What is a fifth-year option in the NFL? Exploring details around the league's rookie contracts

Ahead of the 2024 NFL season, a host of franchises have picked up the fifth-year options of their 2021 draftees.

Trevor Lawrence and Micah Parsons got their options picked up while Zach Wilson, Najee Harris, Justin Fields, and Mac Jones didn't.

In this article, we explore the intricacies of the fifth-year option in the NFL.

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What is a fifth-year option in the NFL?

A fifth-year option in the NFL is a clause in the contract of a first-round draft pick that allows a franchise to keep the player around for an extra year. This option is only open for first-round draft picks, with the rest of the draft class having simple four-year rookie deals.

Fifth-year options have quite the kicker, as first-round picks have contracts that are relatively inexpensive for the first four seasons. However, the player's earnings skyrocket in the fifth year.

For instance, the first overall pick of the 2020 NFL Draft, Joe Burrow, earned $11.5 million in the fourth year of his contract. The Cincinnati Bengals picked up his fifth-year option, and he made $29.5 million in year five.

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What happens if the 5th year option is not picked up?

If a first-round pick's fifth-year option is declined, the player becomes a free agent after his fourth year in the NFL. That means the player can negotiate with any team ahead of his fifth year in the league.

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Fifth-year option salary

Players who get their fifth-year options picked up stand to get a significant pay rise in year five. This pay rise is calculated based on various factors.

First off, a player who has earned more than one Pro Bowl nod in his first four seasons in the NFL is eligible for a salary based on the franchise tag cost of a player at that position. However, a player who earns a single Pro Bowl nod in the same time frame makes the equivalent of their position's transition tag cost.

Furthermore, if the player doesn't make a single Pro Bowl, playing time comes into the picture. In that case, players who feature in 75% plus of possible snaps during all three seasons or a minimum of 50% of possible snaps all three seasons get a salary that's the average of the third-20th highest-paid players at the position over the last five seasons.

Lastly, first-round picks who do not meet any of the above criteria stand to make the average of the 3rd-25th highest salaries over the past five seasons.

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Fifth-year option deadline 2024

The fifth-year option deadline for 2024 was Thursday, May 2, 2024. The window began on January 8, 2024.

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2024 5th-year option tracker for 2021 draftees

Here's a look at the fifth-year options ahead of the 2024 NFL season

Pick	Team (Draft team)	Player	Position	Option Picked?
1	Jaguars	Trevor Lawrence	QB	Yes
2	Broncos (Jets)	Zach Wilson	QB	No
3	Cowboys (49ers)	Trey Lance	QB	No
4	Falcons	Kyle Pitts	TE	Yes
5	Bengals	Ja'Marr Chase	WR	Yes
6	Dolphins	Jaylen Waddle	WR	Yes
7	Lions	Penei Sewell	OL	Yes
8	Panthers	Jaycee Horn	DB	Yes
9	Broncos	Patrick Surtain II	DB	Yes
10	Eagles	DeVonta Smith	WR	Yes
11	Steelers (Bears)	Justin Fields	QB	No
12	Cowboys	Micah Parsons	LB	Yes
13	Chargers	Rashawn Slater	OL	No
14	Jets	Alijah Vera-Tucker	OL	Yes
15	Jaguars (Patriots)	Mac Jones	QB	No
16	Cardinals	Zaven Collins	LB	No
17	Raiders	Alex Leatherwood	OL	Released
18	Dolphins	Jaelan Phillips	DL	Yes
19	Commanders	Jamin Davis	LB	No
20	Chiefs (Giants)	Kadarius Toney	WR	No
21	Colts	Kwity Paye	DL	No
22	Titans	Caleb Farley	DB	No
23	Vikings	Christian Darrisaw	OL	Yes
24	Steelers	Najee Harris	RB	No
25	Jaguars	Travis Etienne	RB	Yes
26	Browns	Greg Newsome II	DB	Yes
27	Ravens	Rashod Bateman	WR	Extension
28	Saints	Payton Turner	DE	No
29	Packers	Eric Stokes	DB	No
30	Bills	Gregory Rousseau	DL	Yes
31	Ravens	Odafe Oweh	DE	Yes
32	Buccaneers	Joe Tryon-Shoyinka	OLB	No