Monday Money Matters

As stated in this space often, the Packers have been bullish on Aaron Rodgers for a quite a while.  This weekend’s dramatic extension of his contract, an extension worth close to 64M over the next six and one-half seasons with an even 20M guaranteed, is proof positive of that built-up confidence.

This extension was not about the only seven games that he started prior to signing it, games in which Aaron proved his readiness to be a top caliber quarterback and play through pain and injury to his shoulder.  The Packers have been convinced about Aaron for the past three years.  During those years in Green Bay, perhaps the most asked question I received was “Is Aaron Rodgers really going to be a solid heir to Brett Favre?”  The answer from all of us was always a resounding, “Yes, he is.”  As I have stated before, he has a big arm, uncanny intelligence, natural leadership skills and an ability to not take things too seriously, which has served him well this year.  He reminds me a lot of a former client and another former Favre backup, Matt Hasselbeck (a player that should be considered for MVP this year in light of how the Seahawks are doing without him).

Aaron prepared himself to be the starter for the Packers since 2006.  Aaron endeared himself to his teammates and the front office with his meticulous preparation during the long winters of Green Bay.

Now he has been paid, and paid well.  The Tony Romo and David Garrard deals were obvious guides to his compensation.  A more important reference may have been future deals for players such as Eli Manning and Philip Rivers, deals that will be much bigger than this.  The Packers knew that whatever they paid now, unless there was a dramatic injury to come, they would be paying a lot more later.  With the scarcity of quality quarterbacks to even come close to hitting the market, even waiting until the end of this season and Aaron having a full year left on his contract would have cost the Packers millions in total and guarantees.

Should Aaron have received this deal this early into his playing career?  The same question could have been asked about the following quarterbacks before him: Rob Johnson with the Bills, Matt Schaub with the Texans, Tony Romo and David Garrard.  The feeling from the teams was the same throughout – this is our guy and the market will only go up. 

The trend of deals being done earlier and earlier into a player’s career is a trend in all sports now.  In baseball, the Rays extended Evan Longoria a week into his major league career!  Though not as early, similar proactivity was exercised by the Rockies and Brewers, respectively, for Troy Tulewitski and Ryan Braun.  And news this week that the Lakers have extended Andrew Bynum, their young center that hardly played last year, for the tune of 58M over four years!  Again, the theme for all these teams was and is the same:  it will only cost us more to wait.

Congrats to Aaron, a good friend over the last three years.  My sense is he will be worth this deal and more….

On the bittersweet side of the ledger in Green Bay, the Packers cut another friend and neighbor of mine, Kabeer Gbaja-Biamila.  Kabeer is one of if not the most engaging football players one could ever meet.  As a neighbor, most football players don’t want to be bothered by neighbors and talk around the neighborhood. Kabeer sought neighbors out and talked up a storm with them, and everyone else.  He is a good man, a great husband and father, and a true fixture in the Green Bay community, where he will always live.

Kabeer’s contract, terminated on Saturday, was negotiated in 2003 in response to an aggressive courtship by the Philadelphia Eagles, who were convinced Kabeer could make the impact in their defense they were looking for (after not signing Kabeer, the Eagles signed Jevon Kearse to a free agent contract in the first hour of free agency in 2004).  The deal given Kabeer was a market deal for a top-level defensive end, although Kabeer did not prove to be as effective in an all-downs role as opposed to his specialty of situationally pass-rushing.  He leaves the Packers as the all-time leading sacker, ahead of a player named Reggie White.  The locker room and the community will miss Kabeer, although depending on whether he is picked up or not – which I think he will be – he may still be around there.

In the event Kabeer is claimed today, the Packers will be off the hook for the rest of his 2008 salary.  That, however, is unlikely; although it is likely Kabeer will sign somewhere soon and then claim his termination pay from the Packers in the spring…

The NFL’s borrowing of 2B can be looked at a couple of different ways. First, it signifies some increasing cash flow needs for operations.  Second, it may be a harbinger of other moves to come in preparation for an uncapped year in 2010 and potentially a lockout in 2011.  There are not a lot of entities that could secure that type of lending in this financial environment.  It is significant that the NFL has been able to do so; it becomes more of an issue as to what purposes the money will be put to…

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