NFL Free Agent Signings: The 5 Most Ridiculous Contracts Handed Out So Far

After a very contentious four-month vacation, the NFL opened for business once again on Tuesday morning. It didn't take long for the free-agent signings to start coming fast and furious.

OK, fine. Teams can't actually sign players until Friday, but plenty of agreements are already in place. There may not be any paperwork involved, but teams and players have definitely found one another, and the years and dollars are all set.

Nothing out of the ordinary, I suppose. The only real difference about free agency this year is that it is being crammed into a very small window. If something can't get done in a hurry, it won't.

When you think about it, maybe that's why we're seeing so  many questionable deals being handed out. Personally, I know that I've seen quite a few deals in the past two days that have made me scratch my head and say, "Is [Player X] really worth [Y amount of money]?"

Instead of bottling up my outrage like a normal person, I figured I may as well air some of my frustration with these deals. After all, nothing passes the time like a good rant.

If that statement rings true with you, dear reader, I bid you to scroll forward for a list of the five most ridiculous contracts handed out so far this week. You know you want to.

5. Santonio Holmes, WR, New York Jets

Nobody is going to agree with me on this one, but I'm going to try to justify this slide anyway.

As you have no doubt already heard, the New York Jets were able to retain Santonio Holmes, by far the most coveted of their many free agents, by giving him a five-year deal worth $50 million.

Of that $50 million, $24 million is guaranteed. The New York Times notes that this means Holmes just landed one of the most lucrative contracts ever handed out to a wide receiver.

And deservedly so perhaps. Since entering the league with the Pittsburgh Steelers in 2006, Holmes has established himself as one of the most clutch wide receivers in the NFL. Heck, an average of $10 million per year might actually be a bargain.

It might, but the fact remains that we're talking about a guy who has had exactly one 1,000-yard season so far in his career. He is also coming off a season in which he had just two 100-yard games.

I don't know about you, but only the best receiver in the league deserves the kind of money Holmes just got. And make no mistake, Holmes is not the best receiver in the league.

In fact, I'd argue that he's not even a top-five receiver.

Go ahead. Let me have it.

4. Tarvaris Jackson, QB, Seattle Seahawks

We all know Tarvaris Jackson. He's the guy that was wildly mediocre as the starting quarterback for the Minnesota Vikings in 2007 and 2008, forcing the Vikings to go out and sign Brett Favre to be under center in 2009 in 2010.

In other words, the state of the Vikings is pretty much all Jackson's fault.

If the Seattle Seahawks are aware of that, they definitely didn't show it on Tuesday. Shortly after it became clear that they would not be re-signing Matt Hasselbeck, the Seahawks brought in Jackson.

But Jackson isn't coming cheap, as the word from ESPN's John Clayton is that Jackson's deal with the Seahawks is for two years and $8 million.

If that seems like a bit much for a guy like Jackson, that's because it is. Whatever Jackson is worth, it's probably a little less than $8 million.

We are, after all, talking about a guy that has a career QB rating of 76.6, not to mention a guy who has thrown just 48 passes in the last two seasons.

True enough, it's not like the Seahawks are risking their season on this deal. Jackson could break camp as the team's starting QB, but he will have to beat out Charlie Whitehurst to do so.

If Jackson does not, the Seahawks will have essentially signed a backup to back up a backup. The heck of it is that it's hard to tell exactly who they were bidding against.

3. Doug Free, OT, Dallas Cowboys

I have a feeling nobody's going to agree with me on this one either, but what the heck.

After spending much of Tuesday entertaining the idea of splitting for the Tampa Bay Buccaneers, left tackle Doug Free agreed to return to the Dallas Cowboys in the wee hours of Wednesday morning.

ESPN's Adam Schefter reported that Free's deal is for four years and $32 million, with $17 million guaranteed.

Because Free was widely considered the best left tackle on the market, it's understandable if the Cowboys had to overpay him a little bit. But given Free's outlook for the 2011 season and beyond, that doesn't mean they're making a smart investment.

While Free definitely impressed in 2010, it's worth noting that it was his first year as a full-time starter, as he took over for Flozell Adams after he was cut. Moreover, the arrival of rookie tackle Tyron Smith could force Free to the right side of the line.

Basically, the Cowboys are going to dish out at least $17 million for a one-year wonder that might not even be the best option at his position.

Oops?

2. Olindo Mare, K, Carolina Panthers

Unlike some people, you're never going to hear me say that kickers are a necessary evil. No sir, they're not that bad. I like to think of them as more of a necessary nuisance.

Indeed, all kickers do is kick the ball. Generally speaking, that's why they don't get paid as much as other players.

This rule does not apply, however, to Olindo Mare. He signed a four-year deal with the Carolina Panthers on Wednesday, and the word from Pro Football Talk is that it is worth a total of $12 million. With a $4 million signing bonus to boot.

Wait, what? The Panthers are paying $16 million for a kicker?

Apparently so. And the funny part is that they're not even paying $16 million for a good kicker, as Mare is coming off a season in which he made just 83.3 percent of his field-goal tries. A couple years ago with the New Orleans Saints, Mare made just 58.8 percent of his kicks.

Lesson learned. Train first-born to become a kicker.

1. DeAngelo Williams, RB, Carolina Panthers

DeAngelo Williams was one of the most productive running backs in the league in 2008 and 2009, rushing for a combined 2,632 yards on 489 carries.

Last season, on the other hand, did not go so well for Williams. He was put on injured reserve in November, and was forced to watch as the Carolina Panthers stumbled to the league's worst record.

Not exactly the best way for him to head into free agency.

No matter. While Williams had a chance to re-team with John Fox in Denver, he instead signed a five-year, $43 million deal with $21 million guaranteed to stay in Carolina.

Had Williams gotten this deal last offseason, nobody would have argued. But giving Williams a deal like this now is absurd. He's coming off a season in which he played just six games, and he's already 28 years old.

Because the shelf life on running backs is typically 30 years, giving Williams a five-year deal is pretty risky.

If the Panthers are trying to prove a point this week, it's that they're not afraid to be reckless with their spending. Because, you know, being reckless with money is a good way to get ahead in life.