As you have probably heard, QB Tony Romo signed a controversial contract extension with the Cowboys yesterday. The deal is a seven-year, $119.5 million commitment. The deal contains $55 million guaranteed, including a $25 million signing bonus and Romo’s first-year base salary. The breakdown:
2013: $1.5 million
2014: $13.5 million
2015: $17 million
2016: $8.5 million
2017: $14 million
2018: $19.5 million
2019: $20.5 million
2020: Free Agent
Many experts are calling it one of the worst contracts in NFL history….
Tony Romo 6 yr 55 million dollar extension. Wow really, with one playoff win. You got to be kidding me—
Donovan McNabb (@donovanjmcnabb) March 29, 2013
Cowboys owner Jerry Jones, who holds the purse strings here, seems to have the only opinion that counts, however. He is not the business of losing money. He is banking that the best is still to come from Romo:
“This is a significant day in terms of securing stability for our team for the future,” Jones said yesterday. “Tony is uniquely qualified to lead this team at the quarterback position for the next several years. He has an abundance of experience and familiarity with our offensive philosophy, our head coach and the personnel around him. He is moving into a period of time where he can maximize all of his natural skills while continuing to build upon the talents that he has developed since entering the NFL.”
Romo, by virtue of his celebrity and his status, has his fans and his critics. When it comes to evaluating his career, the debate usually gets unpleasant. His career passer rating 95.6 is the fifth-highest in league history. But as his detractors will be quick to point out, Romo has just one playoff win in his eight years under center in Dallas.
Many Giant fans are pleased with the deal. Romo has frustrated the Giants at times (6-8 lifetime with 27 TDs and 16 INTs) but in games that had playoff implications, the Giants have bested him. The fact that he will be at the helm of the Dallas offense for the foreseeable future could lead to more of the same.
How does this signing effect the Giants and QB Eli Manning? Not much….
On Aug 13, 2009: Eli signed a seven-year, $106.9 million contract extension, then the richest deal for a QB in NFL history.
The deal contained $35 million guaranteed, including a $13 million signing bonus, a second-year option bonus of $12.5 million, and all but $1 million of Manning’s 2009-2011 base salaries.
Another $500,000 is available in 2010-2015 via annual workout bonuses.
Last season, Eli reworked his 2012 cap number. His salary was scheduled to be $10.75 million. He agreed to have $9 million guaranteed, reducing his salary to $1.75 million. The move saved the Giants nearly $7 million in cap space last year, but Eli’s cap number will balloon over the remainder of the contract:
2013: $13 million (20.85 mil cap effect.)
2014: $15.15 million (20.4 mil)
2015: $17 million (19.75)
2016: Free Agent
The rework also changed to the guaranteed portion from $35 million to $44 million.
The Romo and Manning deals are fairly equitable, the difference being the guaranteed money – which is everything in football these days. The Giants will probably rework or extend Manning’s deal before it gets close to expiring. They will probably have to do something with him if they have any designs on keeping both star WRs (Hakeem Nicks and Victor Cruz) next offseason and DE Jason Pierre-Paul after 2014.