Raiders Set the Bar for an Expensive Free Agency

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The economy is in a downswing and everyone in the United States is feeling it, except the Oakland Raiders who decided to show they have a set of brass ones.

In the past week, the Raiders decided to open their vaults. First they signed their four-time Pro Bowl punter, Shane Lechler to a reported four-year, $12 million contract. Lechler, a fifth-round selection in the 2000 NFL draft, has now become the highest paid punter in the history of the NFL.

The Raiders decided they had more money to spend when they signed cornerback Nnamdi Asomugha to a reported three-year deal worth over $45 million, with almost two-thirds of it guaranteed.

What makes this contract even more perplexing are the reports that say the Raiders gave Asomugha an option in the final year of the deal where he will be paid either $16.875 million or the average of the top five quarterback salaries.

The deal bests the contract signed by defensive end Jared Allen in 2008 with the Minnesota Vikings. He received a six-year deal worth $72.36 million to become the highest paid defensive player in the NFL.

Though it is all well and good that the Raiders were able to sign these two free agents, they have set a precedent for the 2009 free agency class, especially since many felt the spending would be curtailed this off-season.

If Asomugha was able to command a deal of this magnitude, what will Albert Haynesworth, widely considered to be the cream of this year’s free agent crop, be able to get?

Albert Haynesworth

Haynesworth is the unquestioned leader of the Tennessee Titans top-ranked defense and the main reason behind their success in recent years. In 2008, Haynesworth set a career high with 8.5 sacks, 75 tackles and four forced fumbles.

Will any team be willing to spend $13 to $14 million per year on a player who has missed at least 2 games every season since his first year in the league?

Logic would dictate Haynesworth signing a contract that mirrors Allen’s deal but with the recent trends, there is a possibility that an owner hungry for a championship might pony up more money for Haynesworth.

One thing is for sure, since the Raiders opened up the flood gates for free agents, we can expect to see other contract signings that boggle the mind and break the bank.