The Best and Worst Contract Values of Early 2016 NFL Free-Agency Period

All NFL teams are looking for bargains in the free-agency period. Whether it's adding talent from other clubs or making sure their own stays, franchises must secure their rosters and properly manage the salary cap.

Some do a better job than others. There are some exceptions in which shelling out the big bucks looks like a good idea at the moment, but there are always ramifications.

Here's a look at the best and worst contracts signed in the first week of the fiscal year in the NFL. Good (or bad) value will be determined by the player's expected contributions in 2016 and beyond relative to contract size.

Best: T Mitchell Schwartz, Kansas City Chiefs

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Contract terms: five years, $33 million, $20.7 million guaranteed

When you can obtain the top-rated player at his position and an extremely reliable performer, it adds up to a home run.

Via Pro Football Focus, there were only five offensive tackles ranked ahead of Mitchell Schwartz in 2015. All of those players were left tackles. A second-round pick by the Cleveland Browns in 2012, the University of California product started all 64 games for the club the past four seasons.

Schwartz's five-year deal comes at a very reasonable cost, and his cap hit in 2016 is just $4.5 million. When you consider he's yet to miss a game in his brief career, the Kansas City Chiefs have signed a potential Pro Bowler at minimal expense.

Worst: DE Olivier Vernon, New York Giants

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Contract terms: five years, $85 million, $52.5 million guaranteed

It was obvious Miami Dolphins defensive end Olivier Vernon was going to come at a steep price. The club initially slapped the transition tag on the four-year pro, who totaled 29 sacks in four seasons in South Florida.

The New York Giants, who totaled just 23 sacks in 2015, bit and signed him to the second-biggest contract of this offseason—topped only by the money the Jacksonville Jaguars gave defensive end Malik Jackson (five years, $85.5 million) to leave the Denver Broncos.

Vernon hit the open market shortly after Miami rescinded the transition designation on the first day of free agency, according to Alain Poupart of Dolphins.com. But did the Giants overpay? Maybe not, if he can come up with 12-plus sacks in each of the next five seasons.

Considering what he will cost them cap-wise each year and that his guaranteed money substantially exceeds Jackson's ($42 million), the addition of Vernon comes at a very lofty price.

Best: RB Chris Ivory, Jacksonville Jaguars

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Contract terms: five years, $32 million, $10 million guaranteed

In 2015, only five teams in the NFL gained fewer rushing yards than the Jacksonville Jaguars.

This past season, no player in the AFC gained more yards on the ground than New York Jets running back Chris Ivory. Now the 2015 Pro Bowler pairs with second-year pro T.J. Yeldon to give quarterback Blake Bortles a little extra oomph in the backfield.

In six seasons with the New Orleans Saints and Jets, Ivory has rushed for 4,031 yards and 24 scores on just 883 carries. That's not a lot of wear and tear on a player coming off the best season of his career.

Pairing with Yeldon will also increase the shelf life for both runners and gives the Jaguars some added options that they certainly lacked this past season.

Worst: Alex Mack, Atlanta Falcons

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Contract terms: five years, $45 million, $28.5 million guaranteed

With seven seasons under his belt and three of those resulting in Pro Bowl invitations, Alex Mack's resume speaks for itself.

But were the Atlanta Falcons wise when it came to guaranteeing a whopping $28.5 million at one position when the club has more pressing needs?

Mack is no doubt one of the best centers in the league but turns 31 years old in November. It would be unfair to use his 2015 performance, as noted by Pro Football Focus, as a gauge of his overall play, considering he missed the final 11 games of the previous year with a broken leg.

Money will become an issue in 2017 when Mack's cap hit more than doubles ($9.05 million) from this upcoming season ($4.05 million).

Best: TE Ladarius Green, Pittsburgh Steelers

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Contract terms: five years, $20 million, $4.75 million guaranteed

It became very fashionable to expect big things from San Diego Chargers tight end Ladarius Green. A fourth-round pick in 2012, he caught just 17 passes in his second season, three for scores, but averaged a gaudy 22.1 yards per reception.

Green comes off the best showing of his brief career, but four years have added up to just 77 grabs for 1,087 yards and seven touchdowns. That's an OK year for Rob Gronkowski.

With the retirement of 11-year pro Heath Miller, the Pittsburgh Steelers had a need at tight end. The signing of Green comes at a low cost, and his guaranteed money is almost laughable. With Ben Roethlisberger pulling the trigger, the young performer turns in one standout quarterback (Philip Rivers) for another.

The way the Steelers' downfield passing game operates these days, Green will be putting up much bigger numbers.

Worst: DE Cedric Thornton, Dallas Cowboys

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Contract terms: four years, $17 million, $9 million guaranteed

One year after ranking eighth in the NFL in rushing defense, the Dallas Cowboys slipped to the bottom half of the league (22nd) in this department in 2015. The team also totaled just 31 sacks.

So the club opted to bolster the defensive line with the addition of a divisional rival.

This past season, Cedric Thornton started 13 games and played a total of 501 snaps for the Philadelphia Eagles. His forte is stopping the run, but he ranked a so-so 17th in the league in this department when it came to 3-4 defensive ends, according to Pro Football Focus. He brings nothing when it comes to the pass rush, notching one sack in each of his four seasons.

The effort to improve the defense in Dallas is to be applauded. But Thornton does not appear to be the answer in the area when help is most needed unless he improves his overall game in this new setting.

Best: RB Lamar Miller, Houston Texans

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Contract terms: four years, $26 million, $14 million guaranteed

Timing is everything.

The Houston Texans were looking for a new workhorse in the backfield, and Miami Dolphins running back Lamar Miller was available…and looking.

"I just wanted a new start," said Miller, via Tania Ganguli of ESPN.com. "I want to be a featured back. With this organization, I know they get their running backs involved. I just wanted to be a part of it."

Now the four-year pro will be a big part of it. Over the past two seasons in Miami, Miller took on a much bigger role and responded. He totaled 32 starts, amassed 2,643 yards from scrimmage and scored 19 touchdowns.

The beauty of this deal for Houston is that the young running back turns 25 on April 25. His biggest workload in one season to date has been just 216 carries in 2014. He's more than a bargain at his current price.

Worst: TE Coby Fleener, New Orleans Saints

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Contract terms: five years, $36 million, $18 million guaranteed

There have been some outstanding performances by New Orleans Saints tight ends in recent years.

In five seasons with the franchise, Jimmy Graham collected 386 receptions, 51 for touchdowns, before being traded to the Seattle Seahawks last offseason.

This past season, veteran Ben Watson totaled career highs in catches (74) and receiving yards (825) and tied his season best with six scores. Last week, he signed with the Baltimore Ravens.

Now Coby Fleener hopes to put up similar numbers with prolific passer Drew Brees. In four seasons with the Indianapolis Colts, the 2012 second-round pick amassed 183 catches, averaging 11.8 yards per reception and scoring 17 touchdowns.

He totaled a career-best 54 grabs last season but averaged a disappointing 9.1 yards per catch. Playing with numerous quarterbacks will do that.

The Saints are obviously hoping they will be getting a lot more from Fleener than he managed with Indianapolis, where he shared the positional workload with Dwayne Allen. But this cap-strapped team has put a lot of money and long-term faith into a player who has been average at best to date.

Unless otherwise noted, all player and team statistics come from Pro-Football-Reference and ESPN.com. All player ratings courtesy of Pro Football Focus. All 2016 contract terms and 2016 transactions are courtesy of Spotrac.