What Do Big Contracts For Sherman, Peterson Mean For Jimmy Smith?

Jul 24, 2014; Owings Mills, MD, USA; Baltimore Ravens cornerback Jimmy Smith (22) catches a ball over hs shoulder during practice at Under Armour Performance Center. Mandatory Credit: Tommy Gilligan-USA TODAY Sports

Now is definitely a good time to be a cornerback in the NFL, especially one with a lot of talent. Corners are emerging as the next “valuable” chess piece, mostly due to the popularity of passing in the modern day NFL. Big, physical press corners are all the rage as they can jam receivers at the line of scrimmage and disrupt their routes and timing. They have the size and ability to match up with #1 receivers and freakishly athletic tight ends.

And like any position that is in high demand, the best cornerbacks are being paid massive premiums for their services. This offseason alone, the Seattle Seahawk’s Richard Sherman became the highest paid corner in NFL history with a four year, $57.4 million dollar contract. An astounding $40 million is guaranteed, which blows away the previous record of $26 million present in Aqib Talib’s contract with the Broncos. The annual average is $14.35 million, besting Brandon Carr’s $10.02 million with the Chiefs.

Ozzie Newsome made it publicly known that Jimmy Smith was one of the players he was trying to extend this preseason, but Smith has expressed doubt that a deal will get done.

It only took a little less than two months to beat those historic numbers, however, when the Cardinals signed Patrick Peterson to five year, $70 million dollar contract extension with $48 million guaranteed. Peterson’s deal comes in slightly less than Sherman’s in regards to annual average at $14 million.

With teams playing contractual leap frog when it comes to locking up their elite cover corners, what does this mean for emerging talents like Jimmy Smith? Ozzie Newsome made it publicly known that Smith was one of the players he was trying to extend this preseason, but Smith has expressed doubt that a deal will get done. He even told reporters that he has two years left on his current deal, hinting that he would play out his contract if he isn’t satisfied with an offer.

And who can blame him? Despite his minor off field incident this offseason, Smith as done everything right. He had a quietly dominant year last season and is prime for a breakout this season. He is the same age as Richard Sherman (26) and two years older than Patrick Peterson (24). And all three boast similar size – Sherman is 6’3″ 195 lbs, Peterson is 6’1″ 219 lbs, and Smith is 6’2″ 209 lbs.