Rivers Gets New Deal; NFL Rookies Still Overpaid

As we mentioned this morning, Philip Rivers just got a monster new contract to remain the Chargers’ kinda-douchey quarterback. The important particulars: 6 years, $93 million. Well, check that - there’s no way he earns all $93 million.

Philip Rivers Sad Face
(”No sir, I don’t like it.”)

That’s because he’s only guaranteed $38 million, and that figure’s likely a lot closer to the amount Rivers will actually get out of the contract than $93 million. Hey, it’s the nature of the game. Guys get released - or their contracts “restructured” - all the time. And Rivers was paid something approximating a fair market price, considering Eli Manning just got $107 million. But there’s one aspect of this that’s still troubling.

That’s the fact that Rivers, for the boatload of money he did receive, only got as much guaranteed money as if he’d been drafted 4th in 2009 instead of 2004.

Allow us to explain.

Read more…