Talk about trying to save face after giving up a 1 for Deion.
From the Globe.
Former Patriots receiver Deion Branch totaled 53 catches and four touchdowns in his first season with the Seahawks, but Seattle coach Mike Holmgren still believes he was worth the first-round pick (24th overall) and big salary the team surrendered to acquire him.
"If I got to 24th and I knew I could take Deion Branch, I'd take him," Holmgren said. "It worked out well for Seattle. He'll be a good player for the Seahawks for a long time."
I know DB is and will be a good receiver for the rest of his career, but let's compair him to our first round pick in 2 years. Holmgren is trying to justify this move now that his team has no 1st round pick. Damage control at it's best.
I'm sure Holmgren like to be able to draft Deion branch with the 24th pick in this years draft. He would have to pay DB $9M for five years of service.
Unfortunately for Holmgren, he will not have the opportunity to draft DB. Instead he will pay $39M for six years of service. This is a FAR worse deal than drafting a player of DB's caliber.
The value of draft picks is that they play for less money than they could get in free agency. Seattle paid DB fair market value for his services (and then some). They could have spent this same amount of money on the FA market and gotten similar talent. Seattle gave up their #1 pick for the advantage of acquiring DB immediately and not having to wait for next year.
In all likelihood, five years from now:
Seattle will have received six years of Deion Branch at a cap cost of $39M
New England will have received five years of service from the #24 pick at a cap cost of under $9M.
Given the Patriots recent draft history, there is an excellent chance that five years of service from the #24 will be more valuable than six years of service from DB.
On top of that, the Patriots will have $30M of extra cap space to spend on free agents. 5 years of Adalius Thomas only cost us $35M.
Talent wise, it was an extraordinarily good deal for us, and a terrible deal for Seattle. Holmgren most certainly knows it.
Timing-wise, it didn't work out great for either team..