The first day of free agency was a busy one in the NFL.
It was one, which saw the Miami Dolphins shell out a bunch of cash to wide receiver Mike Wallace to get him to bring his talents to South Beach. So, why is this important you may be asking, well it’s important because the Dallas Cowboys will have a certain receiver coming up for a contract extension pretty soon.
That receiver is Dez Bryant, who at the tender age of 24 is coming off of his first 16-game 1,000-yard season. When, and if, Bryant hits the free agent market after the 2014 season he will be 26, just like Wallace is this year.
Given that the Dolphins made Wallace the third-highest paid wide receiver in the league means the Cowboys will almost certainly have to mortgage Cowboys Stadium to keep Bryant under contract. Through four seasons Wallace’s numbers are a little better than Bryant’s, but Bryant is just entering his fourth season as a pro.
Wallace’s contract is a five-year, $60 million deal. However, when dissected it could end up being a two-year, $27 million deal worth up to $30 million. Wallace will get an $11 million signing bonus (fully guaranteed), a base salary in 2013 of $1 million (fully guaranteed) and his 2014 salary of $15 million (fully guaranteed), which adds up to $27 million fully guaranteed.
In 2015, his base salary of $9.85 million is not guaranteed, but $3 million could be guaranteed for injury, and $3 million will become fully guaranteed if Wallace is still on the Dolphins’ roster for the fifth day of the league year. So in two years Wallace will make about $27 million to $30 million assuming he’s not cut before the start of the 2015 season.
Wallace’s cap number in 2014 is an outrageous $17.25 million, which is fine because the Dolphins have a ton of cap space, but, unfortunately, the Cowboys don’t. So, when the time comes to re-sign Bryant it might come down to simply not being able to afford that type of contract.
Say, ”Thanks Jerry Jones.”
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