Guaranteed money (signing bonus) is pretty good if drafted in third round ($682,000) or fourth round ($300,000 to $500,000)
but drops pretty significantly down to seventh round ($52,000) and still further as undrafted free agent ($8,000).
How long did it take you to make $300,000 or more with your degree and what could you do with that money even if you didn't turn it into a multi million dollar contract by making the team.
Seems like a pretty good gamble if your family is very poor and you are being told that you should be a 3rd, 4th, or even 5th round draft pick. (Of course, one would have to recognize that taxes are going to take a big chunk, avoid the feeling they were rich, and spend it wisely.)
Found this article http://www.businessinsider.com/nfl-draft-contract-values-2016-4 about rookie contract values.
"The value of third-round contracts drops to $3.1 million, but take an even bigger hit in guaranteed value, with the average contract worth just $682,000 in guaranteed money.
Once a player falls past the third round, most draft picks will sign a 4-year deal in the $2.3-2.4 million range. The only major difference late in the draft is the signing bonus, ranging from $300,000-500,000 in the fourth round to slightly more than $50,000 in the seventh round."
Also this article http://overthecap.com/what-can-lael-collins-earn-as-an-undrafted-free-agent/ about undrafted free agent contract values.
"Every undrafted rookie is locked into signing a three year contract. The three year contract will contain the minimum Paragraph 5 salary in each year, which will equal payouts of $435,000 in 2015, $525,000 in 2016, and $615,000 in 2017. These are the same numbers as rookies drafted after the 3rd round and many of the players drafted in the third round, so it is not a major loss for any player who was not projected to be a 2nd round pick.
The UDFA’s are very limited in terms of signing bonus money. . . . each team can spend, in total, about $88,000 on all their undrafted rookies. That usually means a large number of players receiving signing bonuses that will not exceed $8,000. So that is a limiting factor for a player who is not drafted. The smallest signing bonus a 7th round pick will receive likely to be about $52,000. So that is a pretty big loss considering for many players the bonus is the only salary they will ever receive."
but drops pretty significantly down to seventh round ($52,000) and still further as undrafted free agent ($8,000).
How long did it take you to make $300,000 or more with your degree and what could you do with that money even if you didn't turn it into a multi million dollar contract by making the team.
Seems like a pretty good gamble if your family is very poor and you are being told that you should be a 3rd, 4th, or even 5th round draft pick. (Of course, one would have to recognize that taxes are going to take a big chunk, avoid the feeling they were rich, and spend it wisely.)
Found this article http://www.businessinsider.com/nfl-draft-contract-values-2016-4 about rookie contract values.
"The value of third-round contracts drops to $3.1 million, but take an even bigger hit in guaranteed value, with the average contract worth just $682,000 in guaranteed money.
Once a player falls past the third round, most draft picks will sign a 4-year deal in the $2.3-2.4 million range. The only major difference late in the draft is the signing bonus, ranging from $300,000-500,000 in the fourth round to slightly more than $50,000 in the seventh round."
Also this article http://overthecap.com/what-can-lael-collins-earn-as-an-undrafted-free-agent/ about undrafted free agent contract values.
"Every undrafted rookie is locked into signing a three year contract. The three year contract will contain the minimum Paragraph 5 salary in each year, which will equal payouts of $435,000 in 2015, $525,000 in 2016, and $615,000 in 2017. These are the same numbers as rookies drafted after the 3rd round and many of the players drafted in the third round, so it is not a major loss for any player who was not projected to be a 2nd round pick.
The UDFA’s are very limited in terms of signing bonus money. . . . each team can spend, in total, about $88,000 on all their undrafted rookies. That usually means a large number of players receiving signing bonuses that will not exceed $8,000. So that is a limiting factor for a player who is not drafted. The smallest signing bonus a 7th round pick will receive likely to be about $52,000. So that is a pretty big loss considering for many players the bonus is the only salary they will ever receive."
