beckham’s deal includes a signing bonus of $1.79 million coupled with a fully guaranteed salary of $1.21 million, rounding up the base pay to $3 million. The activation of additional incentives hinges on the Dolphins’ offensive performance, specifically their need to rank within the top 20 NFL teams in scoring – a target that seems attainable given their top rankings in the previous two seasons.
Beckham stands to earn up to $2.2 million more if he reaches 800 receiving yards, with incremental bonuses set at 566 yards and 650 yards. Similarly, receptions and touchdowns have their respective incentive ladders, which could further bolster his earnings by $2.2 million and $850,000 respectively, based on predetermined milestones in each category.
During the last season with the Baltimore Ravens, Beckham’s statistical performance fell just shy of the thresholds needed to activate his 2024 incentives, a strategic outcome that prevented these incentives from being classified as Likely To Be Earned (LTBE) and thus impacting the 2024 salary cap.
The design of Beckham’s contract maintains his cap hit at $2.1 million for the Dolphins, with any incentive achievements being applied to the 2025 cap. Beckham’s last spell of hitting similar performance benchmarks occurred in 2018 with the New York Giants, highlighting the potential for a comeback season with Miami.
The Dolphins’ receiving corps has historically had variable depth, and Beckham’s inclusion could signal a strategic shift. Under head coach Mike McDaniel and the influence of Tyreek Hill and Jaylen Waddle, the team’s third receiver spot has seen less productivity in terms of receptions. Beckham’s arrival could undoubtedly reshape the dynamics within this group, adding a new layer to the Dolphins’ offensive scheme for the upcoming season.