Seattle Forks Over Top Dollar For WRs

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Good morning, everybody. Welcome to another episode of Hot Blogger Mornings. I am Brian

Nemhazer. You can find me and all the things we do here on YouTube, TikTok, Instagram,

at Hot Blogger. We appreciate your likes, your follows, your subscriptions. All of those things

are really, really appreciated. If you want the audio version of the podcast, you can get that

Apple podcast spot. If I really, anywhere you get your audio pods, we also love your five-star

reviews. Thank you so much for the people that take the time to do that. It really does make a

difference. If you want ad-free audio, which I know a lot of you do, you can get that at patreon.com

slash Hot Blogger, which also gets you access to the Discord server, where there's a lot of great

conversations going on all the time. I just have to say, today's a good day for a lot of reasons.

Even though it is pouring rain outside, I'm only a few days away from head and down to Arizona

to visit my good pal, Evan Hill, but also to go to the league meeting and chop it up with

other folks in the media and John Schneider and Mike McDonald and talk about all that.

But there's something else that happened that I got to share because it just happened this

morning and I get to be excited about it. Look who got a friend today. Look who got a friend today.

We got the old 2013 Lombardi on the left with the old 2013 confetti below it and then we've got

the brand new 2025 Lombardi on the right, complete with a nice picture of me and the reflection,

which I probably should have removed, but it was too lazy. So you get a little bonus there. But

how great do those two look together, right? How just fantastic do those two look together?

And I love putting it up there, not only because it's fun to look at, but I just love that there's

going to be 49ers fans and Rams fans that see that and are just a little bit.

Their day's a little bit worse, a little bit worse, maybe a lot worse, but just a little bit worse.

And I love contributing to their misery wherever is possible. So, yes, hopefully soon,

maybe as soon as this next year, the Seahawks are going to force me to get a bigger trophy case

because cannot fit more than two in that particular case. We're going to have to upgrade, hopefully

pretty soon. So I got a fun stuff for you today. In fact, I think our first ever

visit from Evan Hill for Hawkblogger Mornings during the week. And Evan was, if you don't know,

like everyone knows Evan for his hot takes and his food takes and all that kind of stuff.

But Evan really came into some of his biggest time at Field Goals where he started with Danny

Kelly and those guys in terms of contract and cap. And so he's done a lot of work and

understanding contract and cap. And in fact, he was like in conversation with the Seahawks for a while

and you know, impressed them with what he knew about contracts and cap. But he was so excited

yesterday when he saw this JSN contract. And I was like, he's like, we got to do a show on it.

I was like, you want to do a show just on the contract. He's like, dude, trust me. Like,

there's a lot to talk about with this contract. And so last night, Evan and I got together

and talked about it. I recorded that. I'm going to play that for you in a little bit. And sure as

shit, we talked about the contract for a long time. And I could have talked longer about it.

So we're going to go into that. But part of why this is, I think you'll hear in the conversation,

why this is a notable moment, not just because you signed JSN, not just because he becomes,

you know, the highest APY receiver in the NFL. But there's the way that this contract was structured

that says a lot about what the Seahawks are willing to do for their top players and especially for

a player like JSN. And there's also some really interesting implications about how the Seahawks

are managing the cost of their receiver room over a number of different years. So Evan will talk

about that. But if you look right now at the receiver room for the Seahawks, it was not just the

JSN day yesterday. Almost as soon as I finished the show yesterday, the Seahawks did what I didn't

think they would do. They matched the offer sheet for Jake Bobo. And so Jake Bobo is back

with the Seahawks for the next two years. And it's not super cheap. I mean, it cost more than

the right of first refusal tender, at least in terms of guarantees. And the Seahawks kind of paid

top dollar for a number four or five receiver, depending on how you think about it. And

I look at the Jake Bobo signing and I put this up on like a short and real across TikTok and

Instagram and YouTube yesterday. So some of you might have already seen this. But I think the main

reason that I can understand why the Seahawks would match that offer sheet for Jake Bobo is because

they are looking not just at this year, but next year. And Cooper Cup has kind of defined the

quote power slot role. That's a term that I first heard from Matt Harmon, a perception perception,

others certainly use it. But it's this notion of not like it used to be slot receivers with

these little scat back, you know, move around really fast, you know, quickness guys.

