Over the Cap http://overthecap.com NFL Salary Cap, Player Contracts, and Related News and Analysis Fri, 01 Aug 2014 16:03:41 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.1 Best & Worst Contracts 2014: New Orleans Saintshttp://overthecap.com/best-worst-contracts-2014-new-orleans-saints/ http://overthecap.com/best-worst-contracts-2014-new-orleans-saints/#comments Fri, 01 Aug 2014 15:58:25 +0000 http://overthecap.com/?p=7748 Getting back to our best and worst series with a look at the New Orleans Saints

Best Contract: Junior Galette

Junior GaletteThe Saints are kind of a strange team when it comes to contracts. On one end of the spectrum they do a pretty poor job with planning for tomorrow due to restructures, void years, etc… but on the other end of the spectrum they also find these really good bargains on players. Marques Colston is one of the better players in the NFL, and has been that way for years, but they more or less pigeonholed him as a “slot … Read the rest

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Getting back to our best and worst series with a look at the New Orleans Saints

Best Contract: Junior Galette

Junior GaletteThe Saints are kind of a strange team when it comes to contracts. On one end of the spectrum they do a pretty poor job with planning for tomorrow due to restructures, void years, etc… but on the other end of the spectrum they also find these really good bargains on players. Marques Colston is one of the better players in the NFL, and has been that way for years, but they more or less pigeonholed him as a “slot receiver” creating a lower cost position. Zack Strief is an excellent tackle and they seemed to get him at a pretty reasonable discount this offseason. But I will stick with my selection of Junior Galette as the best deal on the team.

What the Saints did with Galette is a textbook example of how you handle a part time player who flashes tremendous potential and has huge upside. When Galette was signed he played about 30% of the defensive snaps for the Saints, as a pass rushing defensive end. That year I had created a metric using Pro Football Focus’ raw data sets that identified Galette as the third most productive rusher in the NFL on a per snap basis. It was clear that there was major upside. The Saints locked him up for $2.5 million a year, which was a discount on even his production as a 30% player. The following is what I wrote before last season on Galette:

The upside is gigantic with Galette and if he develops into a 600 to 800 snap player, the Saints will have someone on the team carrying a cap figure that is going to be about 1/3 of the production amount. This is the type of deal that allows them to carry the salary for Drew Brees. At worst he remains a pure situational player and he is still a bargain even at this price if he continues to produce at his current rate.

Galette developed into a starter, played 848 snaps, and sacked the QB 12 times. His cap charge was just $1.7 million. This year it will be just $2.9 million. His guarantee was $3.5 million. Compare his contract to that of Everson Griffen. Griffen was also never a starter but he did play more snaps. Despite the added opportunities he was, at best, of similar production to Galette. But Griffen showed some upside and ended up received a deal that will never carry a cap charge below $8.2 million and contains $19.8 million guaranteed. This illustrates just how good the Galette deal really was.

Now Galette can actually void his contract if he grabs another 12 sacks this season, which was the concession the Saints had to make. While he may do that I don’t consider that a major negative on the contract.  As long as this contract remains he is not just one of the best contracts on the Saints, but in the entire NFL.

Worst Contract: Curtis Lofton

I could easily see giving the nod to either of the Guards, who have both gone through restructures and are near the top of the food chain, but both are higher quality players and have already made it through a majority of their contracts. While Curtis Lofton is not the highest paid player on the team his contract illustrates all of the problems that the New Orleans Saints seem to have when it comes to contracts with their player. While the $5.5 million a year is a reasonable enough figure for Lofton, the $12.8 million virtually guaranteed was on par with players who earned $2 million more a season than  Lofton did.

Needing to keep his salary cap charge low in the first year of his contract, the team deferred $5 million, in the form of a roster bonus, to 2013, which would have led to a salary cap charge of $7.1 million. In fact the Saints littered the contract with offseason roster bonuses in 2014 and 2015 as well. These are dangerous because it gives the team almost no time to work on pay reductions for a player and instead forces them in to what can be hasty decisions. In 2013 the Saints converted his $5 million roster bonus to a prorated bonus and added a voidable contract year to further reduce Lofton’s cap charges.

