When negotiating new deals with players, teams and agents often reference contracts signed by comparable players. It makes the process relatively straightforward; the sides either agree on the caliber of a player compared to his peers and then iron out the contract details, or they have vastly different values that prevent negotiations from proceeding.
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So when a contract is signed, it stands to reason that the team would expect the player to perform at the same level as players earning similar compensation.
The Giants made three big-ticket signings this offseason: defensive lineman Leonard Williams signed a three-year, $63 million extension, wide receiver Kenny Golladay got a four-year, $72 million contract and cornerback Adoree’ Jackson received a three-year, $39 million deal. They also signed safety Logan Ryan to a three-year, $30 million extension in December.
To help set expectations, here’s a breakdown of the players with similar average annual values at the positions of the Giants’ signings, leading off with Williams:
| Player | AAV |
|---|---|
$22.5M | |
$21M | |
$21M | |
$20M |
Williams wanted to be paid like a top defensive end, which explains why it took so long for the sides to reach an agreement on an extension. Williams eventually settled for being the second-highest-paid defensive tackle in the league behind Donald while securing a player-friendly deal ($45 million guaranteed, which is more than Buckner and Jones got on four-year contracts and a shorter-term deal that enables him to hit the market again at 29).
Here’s a breakdown of the average production of Williams and his financial peers over the past three seasons (pressures via Pro Football Focus):
| Player | Sacks | Pressures | Tackles |
|---|---|---|---|
15.5 | 94.7 | 50.7 | |
5.7 | 54.3 | 48.3 | |
9.7 | 58.7 | 62.3 | |
10.7 | 71 | 37.3 |
Williams’ contract will represent fair value if he continues to produce like he did in his breakout 2020 season. He had a career-high 11.5 sacks last season, which ranked seventh in the league and second to only Donald among defensive tackles.
But Williams’ prior sack production was underwhelming. He had 17.5 sacks in his first five seasons combined. Donald is on another planet with an NFL-high 46.5 sacks over the past three seasons. But Williams should be expected to provide similar sack production to Buckner and Jones.
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Aside from sacks, Williams’ production proves that he belongs in the company of the highest-paid defensive tackles. Time will tell if 2020 was an aberration or if Williams has finally unlocked an ability to turn pressures into sacks the way Jones and Buckner have consistently. The Giants are clearly banking on the latter based on their investment.
Here’s a breakdown of the wide receivers with similar average annual values to Golladay:
| Player | AAV |
|---|---|
$18M | |
$18M | |
$18M | |
$17.9M |
Golladay reportedly turned down an offer from the Lions worth $18 to $19 million last offseason. That gamble appeared to backfire after Golladay was limited to five games last season by hamstring and hip injuries. It looked even worse when Golladay’s market was slow to develop in free agency and no other receivers signed for more than $12.5 million annually.
But Golladay’s patience was rewarded by the Giants, who signed the 27-year-old to the contract he was seeking (he can make up to $19 million per year through incentives) after hosting him on an extensive visit. Golladay’s average salary ranks sixth among receivers.
Here’s a breakdown of the average production of Golladay and his financial peers over the past three seasons:
| Player | Catches | Yards | TDs |
|---|---|---|---|
51.7 | 863.7 | 6 | |
77.3 | 1,205 | 11.3 | |
58 | 802 | 4.3 | |
85 | 1,050.3 | 5.7 |
Obviously, Golladay’s averages are affected by last season’s injury. The same applies to Beckham, who has battled injuries since the Giants signed him to a five-year, $90 million contract (and then traded him to Cleveland).
The Giants are counting on Golladay to return to his 2018 and 2019 form, when he averaged 67.5 catches, 1,126.5 yards and eight touchdowns.
The Chiefs got a relative bargain with Hill, who signed an extension a year before free agency on the heels of child abuse allegations. Robinson’s production is a reasonable parallel for Golladay. Golladay likely won’t be as much of a volume receiver, but his big-play ability should produce comparable yards and touchdowns. Golladay has proven that he can produce at that level, so the Giants just need to hope his 2020 injury woes aren’t a sign of things to come.
