Warning: include(/home/jason423/public_html/comments/comment_script_1.3.1/comment.php): failed to open stream: No such file or directory in /home/jason423/public_html/mangoldrevised.php on line 10

Warning: include(): Failed opening '/home/jason423/public_html/comments/comment_script_1.3.1/comment.php' for inclusion (include_path='.:/usr/lib/php:/usr/local/lib/php') in /home/jason423/public_html/mangoldrevised.php on line 10
A detailed look at the Nick Mangold contract
New York Jets Salary Cap Page

A Detailed Look at the Nick Mangold Contract

After doing some detective work on my end I was able to obtain the full details of the Nick Mangold contract extension. While certain information had been leaked on other sites which was used as the basis of an article written to value the Mangold extension new facts have come to light that will portray a more accurate picture of where the Mangold extension ranks in the NFL.

The Actual Contract Value

There have been many different reports regarding Mangold's total contract value. Original reports were 7 years for a total of $55 million. Those were later changed to $54.075M over the 7 year extension period. In our article on the contract we have erroneously stated the contract was $55M over 8 years. The total value of the contract is actually $57.6M dollars over an 8 year period, with $54.075M in new money included in the contract. The total contract value is the highest total ever received by an interior lineman.

Ranking the Extension

As we did before lets look at the contract compared to the deals signed by C Jason Brown of the Rams, G Jahri Evans of the Saints, and the old contract G Alan Faneca signed with the Jets. For the sake of discussion we will use Mangold's new money totals during the life of the actual extension for his totals.

Name Years Total
($ millions)
Guarantee
($ millions)
Three Year Total
($ millions)
Five Year Total
($ millions)
Average per year
($ millions)
Jahri Evans 7 56.7 19.0 25.7 39 8.10
Alan Faneca 5 40.0 21.0 24.0 40.0 8.0
Nick Mangold 7 54.075 22.0 24.78 36.4 7.725
Jason Brown 5 37.5 20.0 24.0 37.5 7.5

In terms of total value Mangold's extension ranks very highly. His per year salary ranks only behind the two top level contracts awarded to guards, both of whom were free agents when they signed their deals and in no way hampered by CBA regulations such as the 30% rule and reallocation rule. His guarantee of slightly over $22 million represents a 10% increase over the Brown contract and an almost 16% increase over the Evans deal. The first three years of Mangold's extension represents nearly $25 million in new money, higher totals than the Faneca and Brown contracts and only slightly less than the Evans deal.

In looking at the 5 year value we see Mangold got an excellent deal. Nick will earn 36.4M in new money in the first five extension years, with a higher percentage guaranteed than any that the other players received. In addition it should be noted that the 37.5M dollar total contract value for Brown includes a $2.3 million buyback that must be exercised by the Rams in the final year of the deal, so the base value is actually lower than Mangold's first 5 extension years.

Beyond the injury guarantee

Much has been made of the guarantees being accepted by players this season, with almost everyone being forced to make a decision between an injury or a skill guarantee. Mangold accepted an injury guarantee totaling $22,002,300 which protects his income in the event that a devastating injury derails his career. The criticism of such deals are that this is not a full guarantee and if the Jets wanted to they could simply walk away from the contract without ever paying a dime to the player.

While that is true to some extent, there are a few things to keep in mind with such criticisms. For one, Mangold, unlike Elvis Dumervil of the Denver Broncos, received a significant raise over his original 2010 compensation. Mangold, by agreeing to the extension, will earn an additional $4,000,000 in 2010. That money is real and represents a major raise for the player. Secondly, if the Jets were to simply decide they want to tighten the purse strings and not pay Mangold, so what? Mangold is clearly the best center in the NFL and on the open market he would easily obtain a new contract that pays him whatever he is set to earn in this contract.

