Jimmy Garoppolo: Why 49ers’ record-breaking deal is good for both sides
The San Francisco 49ers locked up quarterback Jimmy Garoppolo to a five-year, $137.5 million contract. Niner Noise breaks down why the deal is good for Jimmy G and the 49ers.
San Francisco 49ers quarterback Jimmy Garoppolo is $137.5 million richer.
How did that happen?
Garoppolo signed a new contract just yesterday evening.
Because of this, the 49ers have officially locked up their franchise quarterback. But is Garoppolo worth $27.5 million annually? Are the 49ers paying Garoppolo too much?
This deal is good for both sides and here is why.
San Francisco 49ers
Why the deal makes sense for Jimmy Garoppolo
Reason No. 1: Garoppolo becomes the richest player in NFL history on an average-per-year basis.
On Aug. 28, 2017, Detroit Lions quarterback Matthew Stafford signed a contract worth $27 million annually. Peter Panacy of ninernoise.com broke down what a deal could look like for Garoppolo.
As expected, Garoppolo’s deal pays him slightly above Stafford, at $27.5 million annually. Garoppolo is the NFL’s highest paid player no matter how you slice things.
Reason No. 2: Garoppolo now has more long-term security on this deal than he did his rookie contract.
The New England Patriots selected Garoppolo with the No. 62 pick in the second round of the 2014 NFL Draft. As a result, Garoppolo was given a four-year, fully guaranteed contract. Garoppolo would become a free agent once his rookie deal was up.
Let’s face it, the Patriots were never going to pay Garoppolo to be a back up. Head coach Bill Belichick said, “We had to make a decision.” At the trade deadline, the Pats didn’t feel they could hog Garoppolo any longer. They felt they must strike while the iron was hot.
At this moment, Garoppolo has five years ahead of him, as he is scheduled to be a 49er until 2022. One year may not seem like a big difference, but current and former NFL players will tell you that security is everything.
More money and more years, so to speak.
Why the deal makes sense for the 49ers
Reason No. 1: The 49ers actually saved money.
Remember Panacy’s article from earlier? Panacy shared ESPN analyst Field Yates’ thoughts:
"Don’t be surprised if a long-term deal fetches near $30 million per season for Jimmy G, as he carries unique leverage as an ascending player who just revitalized the franchise."
Speculation could state Washington Redskins quarterback Kirk Cousins could fetch nearly $30 million per year, so it only made sense to believe Garoppolo would get at least as much. Ultimately, the 49ers were able to settle for highest-paid player ever, but nothing too outstanding against the current market.
Reason No. 2: The 49ers set themselves up for the present and future.
Now, remember how we sliced the contract up earlier? Let’s look at it from this angle from ESPN’s Adam Schefter:
When 49ers' QB Jimmy Garoppolo's 5-year deal gets finalized shortly, it will include the largest three-year cash total for a new contract in NFL history, just shy of $90 million, per source.
— Adam Schefter (@AdamSchefter) February 8, 2018
The 49ers are able to front load the deal. Paying Garoppolo $30 million per year over the first three years, on a contract that averages $27.5 million annually, allows the 49ers to pay Garoppolo just $23.75 million annually in 2021 and 2022.
The team could need more money then, as they now have around $90 million in cap space for 2018 but may not have as much cash flow down the line. Building a great team means dishing out contracts similar to Garoppolo’s that pay players a lot of money.
Next: Should the 49ers draft Saquon Barkley if he falls?
After a trade that could go down as the greatest in NFL history, (the 49ers sent a measly second-round pick to the Pats for Garoppolo) the 49ers have now given Garoppolo the largest contract in history, and it was a good move.
Will the 49ers make a run for their sixth Lombardi Trophy in 2018? Stay tuned to find out.