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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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The Final Countdown: Eli Manning goes deep for the Redskins 7th worst play of the year

The Final Countdown: Eli Manning goes deep for the Redskins 7th worst play of the year

As should be expected when a team goes 8-7-1, there were plenty of good moments and a lot of frustrating times during the Redskins’ 2016 season. Over the next couple of weeks, Redskins Insiders Rich Tandler and JP Finlay will take detailed looks at the 10 best plays of 2016 and, to present a more complete picture of the season, the 10 worst.

No. 7 worst play of 2016

Giants at Redskins, Week 17

4:02 left in Q4, Giants ball 1st and 10 at their own 31, game tied 10-10

Eli Manning pass deep left to Tavarres King pushed ob at WAS 25 for 44 yards (Will Blackmon).

Related: The Redskins week that was

Tandler: It looked like the Redskins were on the verge of saving their season. They were down 10-0 in the third quarter but they battled back to tie it up in the late going. But after lulling the Redskins defense to sleep with running plays and short passes, Manning launched one deep down the left sideline. King, who had one reception for six yards on the season coming into the game, had a step on cornerback Greg Toler and he hauled in the pass for 44 yards. Four plays later Robbie Gould kicked a 40-yard field goal to give the Giants the lead.

More Redskins: Offensive coordinator situation set?

Finlay: In a terrible game that led to many more questions than answers for the Redskins, this play was just a huge, huge disappointment. Washington fought back to tie up a game that they had largely been outplayed in, particulrly in the first half. Remember, the Giants had nothing to play for while for the 'Skins, a win would put them in the playoffs. The New York offense was laregly nonexistent in the second half of this game, as it became obvious Eli Manning did not want to get hit. And still, the embattled Redskins defense gave up a long pass play to a dude that had contrbuted basically nothing all season. 

10 best plays countdown

10 worst plays countdown

RELATED: 2017 NFL MOCK DRAFT 1.0

Want more Redskins? Check out @JPFinlayCSN and @Rich_TandlerCSN for live updates or click here for the #RedskinsTalk Podcast on iTunes, here for Google Play or press play below. Don't forget to subscribe!

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Report: One team Redskins need to watch out for when it comes to Kirk Cousins this offseason

Report: One team Redskins need to watch out for when it comes to Kirk Cousins this offseason

Mike Shanahan likes Kirk Cousins, both as a person and as a quarterback. The former Redskins coach has made no secret about that. Luckilly for the 'Skins, especially with Cousins staring at free agency, Mike Shanahan is no longer coaching in the NFL.

His son Kyle, however, seems highly likely to take over as San Francisco 49ers head coach. And soon.

Kyle Shanahan currently serves as the offensive coordinator for the Atlanta Falcons, and once their playoff run ends, most expect Shanahan to be named Niners head coach. 

Why should Washington fans care? Allow ESPN's Adam Schefter to explain:

Kyle Shanahan is set to become the San Francisco 49ers' head coach after Atlanta's season ends. San Francisco needs a quarterback as much as any other team in the league. If Cousins is available, the 49ers would pursue him as hard as they've pursued Shanahan.

Even if Washington tags Cousins, San Francisco could attempt to pry him loose in a trade with a package that could include this year's No. 2 overall draft pick. And if Washington doesn't want to deal now, it could have issues later.

This news should not be a shock to Skins fans, but it should be taken seriously. Remember, Kyle Shanahan was part of the Washington organization when Cousins was drafted and the duo worked together in 2012 and 2013. Most quarterbacks would love to run Shanahan's No. 1 ranked offense from Atlanta, and the guess here says Cousins would probably jump at the opportunity. 

Still, much must be worked out.

While some in the Washington front office might have questions about what the long-term value should be in a Cousins contract, the team still has some control. They can place the franchise tag on Cousins this season, like they did last season, and work until mid-summer on a multi-year deal. Or Cousins can again play on a franchise tag in 2017, like he did in 2016 and passed for nearly 5,000 yards.

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What makes Schefter's report the most interesting is the mention of the No. 2 overall pick. Observing the Redskins in 2016, it became obvious the team needs more impact players on defense, and with the second overall pick combined with their own 17th pick and eight more after that, that could deliver an immediate boost. 

Whatever boost a package of draft picks might bring in will be hard pressed to match the production of Cousins. Finding a starting quarterback in the NFL is exceptionally hard, and while Cousins has shown flashes of a special player, he has certainly confirmed he is a capable player in two seasons at the helm of Jay Gruden's offense.

Scot McCloughan and the Redskins brain trust have a few more weeks before free agency, and with it, the deadline to again place the franchise tag on Cousins. It's nearly impossible to see a scenario where Cousins hits the open market this season, but if the No. 2 overall pick comes into play, other scenarios start to seem more possible. 

RELATED: 2017 NFL MOCK DRAFT 1.0

Want more Redskins? Check out @JPFinlayCSN for live updates or click here for the #RedskinsTalk Podcast on iTunes, here for Google Play or press play below. Don't forget to subscribe!