When Cardinals rookie running back Jeremiyah Love recently put pen to paper on his rookie contract, he secured the biggest full guarantee of any running back in NFL history. And while some will argue that the contract sets a new bar for full guarantees at the running back position, the truth is that the compensation package reflects not the fact that he’s a running back but the fact that he was the third overall pick in the draft.
Rookie deals are driven not by position on the field but by position in the draft process. Anyone taken in that spot would have gotten the same deal. It wouldn’t have mattered whether he was a running back, quarterback, defensive end, or any other position. The contract comes from where the player was picked, not where he lines up or how often he plays.
That said, the Cardinals were willing to make the financial investment that went with picking Love third. They could have taken a running back later in the draft, and paid him a lot less. Picking Love with the third selection comes with the price of committing to a four-year, $53 million contract. And because all first-round picks are fully guaranteed for four years, he gets it all.
When it’s time for veteran running backs to renegotiate their current contracts or become free agents, the Love deal won’t be part of the analysis. It wasn’t negotiated based on the market at the position. It was automatic, a reflection only of the fact that he was the third overall pick.
The average payout of $13.25 million per year puts him at seventh among all running backs. Jets running back Breece Hall, whose new deal with the Jets includes only $29 million guaranteed, will make $15.25 million per year — four spots ahead of Love.
The contract for Love that will become relevant to the market is his second one. It will be determined by the market at the position at the time the Cardinals offer him a second contract (if/when they do).
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