Extensions - Eagles Did it Again

ESPN’s Len Pasquarelli takes a look at the surge in contract extensions in the wake of the new CBA and cites the Eagles as one team that has traditionally done these type of deals (a key part of the team’s success, Len notes) – and have done it again with Shawn Andrews.

 

He’s got the details of the Andrews deal and it is worth quoting at length (below). What is most striking about the deal is that this year will be the biggest cap hit the Eagles will take on the Andrews’ contract. That is simply amazing and a potential steal given the real possibility that Andrews could be a pro bowler for the next ten years. They’ve locked up a cornerstone of their offensive line for what is essentially $4 million a year over the next 7 years. Even now it looks like a bargain and probably a Manhattan for wampum steal three years from now given Andrews’ play and the inflationary spiral of salaries.

 

 

 

“Philadelphia struck again last week in signing third-year guard Shawn Andrews, the team's first-round choice in the 2004 draft, to an extension through the 2015 season. There certainly was no urgency to do so. Even though Andrews voided the final season of his original six-year deal he signed as a rookie, he was still under contract through 2008. But the Eagles, who always seem to have $10 million-$12 million of available cap space, had money to spend, as usual. And despite his past weight problems, the Eagles regard Andrews as a cornerstone for their line in the long-term and a future Pro Bowl performer who eventually might move outside to tackle.

 

As part of the extension, the Eagles rewarded Andrews with a $5 million signing bonus and a $5 million roster bonus, meaning he'll earn $10 million more than the $600,000 in base salary that he was scheduled to bank this season. And the Eagles will carry a salary cap charge for Andrews of $7.779 million.

But consider this: That is the highest salary cap charge for any season of the contract. In 2007, the charge drops to $4.71 million, and then after that, it dips under $4 million until 2013. And the cap charge doesn't rise to over $5 million until the penultimate year of the contract, in 2014. By then, of course, the odds are that the two sides will have reworked the contract. But for a long time, the Eagles will enjoy short salary cap charges for a young player they regard highly.

The Eagles will pay Andrews base salaries of $2 million or less until 2011 and of less than $3 million until the 2013 season.”