His cap charge in 2015 now sits at $9 million with dead money having rising from just $2 million to $5. Lofton has a large roster bonus coming his way ($4.5 million) so the Saints will need to find a way to rework the contract. If he opts to try free agency rather than take a pay cut all his money will accelerate to the cap, and in the end could still just end up back in New Orleans if they really want him. If they did not use the roster bonus mechanism this would be a much easier task to accomplish.

The $5 million in dead money gives Lofton some decent leverage with the team. If you consider that $5 million sunk it means the Saints need to find a replacement that can come in under $4 million in cap charges for the year to keep the positional budgeting at $9 million. While there are ways to work the numbers to do that it is mostly a lower quality player that will be attracted to the position, unless the team is looking to add to an already bad future cap situation. They likely, at best, would make a lateral move on the position. Had there been no restructures they would have had $6 million or so to spend in cap dollars to break even.  That is a different tier of player than where they will be looking now.

2013′s Best and Worst Panthers Contracts:

2013 Best Contract: Junior Galette (See above)

2013 Worst Contract: Will Smith (Released by Saints)

Click Here to Check out OTC’s other Best and Worst Contracts from around the NFL!


 

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Marshawn Lynch Reworks Contract with Seahawkshttp://overthecap.com/marshawn-lynch-reworks-contract-seahawks/ http://overthecap.com/marshawn-lynch-reworks-contract-seahawks/#comments Fri, 01 Aug 2014 01:44:44 +0000 http://overthecap.com/?p=7745

According to NFL.com, the Seahawks have agreed to modify running back Marshawn Lynch’s contract in return for him ending his holdout and returning to training camp. Per the report the Seahawks have agreed to convert $500,000 in gameday roster bonuses, $500,000 in incentives, and $500,000 in 2015 base salary into Lynch’s 2014 base salary. The new contract will increase Lynch’s 2014 cap charge and cash salary by $1 million.

Though this is not the big raise that Jamaal Charles received from the Kansas City Chiefs, it was likely the best case scenario for Lynch, who had almost no leverage in … Read the rest

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According to NFL.com, the Seahawks have agreed to modify running back Marshawn Lynch’s contract in return for him ending his holdout and returning to training camp. Per the report the Seahawks have agreed to convert $500,000 in gameday roster bonuses, $500,000 in incentives, and $500,000 in 2015 base salary into Lynch’s 2014 base salary. The new contract will increase Lynch’s 2014 cap charge and cash salary by $1 million.

Though this is not the big raise that Jamaal Charles received from the Kansas City Chiefs, it was likely the best case scenario for Lynch, who had almost no leverage in the situation. Charles had been woefully underpaid and is the centerpiece of the Chiefs offense and projects to be in that role for at least one more season. Lynch has been paid well and is likely going to be phased out of Seattle over the next season.

I’ve said for some time that Lynch holds more importance for the Seahawks early in the season moreso than late in the year and I think this compromise indicates that they feel the same way. The Seahawks have a stable of potential replacements for Lynch, but it often takes time to work such players in to the offense in an ffective manner. Lynch should carry the workload early in the year while everyone else gets their feet wet in the system. Seattle easily could have held firm, continued to fine Lynch and further enforce forfeiture clauses in his contract, but instead they agreed to a slight raise.

While it is being widely reported (and is technically true) that this deal means no new money for Lynch, from a practical standpoint this is an additional $1 million for the player. The $500,000 incentive was only going to be earned if Lynch ran for 1,500 yards in 2014, something Lynch has only done once in his career. Considering his workload is expected to be reduced the odds of earning that incentive was next to nothing. It is now part of his base pay.  Lynch should still be scheduled to earn $7 million next year at an $8.5 million cap charge, which is not a safe spot for any aging running back to be. Lynch is still a strong candidate for release in 2015 so any money being moved from that season to this one is effectively a raise for him.

So he gained something with the hold out, a fact that may not make many NFL owners and General Managers very happy.


 

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A Close Look at the Tyron Smith Contract Extensionhttp://overthecap.com/close-look-tyron-smith-contract-extension/ http://overthecap.com/close-look-tyron-smith-contract-extension/#comments Thu, 31 Jul 2014 12:40:28 +0000 http://overthecap.com/?p=7743

Since we now have the basic details of the Cowboys extension with left tackle Tyron Smith, I thought it would be worth looking at why calling him the highest paid player at the position is not exactly accurate.

