"Here’s what you call a win-win: Richard Seymour can claim to be the highest-paid defensive lineman in football and the Patriots have enough wriggle room to claim they didn’t set the market, keeping an important internal policy intact."
Bingo
"According to industry sources, the four-year extension the Pats star defensive lineman signed yesterday is worth just over $30 million with a first-year bonus in the neighborhood of $12 million and combined signing and option bonuses totaling around $19 million.
The average annual value of the deal (nearly $8 million) is in the ballpark of the record contract extension signed by defensive end Jevon Kearse with Philadelphia in 2004 ($8.2 million per year). More importantly, Seymour’s total take far surpasses what Kearse received over the first four years of his deal ($25 million)."
But the real beauty of the deal is Richard's $2M 2006 still remains, apart from this deal. Even though he will get a big chunk of cash from the new deal way up front this season, all that does is spread the new money over 5 years rather than the 4 it specifically covers. So regardless of what spin which side chooses, the team quietly comes out the winner because Richard's AAV over the next 5 seasons is actually in the $6.5M or so range.
"Which is more valuable? Kearse got the bigger check on Day 1 and can claim a higher average value. Seymour got the better four-year package, and he didn’t even have to go to free agency to get it (2006 was his walk year).
The debate gives each side the chance to claim victory.
“He’s being paid at the top end, but it’s not setting a new standard,†the industry source said. “It’s not crazy money.â€
In my book the biggest winner is the organization. Their player got his deal now, with a big chuck of change a year early without having to hold out or face tag and trade acrimony - and when all is said and done all it took was a deal that got Belioli their comfort price range locked in for the next 5 years.
And I guess if you are keeping score, as some here do, you could also say that those who said he would get or deserved Kearse money were right on the one hand, while those who said the team would not pay him that were just as right on the other. Shifting a portion of his payout and cap hit on the new deal into this season should provide sub-$7M average cap hits and value for the remainder of the deal.
It's the epitome of a win-win deal. The only bump in the road will come in 2010 when it's decision time for both sides again. The structure will determine whether the deal is prime for extension, decision or disruption. And it's possible they gave him something else, like an agreement not to tag him in 2011. That would be a valuable trade off for a player who wants two post rookie bites at the contract apple and who believes he will still be young for the second bite to be substantial.
FYI the article originally quoted has been removed and replaced with a reworked one:
http://patriots.bostonherald.com/patriots/view.bg?articleid=134838
Not much different in substance although it now refers to the deal as reportedly being worth between $7-8M per year and hints a lot of it may be guaranteed. It also says that Seymour had not been attending the off season program thus far this spring and rehashes some of the contract fueled sayings and doings of last season.
