Re: Bengals QB Palmer becomes highest paid player in NFL history
Now that I’m done defending Tom Brady, I’ll take an objective look at this deal. It’s actually a pretty good deal for both sides. The bonus money of $24 mil is spread over 8 years, so it counts $3 mil per year on the cap. They’ll probably pay him at least to the $9.5 mil in 2009, and maybe even the $10.5 in 2010. If they want to release him before 2011, they’ll have to take a $12 mil cap hit. Unless the new CBA greatly increases the cap or lessens cap penalties, he’ll most likely have to “Restructure” the deal (i.e. take less money). The length and total money of NFL deals is a joke. Nothing is guaranteed except the bonus money (and the first year). Since this is an extension, there is no real first year money more than what he was going to get paid anyway. Right before he got hurt, Drew Bledsoe signed an extension that was something like 10 years /$100 mil. It’s now about 5 years later and he’s already been traded then released. Still, it’s nice money for Palmer. Since he does seem to be one of the few “Premiere” QBs in the league, it makes sense for Cinci to lock him up. He does seem like he’ll be really good, Cinci better hope he doesn’t get hurt. A few years ago, Chad Pennington was supposed to be the next Tom Brady. Still, if you have a QB who is doesn’t suck, makes good decisions, and is more than a “game manager”, you should try to lock him up. It seems like there are only a handful of these guys in the league.
Now that I’m done defending Tom Brady, I’ll take an objective look at this deal. It’s actually a pretty good deal for both sides. The bonus money of $24 mil is spread over 8 years, so it counts $3 mil per year on the cap. They’ll probably pay him at least to the $9.5 mil in 2009, and maybe even the $10.5 in 2010. If they want to release him before 2011, they’ll have to take a $12 mil cap hit. Unless the new CBA greatly increases the cap or lessens cap penalties, he’ll most likely have to “Restructure” the deal (i.e. take less money). The length and total money of NFL deals is a joke. Nothing is guaranteed except the bonus money (and the first year). Since this is an extension, there is no real first year money more than what he was going to get paid anyway. Right before he got hurt, Drew Bledsoe signed an extension that was something like 10 years /$100 mil. It’s now about 5 years later and he’s already been traded then released. Still, it’s nice money for Palmer. Since he does seem to be one of the few “Premiere” QBs in the league, it makes sense for Cinci to lock him up. He does seem like he’ll be really good, Cinci better hope he doesn’t get hurt. A few years ago, Chad Pennington was supposed to be the next Tom Brady. Still, if you have a QB who is doesn’t suck, makes good decisions, and is more than a “game manager”, you should try to lock him up. It seems like there are only a handful of these guys in the league.