Stanford quarterback Andrew Luck at the football open house at Stanford Stadium. (Photo credit: Wikipedia)
Sam Bradford received almost $80 million when he signed his rookie deal in 2010, and Cam Newton got about half that last year. With the settlement that averted the cancellation of the 2011-2012 season almost a year old now, the owners are clearly the big winners so far.
All the evidence needed is an examination of the rookie contracts currently being signed. As of June 24, 217 of the 253 players drafted have been signed (85.7 percent). In addition, 18 of the 32 first-round selections have agreed to deals (56.3 percent). The top eight picks, including Andrew Luck, have yet to sign but Luck will reportedly lock in a four-year, $22 million contract soon.
That compares to just five total signings by June 1 during the five-year span from 2006-2010. According to Jed Hughes, vice chair of Korn/Ferry International, this change is clearly the result of the new Collective Bargaining Agreement (CBA).
?In 2009, the Detroit Lions spent $90 million on rookie contracts. That?s three times what they?ll spend this year. There?s no doubt rookie salaries will be significantly lower,? Hughes, recently named one of the nation?s top sports executive consultants by Forbes, said.
?The owners felt rookie salaries were way out of line and needed fixed,? said Hughes, who said the new system is ?fair? as long as ?the veterans will benefit?.
?Despite the salary cap increasing only $600,000 to $120.6 million in 2012, the new CBA allocates more money to veterans? contracts. As an immediate result, veterans will secure a bigger piece of the pie, and deserving players will sign more lucrative contracts,? Hughes explained. ?Although the contracts are not fully guaranteed, as is the case in baseball, it?s a positive development for NFL veterans.?
Hughes added that ?the thinking behind this is that rookies must earn their stripes to get paid well, while more money in the salary cap will be allocated to veterans. ?Organizations will thus be compensating proven talent better.?
It remains to be seen, says Hughes, whether the veterans will reap the benefits of this change right away. It could take 2-3 years.
The only team which hasn?t signed a draft pick is the New Orleans Saints, which has obviously had a turbulent offseason.
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