Show Me the Money
by Bill Glose, 2/1/00

Has this seemed like a pretty wacky year to anyone else? Preseason mags rated the team anywhere from #1 to #31, Michael Vick stunned the nation with his performances, not to mention scaring the bejeezus out of the Hokie faithful with his flip against JMU in the season opener. Slowly we climbed up the ladder and ended up in the National Title Game against perennial powerhouse Florida State. All in all, quite an exciting ride.

Everyone likes to talk about how we've arrived on the national scene and how we're here to stay. As Hokie fans know, but few others do, this was no overnight success but a steady improvement of the team. I, too, would like to think that the Hokies are 'here' to stay; with 'here' being a resting spot among the nation's elite programs. However, along with the spotlight comes the scrutiny of the nation, as was witnessed this year with reporters following the team's every breath and reporting every word uttered and every action performed. One other thing that comes with the territory of the top tier is the early loss of quality players to the NFL draft.

This is uncharted territory for Tech. The Hokies are used to hanging onto their talent for the full scholarship term, and getting the most out of the senior class. That is not the case any more. Ike Charlton mentioned earlier in the year that he was thinking about the draft, so not too many people were surprised when he declared, but Shyrone Stith's jump to the draft caught everyone by surprise. Charlton's departure will take a heavier toll on the Hokies than Stith's, but that is solely because of depth at their respective positions and no indicator of their comparative talent. I wish the best for both of them, and hope they have great NFL careers. However, I'm not convinced either of them are making a truly wise decision.

I've heard many arguments about the value of staying put for a senior season and earning a degree. I've even heard outcries that athletes that bolt early for the NFL are traitors to their school. Nothing could be farther from the truth. These athletes have been provided a free education at an excellent university. But, to say that they are the only one's who've gained from their 'free ride' would be ludicrous. The school makes millions of bucks from football - none of which goes into the player's pockets. The players need to make the decision that is best for them, and that has nothing to do with loyalty to the school. Think of Virginia Tech's position with conference alignment. The Atlantic-10 conference has been our home for Olympic sports while waiting for full conference membership. Now that the offer's been made, Tech is bolting for the greener pastures of the Big East. This is no slight to the A-10, but merely a wise business decision by VT. The same thinking applies for football players.

The NFL is a business. The athletes that play in the NFL are workers, and a college diploma is NOT a requirement for employment. I applaud every player who decides to stay put and earn his degree, but I don't feel any lack of respect for anyone who chooses to leave without it. Degrees & professional lifestyles aren't for everyone, and although it's a great opportunity, if someone doesn't really desire a degree, there is nothing to hold against him. Also, if they truly do wish to get their Bachelor's, they can always return to school after retiring from football. Football careers are very short lived. For the most part, one more year in college is one less year in the NFL, so I can understand anyone who wishes to make the most out of their earning potential in that short time span.

However, this is where I think some faulty judgement has come into play. If someone has NO chance of becoming a first or second round pick, then I think they would be wise to bolt early if the opportunity presents itself. But, if they can become a higher pick in the draft, then they are making a poor decision by leaving early. Third round picks and below earn close to the league minimum as a general rule.

The top five picks earn the lion's share of the money. Last year's #1 pick was Tim Couch, who signed for $48 million over 7 years and a $12.25 million signing bonus. There was very little drop-off in the top 5. For example, the #4 pick, Edgerrin James, signed for $49 million over 7 years and a $9.5 million bonus. The #5 pick, Ricky Williams, signed for $14.6 million over 8 years with an $8 million bonus, but he has an odd contract that contains incentives which could push his earnings to $68 million over that 8-year period. After the top five, the numbers drop off drastically. Terry Holt was picked #6, signing for $10 million over 5 years. Here's a comparison of player salaries according to draft position from the 1999 draft:

First Round

#1

Tim Couch

$48 million/7 yrs.

$6.85 million/yr.

#4

Edgerrin James

$49 million/7 yrs.

$7.0 million/yr.

#6

Terry Holt

$10 million/5 yrs.

$2 million/yr.

#10

Chris McAlister

$6.3 million/4 yrs.

$1.575 million/yr.

#15

Anthony McFarland

$6.03 million/5 yrs.

$1.206 million/yr.

#20

Ebenezer Ekuban

$5.6 million/5 yrs.

$1.12 million/yr.

#31

Al Wilson

$5.2 million/5 yrs.

$1.04 million/yr.

