I like Cooks a lot. That being said I am not over paying for him. His market well may be 14-16M+ a year but I don't think he is worth that. No WR is. I wouldn't take Julio Jones or Antonio Brown for 16M a year.
I think WRs compared to their value get paid about 20-25% too much on average.
What I would be willing to pay Cook in 12M a year maximum. He'll get more than that if he wants it and why wouldn't he want to be paid that much? I hope he stays here but I have no delusions about what he actually brings to the team and the price he would cost. Give me 3 Hogan's and 1 Edelman contact along with a cheap vet Amendola contract and I am happy with my 25M dollar WR core.
Well, market price = flexibility of demand + perceived scarcity. Has nothing whatsoever to do with any objective "value" proposition. There are a lot of goods and service that I need (inflexible demand) that I think are overpriced, but there's nothing much I can do about it. It is what it is.
With 3+ years of consistently elite (or near elite) production already at his young age, demand for Cooks' services is almost certain to be high enough to generate offers in the $15M+ APY range, if he becomes a UFA at the end of 2018 . That's simply the reality, whether we think it's "right" or not.
The other reality is that Hogan turns 30 next October, Edelman turns 32 in May, and Amendola turns 33 next November. Guys like these (and Welker and Moss) make it
seem like the Pats
always come up with WRs who way out-produce their relative pay grade, but the reality is that the Pats have also had way more misses than hits. We may be happy with having these guys "on the cheap", but that simply isn't going to last much longer. And, behind Hogan, Edeman and Amendola, for 2018 the Pats currently have only Mitchell, Dorsett and Cooks.
At the moment, $15M seems like a lot, but, if the cap continues to rise at its recent rate, by Year-4 of a 5-year contract, that "extravagance" may seem like a relative bargain (assuming Cooks maintains his current productivity level).
I'm guessing that a Pats' extension offer next season might max out at ~ $12.5M plus a lot of incentives. After that, it's up to Cooks.