Receiver Randall Cobb is reportedly looking for $9 million annually in his next contract, which would place him squarely in the realm of No. 1 receiver money.
The only problem with that, if you’re the Green Bay Packers, is that Cobb is a No. 2 receiver. That and the fact that they just gave No. 1 receiver Jordy Nelson a four-year, $39 million extension prior to the 2014 season.
If the Packers meet that $9 million number, they’ll be paying a pair of receivers more than $18 million a season.
That seems ludicrous from a salary cap standpoint, but we’ve heard rumblings previously that it might come to this. Cobb is only 24 and coming off a season where he set career highs in catches (91), yards (1,287), and touchdowns (12).
And if you look at it from that perspective, $9 million is a perfectly acceptable number. At $9 million annually, Cobb would be the 10th highest paid receiver in the NFL (tied with Greg Jennings, interestingly enough).
That top 10 list, however, is going to change a bit in the coming months. Both Dallas’ Dez Bryant and Denver’s Demaryius Thomas will be free agents and will get bigger deals than Cobb.
Arizona’s Larry Fitzgerald, who is second in average salary at more than $16 million, will have his deal restructured or he’ll be released. Candidates for a similar such fate in the top 10 are No. 3 Mike Wallace ($12 million), No. 4 Dwayne Bowe ($11.2 million), No. 9 Andre Johnson ($9.7 million) and Jennings.
Of course, there’s another way to look at this.
Pretty much all of the guys in this top 10 fit a specific mold — big, strong, outside No. 1 receiver types.
Cobb is a small receiver, who relies on quickness and plays primarily in the slot.
The one exception in the top 10 is the Jets’ Percy Harvin, who is at No. 6 with $10.7 million annually. The Giants’ Victor Cruz is 11th with $8.6 million annually.
That still doesn’t give the Packers any leverage though, because Cobb is as good as if not better than both Harvin and Cruz. The important thing to note is that not many slot receivers get the kind of money that’s being attached to Cobb.
Finally, there are only four teams in the league who have more than $18 million invested in a pair of receivers, which is what the Packers would have if they paid Cobb $9 million a season. They are Arizona (Fitzgerald, $16 million; Ted Ginn, $3.25 million), Detroit (Calvin Johnson, $16.2 million; Golden Tate, $6.2 million) and Miami (Wallace, $12 million; Brian Hartline, $6.1 million).
The Jets are close (Harvin, $10.7 million; Eric Decker, $7.25 million).
Take a look at that list. Those franchises are either perennial losers (Arizona and Detroit) or current losers (Miami and the Jets).
You certainly could make the argument that the only teams that invest heavily in a pair of receivers are teams neither players or fans want to be associated with.
We have our doubts that’s going to get the Packers any sort of discount though.