Mangold's team has also done a good job of protecting their client's money by utilizing a three tiered signing bonus structure. Under the terms of Mangold's contract he will earn a signing bonus in 2010 of $6,372,600, a supercede signing bonus in 2011 of $9,724,800, and a second supercede signing bonus in 2013 worth $3,000,000. Remember that signing bonus money is prorated over the term of the contract, up to six years. If the player is cut from the team any remaining portion of the signing bonus prorations immediately accelerates on the team's salary cap forcing the team to waste valuable cap space on a player who is no longer with the team. In essence signing bonus money acts as a skill guarantee for the early years of the contract. If the Jets wanted to cut Mangold in 2011 before he received his second signing bonus the Jets would have a dead cap charge of over $5.3 million. Releasing him in 2012 would cost the team nearly $12.4 million in cap space. Those high numbers more or less give Mangold the full guarantee for both skill and injury. In fact, if the Jets decide to pick up the second supercede signing bonus, likely considering the cap ramifications of not doing it, you could consider the possibility very high of Mangold seeing every penny contained in the first six years of the contract.

A good deal for both sides

With the Jets having so many “name” players that require extensions in the coming year it was essential to come to agreements that are both beneficial to the player and the team. Mangold’s deal gives the Jets some of the cap relief that they would need to re-sign some of the other players.

The basics of the deal are:

$23,236,900 in base salaries ($5,554,900 guaranteed for injury)
$12,620,700 in easily attainable escalated salaries
$6,372,600 2010 signing bonus (fully guaranteed for injury)
$9,724,800 2011 supersede signing bonus (fully guaranteed for injury
$3,000,000 2013 supersede signing bonus
$2,645,000 in workout bonus money ($350,000 guaranteed for injury)


The cap charges associated with the deal indicate the mutual effort by both sides to make this deal happen. Here are the yearly cap charges that will be associated with Mangold. Presented alongside are the cap charges associated with Brown, Evans, and the old Faneca contract. Brown's cap charges are presented assuming the Rams exercise a $2.3 million dollar buyback in the final year of the deal and Evans cap charges are based on the contract information available via Rotoworld. Please note that the cap charges presented begin with Mangold’s first extension year, which is 2011. His 2010 cap charge would be $3.099 million. As you can see the Jets got themselves a solid deal with relatively low cap charges in the key 2011 thru 2014 seasons.

Contract Year Mangold
($ millions)
Evans
($ millions)
Brown
($ millions)
Faneca
($ millions)
Year 1 4.9437 9.0 7.2 5.64
Year 2 5.3676 5.0 6.6 8.09
Year 3 6.3915 5.0 6.6 8.59
Year 4 7.502 9.2 7.2 8.84
Year 5 10.6829 9.3 10.7 8.84
Year 6 10.8208 9.3 - -
Year 7 9.675 8.5 - -


From Mangold's side its also a strong deal. In addition to being the highest paid center in the NFL the structure will likely allow Mangold to receive at least six years of the eight year contract from the Jets. The following are the dead cap hit's and subsequent cap savings the various teams would be forced to take on by releasing the player during the course of their contract.

Contract Year Mangold
Dead Hit/Saved Cap
($ millions)
Evans
Dead Hit/Saved Cap
($ millions)
Brown
Dead Hit/Saved Cap
($ millions)
Faneca
Dead Hit/Saved Cap
($ millions)
Year 1
15.0353/(10.0916) 12.0/(3.0) 11.0/(4.8) 4.2/1.44
Year 2 12.3524/(6.9848) 10.0/(5.0) 6.6/(0.4) 3.36/4.73
Year 3 12.6695/(6.278) 8.0/(3.0) 4.4/(2.8) 2.52/6.07
Year 4 12.0695/(4.5675) 6.0/3.2 4.4/2.8 1.68/7.16
Year 5 6.1037/4.5792 4.0/5.3 2.2/8.5 0.84/8.0
Year 6 2.8208/8.0 2.0/7.3 - -
Year 7 0.6/9.075 0.0/8.5 - -

Based on those numbers the anticipated earnings before the team seriously considered the release for each player would be

Faneca - $24,000,000
Brown- $29,000,000
Evans- $32,200,000
Mangold- $39,925,000

That is a strong position for Mangold and will likely see him earn more than any other interior lineman that has recently come under contract. It also sets him up to either renegotiate a new deal with the Jets or hit free agency at the age of 32, which should still be young enough for a top of the line center like Mangold to receive one more lucrative NFL contract.

Overall this is a deal that exemplifies teamwork by both sides to come up with a structure that benefits all parties. The Jets get their man under contract for the foreseeable future, Mangold gets the financial security he deserves, and the fans of the team are happy to see a contract dispute end before it gets ugly on all sides.

RSS Subscription Twitter