Alabama quarterback Bryce Young will sign a four-year contract worth about $41.217 million with a signing bonus of around $26.976 million with the Carolina Panthers after being the first player picked in the 88th NFL Draft on Thursday night.

That’s about $3.844 million more than Travon Walker signed for after the Jacksonville Jaguars selected the Georgia defensive end with the No. 1 choice in last year’s NFL Draft.

Players chosen in the first round receive four-year contracts that carry a team option for a fifth season.

MORE NFL DRAFT:

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The values of those contracts are based on the NFL’s salary cap of $224.8 million for the 2023 season and this year’s rookie compensation pool in a formula spelled out in the Collective Bargaining Agreement between the league and its players association. That makes it possible to estimate the money allotted to each draft slot (and the sports financial web site spotrac.com has done so).

Last year, the salary cap was $208.2 million.

The 2023 bump in pay extends throughout the draft. The 31st pick in last year’s first round, Michigan safety Daxton Hill, signed a $11.667 million contract with the Cincinnati Bengals. The 31st and final pick in Thursday night’s first round – Kansas State defensive end Felix Anudike-Uzomah – is looking at a $12.751 million contract.

The values of the contracts lessen as the draft goes on, of course, but they don’t decline at a standard rate. In the first round, the biggest difference between contract values is from the fifth to the sixth pick. The fifth player picked on Thursday night – Illinois cornerback Devon Witherspoon by the Seattle Seahawks — will get a contract that’s worth about $4.175 million more than that of the sixth player picked – Ohio State offensive tackle Paris Johnson Jr. by the Arizona Cardinals. That’s a difference of around $1.044 million per year over the life of the contract.

Two other Alabama players were selected in the first round on Thursday night. Linebacker Will Anderson Jr. went to the Houston Texans at No. 3, and running back Jahmyr Gibbs went to the Detroit Lions at No. 12. For Anderson, that’s about a $38.21 million contract, with $19.168 for Gibbs.

Here are the estimated four-year contract values for the 2022 NFL Draft first-round picks (with the figures from spotrac.com):

· 1. Alabama quarterback Bryce Young, Carolina Panthers: $41.217 million

· 2. Ohio State quarterback C.J. Stroud, Houston Texans: $39.38 million

· 3. Alabama linebacker Will Anderson Jr., Houston Texans: $38.21 million

· 4. Florida quarterback Anthony Richardson, Indianapolis Colts: $36.874 million

· 5. Illinois cornerback Devon Witherspoon, Seattle Seahawks: $34.535 million

· 6. Ohio State offensive tackle Paris Johnson Jr., Arizona Cardinals: $30.36 million

· 7. Texas Tech defensive end Tyree Wilson, Las Vegas Raiders: $27.019 million

· 8. Texas running back Bijan Robinson, Atlanta Falcons: $23.678 million

· 9. Georgia defensive tackle Jalen Carter, Philadelphia Eagles: $23.511 million

· 10. Tennessee offensive tackle Darnell Wright, Chicago Bears: $22.592 million

· 11. Northwestern offensive tackle Peter Skoronski, Tennessee Titans: $21.173 million

· 12. Alabama running back Jahmyr Gibbs, Detroit Lions: $19.168 million

· 13. Iowa defensive end Lukas Van Ness, Green Bay Packers: $18.667 million

· 14. Georgia offensive tackle Broderick Jones, Pittsburgh Steelers: $17.832 million

· 15. Iowa State defensive end Will McDonald IV, New York Jets: $17.498 million

· 16. Mississippi State cornerback Emmanuel Forbes, Washington Commanders: $16.495 million

· 17. Oregon cornerback Christian Gonzalez, New England Patriots: $16.161 million

· 18. Iowa linebacker Jack Campbell, Detroit Lions: $15.744 million

· 19. Pittsburgh defensive tackle Calijah Kancey, Tampa Bay Buccaneers: $15.493 million

· 20. Ohio State wide receiver Jaxon Smith-Njigba, Seattle Seahawks: $15.41 million

· 21. TCU wide receiver Quentin Johnston, Los Angeles Chargers: $15.326 million

· 22. Boston College wide receiver Zay Flowers, Baltimore Ravens: $15.159 million

· 23. Southern Cal wide receiver Jordan Addison, Minnesota Vikings: $14.992 million

· 24. Maryland cornerback Deonte Banks, New York Giants: $14.658 million

· 25. Utah tight end Dalton Kincaid, Buffalo Bills: $14.491 million

· 26. Michigan defensive tackle Mazi Smith, Dallas Cowboys: $14.324 million

· 27. Oklahoma offensive tackle Anton Harrison, Jacksonville Jaguars: $14.157 million

· 28. Clemson defensive end Myles Murphy, Cincinnati Bengals: $14.073 million

· 29. Clemson defensive tackle Bryan Bresee, New Orleans Saints: $13.403 million

· 30. Georgia linebacker Nolan Smith, Philadelphia Eagles: $13.048 million

· 31. Kansas State defensive end Felix Anudike-Uzomah, Kansas City Chiefs: $12.751 million

The NFL Draft resumes at 6 p.m. CDT Friday, when the Pittsburgh Steelers are scheduled to make the first selection in the second round.

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Mark Inabinett is a sports reporter for Alabama Media Group. Follow him on Twitter at @AMarkG1.