Though Smith carries the highest annual value of any tackle, $12.2 million versus $11.5 million for Joe Thomas, the cash flows will tell a slightly different story. Here are the running cash flows of the two contracts:

 

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SeasonThomasSmith
Year 1$20,700,000$20,000,000
Year 2$30,900,000$30,000,000
Year 3$42,000,000$40,000,000
Year 4$51,000,000$50,000,000
Year 5$60,500,000

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Since we now have the basic details of the Cowboys extension with left tackle Tyron Smith, I thought it would be worth looking at why calling him the highest paid player at the position is not exactly accurate.

Though Smith carries the highest annual value of any tackle, $12.2 million versus $11.5 million for Joe Thomas, the cash flows will tell a slightly different story. Here are the running cash flows of the two contracts:

 

SeasonThomasSmith
Year 1$20,700,000$20,000,000
Year 2$30,900,000$30,000,000
Year 3$42,000,000$40,000,000
Year 4$51,000,000$50,000,000
Year 5$60,500,000$60,000,000
Year 6$70,500,000$70,500,000
Year 7$80,500,000$84,000,000
Year 8$97,600,000

 

For the first five years of the contract Smith will trail Thomas before pulling even in year 6 and then ahead in the seventh and final year of the contract. These numbers do not take into account the fact that Thomas has roster bonus escalators in his contract in year 6 and 7. If Thomas reaches both escalators, which are based on Pro Bowls, His six year payout will rise to $72 million and his 7th year payout to $84 million.

Those escalators are more or less built in to the Smith contract, which is likely how the Cowboys arrived at the $84 million total. If both players continue to play at a high level this deep into their contracts the contracts are at best equivalent and realistically will always favor Thomas. The final year payout for Smith will ensure that he will always be the highest paid player among the current crop of players, pushing his annual value to $12.2 million, a number Thomas can not reach with this contract.

I read some complaints on Pro Football Talk about how the contract is crazy for Smith to sign due to the length of the contract. This now ties him to the Cowboys until he is 33 years old. But that opinion fails to realize that in order to achieve this type of contract it is a concession that you must make. Thomas did the same year ago when he signed his record setting deal and he will be 35 years old when he can next hit free agency, two years older than Smith. While it is true that Smith likely had more earning potential than Thomas, who was 23 when he entered the NFL and signed until he was 27, this is the path to the big contract.

Thomas is not the only individual who sacrificed years to gain big money.  D’Brickashaw Fergsuon of the Jets signed a six year $10 million contract extension in 2010 that would tie him to the Jets until he was 34. Like Smith, Ferguson was under contract for two more years when he signed the deal. Ferguson was generally considered overpaid (though his annual value is inflated by around $750,000), but he clearly sacrificed to get that $10 million number. These are concessions that must be made especially since the limited injury risk is now being taken off the player and absorbed onto the team.

One player who took a different route was Ryan Clady of the Denver Broncos. Clady was a franchise player and considered the best tackle in the game outside of Joe Thomas. Clady opted for the traditional five year deal (though it’s doubtful the Broncos offered other options) which gets him to free agency at 32, a bit younger than the others on this list. When we look at the percentage of payout over the five year value we see the big difference. Smith will consistently get a larger percentage of his contract over the first few years of the deal, with it not really smoothing out until the fourth season of the contract.

 

SeasonSmithClady
Year 133.3%28.6%
Year 250.0%43.8%
Year 366.7%62.9%
Year 483.3%81.0%
Year 5100.0%100.0%

The other thing that we should do when looking at Smith’s extension is an alternative cash flow analysis. In this case we hold off on the extension because we are unhappy with the length of the contract being offered by the Cowboys. Here we play out the contract and will be subject to the franchise tag in 2016 and potentially 2017. For all the issues that may exist with the Dallas Cowboys salary cap they have already shown a willingness to use the tag multiple times on one player (Anthony Spencer) in years where the cap was difficult to navigate. If anything their cap will be better in the future.

