The NFL salary structure is imperfect because a player's salary doesn't always match his production. This is especially true with draft choices, since their compensation is dictated by draft position. Highly productive older veterans, except quarterbacks, have a difficult time getting lucrative long-term deals because teams are afraid of a drop-off in play as these players age.
Here's a look at some of the NFL's most underpaid players grouped by the positions used for franchise player designations. A player had to be eligible to renegotiate his contract under the NFL's Collective Bargaining Agreement in order to be considered. Players drafted during the last three seasons (2013 through 2015), like Odell Beckham, Aaron Donald, DeAndre Hopkins and Khalil Mack, have been excluded because they won't be able to sign new deals until the end of the third year of their rookie contracts.
Overall contract packages of players were evaluated in addition to 2015 compensation. Age was also a factor. This means someone like safety Charles Woodson's value (one year worth up to $4.95 million through incentives) is discounted even though he should get All-Pro consideration at 39 years old. If he were a decade younger, a contract at the top of the safety market would be warranted.
OFFENSE
Quarterback
Tom Brady, New England Patriots
- Contract Value: $27 million/3-year extension ($9 million per-year average)
- 2015 Compensation: $8 million
- Future Compensation: $9 million in 2016; $10 million in 2017
The big hometown discount Brady took in a 2013 offseason contract renegotiation that freed up substantial salary cap room for the New England Patriots over the next two seasons hasn't become a trend among superstar players. Brady received $33 million, which was fully guaranteed, in the first two years of the new deal instead of the $30 million he was scheduled to make in the remaining two years of his old contract. The final three years of Brady's pact (2015 through 2017) for $24 million were guaranteed for injury at signing. These years also became guaranteed for skill (without an offset) by him being on New England's roster for the final game of the 2014 regular season. Right before the playoffs started, Brady gave up the skill guarantee in these three years. In exchange, $1 million was added to each of his remaining base salaries.
If Brady had opted for a deal at his market value in 2013, the average of the new contract years would have been in excess of $20 million per year. Had he played out his contract, Brady could have leveraged New England's Super Bowl XLIX victory into a three-year deal at more than $22 million per year to overtake Aaron Rodgers as the NFL's highest-paid player.
Kirk Cousins, Washington Redskins
- Contract Value: $2,572,688/4 years ($643,172 per-year average)
- 2015 Compensation: $660,000
- Future Compensation: In contract year
Cousins, as the NFL's lowest-paid starting quarterback, has capitalized on head coach Jon Gruden's decision to start him over 2012 Offensive Rookie of the Year Robert Griffin III. He has earned NFC Offensive Player of the Week honors twice this season. As an ascending player that has demonstrated he can be an effective starter, the Redskins shouldn't balk at paying Cousins in the neighborhood of the average starting quarterback. According to NFLPA data, this figure is currently $13,324,313.
A franchise tag won't be out of the question to keep a quarterback-needy team from making a run at Cousins if he can get the Redskins to the playoffs through strong play during the last quarter of the season. The non-exclusive quarterback franchise tag should be $19.671 million with a $153.4 million 2016 salary cap, which is the high end of salary cap projections given to NFL teams last week. Some of the same analysis applies to Brock Osweiler with the Denver Broncos, who is more of an unproven commodity.
- Contract Value: $3.35 million/3 years ($1.15 million per-year average)
- 2015 Compensation: $1.15 million
- Future Compensation: $1 million (will increase from $500,000 to $1 million based on playing time)
Taylor is the NFL's lowest paid starting quarterback that isn't on a rookie contract after unexpectedly emerging from a three-way quarterback competition during the preseason. Even though an additional $7 million is available to Taylor over the life of the contract, it doesn't adequately address his salary inequity. Fortunately for Taylor, his 2017 contract year for $1.2 million is voiding because he will play at least 50 percent of Buffalo's offensive snaps this season.
In hindsight, Taylor should have opted for a one-year contract with less money, because a Nick Foles-type deal from the Bills would have been conceivable. Foles signed a two-year, $24.5 million contract extension (worth a maximum of $38 million through incentives) with the St. Louis Rams in the preseason containing $13.792 million in guarantees. There's also a mechanism to void the final year of Foles' deal with outstanding performance.
Others: Brock Osweiler, Denver Broncos ($3,516,678/4 years, contract year)
Running Back
Doug Martin, Tampa Bay Buccaneers
- Contract Value: $6,787,528/4 years ($1,696,882 per-year average)
- 2015 Compensation: $1,315,572
- Future Compensation: In contract year
Martin is taking advantage of Tampa Bay declining to pick up his fifth-year option in 2016 for $5.621 million. The NFL's second-leading rusher with 1,133 rushing yards, Martin is on pace for a career-best 1,511 yards. Head coach Lovie Smith recently indicated that retaining Martin is a priority. Unfortunately, Martin plays the wrong position to truly take advantage of his success. It has been a buyer's market with running backs during free agency in recent years. Nonetheless, Tampa Bay could re-sign him to a long-term deal averaging in the neighborhood of the declined option-year amount.