Second Round

#1

Kevin Johnson

$4.9 million/7 yrs.

$0.7 million/yr.

#15

Kevin Faulk

$3.1 million/5 yrs.

$0.62 million/yr.

#31

Lennie Friedman

$1.9 million/4 yrs.

$0.425 million/yr.

Third Round

#1

Daylon McCutcheon

$1.26 million/3 yrs.

$0.42 million/yr.

#34

Amos Zereoue

$1.06 million/3 yrs.

$0.353 million/yr.

Fourth Round

#1

Paul Miranda

$1.03 million/3 yrs.

$0.343 million/yr.

Fifth Round

#1

Cecil Collins

$860,000/3 yrs.

$0.287 million/yr.

Sixth Round

#1

Steve Johnson

$813,000/3 yrs.

$0.271 million/yr.

Seventh Round

#1

Madre Hill

$785,000/3 yrs.

$0.262 million/yr.

#42

James Finn

$771,000/3 yrs.

$0.257 million/yr.

If someone can be a sixth round pick this year, or a fourth round pick next year, his overall earning potential is higher if he starts playing this year when you consider he'll have one more year of earning in the NFL. Let's put a mythical player in that situation where he can go this year in the sixth round, or stay for another year and go in the fourth round next year. Using last year's figures as a basis, he could earn $813,000 over 3 years signing right away, or earn $1.03 million over 3 years if he stays for his senior season. Now, let's assume going early gets him one more year in the NFL, and that after he plays out his initial contract, he signs on for $500,000 a year. That's a fairly modest sum for NFL players, but it will serve to illustrate the point.

  • Earning potential leaving early: (0.271 x 3 years) + (4 years x 0.5) = $2.813 million
  • Earning potential staying for senior year: (0.343 x 3 years) + (3 years x 0.5) = $2.529 million

For the lower round draft picks, being paid for another year in the NFL equates to a larger net income. But, if waiting a year moves a player into the upper echelons of the draft, he has an opportunity to earn BIG bucks. Let's take a look at another mythical player who could go in the second round in this year's draft, or in the first round in next year's draft. I'll assume that the player signs for a 5 year contract in both cases, using the data for the #15 pick in round one and two, and I'll still give the player leaving early one extra year in the pros

  • Earning potential leaving early: (0.62 x 5 years) + (4 years x 1.0) = $7.1 million
  • Earning potential staying for senior year: (1.206 x 3 years) + (3 years x 1.0) = $9.03 million

The example I used was a fairly modest one, only using the #15 position in the draft. If a player can move up even higher by sticking around, he can earn a LOT more money. This is the reason I think Stith and Charlton could be making a mistake. Charlton hasn't come close to playing his best ball yet, and I would even venture so far as to say he had a subpar season this year. However, I think he's a playmaker that would have shined brightly in the 2000 year, giving him a good shot at a first round pick. Stith on the other hand, has played very well and has the potential to be a high draft pick. However, I think his chances are limited this year due to the high number of quality backs coming out of college. Thomas Jones, Ron Dayne, Jamal Lewis, J.R. Redmond, Shaun Alexander, Travis Prentice, Trung Canidate, Deuce McAlister, Ricky Williams, Travis Minor, etc... This is a tough group to go up against, and just like Charlton, I think Stith would have a much better chance at going in the first round if he waited for next year.

Although Vick will only be a sophomore next year, the Heisman hype is already swirling, and talk about his potential early departure will certainly follow. His choice should be even more clear cut than that of Stith and Charlton. Vick does have the potential to be a first round draft pick next year, but I don't think he has a shot at the top 5 until the following year. But, if he waits around, he will DEFINITELY be a top 5 pick. Using the previous example, Vick could earn a total of $10 million by leaving next year (#15 overall pick and 4 years playing after his initial 5 year contract). But, that is nowhere near the $50 million he could earn in just his initial contract for waiting around one more year.

Virginia Tech has moved up to the top of the football world, and this new territory has a new set of rules. Having top talent means having new considerations. One of those considerations should be educating the players about the draft. I'm ignorant of what the coaches mention to the players in this area, but I'm certain they do keep them enlightened. Some of the Tech players will drop out early, and some will stick around. All we can do as fans is have faith in the coaching staff to fill in the gaps left behind, and cheer the players as they venture out into the NFL. They may be wearing a different colored jersey in the pros, but they'll always be Hokies.

          

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