10 Worst NFL Contracts of 2013

Has your team ever signed a player that had you saying "What were they thinking?!"  Don't worry, you are not alone.

Whether it was Tony Romo's large extension or Shonn Greene's $10 million contract to be a backup , there are many players who are still cashing in from teams who refuse to acknowledge this new, frugal, NFL era.

The new collective bargaining agreement set the salary cap at $123 million for 2013, and is projected to remain relatively flat through 2015 according to sports business daily.

With many players still maintaining over-inflated salaries from contracts prior to 2011, the squeeze has been put on recent free agents who have seen their value diminish.  

There is a reason that teams like the New England Patriots and Baltimore Ravens make the playoffs year after year. It's the same reason they don't have any players making this list.

They understand value.

After reviewing over 200 new contracts, I have compiled a list of the 10 worst contracts signed in 2013. While total cost and the talent of the player acquired are important, it's also crucial to consider many other factors.

Salary cap hit, the current and future financial position of the team and other team needs all are key when evaluating a contract.

Players such as Joe Flacco and Jermon Bushrod make the honorable mentions list, but their relative value to their team keeps them off the 10-worst list.

Please comment below and let me know who I missed, where I went wrong and your thoughts on the worst new contracts of 2013.

All contract numbers in this article provided by Spotrac.

10. Mike Wallace, WR, Miami Dolphins: 5 Years, $60 Million

Considered the prize of free agency by many, Mike Wallace received a huge new contract averaging $12 million a year. This average puts him third among all wide receivers, behind only Calvin Johnson and Larry Fitzgerald. Is Mike Wallace really the third best receiver in the NFL?

Year	Base Salary	Cap Hit
2013	1,000,000	3,200,000
2014	15,000,000	17,200,000
2015	9,850,000	12,050,000
2016	11,450,000	13,650,000
2017	11,450,000	13,650,000

Three years ago, Wallace put up over 1,250 yards and 10 touchdowns, numbers he has yet to duplicate over the past two years. Even though the salary cap has not increased recently, the Miami Dolphins are paying Wallace as if it has.  

While relying on speed as his greatest asset, Wallace has shown a susceptibility to hamstring issues, which greatly limit his effectiveness.

In some ways, this contract is cleverly constructed.

Miami put the largest cap hit into 2014, while Ryan Tannehill is still on his rookie contract. They put the absolute minimum cap hit in 2013, allowing them to sign other free agents. The problem is that they went out and spent that money on a player a little farther down this list.

9. Sean Smith, CB, Kansas City Chiefs: 3 Years, $16.5 Million

The Kansas City Chiefs were one of the big spenders this offseason, but were they one of the big winners?

Sean Smith was drafted in 2009 by the Miami Dolphins in the second round. But after not living up to his talent level, they let him walk in 2013. 

Kansas City saw a big, talented cornerback, but they overlooked his lack of production in recent years when they gave him $7.45 million guaranteed. 

Year	Base Salary	Cap Hit
2013	715,000	2,965,000
2014	3,450,000	5,700,000
2015	4,250,000	7,500,000

According to Pro Football Focus, Smith allowed more combined first downs and touchdowns than any other cornerback in 2012. The market was flooded with corners in 2012, and the teams who reached early in free agency didn't get their money's worth.

8. Dannell Ellerbe, LB, Miami Dolphins: 5 Years, $34.75 Million

Every year the Super Bowl winner is scavenged by lesser-performing NFL teams in the hope that adding a proven winner will elevate their team to new heights. 

Dannell Ellerbe is just one of the many players the Ravens allowed to walk. Why? Because they know that these players are being overpaid in the hope that championship experience translates to future winning.

Year	Base Salary	Cap Hit
2013	1,000,000	2,425,000
2014	6,000,000	7,425,000
2015	8,425,000	9,850,000
2016	6,450,000	9,850,000
2017	6,000,000	7,425,000

Ellerbe was fantastic during the Ravens 2013 Super Bowl run, but he has shown little to prove that he deserves a long-term contract. Miami also let a productive player in Karlos Dansby go so they could sign Ellerbe.  

