How Much Will Kenneth Walker III's Next Contract Be Worth?

Seattle Seahawks running back Kenneth Walker III was named Super Bowl LX MVP after he helped spearhead a 29-13 blowout win over the New England Patriots. Walker is on an expiring contract. His performance ensured he'll possess leverage in negotiations with the Seahawks this offseason.

Walker rushed for 135 yards via 27 carries. He also accumulated 26 additional yards via two receptions through the air. Walker also helped create some Super Bowl history in his MVP performance, becoming the third player in Super Bowl history with multiple 25-plus yard rushes.

It placed an appropriate bow on an unbelievable postseason for Walker. The former Michigan State standout gained 417 total yards and scored four touchdowns in three playoff games. Walker was the correct choice for Super Bowl MVP, as he was Seattle's best overall player on Sunday and during the postseason.

Walker peaked at the opportune time. He was not necessarily this dominant throughout the entire regular season. In fact, the Seahawks used Walker and Zach Charbonnet as more of a one-two punch.

Walker led the Seahawks in rushing with 1,027. Charbonnet wasn't far behind with 730 yards. Charbonnet had a team-high 12 rushing touchdowns as the preferred short-yardage back, with Walker only managing five rushing scores in 17 games.

Walker out-carried Charbonnet 221-184 during the season. He didn't establish himself as the workhorse until Charbonnet suffered a season-ending torn ACL in the divisional round victory over the San Francisco 49ers. Walker took full advantage of the opportunity to dominate touches in the backfield.

Walker's rookie contract will officially expire in March. The 41st overall selection in the 2022 NFL Draft earned a base salary of $1.8 million this season. Walker is obviously due for a massive raise in pay as he approaches free agency.

If the Seahawks can't get a deal done, Walker may be considered the prize possession of a potentially stellar running back class of free agents. Walker, Breece Hall, Rico Dowdle, and Tyler Allgeier are among the options. Seahawks general manager John Schneider does have an incentive to re-sign Walker with Charbonnet rehabbing an ACL, though.

Walker should feel comfortable demanding an extension in the neighborhood of $13.5 million per season. A three-year, $40.5 million extension feels well within reason. That would make Walker the fifth-highest paid back in the NFL on an annual basis, trailing just Saquon Barkley, Derrick Henry, Christian McCaffrey, and Jonathan Taylor. The overall value would be fifth-richest among running backs as well.

The Seahawks are equipped with approximately $73.2 million in cap space, according to Over The Cap. Schneider possesses the financial flexibility required to negotiate a Walker extension. Alternatively, the franchise tag is an option if the Seahawks are uncomfortable discussing a long-term deal with Walker. The rough number for the franchise tag at running back is $14.5 million, per Spotrac.

Schneider can probably complete a Walker extension for less annually than the franchise tag value, though it would come with a larger long-term commitment (and a lower cap hit). Only the Seahawks can navigate that question. As Super Bowl LX MVP, Walker has earned a long-term extension that would make him a top-five paid back in the NFL.