NFL teams set astronomical free agent spending record
NFL teams are paying whatever it takes to get the best players on their sideline
NFL free agency has hit another apex in spending this year, according to Spotrac. With the offseason dust settling and nearly 400 free agents signed, the NFL has set another record in personnel spending.
Spotrac reports a record $2.4 billion has been spent on free agents this offseason when assessing the total value of contracts. That figure surpasses last year’s record spending by over $140 million.
Nearly $1.1 billion of that was total guaranteed money for free agents with $949 million guaranteed at signing.
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Perhaps the most astonishing aspect is not the singular $100 million deal, but the quantity of contracts worth $30 million. Twenty-two players signed contracts with a total value worth more than $30 million, and eight players received at least $20 million guaranteed at signing.
Spotrac, which has contracts dating back to 2011, hadn’t reported a deal worth less than $70 million since 2014 until this year. Cornerback A.J. Bouye and the Jacksonville Jaguars blew everyone out of the water with a $67.5 million deal over five seasons with $26 million in guarantees.
The magnitude of spending in the NFL has become ridiculous thanks to television deals and league-wide sponsorships. Compare these contracts to Major League Baseball, the lone major sport without a salary cap, where free agents received contracts totaling less than $1.5 billion, a billion dollars less than the 2016 free agency period.
This year the 31 NHL teams spent $500 million on free agents compared to 2011 when they spent only $52 million on available players.
These new figures only magnitude an already pulverizing presence brought down by the NFL despite a loss in television ratings last season.