The concept of “new money” in NFL contracts is, without question, a fiction. But it remains a reality when it comes to assessing what a contract is worth.
Usually, “new money” comes up after the deal is done, with agents leaking the “new money” analysis of the contract to reporters who will pass the information along without scrutiny, because the “new money” analysis typically makes the deal look a lot better. In the case of Giants receiver Odell Beckham, Jr., the standard “new money” game apparently has been turned on its head.
As mentioned by Josh Alper on Monday and as also dissected by Ryan Glasspiegel of TheBigLead.com, it seems obvious that, for a change, the agent isn’t looking at the “new money” analysis. Likewise, the team (which usually never tries to couch the value of the deal in any specific way) seems to be pushing the “new money” concept to the media conglomerate the team partially owns.
The tweets from Josina Anderson of ESPN.com (most specifically this one) make it clear that Beckham’s camp is focusing the value of the deal at signing, which truth be told is the most accurate way to value a contract. When a player gets an extension, it’s not a new contract that gets stapled to the back of the existing one. The old contract gets torn up, any remaining money on that deal gets absorbed into the new one, and a brand new contract is signed.
So if, as the media outlet partially owned by the Giants claims, the team already has offered to make Beckham the highest paid receiver — let’s go with $17.1 million per year, which would put…