Cam Newton has cashed in. That much is certain. The former Heisman Trophy winner and 2011 first overall pick just signed a five-year, $103.8 million contract extension with the Carolina Panthers, a blockbuster deal that will see Newton average $20,760,000 per year over the course of the pact.
Much has been written about the terms of the deal itself, but a larger issue at hand here is what the contract means in regards to the overall market value of elite quarterbacks, in both perception and reality. The fact is, quarterback in the NFL is arguably the most important position in professional sports and they will continue to be compensated as such. What all of the recent mega deals illustrate is that the general scarcity of quality options at the position necessitates franchises that already have solid signal callers to dole out exorbitant sums of money to remain competitive.
All of this is really just an overly wordy way of stating an old but true cliche; if you don’t have a franchise quarterback, you’re looking for one. A player like Newton who has shown flashes of brilliance over the course of his four-year career is paid for past production, youth (only 26 years old), and long-term potential and upside. Is Cam Newton currently an elite quarterback? That’s largely dependent on what one’s definition of elite is, but the most common answer would be, at the present time, no. That said, his immense talent level and versatility could very easily enable him to be elite in short order. The Panthers paid for all that Cam is and all that he can be into the future, and while the cost was substantial it’s hard to argue with that logic altogether.
The debate about Newton’s contract and status as an elite quarterback brings up several more relevant points, as it relates to quarterback compensation however, namely how to define what constitutes an elite quarterback. In 2015, 19 quarterbacks will make more than ten million dollars. It goes without saying that that’s more than any other position in the league. What doesn’t go without saying is that the lowest-paid of those 19 quarterbacks will be none other than………..
Tom Brady.
That’s right, the reigning Super Bowl XLIX MVP is the 19th highest paid player at his position, and it’s not because of any potential looming suspension. Brady’s contract averages $11,400,000 a year thanks to an extremely team-friendly deal he signed in February of 2013. People will look at this fact and wonder how so many quarterbacks can be making more money than this all-time great, but the fact is Brady is playing under a well-below market value contract. He’s been making NFL money for fifteen years now, supplemented by countless endorsements and they aren’t hurting for money in any way shape or form at the Brady household. He can afford to take less money to watch his team remain competitive and still be rolling in cash.
Not every NFL signal caller has the bank account of Brady, and so very few players are inclined to take less than what they’re worth. With that said, now seems like as relevant a time as any to take a glimpse at the current landscape of NFL quarterbacks, and some of the interesting facts about their contracts.
If you asked one hundred football fans who the best quarterback in the league is right now, it’s likely that most of them would say Aaron Rodgers. The reigning 2014 NFL MVP is coming off a brilliant season right in the prime of an even more brilliant career. Thus, it’s no surprise that Rodgers is currently the highest paid player (yearly average) in the NFL. With a contract averaging $22,000,000 annually, State Farm’s favorite spokesperson’s contract still remains tops in the league despite having been signed over two years ago. It’s hard to argue with any of this when Rodgers plays at the level fans have grown accustomed to seeing.
After Rodgers, rounding out the top-five highest compensated passers in the league are Ben Roethlisberger ($21,850,000), Newton ($20,760,000), Matt Ryan ($20,750,000), and Joe Flacco ($20,100,000). This is an interesting list because the consensus on most of these players is that there is no consensus. While it’s hard to argue with Roethlisberger’s recently-signed extension in light of his two Super Bowls, solid stats, and career year in 2014, opinions on Newton, Ryan, and Flacco remain mixed. Flacco is the lone Super Bowl winner of the trio and has a 10-5 record in the post-season, but has often been part of a run-based offense, and has never eclipsed 4,000 yards passing in his seven-year career. Newton and Ryan have both posted more impressive regular season numbers and have been asked to do more to help their respective franchises than Flacco has, but the two NFC South stars have only one playoff win each.
So who is most worthy of the money? The playoff dynamo, Flacco? The prototypical passer, Ryan? The dual-threat highlight reel, Newton? This question can’t be answered. Perception is reality and value is largely determined by an individual’s opinion.
The fact is, all of these contracts were signed within the last couple of years, and as is the case with any position in sports, the annual going rate for a top fifteen NFL quarterback is steadily increasing. Since January 2014, Jay Cutler ($18,100,000), Colin Kaepernick ($19,000,000), Andy Dalton ($16,000,000), Alex Smith ($17,000,000), Roethlisberger, Ryan Tannehill ($19,250,000), and Newton (in this order) have signed new contracts, clearly illustrating the investment it requires to retain a quality signal caller in today’s NFL. All seven of these men have had varying degrees of success in the NFL, and while there are clearly some players on this list who have accomplished more than others, they all received big-money deals. While these annual averages don’t speak to the fact that each contract contains a different amount of fully-guaranteed money, as well as some stringent conditions, it is apparent that their respective franchises have seen fit to compensate them among the game’s elite.
To that point, everyone has a different opinion as to which quarterbacks are elite, and what the measuring stick is for true greatness. Some people view the aforementioned Brady as the best quarterback in the league due to his four Super Bowl rings. While Tom Terrific’s greatness is inarguable, many people will posit that defining a quarterback solely by championships is irresponsible. Others are more focused on statistics, and view yardage and touchdown totals as more accurate representations of greatness.
The truth is likely somewhere in the middle, and placing all of the credit for successes and blame for failures on the quarterback is wholly irresponsible. Dan Marino never won a Super Bowl, but he’s without question one of the all-time greats at the position. Is the fact that he never won a ring exclusively his fault? Of course not, just as Brady’s four rings aren’t exclusively attributable to his own play.
There simply isn’t a more hotly debated and over-analyzed topic in professional sports than NFL quarterbacks. They represent the ultimate poster-boys – the faces of their respective franchises. They are frequently staples among the list of best-selling NFL jerseys, and the beneficiaries of the most endorsement money. In a league that is currently experiencing a dearth of quality quarterback play, the solid to elite signal callers will continue to command enormous salaries, regardless of their overall public perception in the position’s hierarchy.
Cam Newton has been a productive player for four years, has led his team two consecutive NFC South titles, and has near-limitless upside. Time will tell if he reaches that potential, and plays to the level of this deal but in the eyes of the Carolina Panthers, he will. Their perception of their star quarterback is that he is worthy of a payday like this, and that is why they made this investment. Not everyone will share this opinion, but this is the reality of the quarterback situation in today’s NFL.
*Salaries courtesy of OvertheCap.com.*
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