Scott AllenMay 06, 2024

Taylor Pendrith wins the THE CJ CUP Byron Nelson. Pendrith earns $1.7 million million bringing his 2024 on-course earnings to $2.26 and his career on-course earnings to $6.75 million. 

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Scott AllenMay 05, 2024

Brooks Koepka wins the seventh LIV Golf event of 2024 at Singapore earning himself $4 million. Koepka's career LIV Golf earnings (individual + team) is now at $35.7 million.

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Michael GinnittiMay 03, 2024

With the bulk of free agency & the draft now in the books, many NFL teams are turning their attention back to their current rosters.

Spotrac has identified 10 players (5 Quarterbacks, 5 Wide Receivers) who are trending toward a major contract extension in the coming weeks & months.

QUARTERBACKS

Top Metrics
Average Salary: $55M (Burrow)
Total Guarantee: $219M (Burrow)*
Guarantee at Sign: $146.5M (Burrow)*
3-Year Cash: $156M (Jackson)

*excluding Deshaun Watson

Dak Prescott, 30, Cowboys

Dak is entering the final year of his 4 year contract in Dallas, set to earn $34M for the upcoming season. He holds a no-trade clause, a no-tag clause, and the Cowboys are set to take on a $40.46M dead cap hit next March once his contract voids. Furthermore, all 3 QBs currently on the roster are set to become unrestricted free agents after 2024, putting Dallas’ future at the position in complete question right now. Dak Prescott nearing free agency with maximum leverage? Stop me if you’ve heard this story before. 4 years, $225M.
Calculated Value | Current Contract

Jordan Love, 25, Packers

Now officially eligible for an extension (there was a clause restricting him until May 2nd), the Packers are almost certain to lock in their QB1 before the start of training camp. Love is set to earn $11M for the upcoming season as it currently stands. Adding another 4 years, & $200M to that number seems to make a lot of sense.
Calculated Value | Current Contract

Tua Tagovailoa, 26, Dolphins

Tua is entering his 5th season in Miami, set to earn a fully guaranteed $23.17M option salary for the upcoming season. He put together his best season to date last year by a country mile, placing him on a 4 year, $198M extension valuation. It seems highly unlikely that the Dolphins get a signature on anything less than $50M per year however.
Calculated Value | Current Contract

Jared Goff, 29, Lions

Goff completed over 67% of his passess for the 3rd time in the past 4 seasons, and is set to earn $27.3M through the final year of his contract in Detroit. The Lions appear poised to lock in all of their core pieces this offseason, and have already started that process with WR Amon-Ra St. Brown & OL Penei Sewell. Goff doesn’t have the 2-year production to mathematically value into the high-40s or 50s, but a 4 year, $160M extension has to be considered a foundation point for this discussion.
Calculated Value | Current Contract

Trevor Lawrence, 24, Jaguars

Despite inconsistent production through his first 3 NFL seasons, reports state that the Jaguars have already begun serious extension negotiations with Lawrence and his camp. The #1 overall pick is now fully guaranteed $31.3M across the next two seasons, but projects toward a 6 year, $278M extension in our system currently.
Calculated Value | Current Contract

WIDE RECEIVERS

Top Metrics
Average Salary: $32M (Brown)
Total Guarantee: $84M (Brown)
Guarantee at Sign: $52.5M (Hill)
3-Year Cash: $80M (Brown)

Justin Jefferson, 25, Vikings

The modern-day GOAT now knows who the next QB in Minnesota will be. Is a historic extension for JJ next on the Vikings’ to-do list? It’s perfectly plausible that Jefferson and his camp would rather wait for CeeDee Lamb and/or Ja’Marr Chase to lock in their own deals before finalizing his own numbers, but neither of those scenarios seem close to their respective finish lines. Adding 4 years and $140M to his current $19.7M guaranteed salary for 2024 seems like a logical floor here.
Calculated Value | Current Contract

CeeDee Lamb, 25, Cowboys

With A.J. Brown’s extension now on the books ($32M per year, $84M guaranteed), it stands to reason that Justin Jefferson will push the non-QB contract at or over $35M per year, approaching $100M practically guaranteed. The bad news for Jerry Jones & Co? CeeDee Lamb’s production across the board over the past two years is nearly identical to Jefferson - and he’s remained healthier over that span as well. It’s perfectly plausible that Lamb approaches the $35M per year mark in the coming weeks.
Calculated Value | Current Contract