Whether he proves to be an upgrade or simply a more expensive replacement will be a key to Miami's success in the coming years.

7. Andy Levitre, G, Tennessee Titans: 6 Years, $46.8 Million

By all accounts, Andy Levitre is a very good player. The problem is that in today's NFL, teams can't afford to pay a guard eight million dollars a year while they still have more pressing needs.

Year	Base Salary	Cap Hit
2013	2,500,000	4,600,000
2014	6,500,000	8,600,000
2015	6,500,000	8,600,000
2016	6,500,000	8,600,000
2017	6,500,000	8,600,000
2018	5,800,000	5,800,000

This is a very acceptable contract for a quality left tackle. For a guard, it's just too much.

You could justify a move like this on a team that considers itself one guard away from a championship, but the Tennessee Titans are anything but one piece away.

The Titans' top 51 players in 2014 will account for almost $126 million according to Overthecap.com. Assuming the salary cap remains in the $125 million range, the Titans will have to make moves to clear up room just to sign their 2014 rookies.  

The Titans made a big splash by signing Levitre. Now they hope his 305-pound frame can help make a big splash on their offensive line.

6. Connor Barwin, OLB, Philadelphia Eagles: 6 Years, $36 Million

The Philadelphia Eagles had two things during this offseason: a lot of money, and a new coach looking to mix things up.

Playing next to J.J. Watt and Mario Williams in 2011, Connor Barwin had 11.5 sacks. Last year, he had only three. Barwin needs to become more reliable in both the run and pass game if he hopes to stay on the field (or on the team).

Year	Base Salary	Cap Hit
2013	700,000	1,300,000
2014	4,300,000	4,900,000
2015	5,500,000	6,100,000
2016	6,000,000	6,600,000
2017	7,000,000	7,600,000
2018	8,500,000	9,500,000

The upside for this contract is the low amount of guaranteed money. With only eight million guaranteed, the Eagles could easily walk away from this contract in 2015 and only suffer a $1.8 million cap hit.

The Eagles took a calculated risk in signing Barwin. If he performs like he did in 2011 instead of 2012, they can look back on this deal and laugh. If not, at least the Eagles can minimize their losses.

5. Erik Walden, LB, Indianapolis Colts: 4 Years, $16 Million

The Indianapolis Colts jumped right out of the gate this offseason, signing free agents left and right. It's unfortunate they didn't realize they were in a bidding war against nobody for Erik Walden.

Year	Base Salary	Cap Hit
2013	3,000,000	3,250,000
2014	4,000,000	4,250,000
2015	4,000,000	4,250,000
2016	4,000,000	4,250,000

This is a man who not once, but twice was rated the worst outside linebacker by Pro Football Focus. He just underperformed on a minimum-salary contract with the Green Bay Packers.

Some how, some way, the Colts decided to give Walden four million dollars guaranteed. 

The only saving grace is the low signing bonus of one million dollars. They can cut him before the fifth day of the 2014 league season without paying anything, and only take a $750,000 cap hit.

4. Chase Daniel, QB, Kansas City Chiefs: 3 Years, $10 Million

Ten. The number in millions of dollars Chase Daniel will most likely make over the next three years. Nine. The number of passes Daniel has attempted over the past three years. 

That's right, Daniel just received an eight-figure salary before completing his eighth pass in the NFL.

Year	Base Salary	Cap Hit
2013	800,000	1,800,000
2014	2,400,000	3,400,000
2015	3,800,000	4,800,000

An undrafted free agent in 2009, Daniel was beat out by Colt Brennan for a spot on the Redskins roster. He then wound up as a backup to Drew Brees for the past few years. 

The Kansas City Chiefs must be hoping he was watching closely, because there is nothing to show that Chase Daniel deserves anything more than a minimum contract.

Almost half of Daniel's total contract is guaranteed ($4.8 million). Andy Reid must have really liked the way he looked in preseason. Then again, everyone looks good in preseason. 

Don't believe me? Just ask John Beck.

