Palmer still has the highest annual average

When quarterback Eli Manning’s new contract was inked on Wednesday, the deal was heralded as having the highest multi-year average in the NFL.

The only problem?  It isn’t.

Bengals quarterback Carson Palmer earns an average of $16,166,667 per year on a contract that was signed in December 2005.

Manning’s average, based on the seven-year, $106.9 million deal, is only $15.2 million.

In all fairness, the six-year, $97.5 million extension has an average value of $16.25 million.  But the total average, based on the $9.4 million he was due to earn in 2009, is lower.

Meanwhile (and we’ll address this in more detail later), the talk regarding the average annual value of the contract overlooks the fact that Manning’s guaranteed money really isn’t as jaw dropping as it could have been.

So maybe he didn’t get overpaid after all, because maybe the deal doesn’t represent the cutting edge contract that it was made out to be.

UPDATE:  After further review, Eli ended up passing Palmer.

23 responses to “Palmer still has the highest annual average

  1. WOW! the bungles are really gettin’ a bargain, that just under $1 mil./fumble & only about $2 mil./win…yet they knock Mike Brown because he chooses to be the Prez. & GM???

  2. Julius Peppers should have the highest average. Granted it’s only a one year franchise #.

  3. Come on Florio,
    does this really warrant reporting. We’re in the middle of training camp and you’re talking about a media oversight regarding highest average salary. Report on something more important like training camp, free agents, rookie contracts or Favre(j/k).

  4. So what? You think the fans of these two guys even care the Eli makes slightly less? Only accountants, agents and lawyers care. lol

  5. So let me get this right, thats…
    $16,166,667/16 = ~$1,010,416.69 per game.
    $$1,010,416.69/60 = ~$16,840.28 per minute (excluding overtime games)
    $16,840.28/60 = ~$280.67 per second
    $16,840.28*2 = ~$33,680.56 per offensive minute
    (assuming offense is on field half of the game)
    $33,680.56/60 = ~$561.34 per offensive second
    (assuming offense is on field half of the game)
    That’s quite the pay rate for someone who’s had ONE winning season and no playoff wins. Gotta love them Bengals.

  6. There should be an average per game as well. That would shoot Palmer’s contract into the stratosphere.

  7. Maybe with all of that money, Eli can get some surgery on his mouth, so that it doesnt sound like he has a mouth full of shit everytime he speaks

  8. exactly. Eli’s guaranteed money is even way less than what Matt Stafford is guaranteed in his rookie deal. this “highest paid player” business is just Tom Condon’s PR team at work. look at all these big money contracts signed by players… they either get renegotiated down or turned into newer, more lucrative-sounding extensions after about 3-4 years. the reality is Eli will probably see more than the guaranteed money, but not by much.
    you want to talk about QBs who have something to prove and probably don’t deserve what they are paid… Stafford and Palmer are at the head of the class.

  9. Palmer’s worth more than Manning, better rating, better arm, better leader, doesn’t have better ownership or a better O-Line though. Sounds about right to me.

  10. palmer doesnt deserve it
    neither does manning, all he did was throw up a lucky pass
    but at least he won a SB

  11. LOL @ Florio
    for trying to down play a $106.9 million contract.

    Eli should give half of that money to the defensive line, along with a pat on the back, and big thank you.

  12. That’s a misleading representation of Palmer’s average. During the 2005 season, Palmer signed his new deal, which pays him $122.5 million over the ten years 2005-2014. ($3.75 million of that amount was his existing 2005 salary.) So, by the same token as Manning’s new average is about $15.2 million, Palmer’s average on that deal was either $12.25 million or $13.19 million, depending on how you want to look at it.

  13. Yea, Stiller, the Bengals should definitely just pack it in and sign 52 players at the league minimum. That would be a stellar idea stiller.

  14. You put Palmer on the Giants and their fans would be wetting their pants.
    It is not his fault that the Begals suck just like it was not Manning’s credit that they won the Super Bowl.

  15. NOPE! Carson WAS for real, missed his window, now he just coughs the ball up to the first defender that lays a paw on him!!!
    No worries Carson, the feeling is mutual, Pittsburgh isn’t fond of you either, the feeling would be stronger, but you’re just not significant enough to hate.

  16. Hey SuxBigDudes,
    I’m sure you’re right about the Bengals, but I say we play the games anyway.
    See you 9/27/2009

  17. I’llBJfrank says:
    “see you 9/27/2009”
    You mean when we take over your “jungle” yet again?
    Surely there is an appropriate forum on which you can post your fantasies, unfortunately this isn’t it!

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