Eric Kendrick’s Signs Extension 5Yr/$50M

[swede700]

13 hours ago, Krauser said:

I like Kendricks but he's been more of of a pretty good player than a great one. He missed too many tackles last year. He's good in coverage but doesn't make a lot of plays on the ball. He's not a great run stopper in short yardage situations, can get driven back by stronger RBs. 

His position also seems the easiest to replace. The fact that he started as a rookie 2nd round pick and was pretty good from day one is part of that. None of the other major contributors on the Vikings defense last year (roughly in order: Griffen, Smith, Rhodes, Joseph, Barr, Hunter, Waynes) were acquired for so cheap and still contributed so early.

Lots of off-ball LBs contribute even as rookies, including some drafted outside the 1st round -- by PFF, rookies who were graded about as well as Kendricks did for the Vikings last year: 

• 2017: Foster (30th pick), Cunningham (57), Milano (163), Davis (21)
• 2016: Jatavis Brown (175), Cravens (53), Deion Jones (52), Martinez (131), Kwiatkoski (113)
• 2015: Perryman (48), McKinney (43), Shaq Thompson (25), Jordan Hicks (84), Heeney (140), Kendricks (45)

There's a few late 1sts in that list but mostly day 2 picks with a few day 3 picks included. Point is just that if they needed to replace what Kendricks did last year in 2019, because he was moving on, they could've waited to draft someone next year. 

It seems Kendricks' contract will be similar to Anthony Hitchens (former Cowboys LB) FA deal with the Chiefs. He got $45M/5, but that's for 2018-22, while Kendricks' extension will run from 2019-23, and is effectively a 6 year deal for $51.6M including the last year of his rookie contract, which will be supplemented now with his signing bonus. 

Overall, I'm not unhappy to retain a good player, but I think Barr, Diggs and especially Hunter are more valuable to the long-term success of the team. 

One thing I'll say about Kendricks is I can never fault his effort and enthusiasm. I hope he stays healthy and earns the entire contract. 

 

I can understand why people feel like he's the most "replaceable", but I put more emphasis on your last sentence as to why he's one of the most irreplaceable.  While he'll likely never be confused with Brian Urlacher, his energy and his almost Polamalu-like ability to fly from one side of the field to the other gives a boost to the defense that Barr never will. Barr, for me, while he has a skill-set that is difficult to replace, is not irreplaceable in what he gives to the defense from a personality standpoint.  He's not a leader of the defense, in my opinion...while I think Kendricks is (next to Griffen and Harry).  Leadership and "heart" can add a lot more to a defense than just a great skill-set.    

[vike daddy]

that's a lot of cash. but i guess the execs know how full the coffers are.

[CriminalMind]

Hunter, to me, is easily the best young player we have. (who is not extended etc)

Not having a plan to retain him would be a massive mistake.

No chance I would advocate for picking up that Waynes 5th year option at $9M, while Hunter's extension is not complete

 

 

[Klomp]

The question of who deserves to be extended more than someone else is a tough one for me to answer.

To me though, having someone else locked in longterm at the same position group probably makes it a little easier to let that person go.

WR: Thielen extended through 2020
DE: Griffen extended through 2022
CB: Rhodes extended through 2022
LB: Kendricks extended through 2023

If it was me, the above is the order I would approach the extensions. Get Diggs and Hunter done first.

[Krauser]

47 minutes ago, CriminalMind said:

No chance I would advocate for picking up that Waynes 5th year option at $9M, while Hunter's extension is not complete

The 2 decisions have nothing to do with each other.

Worst case scenario -- Waynes contract is taking up cap space they need for Hunter in 2019, Waynes could easily be traded for roughly what they'd get as a comp pick from letting him go after 2018. 

[CriminalMind]

4 minutes ago, Krauser said:

The 2 decisions have nothing to do with each other.

Worst case scenario -- Waynes contract is taking up cap space they need for Hunter in 2019, Waynes could easily be traded for roughly what they'd get as a comp pick from letting him go after 2018. 

I disagree

[Klomp]

Barr "likely next," per Rapaport

[SemperFeist]

4 minutes ago, Klomp said:

Barr "likely next," per Rapaport

It makes the most sense, as it’s likely to have the least impact on current cap space. 

[vikesfan89]

When do the 5th year options have to pick picked up? I can't see them not picking up Wayne's

[SemperFeist]

10 minutes ago, vikesfan89 said:

When do the 5th year options have to pick picked up? I can't see them not picking up Wayne's

The deadline, I believe, is the first weekend in May. 