Here’s a breakdown of the cornerbacks with similar average annual values to Jackson:
| Player | AAV |
|---|---|
$13.5M | |
$13.3M | |
$13M | |
$13M |
It’s no wonder that Gilmore is reportedly seeking a new contract. The 2019 Defensive Player of the Year is tied with Adoree’ Jackson as the 12th-highest-paid cornerback in the league.
William Jackson and Griffin signed their three-year deals this offseason. Clearly the Giants value Adoree’ Jackson more, as they didn’t show any interest in those corners in free agency.
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Adoree’ Jackson was due to make $10.2 million on his fifth-year option with the Titans this season, but the team surprisingly cut the former first-round pick on the second day of free agency. The expectation was that Jackson would struggle to reach that $10 million salary level after getting cut, but the Giants aggressively pursued him with an offer worth $13 million per year.
Here’s a breakdown of the average production of Jackson and his financial peers over the past three seasons:
| Player | Interceptions | Passes Defended | Tackles |
|---|---|---|---|
0.7 | 9 | 41 | |
1.7 | 11 | 63.3 | |
3 | 14.3 | 45 | |
0.7 | 5.3 | 43.3 |
Like Golladay, Adoree’ Jackson’s production has been diminished by injuries. He missed 18 games over the past two seasons due to foot and knee injuries. Jackson averaged one interception, 13.5 passes defended and 71.5 tackles in his first two seasons when he didn’t miss a game.
Adoree’ Jackson’s peers have been more durable, and Gilmore’s ball skills are a clear cut above. Aside from Gilmore, this isn’t a group loaded with proven Pro Bowl-level players. Adoree’ Jackson will be compared to Griffin and William Jackson since they signed similar deals at the same time. The Giants clearly are expecting Adoree’ Jackson, who is just 25, to return to his pre-injury form.
Here’s a breakdown of the safeties with similar average annual values to Ryan:
| Player | AAV |
|---|---|
$10.3M | |
$10M | |
$9.8M | |
$9.6M |
Ryan learned a lesson about being too patient during the 2020 offseason. The veteran defensive back was waiting for a team to meet his $10 million per year asking price. That didn’t happen as COVID-19 caused teams to tighten their budgets, so he eventually settled for a one-year, $6.5 million contract with the Giants.
That experience made Ryan far more amenable to a pre-free agency extension with the Giants. The sides agreed on a three-year, $30 million extension on Christmas Day despite Ryan being just two games shy of reaching free agency.
The contract represents strong value for the 30-year-old Ryan, who transitioned from cornerback to safety last season. He is now the 12th-highest-paid safety in the league.
Here’s a breakdown of the average production of Ryan and his financial peers over the past three seasons:
| Player | Interceptions | Passes Defended | Tackles |
|---|---|---|---|
3.7 | 9 | 86 | |
1.7 | 11.7 | 94.3 | |
2.7 | 4.7 | 110.3 | |
1.3 | 4 | 66.7 |
Ryan’s production measures up well to a group of safeties with varied skill sets. There’s added value in Ryan’s leadership and familiarity with defensive coordinator Patrick Graham’s schemes. The same applies to Ryan’s peers, as Smith, Poyer and Hyde are all veterans who have signed multiple contracts with their teams.
The question with Ryan is if he’ll maintain his level of play into his 30s. But safety is a position where players have enjoyed longevity, which explains why Ryan made the switch from corner last year.
There has been discussion about whether the Giants overpaid this offseason, particularly for Golladay and Jackson. The Giants, obviously, are comfortable with the investments they made. Others can make their own calls on how their signings compare to players with similar contract values.
Soon enough, the answers will come on the field. If the Giants players perform at the level of their financial peers, it will have been money well spent.
(Photo of Leonard Williams: Robin Alam / Icon Sportswire via Getty Images)