Assuming the tag jumps by around $2.5 million in 2016 here will be the new money cash flows over the next four years:

 

YearCurrentTag
2014$9,000,000$0
2015$1,000,000$0
2016$10,000,000$14,100,000
2017$10,000,000$16,920,000
Total$30,000,000$31,020,000

If we discount these at a 7% rate the earnings in the current contract are actually higher than in the second scenario by about $700,000.  We have also eliminated our risks of injury or skill decline during that period. In the above analysis Smith would likely sign a contract in either 2017 or 2018. The terms would be 5 years at that point, which would bring him to either 2021 or 2022. Is that really a material difference than being under contract in 2023? Probably not.

Might he be trading off some money in this situation?  Its possible. The 2018 through 2022 seasons would see him earn $54 million. Would the market jump higher than that in that time?  Im not sure. Clady’s deal was worth $52.5 million over five years and would be used as the barometer, which would indicate $54 million is a fair number. The salary cap will be rising (by how much nobody knows), but we cant be sure if money will funnel to this position or simply go to higher quarterback wages.

All things considered this is a good contract for both sides. Dallas has a bit more control over his salary cap charges and will pay a bit more now to potentially lock up a player at what might be reasonable terms in the future. Smith has more or less reduced risk in the short term and not really sacrificed much in his overall earning potential to do it. While he may not really be the highest paid player, he can now claim he is based on that additional contract year. He’s not the first nor will he be the last player to do that.


 

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Cornerback Contract Rundown: Peterson, Sherman, Haden and Who Has the Best Dealhttp://overthecap.com/cornerback-contract-rundown-peterson-sherman-haden-best-deal/ http://overthecap.com/cornerback-contract-rundown-peterson-sherman-haden-best-deal/#comments Thu, 31 Jul 2014 02:46:26 +0000 http://overthecap.com/?p=7740

With Patrick Peterson signing a five year contract extension worth $70 million on Wednesday, the NFL now has officially set the market for the young stud cornerback in the NFL. Peterson marks the third of the big three young corners (Peterson, Richard Sherman, and Joe Haden) to sign a contract which refreshed what had been a stagnant and declining market.

The debate between Peterson and Sherman over who is better has been a hot one over the last two seasons. It was a natural comparison since they play in the same division. Haden was not considered the same level of … Read the rest

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With Patrick Peterson signing a five year contract extension worth $70 million on Wednesday, the NFL now has officially set the market for the young stud cornerback in the NFL. Peterson marks the third of the big three young corners (Peterson, Richard Sherman, and Joe Haden) to sign a contract which refreshed what had been a stagnant and declining market.

The debate between Peterson and Sherman over who is better has been a hot one over the last two seasons. It was a natural comparison since they play in the same division. Haden was not considered the same level of player, but financially was in the same class as the other two. So in a league where the size of the paycheck often means the perceived worth of the player let’s look put the new contracts in a fair perspective.

Now when we discuss these deals what we are looking at is the new money included in the contract, as each player had at least one year remaining on their contracts when they signed the extensions. By pulling the old money out, which is highly dependent on draft position, we can do our best to compare apples to apples on each deal.

Despite the popular opinion that Sherman had the highest paying contract in the NFL at the position that distinction really belonged to Haden. Haden received more money over the first four years of his contract than Sherman did in his. The difference in annual value is because Haden had to accept a fifth contract year at a lower value while Sherman will be an unrestricted free agent that year.

When Peterson was negotiating his contract there were likely two important concerns to take into account: the yearly cash flows of the Haden contract and the annual value of the Sherman one.  His goal was to exceed both, thus making him the highest paid player at the position and justifying his take that he is the best in the NFL. So how do the deals compare in terms of cash flows?

 

PlayerYear 1Year 2Year 3Year 4Year 5
Peterson$25,000,000$35,000,000$46,250,000$57,500,000$70,050,000
Haden$24,400,000$34,600,000$45,800,000$57,000,000$67,500,000
Sherman$21,000,000$33,569,000$45,000,000$56,000,000

 

For the most part Peterson will always be about $500,000 higher in his running cash total than Haden until year five, at which point he will increase that by about $2 million. The reason for that increase was the Sherman APY. In order to get a five year annual value to read as larger than Sherman’s he needed a much larger salary than Haden in the fifth year, which he received.

Peterson is a consistently higher earner than Sherman over the comparable time frame (in the range of $1.5 million) and Sherman will need to earn $14 million in the first year of his next extension to match the total Peterson will receive over five years.

