Eagles' Reported Offer to Byron Maxwell Epitomizes Free-Agency Overspending

It happens every year.

For some teams, it's a matter of too much cap space burning a hole in their pockets. For others, it's a matter of panic borne of a glaring need at another position. For the Philadelphia Eagles in 2015, it may have been a little of both. Nearly $45 million in cap space, per Over the Cap. A big hole at cornerback.

Whatever the reason, the Eagles have reportedly taken the bait and are prepared to become the latest NFL team to go a little nuts when free agency opens.

Again.

According to Jayson Braddock of KBME Radio in Houston, the Eagles have come to terms with free-agent cornerback Byron Maxwell on a five-year, $54 million deal. Almost half that contract is guaranteed:

Granted, Maxwell can't officially sign on the dotted line until Tuesday, but Jimmy Kempski of The Philly Voice confirmed that Maxwell is indeed headed to the City of Brotherly Love:

If that isn't good enough for you, Maxwell himself has indicated he's on the move, per Albert Breer of NFL.com:

In fact, Aaron Wilson of The Baltimore Sun reports the contract is even bigger than originally believed:

On some level, it isn't hard to see why the Eagles would be interested in the player who tops Rotoworld's Evan Silva's free-agent cornerback rankings.

Rank	Player	2014 Team	Age
1.	Byron Maxwell	SEA	27
2.	Brandon Flowers	SD	29
3.	Tramon Williams	GB	31
4.	Antonio Cromartie	AZ	30
5.	Buster Skrine	CLE	25

In Chip Kelly's two years as the head coach of the Eagles, the team has ranked 32nd (2013) and 31st (2014) against the pass. After moving on from veteran Cary Williams in the offseason, the Eagles were absolutely desperate to get better in the secondary.

Otto Greule Jr/Getty Images

That desperation is showing, and Maxwell is only the latest in a parade of veteran corners (many with fat contracts) who have passed through Philly in recent years.

In 2011, it was Nnamdi Asomugha (five years, $60 million) and Dominique Rodgers-Cromartie (trade). Two years ago it was Williams (three years, $17 million).

None of those cornerbacks are still on the team.

Mind you, this isn't to say Maxwell isn't a good cornerback. The 27-year-old slid into the starting lineup opposite Richard Sherman in Seattle during the 2013 season. Over the past two years, Maxwell has racked up over 60 tackles and six interceptions for the Seahawks.

Year	Games	Tackles	Sacks	INT	FF	PD
2011	9	1	0	0	0	0
2012	9	14	0	0	1	3
2013	16	28	0	4	1	12
2014	13	39	0	2	1	12

However, Maxwell's new deal won't pay him like a good young cornerback. It will pay him like one of the very best players at his position in the entire NFL. According to Spotrac, the average annual salary of Maxwell's new deal would rank him fourth at the cornerback spot.

Player	Team	Total Contract	Guaranteed $	Avg. Salary
P. Peterson	AZ	$70.0 million	$47.4 million	$14.0 million
R. Sherman	SEA	$56.0 million	$40.0 million	$14.0 million
J. Haden	CLE	$67.5 million	$22.7 million	$13.5 million
B. Carr	DAL	$50.1 million	$25.5 million	$10.0 million
J. Joseph	HOU	$48.8 million	$23.5 million	$9.8 million

And his performance to date just hasn't justified that kind of scratch.

Donald Miralle/Getty Images

According to Pro Football Focus, Maxwell ranked 45th among NFL cornerbacks last year. Granted, that was higher than Patrick Peterson of the Arizona Cardinals or Brandon Carr of the Dallas Cowboys (who also have top-five salaries), but a ranking barely inside the top 50 doesn't exactly scream "elite."

That's part of the reason Chris Burke of Sports Illustrated named Maxwell as the most overrated player at his position in free agency this year:

"

Stick with me here. Maxwell is by most accounts the top available cornerback, maybe even by a significant margin. He's big and fast and physical. Here's the rub, though: Maxwell has been playing in the brilliant Seattle system, opposite Richard Sherman. He will be paid as a No. 1 cornerback, and he might be able to handle those duties, but it is a wait-and-see proposition. Considering the price tag Maxwell is going to carry, that's a little worrisome.

"

Eliot Shorr-Parks of NJ.com agrees. In his opinion, if the Eagles are going to make it rain, they might as well set their sights a bit higher:

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The Eagles' commitment to fixing the problem is there. Their execution, at least when it comes to Maxwell, however, might need some fine-tuning.

Maxwell is good cornerback, and would represent a marginal upgrade over last year's starter, Cary Williams. But if the Eagles are going to fix a secondary that has finished among the bottom two against the pass the last two seasons, they are going to need more than Maxwell.

Which is why, if the team is going to be opening up its checkbook, the Eagles should wait and see what happens with New England Patriots cornerback Darrelle Revis.

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Shorr-Parks has a point. Yes, the Eagles badly need to improve the back end of their defense, and the team appears hellbent on doing so. Shorr-Parks reports that, in addition to Maxwell, the Eagles are also expected to make a serious push for New England Patriots free safety Devin McCourty (he has reportedly re-signed with the Pats, per ESPN.com's Mike Reiss).

Ronald Martinez/Getty Images

According to Shorr-Parks, the Eagles aren't necessarily done at cornerback, either:

That first one makes a bit more sense at least. McCourty is arguably the best free safety in football not named Earl Thomas.

The same just can't be said about Maxwell, who has also played in 16 games only once in four seasons.

It's an easy trap to fall into. Each year, the early days of free agency feature teams spending more than they should on players. Organizations have been waiting for months to spend some of their cap space. Players have been waiting that same amount of time to earn it.

If you're looking for bargains in free agency, you aren't going to find them Tuesday. Or Wednesday. Or Thursday. Add in a big need at a certain position, and you have temptation that's just too much for some teams to avoid.

Four years ago, that temptation led the Eagles to go wild in free agency, assembling a "Dream Team" that wound up a nightmare. It was a fiasco that helped bring about the end of Andy Reid in Philadelphia. It was engineered by general manager Howie Roseman, who was stripped of most of his authority a few months ago.

That authority was given to Chip Kelly, who has apparently decided to follow this motto: If at first you don't succeed, try, try again.

Gary Davenport is an NFL Analyst at Bleacher Report and a member of the Fantasy Sports Writers Association and the Pro Football Writers of America. You can follow Gary on Twitter at @IDPManor.