11 gets 6 for 67
One of my first questions when it became almost certain that the Seahawks would complete the trade for Percy Harvin was, “What number will he choose to wear in Seattle?” Since the Seahawks retired the number 12 in 1984 for the 12th Man he would not be able to wear the number he wore with the Minnesota Vikings.
I had hoped he would wear a big boy receiver number, one in the 80′s, but instead he chose Jermaine Kearse‘s #11. He indicated that Jermaine would be compensated for his number.
Harvin’s new six year $67 million contract gives him the extra money he needed to buy the number of a guy who may or may not even make the team next year.
Two years ago the Seahawks gave another former Viking, Sidney Rice, a five year $41 million contract. Sidney has three years and $26 million in base salary left on his contract. Another $3.6 million left from signing bonus money.
During those same three years the Seahawks are on the hook for $31.2 million to Percy Harvin.
That’s a whopping $60.8 million over the next three years to their top two receivers, yet it might not be as bad as it appears. The Seahawks could rework Sidney Rice‘s contact next year and pick up some significant cap space. That is not necessary, just an option.
The other thing to look at is Zach Miller‘s contract. He has 3 years and $24 million left on his contract. The nice thing about that is that his cap number drops significantly after this year. In 2013 Zach Miller‘s cap hit is $11 million while Harvin’s is $4.9 million.
In 2014 Miller’s cap number drops to $7 million while Harvin’s soars to a contract high of $13.4 million.
The total cap increase between Miller and Harvin over the next two seasons is only $4.5 million. During that same span Rice’s number stays the same and Ben Obomanu’s $2.3 million drops off the books because his contract ends.
Golden Tate‘s contract also ends and $0.88 million in cap space will be added. So the increase in the cap is down to $1.32 million from 2013-2014.
Of course that will leave Golden Tate looking for a new contract, however that is a piece for another time.
This contract did not break the Seahawks bank.
Comparing the top three WR’s signed this off season
Dwayne Bowe – Chiefs
- Signed a 5 year $56 million contract with $26 million guaranteed.
- Average of $11.2 million per season
- 2013 cap hit $4 million
- 2014 cap hit $12 million
- 2015 cap hit $14 million
- 2016 cap hit $13 million
- 2017 cap hit $13 million
Percy Harvin – Seahawks
- Signed a 6 year $67 million contract with $25.5 guaranteed (assuming the Seahawks keep him next season)
- Average of $11.17 per season
- 2013 cap hit $4.9 million
- 2014 cap hit $13.4 million
- 2015 cap hit $12.9 million
- 2016 cap hit $12.3 million
- 2017 cap hit $12.35 million
- 2018 cap hit $11.15 million
Mike Wallace Dolphins
- Signed a 5 year $60 million contract with $30 million guaranteed
No word on the break down of his contract by season yet.
I expected Percy Harvin’s deal to start around the Dwayne Bowe contract and wind up just north of his deal. As expected Mike Wallace got the largest compensation.
The Seahawks were able to get Harvin under a contract that, despite being $67 million, was a good deal for the team. It almost feels like he gave the Seahawks a bit of a discount for a chance to play with Russell Wilson and for Pete Carroll.
Oh, one more thing. . .
The Seahawks still have about $14.6 million left in cap room after releasing Leon Washington. More then enough to add some more cogs.
* Special thanks to Sportrac for the break down of the contract info used in this piece.