The Real Math Behind the Top 15 2015 Free Agent Deals
Just over a week into NFL free agency and for many teams, they have done what they set out to do.
Here we are going to peek behind the curtain a bit, and primarily with the assistance of Spotrac, we are going to take a closer look at the top contracts signed by players changing teams this offseason and what they really mean.
We simply chose the 15 highest-paying deals, according to the total figure of the deal. Each of these players have signed contracts worth at least $30 million, and all of these deals are either four-, five- or six-year contracts.
As you will notice, there are a few teams represented more than once on this list. But this is less about the clubs and more about the ins and outs of the deals in terms of signing bonuses, salary-cap ramifications and more.
So spend a little time reading about spending a lot of money.
And yes, none of us would say no to these lucrative deals.
DT Ndamukong Suh Signs 6 Years, $114.4 Million with Miami Dolphins
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Everyone knew that Detroit Lions defensive tackle Ndamukong Suh was going to cash in this year, be it from the team that drafted him or one of the other 31 clubs.
The Miami Dolphins reeled in the four-time Pro Bowler with the largest contract of this free-agent period. This was a team looking to make a splash this offseason, and for a change, it didn’t come from a mammal doing tricks.
Contract terms: six years, $114.4 million
Guaranteed money: $59.955 million
2015 salary: $985,000 ($59.955 million in dead cap)
2016 salary: $23,485,000 ($53.87 million in dead cap)
2017 salary: $9,985,000 ($25.285 million in dead cap)
2018 salary: $16,985,000 ($10.2 million in dead cap)
2019 salary: $18,985,000 ($5.1 million in dead cap)
2020 salary: $18,360,000
What it means: Ryan Wilson of CBSSports.com (with the help of OvertheCap.com's Jason Fitzgerald) has the not-no-skinny salary cap situation when it comes to Suh, who receives a $25.5 million signing bonus spread out over the first five years of this deal.
According to Fitzgerald, the real issue is the second year of the contract. “The 2016 season in particular is worrisome,” said Fitzgerald. “His $28.6 million cap charge is crippling, and the team will need to decide to restructure for cap relief, making his future cap charges even more difficult to handle, or bite the bullet and realize what a mistake they made.”
Fitzgerald continued. “This is the same contract structure the Dolphins recently used with receiver Mike Wallace, who had a cap hit of $3.25 million in his first contract year and a $17.25 million hit in his second year.”
This will get interesting, to say the least.
CB Darrelle Revis Signs 5 Years, $70 Million with New York Jets
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As we all know, an island is a body of land completely surrounded by water.
That’s a perfect description for the career of cornerback Darrelle Revis, who after beginning his career with the New York Jets and making stops in Tampa and Foxborough, has come full circle by signing with the Green and White.
Contract terms: five years, $70 million
Guaranteed money: $39 million
2015 salary: $16 million ($39 million in dead cap)
2016 salary: $17 million ($23 million in dead cap)
2017 salary: $15 million ($6 million in dead cap)
2018 salary: $11 million
2019 salary: $11 million
What it means: The six-time Pro Bowler and Super Bowl XLIX champion with the New England Patriots will receive $39 million in guaranteed money from his new/old team. That means the first ($16 million) and second ($17 million) years of his contract are guaranteed, along with 40 percent ($6 million) of his 2017 salary.
Of course, that means a big cap hit for the Jets in 2015 in the aforementioned $16 million. But when you can add arguably the best player at his position to a team and welcome back a prodigal son (and a wealthy one at that), it’s a great move for all involved and certainly worth the expense for a player still very much in his prime.
It also allows the Jets to reevaluate their situation with Revis after the 2016 season when the dead cap hit falls to $6 million in 2017.
CB Byron Maxwell Signs 6 Years, $63 Million with Philadelphia Eagles
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It’s not easy to give up 30 touchdown passes when your pass rush manages to come up with 49 sacks.
Cornerback Byron Maxwell wouldn’t know too much about that. He played on a Seattle Seahawks defense that gave up 25 offensive touchdowns in 16 regular-season games.
Now he’s got plenty of money for cheesesteaks and scrapple after inking a six-year deal with the Philadelphia Eagles. Not a bad deal for a sixth-round draft choice from Clemson in 2011.
Contract terms: six years, $63 million
Guaranteed money: $25.5 million
2015 salary: $1 million ($25.5 million in dead cap)
2016 salary: $8.5 million ($23.3 million in dead cap)
2017 salary: $10 million ($3.6 million in dead cap)
2018 salary: $9.75 million ($2.4 million in dead cap)
2019 salary: $9.5 million ($1.2 million in dead cap)
2020 salary: $10.5 million
What it means: The four-year pro will see his salary guaranteed during the first three years of his deal. Add in a $6 million signing bonus (spread out evenly over five years), and it’s quite the payday for Maxwell, who last year saw then-teammates Earl Thomas and Richard Sherman cash in with the Seattle Seahawks.
