Rookies will take big hit if NFL rookie salary cap OK’d

Associated Press

NEW YORK

The NFL wants to cut almost 60 percent of guaranteed pay for first-round draft picks, lock them in for five years and divert the savings to veterans’ salaries and benefits.

More than $525 million went to first-rounders in guaranteed payments in 2010. The league wants to decrease that figure by $300 million, according to documents obtained by The Associated Press.

The league’s offer would free a total of more than $1.2 billion over four years through 2015 — $37.5 million per team overall — and slow the growth rate of guaranteed payments to first-rounders, which the documents show increased by 233 percent from 2000-10.

Such quarterback busts as JaMarcus Russell ($32 million), Matt Leinart ($12.9 million), David Carr ($15 million) and Joey Harrington ($13.9 million) received huge guaranteed payments that totaled $367 million in the last 10 drafts.

Of course, Eli Manning ($24 million), Philip Rivers ($17.9 million) and Matt Ryan ($34.7 million) have not done too badly for their teams.

Guaranteed money paid to top 10 selections since 2000 reached nearly $2 billion.