Others: Chris Johnson, Arizona Cardinals ($1.15 million/1 year, includes $280,000 of incentives earned); Lamar Miller, Miami Dolphins ($3.468 million/4 years, contract year)
Wide Receiver
- Contract Value: $6,787,528/4 years ($1,696,882 per-year average)
- 2015 Compensation: $1,315,572
- Future Compensation: In contract year
Leg injuries have slowed Jeffery more than opposing defenses. A bad hamstring cost him four games earlier this season. Jeffery is just getting over a groin injury. He also missed the entire preseason with a left calf strain. The 2012 second-round pick is currently third in the NFL with 98.6 receiving yards per game. If Jeffery can put the leg problems behind him, he could land a contract from the Bears comparable to the deals Dez Bryant, Julio Jones and Demaryius Thomas recently signed. These contracts average approximately $14 million per year with more than $40 million in guarantees. If the Bears aren't comfortable making that type of commitment, expect Jeffery to receive Chicago's franchise player designation, which should be $14.471 million with a $153.4 million 2016 salary cap.
Antonio Brown, Pittsburgh Steelers
- Contract Value: $41.96 million/5-year extension ($8.392 million per-year average)
- 2015 Compensation: $8 million
- Future Compensation: $6.25 million in 2016; $8.71 million in 2017
Brown was the beneficiary of Mike Wallace's contract dispute, where he missed almost all of the 2012 preseason. He received his five-year extension after his second NFL season. Since then, Brown has developed into one of the game's most dangerous receiving threats. He would have been on track to obliterate Calvin Johnson's single-season receiving-yard record (1,964) and break Marvin Harrison's single-season reception record (143) if Mike Vick hadn't been Pittsburgh's quarterback for three games while Ben Roethlisberger was hurt. In those games, Brown caught 11 passes for 111 yards. Minus Vick, Brown projects to a 146-catch, 2,132-yard season.
Brown has expressed dissatisfaction with his contract but wisely didn't follow in Kam Chancellor's footsteps by holding out with three years remaining. The Steelers acknowledged Brown's unhappiness by moving $2 million of his 2016 salary to 2015 in a preseason contract restructure for salary cap purposes. The three-time Pro Bowler might take a different tact if the Steelers refuse to renegotiate his contract during the offseason, which would be a departure from team policy. Outside of Roethlisberger's first extension in 2008, the Steelers have waited until a player is entering his contract year to renegotiate. Brown would be justified in insisting on becoming the NFL's highest-paid wide receiver, who is currently Johnson at slightly more than $16.2 million per year.
Julian Edelman, New England Patriots
- Contract Value: $17 million/4 years ($4.25 million per-year average), $19 million maximum with incentives
- 2015 Compensation: $2,671,875
- Future Compensation: $3.5 million in 2016; $4 million in 2017
The Patriots played hardball with Edelman when there was tepid interest during free agency after his breakout 2013 season of 105 receptions for 1,056 receiving yards. He returned to New England on a deal for less than the $5.7 million-per-year contract Danny Amendola signed with the team a year earlier in free agency.
Edelman is best known as a slot wide receiver but has proven to also be an effective outside wide receiver. He really should be among the highest-paid slot guys. This would put his deal somewhere between the $8.6 million per-year average of the five unrestricted free agent years Victor Cruz gave up in the six-year, $45.879 million deal he signed with the New York Giants in 2013 as a restricted free agent and the $10 million per year Randall Cobb received in the offseason to remain with the Green Bay Packers after rejecting bigger offers elsewhere.
Tight End
Gary Barnidge, Cleveland Browns
- Contract Value: $3.75 million/3 years ($1.25 million per-year average)
- 2015 Compensation: $1.2 million
- Future Compensation: In contract year
Barnidge is making everyone in Cleveland forget that Jordan Cameron spurned the Browns two-year, $15 million contract offer for the same money with the Miami Dolphins. He is currently in the top three among tight ends in catches (60), receiving yards (817) and touchdown receptions (seven). The Browns shouldn't have an issue giving Barnidge a contract like the one Cameron rejected based strictly on productivity, but he will be 31 years old next season. Barnidge is having a better season than Cameron's 2013 breakout campaign in which he had 80 receptions for 917 yards and seven touchdowns. He is on pace for 80 receptions, 1,089 yards and nine touchdowns.