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WR Jeremy Maclin Signs 5 Years, $55 Million with Kansas City Chiefs
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When it was all said and done, wide receiver Jeremy Maclin opted to rejoin a chip off his old block.
The big-play performer comes off a huge 2014 and has parlayed it into a big payday with head coach Andy Reid, who helped draft the former Missouri star in 2009 with the Philadelphia Eagles.
This past season, Maclin totaled 85 receptions for 1,318 yards and 10 touchdowns. That was 10 more scoring receptions than any other Kansas City wide receiver managed in 2014.
Contract terms: five years, $55 million
Guaranteed money: $22.5 million
2015 salary: $750,000 ($22.5 million in dead cap)
2016 salary: $9.75 million ($19.35 million in dead cap)
2017 salary: $9.75 million ($7.2 million in dead cap)
2018 salary: $10.75 million ($4.8 million in dead cap)
2019 salary: $10.75 million ($2.4 million in dead cap)
What it means: Combine a $2.4 million signing bonus with Maclin’s salary each of the first two years of this deal, and you come up with the wideout’s guaranteed money. While the cap hit for the six-year pro is just $3.4 million this upcoming season, it’s a minimum of $12.4 million in each of the final four years of the contract.
TE Julius Thomas Signs 5 Years, $46 Million with Jacksonville Jaguars
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Will the Denver Broncos’ loss be the Jacksonville Jaguars’ gain?
That remains to be seen. But head coach Gus Bradley is certainly happy to add a component that figures to make life much easier for quarterback Blake Bortles as he enters his second year in the league.
Jacksonville’s passing game has produced a combined 31 scores the past two seasons. Thomas caught 12 touchdown passes in both 2013 and 2014.
Contract terms: five years, $46 million
Guaranteed money: $24 million
2015 salary: $9 million ($21 million in dead cap)
2016 salary: $6 million ($10.8 million in dead cap)
2017 salary: $7 million ($3.6 million in dead cap)
2018 salary: $8.5 million ($2.4 million in dead cap)
2019 salary: $9 million ($1.2 million in dead cap)
What it means: The two-time Pro Bowler cashed in big time with a franchise that was willing to spend money. The first two years of Thomas’ base salary are guaranteed, along with nearly half of his $3 million of 2017. He also receives a $6 million signing bonus spread out over the five years of his contract. Not bad for a fourth-round draft choice in 2011 who signed a four-year, $1.683 million-dollar deal that year.
DT Jared Odrick Signs 5 Years, $42.5 Million with Jacksonville Jaguars
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In five seasons with the Miami Dolphins, defensive tackle Jared Odrick never played in a postseason game and was never part of a winning season.
Now he heads to another Florida franchise in the NFL hoping to reverse the fortunes of a team that hasn’t been to the playoffs since 2007.
According to Pro Football Focus, Odrick was easily the Dolphins’ best defensive tackle in 2014, and that’s saying a lot for a team that ranked 24th in the league vs. the run this past season.
Contract terms: five years, $42.5 million
Guaranteed money: $22 million
2015 salary: $4 million ($17 million in dead cap)
2016 salary: $8 million ($8 million in dead cap)
2017 salary: $6.5 million
2018 salary: $8.5 million
2019 salary: $8.5 million
What it means: Odrick certainly got a nice payday from the Jaguars, but it wasn’t like he didn’t do well financially with the Dolphins. The 2010 first-round pick’s rookie contract was for five years and $13.1 million. The vast majority of Odrick’s guaranteed money comes from the combination of the first two years of his base salary along with a $5 million roster bonus.
RB DeMarco Murray Signs 5 Years, $40 Million with Philadelphia Eagles
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Maybe Philadelphia Eagles head coach Chip Kelly does know what he’s doing.
Despite a sense of panic in the City of Brotherly Love during the first few days of free agency, the Birds somehow managed to replace the 2013 NFL rushing champion (LeSean McCoy) with DeMarco Murray, who ran for a league-high 1,845 yards this past season.
Talk about making the already-contentious rivalry between the Eagles and Dallas Cowboys even more interesting?
Contract terms: five years, $40 million
Guaranteed money: $21 million
2015 salary: $1 million ($18 million in dead cap)
2016 salary: $7.5 million ($13 million in dead cap)
2017 salary: $7.5 million ($5 million in dead cap)
2018 salary: $7.5 million ($2 million in dead cap)
2019 salary: $7.5 million ($1 million in dead cap)
What it means: A third-round pick by the Cowboys in 2011, Murray will get a $5 million signing bonus and is also in line for some additional money based on performance. Over each of the first four years of his contract, the 2014 NFL rushing champion gets a $250,000 salary escalator if he runs for 1,250 yards and a $500,000 salary escalator if Murray rushes for 1,450 yards.