The second thing we should look at is guaranteed salary. Each player has a high level of guarantees in his contract, but almost all are of the “injury only” variety, at least initially. An injury only guarantee is one that protects a player from essentially catastrophic injury that prevents him from passing a physical to play in the NFL. While it does bring added security to the contract in most cases it would be rare for a player to collect on future injury guarantees. For the most part each player is protected in a similar manner with a relatively strong signing bonus and guarantees which become fully guaranteed just a few days following the Super Bowl. Considering each player had their contracts essentially guaranteed for 2014 already (none was going to be released) the best way to look at this is to look at the amount of new money paid out in the current year, the only year for each player that is guaranteed.

 

PlayerYear 0 New MoneyPer Year% of Total Contract
Peterson$13,362,000$2,672,40019.1%
Haden$16,000,000$3,200,00023.7%
Sherman$11,000,000$2,750,00019.6%

Peterson, in this case, actually received the least impressive payout in the signing year of his contract even though it is a higher number than Sherman. Haden received a very impressive figure. In Peterson’s case this is partially because his contract has two “year 0’s”, but for the purposes of guaranteed salary we can not consider that.

One of the metrics that I like to use to identify true earnings in a contract is what I consider the “virtually guaranteed” portion of a contract. This is essentially based on the dead money in a contract that makes it a negative against the salary cap to release a player, something I call “dead money protection”.

This protection is one of the reasons why the early vesting guarantee for Peterson and Sherman is extremely important (I don’t know the specific dates of Hadens guarantees so I cant speak on his). Both players will see a portion of their 2017 become fully guaranteed in 2016 which immediately adds to the dead money in 2017. Because the balance of their 2017 salary becomes guaranteed in February rather than March the teams are blocked from using a June 1 designation to try to minimize some of the salary cap charges.

Prior to any vesting guarantees here are the dead money charges associated with each player’s contract.

 

PlayerYear 1 DeadYear 2 DeadYear 3 DeadYear 4 DeadYear 5 Dead
Peterson$9,216,600$6,144,400$3,072,200$0$0
Haden$12,800,000$9,600,000$6,400,000$3,200,000$0
Sherman$8,800,000$6,600,000$4,400,000$2,200,000N/A

 

These numbers all present somewhat of a different story on the contract. Peterson is going to have to play at a much higher level to actually earn the full value of his contract than the other players.  Most teams do not like to carry large sums of dead money on their books and with these numbers I would lean towards Haden’s money being well protected through three years, Sherman’s early vesting guarantee of $5 million for Year 3 on his contract should protect his  third year salary, while Peterson is really only protected through two extension years.

Of course teams will carry dead money if the actual cash and/or cap savings are significant as that money can get rolled back into the payroll to make a team more competitive . Not counting those vesting guarantees here are the cap plus cash savings associated with a release over the extension years of the contract.

 

PlayerYear 1 SavingsYear 2 SavingsYear 3 SavingsYear 4 SavingsYear 5 Savings
Peterson$13,855,600$16,927,800$22,500,000$22,500,000$25,100,000
Haden$7,200,000$14,000,000$19,200,000$22,400,000$21,000,000
Sherman$13,400,000$20,738,000$20,662,000$22,000,000N/A

I think this table helps illustrate why the backend numbers in most contracts is worthless. If we look at the 4th year for these players, which are all essentially equal, a team would have an option of carrying this player or going out and paying someone $11 million (about half the savings with 50% going to cash and 50% to cap) to play for a year or finding creative ways to fit better talent into the salary cap slot. Again Haden probably got the best deal out of the group while Sherman will need the vesting guarantees to ensure the team has no reason to move on early in the contract.

Peterson, in particular, should be pushing for a contract restructure early in the contract to virtually guarantee himself more money. His best opportunity for that will be in 2015 when he carries a $14.79 million cap charge for a team with a pretty high payroll and no quarterback under contract. If Arizona can get past next season then Peterson will likely never get another string chance for more protection. He simply has to keep up a very high level  of play.

Overall I think that the strongest contract of the group is held by Haden. Despite the fact that almost everyone believes he is inferior to the other two he is the one who landed the most protected contract upon signing and has the best opportunity to earn three years salary as long as he is adequate (not great just adequate) on the field. His salary is also right on par with the others until the final year, which is not really likely for anyone to earn if there is any decline in play. There is no arguing that Peterson is the highest paid player, but he has to keep up the highest level of play to match the earnings of the others. The team is holding out more cash for him in the event he does play well, but he is going to have to earn every penny of it.

