Jun 11, 2026; Berea, OH, USA; Cleveland Browns quarterback Deshaun Watson (4) during minicamp at CrossCountry Mortgage Campus. Mandatory Credit: Ken Blaze-Imagn Images

Jul 9, 2026, 11:00 AM CUT

Deshaun Watson’s $230 million deal named the “worst transaction” in NFL History

The Cleveland Browns took a big risk by trading for Deshaun Watson in 2022, and he cost them more than he is worth. NFL expert Mike Florio explained why that contract is a cautionary tale for front offices.

“One of the worst transactions in NFL history when you consider what the Browns gave up,” the NFL expert said on July 7. “Five years fully guaranteed, 46 million a year, that’s the headline.”

In 2022, the Browns and the Houston Texans engaged in a lopsided trade. The Texans gave away Watson and a 2024 sixth-round pick. The Browns, on the other hand, offered more for the quarterback.

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They gave away:

2022 first-round pick (No. 13), 2022 fourth-round pick,
2023 first-round pick, 2023 third-round pick,
2024 first-round pick, and a 2024 fourth-round pick.

Apart from that, the Browns signed Watson with a guaranteed five-year contract, worth a whopping $230 million. Florio made his comments recently after he reported a development related to Watson’s contract.

“Even with all that, out of 230 million, you get more than 88 million back. That’s pretty good,” he said in an episode of Pro Football Talk, but more on that later.

In 2020, ge recorded 4,823 passing yards for 33 passing touchdowns and was expected to replicate that performance for the Browns. Despite his 11-game suspension in 2021, the Browns believed Watson's 2020 form justified the gamble.

But in four years, he played just 19 games. He sustained a season-ending injury in October 2024 and was absent from the 2025 season entirely after hurting himself again.

Watson has amassed 3,365 passing yards in all his seasons with the Browns. He proved to be a bad investment, and franchise owner Jimmy Haslam even called him a “swing and a miss” trade in April 2025.

However, Haslam will be able to mitigate some of their losses.

Mike Florio reports the recovery of $88 million in cap credits from Deshaun Watson from his contract

On July 7, Mike Florio said that Watson’s injuries have resulted in more than $88 million in the franchise’s cap credits.

“The insurance provision was in the contract the moment it was signed,” Florio reported. “Insurance addendum allows Browns to purchase insurance that would give them, up to certain specific amounts of money based upon injuries that happened.”

However, a contradicting report by Over the Cap said that the Browns can recover less than $10 million.

“The amounts listed below are the revised prorated bonus amounts, AFTER the credit was applied,” Troy Chapman wrote in an X post, which included a screenshot. “There are other savings from base salary amounts as well on top of the $9.8m.”

The yearly amounts were the revised prorated bonus amounts. The actual savings from cap credits are the result of subtracting from the original amounts, which is $9.834 million.

Deshaun Watson is caught up in a QB 1 race in the Browns in his final season under the contract. Whether it fares well for him and the team is to be seen.

Written by

Akanksha Biradar