New York Giants: A Close Look At Jason Pierre-Paul Contract
By Curt Macysyn
The New York Giants and Jason Pierre-Paul finally settled upon a contract.
"Here are the terms of the contract, according to Spotrac: Jason Pierre-Paul signed a 4 year, $62,000,000 contract with the New York Giants, including a $20,000,000 signing bonus, $40,000,000 guaranteed, and an average annual salary of $15,500,000. In 2017, Pierre-Paul will earn a base salary of $2,500,000 and a signing bonus of $20,000,000. Pierre-Paul has a cap hit of $7,500,000 while his dead money value is $29,000,000."
Ironically, the average of $15.5 million per season did not provide New York with a “hometown discount” of any sort. In reality, that discount came during the 2017 season, when JPP played under a one-year, $10 million contract.
If this agreement came before free agency commenced, it would have been a win-win.
What’s Not To Like?
First, with a four-year duration, the New York Giants are making the longest possible commitment they can for Pierre-Paul. Even before the fireworks accident, Pierre-Paul had his fair share of injuries. Jerry Reese and company are banking on the 28-year old star defensive end to still be an elite player at age 32.
That’s anything but a given.
With this contract, Big Blue commits $32.5 million in its set of defensive ends for the next four seasons. According to Over The Cap, this contract means that the Giants tandem of Pierre-Paul and Vernon are the highest and second highest paid defensive ends (4-3 scheme) for the 2017 season.
Keep in mind, the NFL is a copycat league, and the focus on quarterback sacks has somewhat eroded. Last season (2016), the top three teams averaged 2.87 sacks per game. In the immediate aftermath of the Giants victory over the New England Patriots in Super Bowl XLII, the top three teams averaged 3.23 sacks per game (2008), according to TeamRankings.
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On the other hand, New York’s defense is better with Jason Pierre-Paul, than it is without him.
What’s To Like?
First and foremost, the Giants needed to re-establish themselves as a destination point for their draftees. From 2007 until 2012, JPP remains the sole number one pick to still be with the team. Guys like Aaron Ross, Hakeem Nicks and Prince Amukamara never made it to a second contract with New York. Injuries may be partly to blame, but are not the whole story. Keep in mind, JPP has had his own injury history.
The loyalty factor becomes important with cornerstone players like Justin Pugh and Odell Beckham angling for a lucrative second contract.
Secondly, like it or not, Pierre-Paul remains the focal point of the team’s defense. General manager Jerry Reese was correct when he said, “Not only is [Pierre-Paul] one of our best players, he is one of our leaders.”
"“I would like to thank Mr. Mara and Mr. Tisch for their commitment and belief in me. I look forward to helping you guys get back to the SB soon. I would like to thank the rest of the NY Giants organization for trusting in me for another 4yrs and to be part of this great franchise,” Pierre-Paul wrote on Instagram."
There should be little doubt that Pierre-Paul wanted to remain with the New York Giants. After his fireworks accident, JPP seemed to rededicate himself to maximizing his talent and produce for the team that drafted him.
The Giants had to become more than a destination point for players who want buckets of money thrown their way. This contract accomplishes just that.
Who Won?
This one seems like a no-brainer.
Short-term the Giants save $9.5 million in cap space this year. But overall, JPP signed a contract that makes him mostly bullet proof as far as being a cap casualty later in the contract.
Ironically, looking at this contract, it does appear that Pierre-Paul leveraged his franchise tag into a better deal. The dead cap space in the first two years of this contract are $29 million and $21 million respectively. Realistically, no one gets cut after signing a contract, but year two can be a gamble. With a $21 million cap hit, assuredly JPP won’t be cut in year two.
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The dead cap space in years three and four, are seemingly poison pills as well. The Giants would have to swallow hard on the dead cap space of $10 million in year three, in order to save $9.5 million. In year four, Big Blue could back out of the deal and absorb a $5 million dead cap hit. That’s still pretty pricey.
The cap space saved for 2017 could have been used before free agency started to lure an Andrew Whitworth to the team. Instead, perhaps Jerry Reese can now pry away a Joe Thomas (Cleveland Browns) or Joe Staley (San Francisco 49ers) away from those teams on draft day.
Thomas has an $11.5 million cap hit for 2017, while Staley has an $11 million hit this season.
Time will tell if this investment is worth it. And unless the Giants make a major improvement before the 2017 season begins (i.e. – draft day trade), JPP will be the clear victor in these negotiations.