Ja’Marr Chase, 24, Bengals

While much of the focus in Cincinnati has gone to Tee Higgins and his unsigned franchise tag, Chase (the reason Higgins has a tag and not an extension), has now been extension eligible for 4 months. Will the Bengals take a page out of Philly’s book and rush to extend their core weapon this summer, or will they balance out Chase’s value salary ($4.8M) against Higgins’ tag ($21.8M), then look to re-up Ja’Marr next offseason? Waiting is a dangerous game at this position right now. Chase projects toward a 3 year, $90M extension in our system.
Calculated Value | Current Contract

Brandon Aiyuk, 26, 49ers

The trade rumors are (reportedly) dead for now, so we’ll return our focus to what an extension for Aiyuk in San Francisco could resemble. The former #25 overall pick has shared a lot of targets with the likes of Deebo, George, & Christian over the past 4 seasons, but has still managed to average 77 catches, 1200 yards, and 8 TDs annually since 2022. He’s a classic case of a player who is ready to explode with more opportunity, and is certainly seeking a contract that reflects that. On our books, Aiyuk projects toward a 4 year, $106M extension.
Calculated Value | Current Contract

Tee Higgins, 25, Bengals

Higgins has (unsurprisingly) yet to sign his $21.8M franchise tag, and the Bengals haven’t made his camp a multi-year offer in quite some time, so the likelihood of something getting done by the July 15th deadline seems slim for now. He’s a 5 year, $100M player in our system, and Michael Pittman Jr.’s $23.3M per year deal seems a likely “reach” deal at the moment.
Calculated Value | Current Contract

Michael GinnittiMay 02, 2024

With the deadline to decide on 5th-Year Options for 2021 1st round draft picks now passed, we'll dig out a few notable notes from the final results. Of Note: Any 5th-year option that has been exercised here immediately becomes fully guaranteed for the 2025 season. Any player who has had their option declined is now scheduled for unrestricted free agency next March (barring an extension or tag).

Related: NFL Draft Contract Tracker

Without question, the biggest takeaway from this class has to be the lack of success surrounding the QB class. Of the 5 quarterbacks selected in the 2021 1st Round, four have been both traded - and subsequently had their 2025 option salary declined. Only Trevor Lawrence, the #1 overall selection, saw his option exercised, guaranteeing him $25.664M in 2025.

Three players avoided the option decision by agreeing to contract extensions in recent weeks:
- OL Penei Sewell, 4 years, $112M
- WR DeVonta Smith, 3 years, $75M (Philly exercised the option as part of the extension)
- WR Rashod Bateman, 2 years, $12.8M (didn't qualify for an option due to lack of accrued service time)

In total, 18 players had their option exercised (including 2 that were exercised immediately prior to an extension), and 12 players had their option declined. 6 of the Top 10 draft picks were exercised (2 extended, 2 declined).

Odd Fun Fact: This is the 2nd straight offseason that the #2 & #3 overall selections had their 5th-year options declined (Zach Wilson/Trey Lane this year, Chase Young/Jeff Okudah last year).

2021 1st Round 5th-Year Option Decisions

PICK PLAYER TEAM POS OPTION DECISION
1 Trevor Lawrence JAC QB $25,664,000 Exercised
2 Zach Wilson DEN QB $22,408,000 Declined
3 Trey Lance DAL QB $22,408,000 Declined
4 Kyle Pitts ATL TE $10,878,000 Exercised
5 Ja'Marr Chase CIN WR $21,816,000 Exercised
6 Jaylen Waddle MIA WR $15,591,000 Exercised
7 Penei Sewell DET RT $19,040,000 Extended
8 Jaycee Horn CAR CB $12,472,000 Exercised
9 Patrick Surtain II DEN CB $19,802,000 Exercised
10 DeVonta Smith PHI WR $15,591,000 Extended
11 Justin Fields PIT QB $25,664,000 Declined
12 Micah Parsons DAL ILB $21,324,000 Exercised
13 Rashawn Slater LAC LT $19,040,000 Exercised
14 Alijah Vera-Tucker NYJ G $15,313,000 Exercised
15 Mac Jones JAC QB $25,664,000 Declined
16 Zaven Collins ARI LB $13,251,000 Declined
17 Alex Leatherwood   RT   N/A
18 Jaelan Phillips MIA DE $13,251,000 Exercised
19 Jamin Davis WAS LB $14,483,000 Declined
20 Kadarius Toney KC WR $14,435,000 Declined
21 Kwity Paye IND DE $13,387,000 Exercised
22 Caleb Farley TEN CB $12,472,000 Declined
23 Christian Darrisaw MIN T $16,037,000 Exercised
24 Najee Harris PIT RB $6,790,000 Declined
25 Travis Etienne JAC RB $6,143,000 Exercised
26 Greg Newsome CLE CB $13,377,000 Exercised
27 Rashod Bateman BAL WR $14,435,000 Extended
28 Payton Turner NO DE $13,387,000 Declined
29 Eric Stokes GB CB $12,472,000 Declined
30 Greg Rousseau BUF DE $13,387,000 Exercised
31 Odafe Oweh BAL OLB $13,251,000 Exercised
32 Joe Tryon TB OLB $13,251,000 Declined
Taylor VincentMay 01, 2024

