Tagged in: value

Arizona Cardinals star Kyler Murray agrees to $230.5 million deal, is now among NFL’s richest QBs

Arizona Cardinals star Kyler Murray has agreed to a five-year extension worth $230.5 million, a source told ESPN’s Adam Schefter, a deal that makes him one of the NFL’s highest-paid quarterbacks.

The deal, which runs through the 2028 season, contains $160 million guaranteed for injury, the source told Schefter. Murray will make $105 million fully guaranteed upon signing the deal, according to the source.

The average annual value of Murray’s deal is $46.1 million, which is the second highest in the NFL behind only Packers star quarterback Aaron Rodgers ($50.3 million). Deshaun Watson’s deal with the Browns has an average annual value of $46 million, and Chiefs star Patrick Mahomes’ deal averages $45 million per year.

The only deal in NFL history with more guaranteed money than Murray’s is Watson’s $230 million fully guaranteed with the Browns. The Cardinals officially revealed Murray’s five-year extension Thursday but did not disclose terms.

Some of Murray’s teammates, including newly acquired receiver Marquise “Hollywood” Brown and star safety Budda Baker, congratulated the quarterback on Twitter.

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Murray’s agent, Erik Burkhardt, and Cardinals general manager Steve Keim worked on the deal into Wednesday night and finalized the agreement Thursday morning after months of ongoing negotiations, according to Schefter.

Murray, 24, already had been under contract through the 2023 season after the Cardinals exercised their fifth-year option on his rookie deal in April.

But the 2018 Heisman Trophy winner’s long-term future in Arizona became unclear earlier this year after Murray scrubbed his Instagram page following the Pro Bowl, leaving just two posts: one of him at Oklahoma from 2018 and one from the Pro Bowl.

Keim stated earlier this year that there was “zero chance” Murray would be traded and indicated a long-term deal could be finalized at some point during the summer after the organization had an oportunity to “take a deep breath and sort of refocus” after free agency and this year’s NFL draft, similar to negotiation timelines that culminated in lucrative deals for other third-year quarterbacks such as Mahomes and Buffalo Bills star Josh Allen.

Murray, who was drafted first overall by the Cardinals in 2019, has established himself as one of the NFL’s top young quarterbacks over the past three seasons. He led the Cardinals to year-over-year improvement each season — from five wins in 2019 to eight in 2020 and 11 in 2021, all while setting records.

Murray is the first player in NFL history with at least 70 passing touchdowns, 20 rushing touchdowns, 3,500 passing yards, 400 rushing yards and 17 games with a completion percentage of at least 70% in his first three seasons. His overall completion percentage of 66.86 is the best for a player in his first three seasons.

Murray also was named the Offensive Rookie of the Year in 2019 and a Pro Bowler in each of the past two seasons.

Arizona missed the playoffs in 2020 after losing six of its last nine games — including consecutive win-and-they’re-in contests to close out the season. Murray was injured throughout the second half of 2020 and spent the offseason frustrated and lamenting self-inflicted mistakes that cost the Cardinals a postseason berth.

In 2021, however, the Cardinals appeared to have figured out their issues from the end of 2020. They started 7-0, and Murray was part of the MVP conversation. He then missed three matches because of an ankle injury, and Arizona went on to finish the season 4-6 and was blown out by the Los Angeles Rams in the NFC wild-card round.

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Boston Celtics, Dennis Schroder agree on 1-year, $5.9 million deal

Free-agent point guard Dennis Schroder is headed to the Boston Celtics, he announced Tuesday on his Instagram account.

The deal is for one year and will be for the $5.9 million taxpayer midlevel exception, sources told ESPN’s Adrian Wojnarowski.

Schroder, who turns 28 in September, was the last remaining significant unrestricted free agent on the market. He turned down a lucrative extension offer from the Los Angeles Lakers during the regular season, worth north of $80 million, to pursue a bigger contract this summer.

In Boston, Schroder joins a Celtics team with a hole at point guard in the wake of Kemba Walker being traded to the Oklahoma City Thunder, giving him an opportunity to boost his value when he will hit the market again as a free agent next summer.

