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Did the Redskins Overpay?

Did the Redskins Overpay?

As the Redskins have signed free agent after free agent over the past few days, the questions have kept popping up. How are they pulling this off with their supposed cap problems? And did they overpay for what they got?

The answer to the first one is easy. The Redskins’ cap guru, Eric Schaffer, is simply the best in the business. The organization doesn’t just throw around money; Schaffer crafts out each deal dollar by dollar, year by year to ensure that it fits within the team’s projected cap situation. The way Snyder runs the team generates the cash flow—cash beats cap—but it’s Schaffer who puts it all together.

Without going into details, (I’ve been told that the eyes of most of my readers here glaze over at such information) through the creative manipulation of the cap Schaffer and his team, helped by Snyder’s cash, can fit a six-year, $30 million contract with $10 million guaranteed into cap space of under $2 million in the first year.

And what about the other $28 million? Aren’t they just mortgaging the future, putting it on a big credit card that will come due at some point in the future?

Not really. To continue the credit card analogy, there a plenty of people out there who run up large credit card debts that manage them just fine. The bill for the balance never “comes due” as long as the money is managed properly with an eye towards the future. The debt can be refinanced and restructured as needed. You can keep on making purchases on the card as long as you stay under the limit and keep an eye towards the future. And you figure that as the years go by, you should be making more money, making the debt smaller relative to your income

The salary cap never “comes due”. It’s an ongoing thing. You can push money into future years indefinitely. As long as you don’t push too much into one season, you can keep doing it. Deals can be restructured and money pushed back. And the cap goes up from year to year, devaluing the dollars that you are pushing back.

To be sure, others use such maneuvers, but few do it as frequently and with such careful regard for the implications down the road as Schaffer does. Words like genius and mastermind get thrown around too often, but they apply to Schaffer. Should the team collect another Lombardi trophy in the next few years, Schaffer’s name should be engraved on it.
Perhaps one day the Petes and Lenny’s of the world will learn to praise the Skins’ cap management instead of predicting disaster year after year and then making snide comments about cheating when their forecasts bear no relationship to reality. I guess they’d rather continue to be wrong.

That’s how they paid. Now, did they overpay?

There is nary a Pro Bowl appearance among Adam Archuleta, Andre Carter, Brandon Lloyd and Antwaan Randle El. No league leadership in interceptions, receptions, or sacks among them. There are some highlight-reel moments starring some of these guys, no doubt. But their respective resumes, while better than pedestrian, are hardly the gold standard.

No gold changed hands, but a Brinks truck with some $40 million of guaranteed cash in it backed up to the facility at Redskins Park and dumped it on these four players (actually, Lloyd has not yet signed his deal, but he will get something in the neighborhood of $10 million guaranteed when he does). Did the Redskins pay filet mignon money for ground chuck?

First of all, in the year 2006, that is not filet mignon money. That went to center LeCharles Bentley, who the Browns are paying $36 million over six years with $12 million guaranteed, guard Steve Hutchison who will be paid $49 million over 7 years by either the Vikings or Seahawks, and running back Edgerrin James, who gets over $11 million guaranteed out of a four year, $30 million deal.

One thing that a lot of folks—media and fans alike—don’t seem to grasp is the fact that there is a lot more money to be spent this year than last. You hear a lot that each team’s cap went up $7.5 million due to the CBA extension. What you don’t hear much is that the cap was already slated to go up by $10 million even before the new labor agreement. Multiply that $17.5 million increase from 2005 to 2006 times the 32 NFL teams and you have over half a billion—that’s billion with a “b”—new cap dollars in play. It’s simple economics; when the money supply goes up, so do prices.

Still, it appears that the Redskins were happy to pay these guys more than anyone else was willing to. So, by that definition, they did overpay.
But if you get the player you want, it is really overpaying? Is it better to settle for someone who might save you a million or two but doesn’t quite fit your needs? A $2 million difference in guaranteed money on a six-year deal is $333,333 a season, or just less than the two-year veteran minimum salary. It adds up, no doubt, but it shouldn’t be enough to make you settle for second best.