A Changing Free Agency

Compared to the 2023 to 2024 offseason where the NWSL’s version of free agency was introduced, there were three big differences that impacted free agency in the 2023-24 offseason. 

First, for unrestricted free agents—think traditional free agency—the required years of service were reduced from six down to five, creating a bigger pool of players. 

Second, the NWSL introduced a new process, restricted free agency, which would apply to players with three or four years of service where said player could negotiate with other teams, but the originating team would have seven days to match the offer. If the originating team doesn’t make an offer to a restricted free agent by New Years Eve, the player becomes an unrestricted free agent.

Third, there was a NWSL Expansion Draft. During an Expansion Draft, teams are able to protect nine players from being picked by one of the expansion sides or to avoid the process, teams trade with the expansion team for protection in the draft. If teams sign free agents before the draft or gaining protection it either impacts who you are able to protect or gives the expansion side more leverage when negotiating for protection. 

Trends versus 2022-23

There were 75 free agents between unrestricted and restricted free agency in the 2023-24 offseason as compared to 45 free agents in the 2022-23 offseason. Whereas in the first year of free agency players largely stayed with their originating team, this past offseason saw a significant increase in players using the newfound freedom to switch teams. In year one, there were almost twice as many players staying with their previous team compared to an almost even split in year two. 


Contract Length also saw changes this season, while the ratio between 1 or 1+1 year contracts and 2+ year contracts stayed at 1:2, there was the introduction of shorter contracts for players switching teams and because of the increase in player movement a larger percentage of the 2+ year contracts were from players switching teams. 

One other change that did indirectly affect free agency was the NWSL extending the maximum contract length a player is allowed to sign up to five years. The below table shows the overall breakdown of all contracts signed by free agents. The biggest bucket which saw a dramatic increase was contracts 3 years long, while there were two 3+1 year contracts—Angel City FC defender Sarah Gorden and Houston Dash forward Maria Sanchez (now playing for San Diego)—and there was one five year contract—Chicago Red Stars forward Mal Swanson. 

Before looking into team breakdowns for the 2023-24 offseason, here is the summary of how teams did in the 2022-23 offseason as a reference:

Breaking Down 2023-24 Free Agency Per Team

Overall, 51 out of the 75 free agents signed with teams over the offseason, and nine players officially announced their retirement from professional soccer ahead of the 2024 season starting. Free agency is just one mechanism for attaining player’s, teams also use the Under 18 mechanism for youth players, draft collegiate players, transfer players from other leagues, trade within the NWSL, or sign free agents from other leagues to make up their roster composition. 

Most Active: NJ/NY Gotham FC

Once again, NJNY Gotham FC was the most active in signing free agents this offseason, re-signing three free agents from its NWSL Championship winning roster, and adding in five additional players including: Crystal Dunn, Rose Lavelle, Emily Sonnett, Tierna Davidson, and Ella Stevens. Only time will tell if the offseason movement has paid off as Gotham currently has 12 players on the injury report in some form or another and currently sits in 11th place out of 14 teams in the table, with only one win in six matches. 

Most Players Lost: Chicago Red Stars

In back-to-back years, the Chicago Red Stars have had the most players originating from their team sign with new teams. That being said, the other offseason acquisitions and Mal Swanson’s resigning has left Chicago in a good place as they sit fifth in the table six matches into the 2024 season. With the new ownership, coaching, and front office staff, it would be surprising to see a similar trend in the upcoming offseason. 

Least Active in Free Agency: Racing Louisville

Racing has done a good job consistently managing their roster to limit any potential player losses due to free agency. In the 2023 season, they gave extensions to three players who would’ve become unrestricted free agents. They also have been fairly successful in their international player signings, requiring less stress on the free agency mechanism as a part of their roster building. 

Taylor VincentApril 29, 2024

Just over a year ago, OL Groupe, the business group that owns French side Olympique Lyonnais men’s and women’s sides, and the Seattle–based then OL Reign, announced that the American sister club would be put up for sale. This is largely due to the fact that Washington Spirit owner Michele Kang was purchasing Lyon’s women’s team from new OL Groupe owner American John Textor and NWSL rules state that owners are not allowed to have a stake in multiple teams. 