G Mike Iupati Signs 5 Years, $40 Million with Arizona Cardinals
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In terms of guards, Mike Iupati was the big prize on the free-agent market. And the division-rival Arizona Cardinals were more than happy to scoop him up.
The three-time Pro Bowl blocker was part of a San Francisco ground attack that ranked eighth, fourth, third and fourth in the league, respectively, from 2011-14.
Over those same four seasons, the Cardinals finished 24th, 32nd, 23rd and 31st in the NFL in the same category. Iupati was far from a one-man show, but he’s a big upgrade for Bruce Arians’ club.
Contract terms: five years, $40 million
Guaranteed money: $22.5 million
2015 salary: $1.5 million
2016 salary: $4.5 million
2017 salary: $8 million
2018 salary: $7.75 million
2019 salary: $7.75 million
What it means: Josh Weinfuss of ESPN.com goes into more detail about Iupati’s five-year deal, which features low base salaries the first two years. Of course, Weinfuss explains that the three-time Pro Bowler will actually pocket $11.5 million in 2015 thanks to both the signing and roster bonuses that Iupati has already received.
WR Torrey Smith Signs 5 Years, $40 Million with San Francisco 49ers
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Well, what do you know? There’s a football player actually joining the San Francisco 49ers.
With all the talk of defections and retirements for the NFC West club, wide receiver Torrey Smith took the money and ran (very fast!) to the Bay Area.
The speedy wideout spent four productive seasons with the Baltimore Ravens. Smith played in all 64 regular-season games with the club and made 62 starts. He totaled 213 catches for 3,591 yards (16.9 yards per reception) and 30 scores, a career-high 11 scores coming in 2014.
Contract terms: five years, $40 million
Guaranteed money: $22 million
2015 salary: $750,000 ($8.75 million in dead cap)
2016 salary: $4.5 million ($6.4 million in dead cap)
2017 salary: $6.5 million ($4.8 million in dead cap)
2018 salary: $6.5 million ($3.2 million in dead cap)
2019 salary: $6.5 million ($1.6 million in dead cap)
What it means: It’s pretty easy math. More than half ($22 million) of Smith’s contract is guaranteed, and the deal is loaded with incentives, including bonuses for workouts and games played. His contract also includes an $8 million signing bonus in which he will receive $1.6 million in each of the five years of the deal.
OLB Pernell McPhee Signs 5 Years, $38.8 Million with Chicago Bears
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In four seasons with the Baltimore Ravens, linebacker Pernell McPhee got a chance to learn from some of the best defensive players in the league.
The Chicago Bears are certainly hoping he retained that knowledge. A team that has finished 30th in the NFL in total yards allowed each of the last two seasons needs help in a big way.
McPhee only made six starts in four seasons with the Ravens (all in 2012 and along the defensive line), but that also marked the only year he missed any action. It all came together this past season for the talented defender, totaling a career-high 7.5 sacks for John Harbaugh’s squad.
Contract terms: five years, $38.8 million
Guaranteed money: $15.5 million
2015 salary: $1 million
2016 salary: $7 million
2017 salary: $6.95 million
2018 salary: $7.2 million
2019 salary: $7.625 million
What it means: McPhee was the 165th overall pick (fifth round) in the 2011 NFL draft, so you know he didn’t make a “lot” of money in four NFL seasons. It’s safe to say that’s changed, as the four-year defender agreed to a modest $2.5 million but gets a $5 million roster bonus right from the get-go. McPhee will also earn money via workout bonuses.
G Orlando Franklin Signs 5 Years, $35.5 Million with San Diego Chargers
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Versatility is always a plus in the game of football and we saw plenty of that from offensive lineman Orlando Franklin the last two seasons with the Denver Broncos.
A starter at right tackle during the team’s Super Bowl season of 2013, the second-round pick in 2011 from the University of Miami was shifted to left guard this past season on Denver’s revamped offensive front. Now he takes his play to San Diego as the Chargers look to get their running game (30th in the NFL in 2014) back on track.
Contract terms: five years, $35.5 million
Guaranteed money: $15.5 million
2015 salary: $3 million ($15.5 million in dead cap)
2016 salary: $5.5 million ($11.1 million in dead cap)
2017 salary: $6 million ($4.2 million in dead cap)
2018 salary: $6.75 million ($2.8 million in dead cap)
2019 salary: $7.25 million ($1.4 million in dead cap)
What it means: Franklin will get a $7 million signing bonus spread out over the five years of his contract. That money, along with the first two years of his base salary, comprises the $15.5 million guaranteed part of his deal. It’s a pretty big bump for the former Hurricane, who signed a four-year $4.356 million contract as a rookie.
