Yeah, people confuse the salary cap number with the actual amount paid. Pickett has been paid around $8.1 million for this year. Next season will be the year that he makes the least in terms of actual cash paid out during the course of the year, $1.34 million.
But the big deal is in getting to year five faster, especially for a quarterback. For instance right now, if Joe Burrow and Justin Herbert have their fifth year options picked up they will make $30.4 million in year five. Tua Tagovailoa did not make a Pro Bowl, so his number is $22.4 million. Jordan Love, because he didn't meet any of the "escalator" numbers for Pro Bowl or playing time, will get $19.6 million. So for Pickett, that fifth year option, because of contract inflation, is going to be worth a minimum of well over $20 million. And since the only way he isn't going to meet the playing time bump would be if he has at least one major injury that causes him to miss time, he'll probably be in line for something like $25 million.
Makes NIL money look like peanuts, doesn't it?