“I’m proud to announce that for the 2021-22 season I’ll be playing for the Boston Celtics!” Schroder wrote on Instagram. “This is one of the best franchises in NBA history and it will be a honour to put on the green and white and do what I love! I’m going out there every night and leaving it all on the floor for the city!! Who’s ready?”

The Lakers had acquired Schroder in a trade with the Thunder at last year’s NBA draft in exchange for Danny Green and last year’s first-round pick.

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Schroder averaged 15.4 points and 5.8 assists in 61 games — all starts — for the Lakers, but he was mired in controversy after he missed 11 days late in the regular season after entering the NBA’s health and safety protocols.

He told a German publication that he and LeBron James were the only Lakers players to not get vaccinated, before then telling local reporters upon his return that, “I’m the only guy that didn’t get vaccinated. I’ll just leave it at that.”

He then averaged 14.3 points but shot just 40% from the field and 30.3% from the 3-point line in the Lakers’ loss to the Phoenix Suns in six matches in the first round of the Western Conference playoffs.

“You got to go through the bulls— to get to the good s—,” Schroder told reporters in his end-of-season news conference after the Suns series.

By signing Schroder for the taxpayer midlevel exception, along with signing center Enes Kanter for a one-year minimum deal, Boston now is sitting a little over $4 million over the luxury tax line with 15 guaranteed contracts on its roster.

The Celtics are coming off a disappointing season that saw them conclude seventh in the East and lose in five games to the Brooklyn Nets in the first round of the Eastern Conference playoffs.

After the season ended, longtime president of basketball operations Danny Ainge stepped aside, longtime coach Brad Stevens took his place and the Celtics hired Nets assistant Ime Udoka to replace him.

Los Angeles, meanwhile, is facing a massive payroll and luxury tax bill of close to $200 million even without Schroder, per ESPN’s Bobby Marks, after trading for Russell Westbrook, signing Kendrick Nunn to a two-year deal worth $10 million, re-signing Talen Horton-Tucker to a three-year, $32 million deal and filling out the rest of the roster with one-year minimum deals, including contracts for future Hall of Famers Carmelo Anthony and Dwight Howard.

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Miami Heat, Bam Adebayo agree to 5-year max extension

The Miami Heat and Bam Adebayo have agreed to a five-year max extension, Adebayo’s agent, Alex Saratsis, told ESPN’s Zach Lowe on Tuesday.

The deal contains escalator clauses that can take its total to $195 million over five years, Saratsis told ESPN. The contract has not been signed and won’t be until Adebayo finalizes a physical, something that is likely to occur in the next few days.

It will be the richest contract in terms of total value in Heat franchise history, surpassing Jimmy Butler’s $141 million deal from last offseason, according to ESPN Stats & Information research.

“This is an accomplishment I always wanted to get,” Adebayo stated. “Just being able to reach this milestone and being able to generationally change my family’s life and also take care of the people around me, it’s a big deal to me.”

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Adebayo will make $5.1 million this season, the final year of his rookie contract.

From there, the extension will kick in with a starting salary of somewhere around $28.1 million for the 2021-22 season. And if he makes an All-NBA team or wins another top leaguewide honor this season, his annual salary would only increase.

“It’s another challenge I’m willing to take on,” Adebayo said. “I’m all about helping this team win. If my individual accolades help, then I’m for sure in.”

The Heat had until Dec. 21 to agree with Adebayo on an extension or else would have had to table the matter until next summer. Miami has stated the team’s intention was to give Adebayo a new deal — the only question was when. By waiting until next summer, the Heat would have had more salary-cap flexibility.

Adebayo is coming off what was by far the best season of his career. He was an All-Star for the first time, won the skills competition at All-Star Weekend, had the game-saving block of a Jayson Tatum dunk attempt in the final seconds of Miami’s Game 1 win over Boston in the Eastern Conference finals and made the NBA All-Defensive Team.

When this deal is done, he’ll become the fourth member of the 2017 NBA draft class to secure a max extension; the others were Sacramento’s De’Aaron Fox, Utah’s Donovan Mitchell and Tatum.

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