Originally Posted by neilster
it involves $20m guaranteed ...and its not the $40m ...really $4m variety like the McNabb - Redskins deal...its real money ....of course it wont be cos he'll get cut next summer and maybe costing 10 mill and 7-8 mill more against the cap
The Jets have made two mistakes.
First, they considered themselves favourites to land Nnamdi Asomugha last year and restructured Bart Scott and Wayne Hunter's contracts to take bigger cap hits this year (thus freeing up space for Nnamdi last year). That didn't happen, so they were always going to be struggling with the cap this year.
The second mistake was even thinking they could land Peyton Manning this year. Even ignoring the cap problem and Sanchez, it would have taken Rex Ryan telling the owners that he needs Peyton Manning to win a Superbowl and admitting that he doesn't think he has the right QB in Sanchez. That would of course lead to the inevitable - Johnson and Tannebaum asking "Why the fúck are you going on national TV guaranteeing the Superbowl then?". (Who knows, maybe this was all a publically orchestrated kick up the backside for Sanchez, i.e. "We're not afraid to pull the plug on you if we think we have to")
I dont think anybody in their right mind thought for a second that Sanchez wouldn't be QB this year. So in reality, the contract comes down to one thing - freeing up cap space. Sanchez isn't getting any extra years guaranteed at the Jets, he isn't getting any huge increase in salary (he is getting an extra $2.75 million but restructuring a contract to help your cap always comes at an additional cost). Cutting Sanchez this year would have cost the Jets $5 million in dead cap space. Thanks to the new contract, cutting Sanchez next year will cost the exact same, give or take a couple of hundred thousand based on performances (you have to think if they're cutting him it will be the latter).
What it also allows is the Jets to offer Sanchez around next summer, and teams will know that they're getting a 4 year deal with only $8 million in guaranteed salary. There would definitely be takers at that. Basically, this contract puts the Jets in a position next summer that is no worse than they are in now, but gives them more options to resolve that situation....all on top of $6.5 million in cap space savings this year.
The contract looks excessive based on what Sanchez could potentially earn if he (a) meets all the escalators and (b) stays for 5 years. But you can bet your ass those Jets fans will be delighted if that happens, because if Sanchez is still there in 5 years that means he's developed into a damn good QB. It's a very good restructure by the Jets.