Offensive Line
Richie Incognito, Buffalo Bills
- Contract Value: $1.45 million/1 year, $2.25 million maximum with incentives
- 2015 Compensation: $1.45 million
- Future Compensation: In contract year
Incognito is making the most of the opportunity Buffalo gave him after sitting out last season in the aftermath of repeatedly bullying former Miami Dolphins teammate Jonathan Martin in 2012 and 2013. He has been the NFL's best left guard this year. Incognito, 32, hasn't missed an offensive play this season, which puts him on track to earn $800,000 of playing-time incentives that top out at 80 percent. He should get the richest deal of his career, which is $4.3 million per year from the Dolphins in 2011. Incognito has too much baggage for the deal to approach the nearly $8 million per year 31-year-old Marshal Yanda recently received from the Baltimore Ravens on a four-year extension.
Kelechi Osemele, Baltimore Ravens
- Contract Value: $3,345,870/4 years ($836,458 per-year average)
- 2015 Compensation: $846,255
- Future Compensation: In contract year
The Ravens may have to let Osemele walk after making Yanda, who is five years older, the signing priority. Most teams don't have two high-priced guards. The five-year, $40 million contract, which includes $22.5 million in guarantees, Mike Iupati received from the Arizona Cardinals in free agency could be an important data point for Osemele.
Cordy Glenn, Buffalo Bills
- Contract Value: $4,865,180/4 years ($1,216,295 per-year average)
- 2015 Compensation: $1,053,434
- Future Compensation: In contract year
Left tackles in their prime are paid a premium, which was underscored by the preseason extensions Anthony Castonzo and Nate Solder received from the Colts and Patriots, respectively, averaging more than $10 million per year. Jared Veldheer's five-year, $35 million contract (worth up to $37.5 million through salary escalators) containing $17 million in guarantees signed in 2014 with the Arizona Cardinals is probably Glenn's salary floor on the open market.
Others: Joe Barksdale, San Diego Chargers ($1.095 million/1 year with $1 million in incentives); Mitchell Schwartz, Cleveland Browns ($5,170,084/4 years, contract year)
DEFENSE
Cornerback
Josh Norman, Carolina Panthers
- Contract Value: $3.181 million/4 years ($795,250 per-year average)
- 2015 Compensation: $1.542 million
- Future Compensation: In contract year
Nobody in a contract year has helped himself more than Norman. He turned heads with blanket coverage at the start of the season to earn the NFC's Defensive Player of the Month award for September. Sustaining that level of play has put Norman in the NFL Defensive Player of the Year conversation. It wouldn't be a surprise if he ended Darrelle Revis' reign as the NFL's highest-paid cornerback in the offseason by signing a deal averaging more than $14,024,212 per year with more than $40 million in guarantees.
Others: Janoris Jenkins, St. Louis Rams ($4,990,319/4 years, contract year)
Safety
Harrison Smith, Minnesota Vikings
- Contract Value: $12,416,546/5 years ($2,483,309 per-year average), includes option year
- 2015 Compensation: $1,363,437
- Future Compensation: $5.278 million in 2016 (option year)
Smith is a complete safety. He is equally adept at playing in the box or back in coverage. Extending his contract will be on Minnesota's offseason to-do list. One deal that has surely caught Smith's eye is that of Devin McCourty, who became the NFL's second-highest-paid safety by re-signing with the Patriots after rejecting bigger offers from other teams. His five-year, $47.5 million contract has $28.5 million in guarantees, which is the most ever in guarantees for a veteran safety deal.
Others: Kurt Coleman, Carolina Panthers ($2.8 million/2 years with maximum value of $3.9 million through incentives and salary escalators)
Linebacker
Von Miller, Denver Broncos
- Contract Value: $30,754,376/5 years ($6,150,875 per-year average), includes option year
- 2015 Compensation: $9.754 million (option year)
- Future Compensation: In contract year
The 2011 Defensive Rookie of the Year became the third fastest player in league history to 50 sacks (58 games) in September. Miller should be rooting for Osweiler to remain Denver's starting quarterback and play well. It could result in Denver overpaying Miller to eliminate a franchise tag dilemma. The three-time All-Pro could probably top Ndamukong Suh's six-year, $114.375 million deal with the Dolphins containing $59.955 million fully guaranteed if he hit the open market in the offseason.
Miller doesn't have to worry about the six-game suspension he served in 2013 for violating the NFL's substance abuse policy impacting his contract. He was dismissed from the league's drug program after staying clean for two years and has the same status as someone who never failed a drug test.
Dont'a Hightower, New England Patriots
- Contract Value: $15,475,002/5 years ($3.095 million per-year average), includes option year
- 2015 Compensation: $1,443,273
- Future Compensation: $7.751 million in 2016 (option year)
Hightower is everything Jerod Mayo used to be in New England's defense before injuries diminished his effectiveness. Mayo got a five-year, $48.5 million extension (included $27 million in guarantees) towards the end of the 2011 season. The Patriots are going to have to do better than that with Hightower since it will essentially be a five-year-old deal by the time his contract talks heat up.