The Reign going up for sale made them the third team up for sale during the 2023 NWSL season, joining the Portland Thorns and the Chicago Red Stars, both of which were put up for sale in the fallout from the U.S. Soccer investigation (Yates Report). 

Additionally, in the week ahead of the 2024 NWSL season kicking off, Sportico reported potential ownership changes for both Angel City and San Diego. 

Chicago Red Stars

Sale: $60 million ($35.5mil toward sale, $25.5mil toward investment)

Arnim Whisler was one of the founding owners of the Red Stars back when the Women’s Professional Soccer—a predecessor to the NWSL—was created in 2007. Following the U.S. Soccer investigation led by former attorney general Sally Yates, on October 4th, 2022 Whisler removed himself from the NWSL board of governors, and gave operations control of the club to the executive team. 

This was followed quickly by the Chicago Red Stars board voting to remove Whisler as chairman and, “to transition him out of his board seat immediately with the Chicago Red Stars and to codify his removal from any further participation with either club or board operations.” 

Less than two months later, in early December 2022, Whisler confirmed that he was selling his stake in the team. 

Although players were told that the sale was in its closing stages in April, the sale wasn’t finalized until September 1st, 2023. A group of investors led by Laura Ricketts (co-owner of the Chicago Cubs) paid a total of $60 million toward the sale, with $35.5 million going toward the sale, and $25.5 million earmarked for future investment.

Chicago finished the 2023 NWSL season in last place, but following the ownership change, the hiring of Richard Feuz as general manager, and the hiring head coach Lorne Donaldson in the offseason, the club has hit the ground running during the 2024 season and currently sits in fifth place in the table with only two losses in six games. 

Portland Thorns FC

Sale: $63 million 

The Portland Thorns were established in 2012 ahead of the inaugural season of the NWSL in 2013, under the umbrella of MLS-side Portland Timbers, which Merritt Paulson also owned. Like Whisler, following the release of the Yates Report, Paulson removed himself as CEO of the Portland Thorns and Timbers. On December 1, 2022 Paulson announced he was selling the Thorns, but would maintain ownership of the Timbers and from The Oregonian it was rumored that he was seeking upwards of $60 million for the NWSL-side which had just won its third NWSL Championship. 

Compared to the Chicago sale, the Portland one drew out longer, and the sale wasn’t finalized until January 3, 2024, leaving new ownership with a short runway into the 2024 season. RAJ Sports (Sacramento Kings, AAA baseball club Sacramento Rivercats), led by Lisa Bhathal Merage and Alex Bhathal reportedly purchased the team for $63 million — setting a new NWSL record.

Following the sale, the team struggled in the first few games of the season with three losses and 1 draw in the first four matches of the season. Ahead of week 5 play, it was announced head coach Mike Norris would serve as technical director and assistant coach Rob Gale would become interim head coach as the team conducted a global search for the new head coach. Since the transition, Portland has won their last two matches and moved from bottom of the table to seventh. 

Seattle Reign FC

Sale: $58 million 

Back in 2019, the OL Groupe purchased an 89.5% stake in the Seattle-based NWSL club for $3.125 million. March 18th, it was announced by the OL Groupe that it had signed an agreement with a group that includes MLS team Seattle Sounders and global investment firm Carlyle for the sale of Seattle Reign for a reported $58 million for 100% of the shares. That return is 16x what they purchased the team for, just over four years later. 

The transaction is still not technically closed, pending approval by NWSL and MLS Board of Governors. 

San Diego Wave FC

Sale: $113 million ($35mil for 35% stake, $78mil for 65% stake later)

In 2021, Ron Burkle paid the NWSL an expansion fee of $2 million ahead of the team’s inaugural season in 2022. Since then, the team has set attendance records, became the first expansion team to make it to the playoffs in their inaugural season, and won the NWSL Shield in 2023—in only their second year. 

Ahead of the 2024 season opener, Sportico reported that the team was being sold in a two part deal which would value the Wave at $113 million. Lauren Leichtman and husband Arthur Levine, the founding partners of Levine Leichtman Capital Partners reportedly purchased a 35% stake in the club for $35 million now, with a second part of the deal where the remaining 65% will be sold for $78 million after the 2024 season. 

Angel City FC

Sale: TBD

March 15th, Sportico reported that the board of Angel City FC had hired Moelis & Company, a global investment bank, to explore a sale of the franchise following some reported tension among board members over team governance. 

