Banner: Wentz extension is great for Eagles

Andrew Porter
June 10, 2019 - 9:44 am
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Late last week, the Philadelphia Eagles made it official, inking their franchise quarterback Carson Wentz to a new four-year extension worth up to $144 million, with a $107 million guaranteed. The extension tops Russell Wilson's for the largest amount of guaranteed money in NFL history. 

Related: McNabb: Great things ahead for Wentz, Eagles

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For a quarterback who has missed each of the last two postseason with different injuries (ACL, back), the question arose: Did the Eagles do the right thing? 

Former Eagles president Joe Banner explained why the answer is a slam dunk, YES. 

“If you’re rooting for the Eagles you should be very, very, very happy," Banner said on The Rich Eisen Show

“So, here’s the simple way to look at it, the $66 million in guaranteed at the time of signing at the deal—between this year and next year the Eagles already owed him 31 million dollars, which was essentially guaranteed. Not literally, but essentially—there’s no scenario. He could go out and tear his ACL tomorrow, there’s no scenario which he’s not making that 31 million dollars. So for an additional 35 million dollars—just think about that in today’s NFL—for an additional 35 million dollars, they control his rights for an extra four years. I mean that’s half of the guaranteed money Kahlil Mack got and I personally think this is perennial Pro Bowl, potentially Hall Of Fame quarterback, if he can stay healthy."

“I don’t think you can find anything where the downside was less and the upside was more than four years of his rights for a 35 million dollar guarantee. In worst case scenario, you put a dent in your future budget. In the best case scenario, you have a quarterback for six years at—in today’s market—very reasonable prices.”

Banner also explained Wentz's cap hit is not as daunting as it might originally seem, and will actually be very manageable for Howie Roseman and the front office going forward. 

“By doing the deal two years early, they put part of his cap money into the next two years. In the four new years he has, his cap will actually average significantly less than the 32 million dollars because they’re eating part of it now. So let’s just say they reduce that number, to say, effectively 26, 27 million dollar average for the four new years—if you take 26, 27 million dollars over what the cap will be three years from now, you’ll see that that’s actually an incredibly modest percentage and a far better position than almost anybody in the league will be in, that has a top quality quarterback.”