Brandon Marshall, Denver Broncos
- Contract Value: $585,000/1 year
- 2015 Compensation: $585,000
- Future Compensation: 2016 restricted free agent
Marshall turned in a Pro Bowl-caliber 2014 season after being pressed into service because of an injury to Danny Trevathan. He has successfully shifted to inside linebacker in Denver's switch to a 3-4 defense under new defensive coordinator Wade Phillips. The 2012 fifth-round pick will be a restricted free agent after the season because he didn't earn a year of service when he landed on Denver's practice squad in 2013 once the Jacksonville Jaguars released him.
The Broncos could give him a second-round tender, which would be $2.522 million with a $153.4 million 2016 salary cap, to discourage other teams from signing him to an offer sheet. The $7.538 million average of the two unrestricted free agent years Vontaze Burfict gave up when he signed a three-year, $18.43 million extension with the Cincinnati Bengals in 2014 as an exclusive rights player could be an important salary benchmark for Marshall.
Defensive End
Muhammad Wilkerson, New York Jets
- Contract Value: $13.844 million/5 years ($2,768,800 per-year average), includes option year
- 2015 Compensation: $6.969 million (option year)
- Future Compensation: In contract year
The Jets unsuccessfully tried to sign to the best 3-4 defensive end not named J.J. Watt to a long-term deal before he ended negotiations at his self-imposed deadline of the start of the regular season. Marcell Dareus' recent six-year, $95.1 million extension (worth a maximum of $100.35 million through salary escalators) from the Bills and Wilkerson being on pace for a career-high 12 sacks won't make reaching an agreement any easier. Wilkerson's contract demands are likely to increase from the last round of negotiations. The top five defensive linemen contracts, average approximately $16.5 million per year, contain an average of $52.6 million in guarantees with six years as the average length.
It could be a choice between Wilkerson and 2013 Defensive Rookie of the Year Sheldon Richardson, if the Jets are comfortable the latter's off-field problems are behind him, since Leonard Williams, the sixth-overall pick in this year's draft, is as good as advertised. The Jets' surplus of quality defensive linemen and Wilkerson's contract demands could lead to a franchise player trade to a team willing to make him one of the highest-paid defensive linemen.
Fletcher Cox, Philadelphia Eagles
- Contract Value: $18,040,198 million/5 years ($3,608,040 per-year average), includes option year
- 2015 Compensation: $1,786,527
- Future Compensation: $7.799 million in 2016 (option year)
Cox should be on Philadelphia's radar screen for an offseason extension since he is one of the NFL's best 3-4 defensive ends. His best deal will come from waiting for a resolution with Wilkerson. This will allow him to benefit from the trickle-down effect, assuming Wilkerson signs for multiple years.
Others: Chandler Jones, New England Patriots ($15,972,502/5 years, includes option year); Michael Bennett, Seattle Seahawks ($28.5 million/4 years); Mike Daniels, Green Bay Packers ($3,282,584/4 years, contract year)
Defensive Tackle
Linval Joseph, Minnesota Vikings
- Contract Value: $31.25 million/5 years ($6.25 million per-year average)
- 2015 Compensation: $4 million
- Future Compensation: $5.75 million in 2016; $6.25 million in 2017; $6.25 million in 2018
Joseph has taken his game to a different level this season by becoming the NFL's premier run-stuffing interior lineman. He was named NFC Defensive Player of the Week for Week 9 after recording 10 tackles (three for loss), half a sack and two quarterback pressures against the St. Louis Rams. Unfortunately for Joseph, controlling the line of scrimmage doesn't have the same value as rushing the passer.
SPECIAL TEAMS
Kicker
Josh Brown, New York Giants
- Contract Value: $2.5 million/2 years ($1.25 million per-year average), $3 million maximum value with incentives
- 2015 Compensation: $1.25 million
- Future Compensation: In contract year
Brown is tied with Dan Bailey as the NFL's second-most-accurate field goal kicker this season with a 96.2 percent conversion rate despite the untimely miss during overtime of Week 13's contest against the Jets. The average yearly salary for kickers is approximately $1.85 million, according to NFLPA data. The going rate for a good kicker is the $3 million-per-year range.
Joel Corry is a former sports agent who helped found Premier Sports & Entertainment, a sports management firm that represents professional athletes and coaches. Before his tenure at Premier, Joel worked for Management Plus Enterprises, which represented Shaquille O'Neal, Hakeem Olajuwon and Ronnie Lott.
You can follow him on Twitter: @corryjoel | You can email him at jccorry@gmail.com