CB Chris Culliver Signs 4 Years, $32 Million with Washington Redskins
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It was a subpar season for the San Francisco 49ers, but don’t tell that to cornerback Chris Culliver. The four-year pro was a bright spot on a defensive unit that ranked fifth in the league in total yards allowed but played for a team that finished 8-8.
Culliver ranked fifth on the club with 45 stops and tied for second on the Niners with four interceptions. He also knocked down 15 passes, the second-highest total on the team. Now he joins a Redskins’ defensive unit that has allowed a whopping 98 offensive touchdowns the past two seasons combined.
Contract terms: four years, $32 million
Guaranteed money: $16 million
2015 salary: $3 million ($16 million in dead cap)
2016 salary: $8 million ($11.75 million in dead cap)
2017 salary: $8 million ($2.5 million in dead cap)
2018 salary: $8 million ($1.25 million in dead cap)
What it means: As a rookie with the 49ers in 2011, Culliver signed a four-year, $2.64 million deal. This upcoming season, his base salary alone is $3 million, and those numbers increase to $8 million in each of the final three years of his deal. Culliver also gets a $5 million signing bonus spread out evenly over the four years of the contract. His cap hit for 2015 is a modest $4.25 million.
CB Antonio Cromartie Signs 4 Years, $32 Million with New York Jets
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Who says you can’t go back home? Well, go back to at least one of your homes.
The New York Jets have added three veteran corners during this free-agency period. We have already read about Revis, and many may not be as familiar with Buster Skrine, lately of the Cleveland Browns.
Like Revis, Antonio Cromartie returns to the Jets after playing for defensive coordinator Todd Bowles (now New York’s head coach) in 2014.
Contract terms: four years, $32 million
Guaranteed money: $20 million
What it means: There was no specific breakdown for Cromartie’s contract available via Spotrac or Over the Cap. However, FOX Sports NFL Insider Mike Garafolo reported last Thursday that the four-year deal could have a maximum value of $35 million.
Of course, the much more interesting number is what Cromartie, Revis and Skrine can do for a Jets team that allowed 31 touchdown passes and totaled only six interceptions in 2014.
T Jermey Parnell Signs 5 Years, $32 Million with Jacksonville Jaguars
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It must be the Year of the Cat in Jacksonville. For the third time in this feature, here’s a player that the Jaguars managed to scoop up and give big bucks to this offseason.
Tackle Jermey Parnell was part of a Dallas Cowboys offensive line this past season that was very likely the best in the business. The 6’6”, 315-pound blocker played in all 16 games with the team the past three seasons and, in 2014, started five games in place of injured right tackle Doug Free.
Contract terms: five years, $32 million
Guaranteed money: $14.5 million
2015 salary: $3 million ($14.5 million in dead cap)
2016 salary: $6.5 million ($6.5 million in dead cap)
2017 salary: $6.5 million
2018 salary: $5 million
2019 salary: $5 million
What it means: The Cowboys basically had to choose between re-signing Free and Parnell, and since the former was inked to a new deal before free agency began last week, the writing was on the wall.
That’s a good thing for the young tackle, who, according to Michael DiRocco of ESPN.com, received a nice $5 million roster bonus on March 14, while his base salary this upcoming season and in 2016 are guaranteed.
OLB Brian Orakpo, Tennessee Titans
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The 13th overall pick in the 2009 draft, injuries have unfortunately been a big part of Brian Orakpo’s resume in recent seasons.
The three-time Pro Bowler has totaled 40 sacks in six seasons, but 28.5 of those quarterback traps came the first three years. Orakpo missed the final 14 games of 2012 and played in only seven contests this past season.
Contract terms: four years, $31 million
Guaranteed money: $13.5 million
2015 salary: $3 million ($8 million in dead cap)
2016 salary: $6.5 million ($3.75 million in dead cap)
2017 salary: $5.75 million ($2.5 million in dead cap)
2018 salary: $725 million ($1.25 million in dead cap)
What it means: If he stays healthy, he’s a great addition to a defense now spearheaded by coordinator Ray Horton and assistant head coach Dick LeBeau. The Redskins’ designated franchise player in 2014, Orakpo’s base salary this upcoming season and a $5 million signing bonus are initially guaranteed. It’s also worth noting that a $200,000 base escalator kicks in if he’s named to the Pro Bowl.
All free-agent information and player signings/transactions are courtesy of Spotrac. Unless otherwise noted, all player and team statistics come from Pro Football Reference and ESPN.com.
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