Time will tell. Ultimately, the only thing that matters, the only way to judge whether or not the Redskins forked over too much money for a player, is results on the field. If the Redskins win and the new players fill their expected roles, it will have been worth every dollar and then some. If the team is not successful, it will be as though they had put a match to a dump truck full of $100 bills.

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Is Kirk Cousins the most overrated player in the NFL? One analyst says so

Is Kirk Cousins the most overrated player in the NFL? One analyst says so

Pete Prisco of CBS Sports declared Redskins quarterback Kirk Cousins the most overrated player in the NFL. Prisco repeatedly points out that while Cousins is a good quarterback, the notion that he should be paid like one of the best passers in the league is what makes him overrated.

From Prisco:

After having six 300-yard-plus passing games in his first 11 games, including two over 400, Cousins had one in the final five games last season as the Redskins pushed for a playoff spot. He had five touchdown passes and five interceptions in those games, going 2-3 as Washington folded. It wasn't all on him, but that's the point. I don't think he's a quarterback who rises above situations when the team isn't going right. I am not going to sit here and pan him as a starter. He has proven to be that, and a pretty good one. It's just that the perception is he's much better than that, which is why he's my most overrated player in the NFL in 2017.

Here's the problem with Prisco's login: Simple market economics. 

ROSTER BATTLES: Left guard | Tight end Nickel cornerback  | Inside linebacker | Running back

An argument can be made Cousins is a Top 10 passer. He's certainly in the top half of the league at the position. Few, if any, would argue Cousins is a Top 5 quarterback, but his contract situation forces him to be paid like he is. Those are the exact terms of the franchise tag, even before the 20 percent increase Washington paid this season to use a second-straight tag.  

Since the Redskins lost their window to sign their single-season passing yards record holder to a team-friendly deal last year, Cousins has leverage and the advantage of inflated QB salaries on his side.

That doesn't mean Cousins is overrated. 

If the threshold for being overrated is money, then Brock Osweiler wins this thing in a landslide. After the 2016 season in Houston, Osweiler seems unlikely to ever again be considered a starting QB in the NFL. He's due to be paid $18 million this fall and his offseason trade to the Browns will go down as the first-ever salary dump in NFL history. 

Is Cousins overpaid? Probably. That's the way contracts work in pro football. 

Is Cousins overrated? Probably not. He's thrown for more than 9,000 yards and completed about 68 percent of his passes over the last two seasons. 

There just aren't enough quarterbacks to go around in the NFL, and guys that can play the position get paid handsomely. That doesn't make Cousins overrated. 

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Lucky Whitehead a victim of mistaken identity according to police

lucky-whitehead.jpg

Lucky Whitehead a victim of mistaken identity according to police

It's been a confusing stretch for Cowboys receiver Lucky Whitehead. 

The charges against the Bealeton, Virginia native have now been dropped, after it was determined by Prince William County Police that Whitehead is not the man accused of shoplifting at a convenience store in Woodbridge, Virginia on June 22.

Here's the full statement released Tuesday:

Upon reviewing the June 22, 2017 arrest of an individual named “Rodney Darnell Whitehead, Jr.”, the police department is confident that the man charged with petit larceny, and who is subsequently being sought on an active warrant for failure to appear in court, is not Lucky Whitehead of the Dallas Cowboys.

The man charged on the morning of June 22 was not in possession of identification at the time of the encounter; however, did verbally provide identifying information to officers, which included a name, date of birth, and social security number matching that of Rodney Darnell Whitehead, Jr. Officers then checked this information through the Virginia Department of Motor Vehicles (DMV) database.

The DMV photo on file was then used to compare to the man who was in custody. Officers acted in good faith that, at the time, the man in custody was the same man matching the information provided. At this point, the police department is also confident in confirming that Mr. Whitehead’s identify was falsely provided to police during the investigation.

The police department is currently seeking the identity of the man involved in the incident. Since the identifying information provided by the arrestee during the investigation was apparently false, the police department is working with the Prince William County Commonwealth Attorney’s Office to clear Mr. Whitehead from this investigation. The police department regrets the impact these events had on Mr. Whitehead and his family. 

According to NFL Network's Ian Rapoport, the Cowboys hadn't officially released Whitehead on Monday, despite reports to the contrary. 

 

Although it's looking like he still may be looking for a new home.