More on Sanchez’ Total Contract
More details have come out about Mark Sanchez’s five-year contract it appears that according to PFT, at it’s most generous it has a value of
… $60 million, including $28 million in guaranteed money, a league source told us tonight.
The fifth overall pick’s average annual guaranteed money represents a 56-percent increase over the contract of Kansas City Chiefs defensive tackle Glenn Dorsey, last year’s No. 5 selection, according to our source.
That figure accounts for our source’s interpretation of Sanchez’s average yearly guaranteed money in comparison to Dorsey’s average guaranteed money per year. Our source says that Dorsey’s total guaranteed money is actually a lower figure than the $22.5 million previously reported.
And Sanchez’s $50.5 million core/base value of the deal is 53 percent higher than Dorsey’s, according to a source.
Aaron Wilson goes into more details you can read at PFT, but it’s obvious that there was a cost to getting the contract done early and you’re seeing it. Granted it’s a QB contract, not one for a Safety, but it’s a high premium over last year’s contract.
Over the past three years, the Jets have proven to be extremely generous in the contracts given to their top picks, Darrelle Revis, Vernon Gholston, and now Mark Sanchez. It’s a move that has garnered quite a bit of criticism from Mike Florio at PFT, but at the same time, it’s also a move that hopefully sets up players to not get into long drawn out contract squabbles when these deals end.
I’m sure Leon and TJ are thrilled to see a rookie get so much.
It doesn’t compare too unfavorably with Matt Ryan, the 3rd pick last year, who is of course also a QB, so perhaps is a better comparison:
MR – 6 years, 34.75m guarantees, 66m with another 6m in possible incentives (11m-12m pa)
MS – 5 years, 28m guarantees, 50.5m with another 9.5m in possible incentives (10m-12m pa)
It’s a ton of money though. Therein lies the risk of drafting a QB so high.
I think it’s almost impossible to judge these contracts — even if you knew all the incentives and how easily they might be reached, realistically very few players actually play out and receive their entire contract as it is originally signed.
If a player is good, he’ll get a new deal. If he’s bad, he’ll get cut before he collects all the money. If he is a high salary guy, he’ll be asked to re-negotiate somewhere along the line for cap relief.
For me, it’s almost like trying to judge fireworks — each big flash seems bigger than the next and before you can really tell if it was impressive, it’s already faded away, replaced by another seemingly bigger flash.
Per NFL.com Dorsey got:
Glenn Dorsey DT Kansas City Signed 5 years, $51 million ($23M guaranteed)
I’m confused where the 53% increase is… To me Sanchez got LESS than Dorsey…
EDouble,
I agree. At most, Sanchez’s contract is $60M, which is a 20% increase and the extra $6M in guaranteed money is a 30% increase. I wonder how PFT gets to over 50%?
Bent,
The franchise tag for QBs is $14,651,000. So, if Sanchez pans out, his contract could actually be cheap. If not, it’s a millstone (sorta like VG’s contract as of now).
Hey Bent, how does the rookie pool allotment play into this whole scenario, we had like only 5 million set aside for our rookies right?
He got a cheaper guaranteed deal than every top 5 pick qb since alex smith. Florio will criticize anything the jets do.
You can’t compare a DT’s rookie contract to a QB’s, honestly. It’s like comparing peanuts and grapefruits. If Florio was honestly expecting a top 5 QB to get a similar contract to a top 5 DT a year ago, he’s in the wrong business.
They will never get to a franchise year with Sanchez if he is a stud. They would sign an extemsion before that. When have you ever seen a franchise QB come on the free agent market?
If you are a qb in the top five you are getting boat loads of money so it is expected.
Jeff – we had $3.49m of 2009 cap space allocated to signing the draft picks. Having signed Slauson and Sanchez, there’s probably enough left to be able to bear Greene’s deal. Sanchez’s 2009 cap number is therefore probably right around $3m. The way they will have done that is by having a huge cap hit in 2010. Obviously we haven’t had the full breakdown yet (and there’s 47 pages of verbiage) so nobody can say for sure, but that’s what we expected all along. The Jets might benefit from an uncapped 2010 although they do have a lot of flexibility if there is a cap.
E-Double/Sack – I’d imagine that although Dorsey’s contract was reported at 51m his core/base figure must have been a lot lower than that (about 33m). That’s the only way Florio’s numbers make sense. I’m sure that must be the case because it would be similar to Gholston’s which is 50m, but the core value is only 32.5m.
Bent,
That makes sense as to Dorsey’s gross contract, but the guaranteed money was only 30% more for Sanchez. IMO, the “QB premium” for Sanchez doesn’t appear to be as drastic as it is for the top 3 QBs, like Ryan, Stafford, et al.
There are a few reasons why the Dorsey numbers he is citing make sense. Dorsey, while reported as a 5 year deal, was really a 5 year deal with a 6th year option. He only got an extra 2.75 million for that 6th year and that number is likely figured into the 50.5 million that was reported. That works out to be a guarantee of 3.75/yr while Sanchez’ if it is a straight 5 year deal will average 5.6/yr in guaranteed money. That is a huge increase.
Dorsey’s core value is about 38 million without all the crazy incentives, That’s 6.3/ yr. Nobody knows Sanchez’ yet so it could be similar when everyone reports 50.5 million as the contract. There are likely escalators in there that will be reported as guaranteed provided he plays in 35% of the snaps this year, which could also be much easier to attain than Dorseys which are likely tied into snaps, pro bowls, team incentives, etc…. If we take Sanchez’ as a straight 50.5, that’s 10.1/yr, which is well over a 50% increase over Dorsey’s contract.
Thanks Sack/Jason – I wasn’t going to go to any great lengths to defend Florio, but I was sure there was a reasonable explanation.
A rookie with 16 college starts is the highest paid player in our franchise’s history. I don’t know how I feel about that.
Too much emphasis is put on the difference between drafting a QB 3rd, or 5th. I’m not saying the difference in the money isnt warranted, but whose to say Sanchez was any less of a prospect than QB’s taken higher than him since 05′ (Stafford, Ryan, Russel, Young). I think the value will exceed the cost in the long run, but thats just my opinion.
JR, agreed … Had the chiefs not made the cassel deal and selected Sanchez 3rd no one would have blinked an eye..
It’s worth the slight premium to get him comfortable and not have him worried about getting hurt before he signs! Now he can focus on Football , I unfortunately don’t know how he feels .LOL but I gotta believe going from modest means to knowing you may be recieving a deal worth 50 millions + must make a man a little distracted…I think he was neck and neck with Clemens but we might see him take charge now of the battle.
I gotta say I’m a bg clemens a supporter but if he doesn’t beat out CP 2x when you know mgt. Wanted him to and a rookie with. 16 games under his belt…then he has no one to blame or point a finger at ( not that he will , since he’s been a class act all the way)..maybe the talent is just mediocre…I was expecting big things when he was drafted..saw a couple of his games in college and really thought he was gonna be a major sleeper ; maybe still will but obviously not here…..