Last year, the 10-year veteran signed a deal in Baltimore at a base value of $15 million with upside to $18 million. This year, his base pay with Miami will be 20% of what he got with the Ravens—just $3 million—with upside to $8.5 million.
Now, to be sure, the fact that Lamar Jackson was in the midst of a drawn-out contract negotiation and wanted Beckham aboard gave the receiver leverage to get a bit of an overpay.
So maybe that’s part of why Beckham’s getting so much less. But that's not the only reason.
One executive from a team that’s been in the receiver market and explored signing Beckham told me last week it’s clear—at least to him—that the former All-Pro, after a decade in the league and with his 32nd birthday coming in November, has lost his burst. An executive from another team who also was in the market for a receiver saw it as being a little more nuanced than that.
“I don’t know if I agree that he’s lost it so much as that he’s just older, and that’s what the market says on older players,” says the AFC exec. “He’s not always healthy, which is part of that. By the end of last year, he looked good, his legs were back. Now, does he need to play himself back into shape? The offseason stuff being in the contract would be important for me. But you’re late on that, and can’t put workout bonuses in now.
“He signed so late in Baltimore, that he had to play himself back into shape. And when he did, his burst came back, and he could still do a lot of the normal OBJ stuff.”
But even then, the numbers weren’t there. He finished with 35 catches for 565 yards and three touchdowns, and had four catches for 34 yards in two playoff games with a league MVP at quarterback. Rookie Zay Flowers was the top guy in the offense after Mark Andrews went down, and Beckham didn’t do a ton to distinguish himself from Nelson Agholor and Rashod Bateman, both of whom the Ravens have back for 2024 (with Bateman on a new deal).
Now, that’s not to say he can’t help Miami. He’s different than Tyreek Hill and Jaylen Waddle, and his ability to be a physical run-after-catch receiver is still there. Dolphins coach Mike McDaniel was in San Francisco when the 49ers flirted with acquiring Beckham, so he’s clearly had plenty of time to think about how to use him. So he went to a good place.
I’d just say it’d be smart, at this point, to temper expectations on him.
