Elster's World

Thursday, March 06, 2008

The New Contract

From the Daily News:

The Daily News has obtained the contract breakdowns for The Big Four - Alan Faneca, Kris Jenkins, Damien Woody and Calvin Pace.

• Technically, Pace’s deal has $12.5 million in guarantees (including an $11 million signing bonus). It was widely reported as $22 million in guarantees. What gives? Well, he’s due a $9 million roster bonus in 2009. That can’t be counted as guaranteed money, although, for practical purposes, it is.

• GM Mike Tannenbaum frontloaded the contracts. Of the total value of the four deals ($137.75 million), $79.2 million is due to be paid out in the first three years. For cap purposes, this makes sense.

• Pace’s contract borders on mind-boggling. He’s due to make $26 million in the first three years, topping Faneca ($24 million). For that price, Pace had better perform like an All-Pro. On his conference call the other day, Pace said, “I’m not a savior.” Well, guess what, dude? With that kind of contract, you’ll be expected to produce more than 6½ sacks a year.

• Not surprisingly, Woody, like Fat Man Jenkins, has workout and weight clauses in his contract. He can make $400,000 a year by working out and making his prescribed weight.

• Strictly an educated guess here, but I’d say they have anywhere from $6 million to $8 million in available cap room - even after the spending spree. They will recoup another $8 million when DT Dewayne Robertson is sent packing.

As I mentioned previously, the Pace deal seems to be the most (insane??) curious of this bunch. It just feels like way too much money for a guy no one's ever heard of before. Of course, if he averages 10 sacks a year, all will suddenly make sense. Also seems insane that the team has money to spend, but they still have to sign their draft picks, including a top 6 pick (unless they trade down).

The more I think about it, the more this smacks of desperation on the part of team Tangini to keep their jobs beyond the season. I hope it works out or the team is ruined for years to come.

- Jets also signed Tony Richardson, a 36 year old pro bowl fullback, to a one year deal.


  • Check out Rich Cimini's blog for the number breakdown - HTML wouldnt let me copy and paste.

    By Blogger Elster, at 12:42 PM  

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