Salary Cap Analysis: WRs
February 18, 2011
DeSean Jackson
Jackson enters the final year of his contract scheduled to count $903,250 against the cap. Having made less than 3M so far in his career, DeSean is understandably trying to cash in as soon as possible. The Eagles would be wise to oblige, and there are several recent contracts available to use as a starting point in negotiations. Brandon Marshall signed a deal that, despite creative accounting that enables his agent to claim an annual salary of 10M per year, is in actuality a 5 year, 47.3M contract. This includes 25M in guaranteed money, but as the link above explains, half of that can be voided if he is suspended by the league.
The Miles Austin contract, signed this past September, was reported to be for 6 years and 54M, with 18M guaranteed. However, it’s really 7 years, because it used the 2010 season to increase his base salary to over 17M. Andre Johnson also received an extension during 2010, but it’s not a very comparable situation because (1) he was already signed for 5 more years at the point of the extension, and (2) he is widely regarded as the best receiver in the league. Going back to 2009, Roddy white signed for 6 years, 50M (18M guaranteed), and Greg Jennings signed for 4 years, 26M (16M guarantee). The Larry Fitzgerald contract, which has been used as a benchmark for several years, totaled 40M over 4 years, with 30M guaranteed.
Jackson and Rosenhaus are probably looking to hit the 10M per year mark, with at least 25M in guarantees. I could see this happening, but with some creative accounting similar to the Marshall deal that allows both sides to come out believing they have won. For example, if they agree to a 5 year, 50M extension, it would really be a 6 year deal because 2011 would be included. Rosenhaus could claim 10M per year, but the Eagles could spread out the payments over 6 years, brining their average annual expense to 8.33M. The “guarantees” could be artificially inflated by including roster bonuses in the later years of the deal that aren’t truly guaranteed. I expect a deal to ultimately be reached, and I expect the initial reports to sound very high, but I also expect some technicalities that reduce the actual commitment that the Eagles are required to make.
Jeremy Maclin
Maclin is signed for three more seasons at cap values of approximately 2M, 2.35M, and 2.95M. His current cap over hang is 3.75M, as he received a 5M prorated bonus in 2010. He also triggered his one-time bonus of 2.4575M in 2010. Maclin’s contract provides excellent value for his production, and he is signed for long enough that they don’t have to worry about extending him for a couple of years.
Jason Avant
Avant is signed for 4 more seasons at cap values of 1.96M, 2.21M, 2.71M, and 3.96M, with remaining cap overhang of 2.84M. His contract provides good value at this point, and because of the overhang, he is virtually guaranteed to be on the team through 2012 (at least from a salary cap perspective). However, in 2013 the team would be able to save about 1.3M by trading/releasing him. In 2014, he is owed a 1M roster bonus, and the team would save over 3.2M by trading/releasing him. Depending upon the development of Riley Cooper and/or any other young receivers they draft this year, it is conceivable that Avant won’t be back in 2013, and I highly doubt that he will complete his deal in 2014.
Riley Cooper
Cooper is signed for three more seasons, with cap values ranging from around 450K to roughly 620K. His cap overhang is minimal, meaning that the Eagles can release him without hesitation if his performance wavers. His contract is appropriate for a #4 receiver, but would provide excellent value if he is able to become anything more than that. As I mentioned earlier, he could potentially force Avant out the door in 2013 if he is able to play at a high level.
The Eagles also have Sinorice Moss signed for one year (640K), Chad Hall signed for two years (405K, 490K), Rod Harper signed for two years (405K, 490K), and Jeremy Williams signed for three years (330K, 415K, 500K). These players figure to compete for the 5th WR position, as there doesn’t appear to be any reason to draft a WR.
Signing Jackson to an extension is a priority, but other than that, the WR position has the potential to remain settled through 2013, when Maclin and Cooper see their contracts expire and Avant becomes a bit too pricey. Depending where the Jackson contract comes in, the Eagles will likely be using about 15M worth of cap space on this position group over the next 3 years.