But Cooper Cup is not that Cooper Cup is a great route runner, but he's also one of the best

blocking receivers in the NFL. And so having this almost tight end level blocking with the ability

to run great routes became kind of this power slot role. And I think the Seahawks see Jake Bobo is

maybe their next power slot and really understanding that role from Cooper Cup. He has been under

Cooper's wing since really Cooper Cup joined the Seahawks last year. They trained together, they

worked out together, all that stuff. And so they might see an emerging pretty significant role

for Jake Bobo. Maybe not as much this year, but the following year is a possibility. I also just

think they love Jake Bobo. They respect him. I think they want him in the locker room. I think

they want him as part of this team. And they paid a pretty hefty price to keep him. So that was a

surprise to me. And as I've told you before, I love being wrong. I love surprises because there's

you're only going to learn when things don't go as you expect. If everything happens the way you

expect it to go, life's very boring. And you're really not learning anything. So I am really curious

like to figure out a little bit more about that. I'm also when I talk to Jake the next time, I am

going to be a little curious. Like was part of him and his fiance. I can't remember if they've

already been married, but I think they're still. Now, finding a doctor is a little less challenging.

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Still engaged, but in any event,

were they kind of dreaming about Florida beaches for a minute?

Were they kind of hoping the Seahawks didn't match that offer sheet?

I'm not going to ask Jake that on air.

But I am curious if part of him was maybe disappointed that the Seahawks matched?

I don't know.

You just have to see it from the player perspective,

where the guy had two catches last year was barely targeted.

And I think he believes he has a lot more to offer than that.

So I do feel for Jake Bobo in that sense.

But in the other sense, he just got a big payday.

So congratulations to him.

All in all, where does that leave the Seahawks receiver room?

Well, this is a little bit flawed.

And I will just say,

Spotrack is always a little bit flawed.

But as of right now, the Seahawks have the number one

most expensive wide receiver room in the NFL

by average annual value of the contract.

83 million dollars.

83 million dollars.

That position, the next closest is the Cincinnati Bengals at 77.

So the Seahawks, excuse me, the Seahawks clear that might quite a bit.

After the Bengals, it's the Cowboys at 71.

So you're talking about a pretty big spread pretty quickly

when you're looking at this receiver.

Number four is the Eagles at 67.

So you go from 83 to 67 and four or three teams, right?

So it's a it's a it's a big number.

It's a big number.

And I think a lot of folks, Jeff went on a rant about this before.

There's been folks that are like, oh man,

John Schneider's so cheap.

John Schneider's just never been cheap.

John Schneider has specific values that he associates with specific players

at specific positions and he sticks to those evaluations.

In this case, there was nothing keeping him from spending the money that he did on JSN.

So with that, I wanted to play for you guys this conversation that I had with Evan Hill.

This is from last night.

So for folks that come in in the middle of this conversation and they're wondering why we're

not responding necessarily to questions, it's because this is pre-recorded.

But in any event, this is a conversation with Evan Hill about

about this receiver room and about this JSN contract and why it's so big.

So here we go.

So we get to talk with Mr. Evan Hill this morning.

I'm looking forward to catching up.

It's been a while, my friend.

I hope you're enjoying the offseason house life.

It is so well.

So is this technically a version of Hawk Blogger Mornings?

It is.

So the comments of people saying, please God, do not include Evan Hill in Hawk Blogger Mornings.

They're going to be very upset this morning.

They're going to be very...

Those comments don't exist.

I have not seen those comments.

If they do exist, they're outside.

You know, Jeff did his maiden voyage last week doing his two solo shows.

Did you watch any of those?

I watched a little bit of it.

It's very funny to see him do like a solo show.

He gets into the groove of it and it's just funny to watch him do it.

I think over time he could.

Is the plan to make him do that like more consistently?

I'm curious.

I didn't make him do anything.

No, I mean, honestly, any of you guys can do shows when you want.

I assume most of you are like, I'll do the most minimum amount of shows I can do,

but I think I wanted to set up a show of you and Grant Cohen, just the two of you.

I think I would enjoy.

I would tune into that and just stand out of the way.

Grant is one of my favorite reporters, the National Football League.

He's a stud.

But I'm curious on the Jeff thing.

Was it to get a round of golf in?

Is that what you were doing?

Oh, I was on vacation.

Yeah, I wasn't going to do anything.

So it was just going to be dead air.

Like, nothing was going to go on.

And I just asked anybody in the crew that wanted to do a show.

They're welcome to do one.

There was a lot of votes in the crew for you to do a solo show,

but you didn't respond.

So I assumed that meant you were officially off season mode.

Was this in the Twitter chat?

Yes.

OK, I missed it.

Yeah, my fault.

No, not a fault.

Not a fault.