Edit: May 3rd

[vikingsrule]

30 minutes ago, SemperFeist said:

It makes the most sense, as it’s likely to have the least impact on current cap space. 

Do the Vikes even have enough cap space to do a non Barr extension this year?

i agree with you on getting his contract done. But the DL could be in trouble next year with Hunter and Richardson facing free agency.

[SemperFeist]

10 minutes ago, vikingsrule said:

Do the Vikes even have enough cap space to do a non Barr extension this year?

i agree with you on getting his contract done. But the DL could be in trouble next year with Hunter and Richardson facing free agency.

Sure they do. It all depends on the structure of the contract. Any type of extension is likely to only see a modest increase to the cap during the first year. 

[Krauser]

Extensions done a year early on a guaranteed contract, like Kendricks, are easy to fit under the cap this year. The only immediate cap increase is the prorated signing bonus. Kendricks got $10.5M to sign, so that'll be ~$2.1M added to the cap for 2018. The extension itself starts the year after the current contract, meaning aside from the signing bonus proration this year, it has no other effect on the cap until 2019. 

Kendricks' numbers aren't up yet but you can see the same pattern on Kyle Rudolph's page here: https://overthecap.com/player/kyle-rudolph/1789 . Scroll down to "salary cap history" and notice how the prorated number for 2014 (last year of his rookie deal) increases by $1.3M from 2013, which amount is then prorated across the next 4 years, the first 4 of his 5 year extension. 

Hunter and Diggs' extensions, if they get worked out, would look like this, and so would Easton's if they sign him to an extension following the 1-year tender he just signed. Each of them would cost 1/5 of their signing bonuses toward this year's cap. Even a huge signing bonus ($20-25M) would be only $4-5M on the cap in 2018. Not that that's likely -- the Vikings could instead structure the deal with guaranteed money in the form of roster bonuses or salary in future years that won't affect the cap until those years (but wouldn't be prorated when they do). 

Barr's 5th year option isn't guaranteed except for injury. If I understand correctly, most players signing extensions heading into a 5th option year (examples: Bortles, Evans from the 2014 class) will rip up that 5th year and replace it with the first year of a new deal. The Vikings would have a lot of flexibility in designing that, so they could give Barr a raise this year (more money up front) but in the form of a signing bonus that would be prorated over 5 years, effectively lowering his cap number in 2018. 

Long story short: Kendricks extension costs an extra $2.1M against the cap this year, Diggs and Hunter probably more like $3M each, Easton maybe $2M or so. Would take maybe $10M to extend them all, including Kendricks. Meanwhile Barr's deal could easily lower his cap number to something like $6-8M even while giving him more money up front. Could do all that and still have ~$10M in space remaining heading into the draft.

[vike daddy]

1 hour ago, Krauser said:

Kendricks' numbers aren't up yet

i thought they were:

 

The new five-year contract given to Vikings linebacker Eric Kendricks pays out, on average, $10 million per year. In the first year, however, Kendricks will get a lot more than that.

Per a source with knowledge of the situation, Kendricks will receive $15 million in the first year of the new deal. Through the second year, the total payout will be $22.5 million. He gets $31.5 million over three, $40.5 million over four, and the full $50 million over five.

Of that amount, $25 million is guaranteed. It’s still unclear how much is fully guaranteed at signing, but a source says the signing bonus is $10.5 million.

http://profootballtalk.nbcsports.com/2018/04/16/eric-kendricks-gets-15-million-in-year-one/

[Krauser]

That gives the outline of the deal, but it could look a little different depending on roster bonuses etc. 

Implication of the report from PFT is roughly: 

$10.5M paid now, plus $4.5M at the beginning of year one. Additional money $7M year two, $9M years 3 and 4, $9.5M year 5. 

2018 (year 4 rookie deal, -1 of extension): existing $1.6M rookie cap hit + $2.1M prorated signing bonus = $3.7M

2019 (year 1 extension): $4.5M + $2.1M = $6.6M

2020 (etc): $7.5M + $2.1M = $9.6M

2021 and 2022: $9M + $2.1M = $11.1M (for each year)

2023: $9.5M (bonus already fully accounted for): $9.5M cap hit

Dead cap hit to release / trade would be $6.3M heading into 2020, $4.2M in 2021, $2.1M 2022, and 0 in 2023.