Warren deal 5-year extension, not 3!

[Isaac]

Miguel reported this two days ago in this thread (where there is continued discussion on this)...

http://www.patsfans.com/new-england-patriots/messageboard/showthread.php?t=58740

...that it actually was a 5-year extension rather than the 3-year extension originally reported. But I had to go to, egads, KFFL to learn about it! Please people, don't post MAJOR news on page 7 of an old thread! This is a huge development!

Also see Reiss's pieces http://www.boston.com/sports/football/patriots/reiss_pieces/

It's a remarkably cheap deal. I feel a little bad for Ty that he's taking so much less than he could have gotten, but that's his decision. This is about the same type of deal that the team has offered other homegrown talent--it takes two to tango.

 

[sarge]

WOW!!!!!!!!!!!!!!!!!!!!!!!!!

Most of us thought the numbers looked great over 5 years, the two remaining and three extended.

I'm betting those numbers look significantly better over 7.

I'm a bit stunned to say the least.

 

[Isaac]

“Stunned” is a great word for it. A few more thoughts:
- The erroneous original report of ~11 million a year for a 3-year extension (36/3 minus rookie contract numbers) sure seemed like a lot, though it seemed justifiable given that these are 2009-2011 dollars and Ty plays DE. ~7 million per year is just ridiculously cheap in future cap dollars at this position.
- Miguel estimates that his cap numbers in 2010-2013 will be ~5 million. After salary cap inflation, this will seem free.
- He is now our longest-signed player. (And only Stallworth is signed through 2012.)
- Ty’s agent had to have been screaming at him not to sign this deal.
- This signing might in some way be the fruition of the hard-line the Patriots have taken with other players (e.g. Branch). Ty must have realized that if he didn’t take an extension, he wasn’t getting out of his rookie deal through hold-outs and such.
- He will be 34 years old when this deal expires (born 2/81, deal ends 3/14). Unlike the Seymour deal, Ty has given up getting a second major deal during his career. We have him for his prime. On the flip-side, if he winds down a bit in his early 30's he won't need to be cut for cap reasons.
- Ty really did choose “love of the game” (i.e., love playing for the Patriots) over $$. Time to embrace this guy like we do Bruschi. Thank you Ty Warren!!

 

[All_Around_Brown]

The Pats braintrust does it again. Lets get BB signed long term and all will be good.

 

[PatsWickedPissah]

Like Troy and Tedy, I believe that Ty will be 'taken care of' by the Pats org.

 

[DarrylS]

The Pats braintrust does it again. Lets get BB signed long term and all will be good.

While no one seems to know what BB's status is, he will be here as long as he wants to be, Mr. Kraft has a Midas touch and he knows who has helped him make millions.. what we do know is that this is a very good deal for the Pats and Warren..

 

[ArmyPatsFan]

Wow....have to think that if Warren keeps performing the Pats will throw some more his way. Great job by the Pats on this...

 

[stinkypete]

After all is said and done, this might be our best move of the offseason. Look at all the teams struggling to establish a 3-4, Arizona, Cleveland, San Francisco. Warren is one of the top 5 or so 3-4 DE's in the game. If he hit free agency, there'd be a bidding war for him.

 

[patchick]

Wow....have to think that if Warren keeps performing the Pats will throw some more his way. Great job by the Pats on this...

Just because it's a good deal for the Patriots doesn't mean it's not a good deal for the player, too. Warren opted for a bird in the hand -- a huge signing bonus two years before he was due to hit free agency. Yes, he has limited the potential upside of his future earnings, but he's also raised the floor by millions and millions of dollars. Turning down that kind of cash in hopes of a future bonanza in free agency is risky. Warren made a solid, conservative financial decision and is now guaranteed rich for life. That has to be a reassuring feeling.

 

[ClevTrev]

Just because it's a good deal for the Patriots doesn't mean it's not a good deal for the player, too. Warren opted for a bird in the hand -- a huge signing bonus two years before he was due to hit free agency. Yes, he has limited the potential upside of his future earnings, but he's also raised the floor by millions and millions of dollars. Turning down that kind of cash in hopes of a future bonanza in free agency is risky. Warren made a solid, conservative financial decision and is now guaranteed rich for life. That has to be a reassuring feeling.

Well said. This was a win for all involved. Ty wanted to guarantee a place with a winning organization. In doing so, he guaranteed that he'd be a major contributor to the winning organization and has a home for his family for the remainder of his career. Sometimes there are things that take priority, and Ty obviously felt that the amount of the contract and the stability it provided matched his priorities. He certainly won't have to worry about feeding his family . . .

 

[ctpatsfan77]

Well said. This was a win for all involved. Ty wanted to guarantee a place with a winning organization. In doing so, he guaranteed that he'd be a major contributor to the winning organization and has a home for his family for the remainder of his career. Sometimes there are things that take priority, and Ty obviously felt that the amount of the contract and the stability it provided matched his priorities. He certainly won't have to worry about feeding his family . . .

Getting large sums of money, alas, is not a guarantee of financial security (see Vick, Michael; Tyson, Mike).

That said, I suspect that most Patriots are getting sound advice on keeping their financial houses in order. [e.g., Heath Evans, who has an outstanding plan to bring the Dunkin to Alabama. ]

 

[psychoPat]

Miguel reported this two days ago in this thread (where there is continued discussion on this)...

http://www.patsfans.com/new-england-patriots/messageboard/showthread.php?t=58740

...that it actually was a 5-year extension rather than the 3-year extension originally reported. But I had to go to, egads, KFFL to learn about it! Please people, don't post MAJOR news on page 7 of an old thread! This is a huge development!

....

Makes for an enjoyable reading experience to see
how many posters now adhere to good thread discipline!

So THAT is why what i thought was a stale, old thread
... was bouncing forward so much.

But thanks, Isaac, for this important pointer
for those of us who've learned yet another lesson.

 

[mgteich]

Before the signing, Warren had little security, other than what he has saved from the last couple of years of his rookie contract. $18M guaranteed two years BEFORE the end of his contract is huge for him. I do think that all of this isn't guaranteed. If he is injured, I think that he gets much less. Perhaps only $7M plus this year's salary. But even that is $7M more than he would have had. One needs to hope that the Kraft's have provided financial counseling help for him, and others. Even $7M should provide for him and his family for life.

Just because it's a good deal for the Patriots doesn't mean it's not a good deal for the player, too. Warren opted for a bird in the hand -- a huge signing bonus two years before he was due to hit free agency. Yes, he has limited the potential upside of his future earnings, but he's also raised the floor by millions and millions of dollars. Turning down that kind of cash in hopes of a future bonanza in free agency is risky. Warren made a solid, conservative financial decision and is now guaranteed rich for life. That has to be a reassuring feeling.