3. Shonn Greene, RB, Tennessee Titans: 3 Years, $10 Million

The running back position has been devalued greatly over the past few years. Running backs can go from boom to bust in a year, and can be found late in the draft for cheap.

Nobody should know this better than the Tennessee Titans.

Year	Base Salary	Cap Hit
2013	1,650,000	2,483,333
2014	2,300,000	3,133,333
2015	3,250,000	4,083,333

After giving Chris Johnson a six-year, $55 million contract in 2011, they gave Greene a $10 million contract, of which $4.5 million is guaranteed.

Greene disappointed with the New York Jets after being drafted in the third round.  Tennessee is hoping he can be the thunder to Johnson's lightning.

With so many other needs can they really justify this move?

The Titans are now up against the cap in 2014. Considering they could have gotten a similar talent in the draft for a fraction of the cost, Greene will have to have a career year in 2013 to save the front office from ridicule.

2. Jared Cook, TE, St. Louis Rams: 5 Years, $35 Million

Free agency in 2013 featured a plethora of talented tight ends hitting the market. Martellus Bennett, Fred Davis, Delanie Walker, Brandon Myers and many more were all free agents this year. 

Most fell into the $3-5 million per year range, receiving two-to-three year contracts. Jared Cook was the exception.

Year	Base Salary	Cap Hit
2013	3,000,000	4,000,000
2014	3,000,000	7,000,000
2015	7,000,000	8,000,000
2016	7,000,000	8,000,000
2017	7,100,000	8,100,000

Cook is an exceptional talent, and at 6'5", a great target for any quarterback. It is surprising that with that large frame, he's never had more than 50 receptions or five touchdowns in a season in his first four years in the league.

Potential is a funny thing in the NFL. It's what every draft pick has before they prove that they can consistently perform in the league. 

Cook has loads of potential, but after four years without a breakout year, it's impossible to justify a star-quality contract for the tight end.

Cook is guaranteed $19 million over the next three years.

It's certainly possible Cook will live up to his potential and help propel Sam Bradford into the upper echelon of quarterbacks. It's more likely, however, that the St. Louis Rams just overpaid for a player who will produce inconsistently for years to come.

1. Tony Romo, QB, Dallas Cowboys: 7 Years, $119.5 Million

Tony Romo's six-year, $108 million extension, signed in late March, was one of the most hotly debated offseason stories of 2013. 

One side argued that the he deserved the free-market rate for a star quarterback. The other side complained that Jerry Jones just gave $100 million to a player with only one playoff win. 

Both sides fail to address the most important aspect of Romo's new contract extension: the structure of the contact.

Year	Base Salary	Cap Hit
2013	1,500,000	11,818,833
2014	13,500,000	21,773,000
2015	17,000,000	25,273,000
2016	8,500,000	15,135,000
2017	14,000,000	19,000,000
2018	19,500,000	19,500,000
2019	20,500,000	20,500,000

Romo is a very good quarterback, and receiving approximately $17 million a year is probably a fair price. The problem with this contract is everything apart from the overall price tag.

The Dallas Cowboys currently have a $139 million cap number for 2014 according to Overthecap.com, not including the $4-5 million they will need to spend on 2014 draft picks. 

The current salary cap of $123 million is only expected to increase slightly, meaning the cowboys will be close to $20 million over the salary cap before trying to sign any free agents.

The Cowboys also hope to retain the services of star pass rusher Anthony Spencer, who received $10.6 million under the franchise tag this year.

The most logical response for a front office in this scenario is to renegotiate. This process will give Tony Romo all the leverage, allowing him to receive more guaranteed money which will hit the salary cap in later years.

Romo already has $40 million guaranteed, with minimum cap hits of five million for both 2016 and 2017. The Cowboys are playing a dangerous game by giving a 33-year-old quarterback such large guarantees into the later years of a seven-year contract.

Romo is at his best when he can elude the pass rush and buy time for his receivers to get open. This also leads to him taking many more hits than someone like Peyton Manning.

The Romo extension gave the Cowboys very few options for future growth in 2014 and beyond. Jones has shown extreme loyalty to those he believes in. This time, it may have just crippled his franchise.