But we will, I think it would be fun to see

what an Evan show would look like at some point.

I mean, I've done a few though, right?

Like way back like OG, Real Hawk Talk, like 2019, 2020, 2021.

There were absolutely like post game shows that post game.

Yeah, yeah, I did occasionally.

I don't know if I did it alone.

I was often not part of the post game shows,

but, but like, it's kind of morphed over the years.

But none of this is what we were scheduled to talk about.

Yesterday, Jackson Smith and Jigba

was reported to agree to a deal with the Seahawks,

a massive extension.

And normally when you get those,

the news is that the guy signed the contract.

And the news is that the guy signs

for the largest APY average per year

of any wide receiver in the NFL.

One of the top APY's for any non-quarterback.

In the end, if all of those things are news,

we can talk about that.

But the actual contract itself is kind of news this time, Evan.

There's a lot of questions.

What does this do to the Seahawks cap situation?

What does it look like?

What's different about this contract?

So we're going to get into it because you're our cap guy.

You're not just a hot take guy.

You are also many other things,

including a frequent winner of our prediction show.

So when you saw the details of this contract,

I'd love to know from where do your eyes go first

when a contract like this gets signed?

And what did you see when you looked?

Yeah, so first of all, I was pretty shocked

because if you've gotten accustomed to how NFL reporters

like release these numbers,

typically what we've all gotten accustomed to

is they'll release some earth shattering numbers.

And then we'll get the actual numbers in like a couple of days.

And then it's like not as impressive.

And it's really just kind of like puff money

to make the agent look good.

The player feel good about himself.

Of course, hopefully you got a good deal.

But like it's typically exaggerated

to make all sides look very positive.

This deal felt not just positive on the onset,

but if you actually dig into the numbers

and we will hear in a second,

I actually think it's better behind the curtain for JSN

than it is like on the surface high level reported figures

of 42 and a half million dollars a year.

APY is I think what it came in at over an APY basis.

But like, you know, where my head goes immediately

when I see these deals is like, okay.

So cash flow structures like really, really important

because if you're like an NFL player,

you're not thinking in terms of what's my cap number this year.

Well, you're not, you're not thinking like,

oh, I'm at 11.5 billion dollars this year

because there's a big difference between your cap number,

your cap number and what your cash flow figure is, right?

So when do you get paid?

How much are you getting paid?

Isn't fully guaranteed?

When does the paycheck hit my bank account?

Like what is the running cash flow of my contract?

So how much am I making when I sign the contract?

How much am I making in what we call year zero

in the NFL world?

That's kind of a term coined by the over the cab team.

Year zero is the current year of the contract, right?

So it would be 2026 for JSN.

And then what does that cash flow look like,

you know, over over the years?

How does that stack?

How does it hit my bank account, you know,

is it paid lump sum?

Is it earned over, you know, roster bonuses,

per game bonuses?

Like there's all these things to think about.

So I want to just sort of like,

dive into the details here real quick,

but I want to give like a quick shout out

to Excel Sports Management.

And Joel Segal, I think is how you say his last name,

Ben Renzan, they are the negotiators representation for JS.

And I think they totally killed these negotiating.

They crushed it.

I think they crushed it.

I think they completely reset the receiver market.

And when we pull back the current year in a second,

I think it's going to change the receiver landscape

for, you know, top five guys type of emerging young talent

that all pros sort of category.

This is a big, big change.

So kudos to those guys on the representation side.

So officially the deal came in

when it was reported at four years,

168.6 million dollar extension.

So a couple of just quick facts here,

something to keep in mind.

So JSN was under contract on his pre-existing rookie deal.

His cap number for 2026 under the old terms.

So the old terms pre-extension was $2.7 million for 2026.

Is 2027 fifth year option fully guaranteed lump sum

the CEOx had exercised it over the weekend.

I think it was March 21st or something like that.

That was going to be 23.85 mil on the 2027 books,

lump sum hit.

So that all changes with this new deal.

So I just want to.

That applies you there for a second.

I don't want to interrupt your flow,

but like just some basics.

Yeah.

So when they exercised that option,

50 year option.

Yeah.

Was that essentially like they already had him under contract

or did he's like, okay, so that was already an extension.

And then this, this additional extension,

I've heard people say, okay,

it's a four year extension beyond 2020 what,

the fifth year option was for 2027.

So is the extension starting in 2028?

Yeah, so great question.

The extension does start in 2028.

So it's on top of the 2026 and 2027 contract years.

Unlike a franchise tag, Brian,

the fifth year option, a team can just exercise.