One last thing that I think is worth noting when discussing the cornerback market is what these contracts do with Darrelle Revis who is older than these players but generally regarded as the best in the NFL. Revis’ true contract value with New England is $12 million as he opted to sign a short term deal that carried a paper value of $16 million a season rather than taking a lower offer. I believe this was a calculated risk by Revis who has always demanded to be the highest paid defender in the NFL, a demand only one team has caved in on and they released him after just one season.

The cornerback market had been stagnant for some time in the $9-10 million region and for Revis to get back to a real contract worth $16 million or more a year would be impossible with the majority of players earning $9 million. Knowing that these three players had the chance to up the market it would give Revis the added leverage he needs to push for the higher contract rather than being stuck on a deal that probably would have paid him around $12-13 million a season for the next five years. Rather than asking for $7 million more a year than a top player he will now be asking for $2-3 million more, which is much more reasonable. That’s a situation that will play out next year, but he now has more ammunition to be seeking Mario Williams money, unless JJ Watt signs a new contract, leading to him asking for Watt money. It’s a story to keep an eye on over the next season.


 

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Initial Details on Tyron Smith’s $97.6 Million Extension with the Cowboyshttp://overthecap.com/cap.php?Name=Tyron%20Smith&Position=LT&Team=Cowboys http://overthecap.com/cap.php?Name=Tyron%20Smith&Position=LT&Team=Cowboys#comments Wed, 30 Jul 2014 22:46:04 +0000 http://overthecap.com/?p=7738 Read the rest

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Details of Patrick Peterson’s $70.5 Million Contract Extensionhttp://overthecap.com/cap.php?Name=Patrick%20Peterson&Position=CB&Team=Cardinals http://overthecap.com/cap.php?Name=Patrick%20Peterson&Position=CB&Team=Cardinals#comments Wed, 30 Jul 2014 18:37:37 +0000 http://overthecap.com/?p=7736 CB Patrick Peterson signed a five year, $70.05 million contract extension with the Arizona Cardinals on July 30, 2014. Peterson had two years remaining on his contract at the time of signing. All details, except the 2014 base salary, contained in this contract presentation are based on a report by Pro Football Talk. 

Peterson received $16.25 ?million fully guaranteed,….… Read the rest

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CB Patrick Peterson signed a five year, $70.05 million contract extension with the Arizona Cardinals on July 30, 2014. Peterson had two years remaining on his contract at the time of signing. All details, except the 2014 base salary, contained in this contract presentation are based on a report by Pro Football Talk. 

Peterson received $16.25 ?million fully guaranteed,….

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Details of Kyle Rudolph’s $36.5 million Contract Extensionhttp://overthecap.com/cap.php?Name=Kyle%20Rudolph%20&Position=TE&Team=Vikings http://overthecap.com/cap.php?Name=Kyle%20Rudolph%20&Position=TE&Team=Vikings#comments Wed, 30 Jul 2014 14:49:56 +0000 http://overthecap.com/?p=7734 Read the rest

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Best & Worst Contracts 2014: Indianapolis Coltshttp://overthecap.com/best-worst-contracts-2014-indianapolis-colts/ http://overthecap.com/best-worst-contracts-2014-indianapolis-colts/#comments Wed, 30 Jul 2014 13:04:52 +0000 http://overthecap.com/?p=7727 Moving our best and worst series along we examine the Indianapolis Colts

Best Contract: Hakeem Nicks

 

For whatever reason I have always liked Hakeem Nicks and feel as if this contract has the potential to be the steal of the offseason. While Nicks has never been the same following injuries I do wonder how much of that has been a lack of desire and concentration on his part. He has a tendency to do dump things on the field like attempting a one hand highlight grab when a normal catch will suffice, but I just feel as if he … Read the rest

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Moving our best and worst series along we examine the Indianapolis Colts

Best Contract: Hakeem Nicks

 

For whatever reason I have always liked Hakeem Nicks and feel as if this contract has the potential to be the steal of the offseason. While Nicks has never been the same following injuries I do wonder how much of that has been a lack of desire and concentration on his part. He has a tendency to do dump things on the field like attempting a one hand highlight grab when a normal catch will suffice, but I just feel as if he should be so motivated after the lack of interest in him in free agency.

