As I walked the streets of Canton Ohio talking football with the NFL greats this past weekend, the issue of what rookie draft picks are signing for was a hot topic.
Michael Irvin, Thurman Thomas, and Bruce Matthews are all young enough to have been big-money earners during their careers. All of them played multiple years in the CBA era. Roger Wehrli, Charlie Sanders and Gene Hickerson were all retired well before the big money started to pour in for the players and they can only sit back, reflect on their great memories playing the best game in the world and hope that their retirement benefits help them live out their lives in dignity. Financially, the later three don't really have a lot in common with the first three headed to the Hall of Fame when it comes to money earned, but they all have one thing in common beyond great football careers: Amazement at the numbers the young draft picks are signing for in 2007.
I was amazed that a few Cleveland Browns veterans were unaware that young Joe Thomas, their first-round pick, signed a contract that has more money in it than any other offensive lineman in the history of the NFL. One smart player did say, "I must tell you that until the veterans finally realize that rookies are hitting big pay days at the expense of veteran players it will not stop."
Here's a quick look at the guaranteed money being handed to unproven players so far this summer. Now that Calvin Johnson's deal has been done, it's fairly easy to project what the remaining players in the top 12 picks will get in secured money.
When I told one former GM how the guaranteed money was being handed out he just shook his head and said a few things strike me as wrong about it.
- Five years from now, three or four of those guys will be out of the league either because of injury or they're a bust.
- In a few years, there are going to be some real salary cap problems around the league just like we had back in the late 90s.
- It may be time to stop the insanity and get most of that money in the hands of good veteran players.
- It's incredible that scouts who work 300 days a year -- most of them on the road -- can't get a lousy $5,000 raise.
Finally, a few older retired players with 10 or more years in the NFL sat down with me in a Canton hotel and had a different view of the money. They were really happy for the young men who hit the big pay day. As one guy said, "Get it while you can."
Another said, "I don't worry about the money, but I can't believe those kids will meet expectations that go along with the cash or that all of the top 12 can stay hungry enough to be great players."
Charles Walker, who played 12 years as a defensive lineman and made it to the Pro Bowl himself, spent 30 years after his playing days working in the investment fied and all he said was, "I sure hope these young guys get some great advice and solid planning for all that money."
I don't think he really believed me when I told him how much guaranteed money was in those rookie deals.
