Contracts for the Pass Catchers

Catching Contracts

Receivers catch deals as Free Agency opens Andrew Brandt


March 15, 2012, 06:01 AM EST

http://cdn.cloudfiles.mosso.com/c191...c/hotsheet.png
per the annual ritual of the opening bell of free agency, the “chosen few” players were beneficiaries of the unrestricted free agency system brought into the NFL in 1993. Teams desiring to make purchases on the opening day of the buying season have to pay retail prices; they know that going in.

First, a couple of mantras from my years of watching free agency (and hoping in Green Bay that we would avoid the "stupid money" payouts of the first few days shopping sprees):

• Some of the best deals made are the ones not made
• Never let impulse or emotion override rational decision making, and
• Teams that “win” March rarely play in January

Free agency moved at warp speed for one position group. A talented group of wide receivers made their presence felt throughout the league with a trade and some marquee signings designed to upgrade sluggish offenses. Let’s look at some of the new wide receiver riches...


Calvin Johnson

This deal is so big it will receive a column to itself, but here are a couple instant thoughts.
NFL owners were adamant about changing the rookie pay at the top of the Draft for reasons beyond the oversized guarantees. The real issue was that these contracts have what I call "exploding escalators" in the latter years of the deal, resulting in onerous and unworkable numbers for the team. This happened with Johnson, as it did with Larry Fitzgerald when he secured his first of two record-breaking contracts.


The Lions had the least leverage of any team dealing with an existing player. They could not field a competitive roster with Johnson's enormous Cap and cash numbers in this year and next. They were stuck, and Johnson was the beneficiary.

The other takeaway from the Johnson deal is that he and Fitzgerald have zoomed past the established receiver market to set a market of their own. This deal will now affect positions beyond wide receiver and it may have an interesting effect on the stagnant negotiations between the Saints and Drew Brees.
http://cdn.cloudfiles.mosso.com/c191...g/BMarsh11.jpgMarshall brings great talent but some baggage.


Brandon Marshall

Marshall, traded to the Bears for two third-round picks, is a talent; I remember watching him run through our defense when I was with the Packers. However, he has had some brushes with the law, including as late as this week. I am sure that Lovie Smith and his staff think they can “handle him,” but that may be a wish and not a plan. The test will come if and when things go south, and they will. All eyes will be on Marshall in how he handles adversity.


The Bears will inherit the remaining three years of Marshall’s five-year deal, with salaries of $9.3 million this year and $9.1 million in 2013 and 2014.


DeSean Jackson

After a disenchanted 2011 season followed by the Franchise Tag ("Tag") Jackson is now rewarded with a five-year deal. While it is certainly good news for Jackson to have signed a long-term deal, it appears to be a curious one.


Jackson was scheduled to make $9.5 million playing under the Tag in 2012. Jackson will now make -- from bonuses and salary -- $11 million in 2012, a relatively modest increase of $1.5 million. In 2013, Jackson will make $7 million in bonus and salaries, $4 million of which is fully guaranteed, the rest guaranteed only for injury (if he is unable to play in 2013 due to injury). And in 2014, Jackson will make $10.5 million, only $250,000 of which is guaranteed.


Certainly, $15 million is better than $9.5 million, but I would have expected a larger guaranteed amount for Jackson to give up four additional years beyond this Tag year. This deal feels light.

Marques Colston

Colston was the beneficiary of three factors: (1) the pending free agent deadline, using the leverage of the hours leading up to free agency to obtain the Saints’s best offer; (2) the cloud of the “bounty” scandal hanging over the Saints; and (3) unsuccessful negotiations with other Saints’ Pro Bowl players, Brees and Carl Nicks, now with Tampa Bay.


Thus, Colston secured a five-year deal with a total value of $40 million with $19 million guaranteed. That guarantee places him behind last year’s trendsetter in free agency, Santonio Holmes ($24 million), but ahead of guarantees for players such as Stevie Johnson ($18 million) and Roddy White ($18.6 million).


And for some more receiver signings...

Redskin Receiver Roundup
The Redskins acted right out of the box, as per a tradition not slowed by recent Cap penalties, in securing Pierre Garçon and Josh Morgan.


Garçon was signed to a $42 million deal with $21.5 million guaranteed, although the guarantees are "stair-stepped": $13.1 million this year, $5.6 million triggering next year and $1.8 million triggering in 2014.. Unlike Jackson, saddled with the Tag, Garcon played three teams off each other, with the Colts trying to stay in the game and strong interest from the Rams.


Morgan's contract, with $7.5 million guaranteed, is technically five years in length in order to prorate the signing bonus ($5.5 million), but voids after two. The Redskins – docked $18 million of Cap room – had to be creative with the Cap to remake this position in a matter of hours.

Vincent Jackson

Jackson, the marquee free agent receiver of the group, changes coasts, signing a five-year $55.5 million deal with Tampa Bay, including $26 million guaranteed, all in the first two years of the deal.


The Bucs, armed with $45 million of Cap room, were able to structure the deal in a “pay as you go” model, loading $13 million into both 2012 and 2013 with no proration nor potential future Cap charges should things sour. The Bucs did the same with Nicks. It is a smart way to structure a deal and protects the team in the future.


Comparing to Redskin issue

Many have asked about this laudable structure and as to why the Redskins and Cowboys incurred penalties from the league. I cannot speak to the Cowboys -- it appears the Miles Austin deal was frontloaded in the same manner as Jackson -- but the Redskins' issues were different.


The Redskins did not negotiate contracts in 2010 to frontload money into the uncapped year. They renegotiated existing contracts to bring forward proration from future years into the uncapped year. I am not defending the penalties levied against the team -- it is still puzzling that there were no written prohibitions against what they did -- but there is a difference. One is negotiating; one is accounting.


There are even more receivers to catch deals in the past couple days, and there will be more to come. Meanwhile, Dwayne Bowe and Wes Welker – saddled with the Tag – can only watch and wait.


Follow me on Twitter at adbrandt.

Two things stand out to me in Brandts synopsis of the movements of these WR's.

1) We actually got a hell of a deal compared to some others. We got a proven #1 1000 yard plus per year guy for less than $28 mil for three years with none of that amount guaranteed. It's strictly pay as you play.

Contrast that to the deal VJax got. While one two years longer in the first two years of his contract he's guaranteed ($26 mil) or almost as much as Marshall gets over 3 years but with none of his guaranteed. There is no way we could have given him that kind of a deal. The Bucs had $$$ to burn and just like losing out on MWill to cap rich Buffalo we would have lost this one too.

2) The size of the deals for #2 WR's astounds me. Those deal are for about $40 mil each give or take a mil or two and average $6 - $8 mil per year for #2 guys. We're only paying around $9 mil for a proven #1 and our #2 Bennett is averaging $4.5 mil per year. That's not bad at all considering this will be the best duo we've put on the field since Conway and Graham.