I actually don't even think JSN like technically needs

to like sign it for it to be valid, right?

Like, of course, you may have to sign it before,

like it actually plays,

but like the team has him under club control

with a fifth year option.

Don't quote me on that, but I'm pretty sure about it.

So it's, so if that's the case,

then when you're like, and you're about to get into this,

that's why I want to make sure I understood

and other people do.

You're all saying that the extension really starts in 2028,

but that by signing it, it affects 2026 and 2027.

Why is that?

Great question.

I love these cute up questions.

This is so wonderful.

So we talked about the different ways

players can get paid, right?

So there's a couple different components

of a player contract that make up that year's cap hit.

So the most obvious one is base salary.

So take a player's base salary.

You divide it by the amount of games

or the total amount of weeks they get paid

on a buy week as well.

So how many games do we have now?

Is it 18 games?

17 games.

18 games with a buy or 18 weeks with a buy week, right?

So you take their base salary.

Let's just pretend it's $5 million, whatever it is.

Actually, let's take the JSN number.

So the JSN figure for 2026, his base salary,

it's actually super low.

It's $1.25 million.

$1.25 million divided by 18 games.

That is his per week base salary, pre taxes, obviously.

There's another component here that makes up

why it impacts the 2026 league year

and it's called a signing bonus.

So basically, it's pretty self-explanatory.

Teams basically pay players upfront, lump sum

in 99% of cases, a signing bonus to sign the contract.

So Jackson Smith and Jigba, signs the contract.

I think his signing bonus was $35 million, is that right?

$35 million reported.

So his signing bonus hits his bank account,

$35 million, pre tax.

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Like immediately, as soon as he signs the contract.

But from a cat perspective,

the Seahawks do not take on $35 million,

like this year against the cap.

A signing bonus is pro-rated

over a max of five years on a deal, okay?

So it's $7 million,

if my 7, 14, 21, 28, 35, yes, I can do basic math.

It's $7 million a year,

pro-rated against the salary cap per year.

Again, it's a max of five years.

We're gonna get into something in a second.

Here called an option bonus.

The Seahawks actually use two option bonuses in this contract,

which is super interesting.

We'll get into in a second, but before we move on,

I just want you to think of an option bonus

as a delayed signing bonus.

That's the way it works.

So it's a signing bonus, but it triggers in 99% of situations.

It's almost always fully guaranteed

when a player signs it.

It triggers whenever they set it to trigger

later on in the contract on a go-forward basis.

So let's rewind for one second.

We talked about his base salary,

$1.25 million base salary.

He has a $7 million pro-rated signing bonus for this year, right?

So for 2026, first of five years,

he has left over remaining signing bonus from his rookie deal.

It's like $1.87 million.

That does not come off the cap.

Remember, so he has like $8.7 million in signing bonus

as being accounted against the cap.

Plus the $1.25 million base salary

that we just talked about.

He has a $250,000 workout bonus

that just hits in the off season.

And that totals $10.3 million as a cap hit.

In 2026.

Now, I know this is everybody's first question.

What is his cap hit this year compared to

what it was on the previous deal, right?

So his cap hit is raising by about $6 million, I believe,

ish, 6.9 million, whatever around that mark for 2026.

But for 2027, remember that 50 year option

that we talked about and shut me up if this isn't making sense.

But that 50 year option, the downside of those 50 year options

is they're fully guaranteed love sum all base salary.

You can't pro rate the signing bonus, right?

Which is the lump sum cash upfront for a player.

They're not cap friendly 50 year options, frankly.

So they're typically placeholders

till an extension is done.

That's exactly what happened in this situation.

So his cap hit for 2027 is going down

from what was $23.85 million on that fifth year option

to 15.63 million in 2027.

So he's actually, you know, they're actually saving

$89 million against the cap in 2027.

Fun fact, I share this with you guys in our chat

because I was looking at some of their roster construction

and how they've layered these contracts.

Cooper Cups.

So Cooper Cups, his cap hit this year in 2026.

I think it, what did I say was like 17 million

or something like that.

His cap hit this year, Cooper Cups cap hit is higher

than JSN's cap hit for either 2026 or 2027.

Think about that.

Cooper Cups most likely is not going to be a CEOC.

At least on his pre-existing contract in 2027.

So he's going to be off the books.

Rashid Shaheed will be in his second year of his deal.

But basically, before JSN has a real material cap number,

that's 32.9 million in 2028.

Rashid will be in the final year of his deal

because he signed a three year deal with the CEOC.