The free agent offseason should be a wakeup call to Nicks, who went into 2013 thinking he could sleepwalk his way into an $11 million a year contract like Dwayne Bowe, Mike Wallace, and Percy Harvin did the year before. The Colts got him for next to nothing- a one year $4 million contract with $2.25 million guaranteed and $400,000 tied to playing time. That’s less money than was earned by Julian Edelman, Riley Cooper, Andre Roberts, Jeremy Maclin and a number of others who don’t have either the track record or upside as Nicks.

I know a lot of people dislike Nicks, but this is a contract that is essentially 50 cents on the dollar for a team that plays in a perfect environment and likes to air the football out. This is the ideal situation for both the Colts and Nicks. If they cant get greatness out of him likely nobody will, but at this price it’s well worth the risk associated with the contract.

 

 

Worst Contract: Erik Walden

 

I  think you simply go back to the 2013 free agency class and take your pick of bad contracts with the Colts. You have what was likely a mix up on Gosder Cherilus contract, an overpayment for Laron Landry, a bad idea that Greg Toler could be an effective starter, among other moves. But nothing that happened in 2013 really changed my mind that Erik Walden continues to be the worst contract on the team.

Walden is, at best, a fill in starter in the NFL. Ideally he is a situational role player on a decent defense where you can hide some of his deficiencies. This should have been apparent from day 1, but Indianapolis, flush with cap room, decided that they saw enough to pencil him in as a starting linebacker. He received $8 million in guarantees, which was more impressive that other more proven players at the position. Of that $8 million only $1 million came in the form of a signing bonus and just $4 million was fully guaranteed, meaning the Colts could have escaped after one year, but they chose to let the contract continue.

Walden, as a starter, was about as productive as he was when a backup type.  More opportunities, but the same amount of impact plays on the game. In most cases he is a liability. It’s one of those contracts that made no sense. He was unproductive with Green Bay, playing alongside Clay Matthews who should open up many opportunities for him. In his first run into free agency nobody in the NFL showed any interest. There was nothing he did in 2012 that should have upped his stock for his return to free agency in 2013, but in the Colts mind he did more than enough to merit the job and a nice little contract for a minimal track record. Barring a major turnaround in 2014, it is hard to picture him staying a Colt past this season.

 

 

2013′s Best and Worst Colts Contracts:

2013 Best Contract: Reggie Wayne(Injured, Remains on team)

2013 Worst Contract: Erik Walden (See above)

Click Here to Check out OTC’s other Best and Worst Contracts from around the NFL!


 

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Ahmad Brooks Restructures Contract with 49ershttp://overthecap.com/cap.php?Name=Ahmad%20Brooks&Position=34OLB&Team=49ers http://overthecap.com/cap.php?Name=Ahmad%20Brooks&Position=34OLB&Team=49ers#comments Wed, 30 Jul 2014 01:26:59 +0000 http://overthecap.com/?p=7725 Read the rest

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Details of Jordy Nelson’s Contract Extension with Green Bayhttp://overthecap.com/cap.php?Name=Jordy%20Nelson&Position=WR&Team=Packers http://overthecap.com/cap.php?Name=Jordy%20Nelson&Position=WR&Team=Packers#comments Tue, 29 Jul 2014 21:32:00 +0000 http://overthecap.com/?p=7723

WR Jordy Nelson signed a four year contract extension with the Green Bay Packers worth $39.05 million on July 26, 2014. Nelson receivd a $11.5 million signing bonus. From 2014 to 2018 he can earn up to $500,000 in gameday active roster bonuses. Base salaries of the contract are $2,000,000(2014), $1,300,000(2015), $5,500,000(2016), $8,250,000(2017), and $9,250,000(2018).… Read the rest

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WR Jordy Nelson signed a four year contract extension with the Green Bay Packers worth $39.05 million on July 26, 2014. Nelson receivd a $11.5 million signing bonus. From 2014 to 2018 he can earn up to $500,000 in gameday active roster bonuses. Base salaries of the contract are $2,000,000(2014), $1,300,000(2015), $5,500,000(2016), $8,250,000(2017), and $9,250,000(2018).

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