In a unique team setup, there are four main founders (Alexis Ohanian, Kara Nortman, Natalie Portman, and Julie Uhrman) alongside a number of smaller investors. Although Ohanian is the team’s largest shareholder, he does not control the board, but does serve as the team representative on the NWSL Board of Directors while Julie Uhrman is the acting president. 

Last year, at the highest spot in the league, Sportico valued Angel City FC at $180 million. With San Diego’s sale for roughly $113 million almost doubling the sale value of the Seattle Reign and almost 1.8x the sale value of the Thorns, it will be interesting to see what happens with Angel City in the coming months. 

 

Most Recent Sportico Valuations

As of Oct 4, 2023; Reference Article

Angel City FC: $180 million

San Diego Wave FC: $90 million

Kansas City Current: $75 million

Portland Thorns FC: $65 million

Washington Spirit: $54 million

North Carolina Courage: $52 million

Houston Dash: $50 million

OL Reign: $49 million

NJ/NY Gotham FC: $48 million

Racing Louisville FC: $47 million

Orlando Pride: $45 million

Chicago Red Stars: $40 million

Scott AllenApril 29, 2024

Scottie Scheffler wins the RBC Heritage. Scheffler earns $3.6 million million bringing his 2024 on-course earnings to $18.69 and his career on-course earnings to $61.26 million. 

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Scott AllenApril 29, 2024

Brendan Steele wins the sixth LIV Golf event of 2024 at Miami earning himself $4 million, plus $125,000 from his team finishing third. Steele's career LIV Golf earnings (individual + team) is now at $10.53 million.

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Scott AllenApril 26, 2024
Michael GinnittiApril 23, 2024

Is it commonplace for big name NFL players to be traded leading up to the NFL draft? Not necessarily, but the trade has become a much more expansively used tool across recent NFL offseasons. We’ve seen high profile players moved just minutes after the start of the new league year, shortly after the first wave of free agency, as voluntary workouts have been set to begin, and even as teams broke camp late in the summer - so why not this week as well?

Spotrac takes a look at 5 players rumored to be on the trade block right now, including financial ramifications associated with a potential move.

Brandon Aiyuk (WR, 49ers)

Aiyuk’s contract dispute has been made public, putting his future in San Francisco very much in question. The 26-year-old is set to play out a fully guaranteed $14.1M option salary for 2024, with his eyes set on DeVonta Smith’s recent $25M per year extension in Philadelphia. There are more than a few teams on speed dial here.

Courtland Sutton (WR, Broncos)

Sutton has made it clear that his wish is to stick around for the next iteration of Broncos football, but wants to be paid accordingly to do so. If the two sides remain far apart this week, look for Denver to dangle Sutton and his 2 year, $27.6M remaining contract on the block. A draft week trade would leave behind $7.65M of dead cap to the Broncos, freeing up $9.7M of space.

Patrick Surtain II (CB, Broncos)

Denver exercised a $19.8M option for 2025, putting Surtain on a 2 year, $23.3M guarantee. This doesn’t change their ability to shop the All-Pro cornerback at the draft, a move that could hand them a much needed package of draft capital for the long weekend. If Denver is willing to meet Surtain’s extension asking price (likely north of $21M per year, $70M guaranteed), a trade this spring could be in the cards. The Broncos would take on a $3.1M dead cap charge should a trade come to fruition, freeing up $3.5M of 2024 space.

Budda Baker (S, Cardinals)

Entering a contract year in Arizona, Baker is set to earn $14.6M against a $19M+ cap hit in 2024. He’s locked in as the starting free safety right now, but the right return package could force Arizona to take on much needed draft picks. A draft week trade would leave behind $3.925M of dead cap to the Cardinals, freeing up $15.1M of space.

Marshon Lattimore (CB, Saints)

The Saints processed a conversion maneuver on Lattimore’s contract that moved $13.8M of salary into an option bonus that doesn’t vest until a week before the regular season. In other words - they bought themselves time to figure out how to proceed here. There’s still $31M of dead cap to deal with here, so a trade after June 1st makes the most business sense, but if an opportunity arises to pick up a few draft picks this week, crazier things have happened. The current contract carries 3 years, $51.5M on it, but just 1 year, $15M for practical purposes.

Honorable Mention: Tee Higgins (WR, Bengals)
All signs point to Higgins playing out 2024 on the $21.8M franchise tag. But a late pre-draft offer not unlike what Tennessee agreed to when A.J. Brown was moved to Philly could certainly change this line of thinking.

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