Rashid might not even be playing on that third year number.

He most likely won't be actually.

If he does well here, if he's successful,

he might be extended before that.

So before JSN even has a big number,

a big cap number over what, $15.6 million.

The other two receivers on this team

are currently making the sizeable amount of money

will not be making similar cap hits for those years.

So there's some staggering that the Seahawks are doing

in terms of these receiver contracts.

Because when you look at total average annual value

of how much money Seahawks are playing,

paying receivers, it's a lot of freaking money.

Well, we're going to get to that in a second.

I mean, that is also remarkable.

But to your point, Rashid Shaheed just signed a big deal

himself, his cap number for this year is $7 million.

JSN is, as you said, $10.3 million.

Cooper Cups is $17.5 million this year.

So just for people that don't follow all the nitty gritty,

from a cap perspective, Cooper Cups is counting significantly

more than double what Rashid Shaheed is on the cap.

Cash flow is a little different.

And one of the things that was interesting, Evan,

as you tell me, the staggering is really important

in terms of how the puzzle pieces fit together.

But I had done some research on percentage,

like to figure out the signing bonus,

because that wasn't reported initially

to kind of predict what it would be.

And if you look at some recent contracts,

like the Nick Bosa contract, that was for $170 million,

the Justin Jefferson contract was $140 million,

CDLAM $136 million, AJ Brown $96 million.

Anyway, in a lot of cases, the signing bonus

was like 30% of the total contract value.

And it would have been like, the prediction would have been

$45 to $50 million signing bonus for JSN.

So the fact that it's lower, it seems to me

that that's where these option bonuses come into play

where the team's like, okay, we don't want to take

that whole thing on right now.

So we're going to kick the can down the road

and we're going to assume that the cap's going to go up

and we're going to take more of that hit later.

Is that correct?

You are right, but there's a second thing I would leverage here

and just say to counteract the signing bonus component.

So he has two option bonus is later in his deal

just to go over that real quick.

So his second, his first option bonus,

I believe is 1824.

I think it's, is it another, oh my God,

is it another 30 million?

It's another $30 million option bonus.

So in 2027, holy crap.

I'm just looking at this contract

for the second or third time today.

So in 2027, JSN gets another signing bonus,

it's called an option bonus,

but it functions the same way for $30 million.

Pretax hits his bank account,

but remember that $30 million operates like a signing bonus again.

So on a go forward basis,

I believe it's going to be $6 million a year divided by,

or 30 million divided by five years,

which is $6 million a year, right?

So pro rated evenly over a max of five years

is how a signing bonus hits the cap.

So he gets a, remember, he gets a second signing bonus,

his first option bonus, $30 million in 2027.

That's crazy.

He has a second final signing bonus.

I've never seen this, he walks through this.

This is crazy.

I believe it's $10 million in 2029.

So there's like three signing bonuses

that are stacking up here.

And what this does functionally on a practical level

is it makes it actually really hard to cut them.

Because when you cut a player,

what happens is depending on when you cut him,

the signing bonus,

remember the remaining signing bonus

has pro rated over the cap in future years,

it immediately, typically accelerates.

Which accelerates, yeah.

Against that year, if you cut him as dead money.

So it makes it prohibitively expensive to cut a player.

It'll be super expensive.

You know, it'll be more expensive

to have him not on the roster materially

and have him on the roster.

When looking at this contract,

this is what something I want people to remember.

Assuming all goes well and assuming nothing crazy

off the field, he's a wonderful guy.

Like I don't anticipate any issues at all.

And by the way, from a receiver perspective,

I love how humble he is.

Like this couldn't happen to a better person, a better player.

I don't think you can even think about cutting him till 2030.

And that's his, that's his, you know, going to age 29.

See, yeah.

So, I mean, this deal basically,

there's a void year at the end,

one void year at 2032.

That will be his age 30 year.

So basically, real quick, real quick.

That is estimated by over the cap.

That's not official yet.

It's not official.

I don't know how many void years yet.

But okay, okay.

Well, so the point being that the real money

in this stops after 2031,

and that's his age 29 year.

So, this is kind of a,

I wouldn't call it a lifetime contract for JSN,

but it is certainly buying the prime of his career.

And I think a little bit,

buying a little bit of his third contract.

It's a little bit like the Seahawks are saying,

we are betting on you enough

that we are going to have a long enough contract

that you're really probably not gonna get

as big of a third contract

as if we let you out at age 28, right?

Age 30 is very different for receivers.

So, it feels like the Seahawks had to pay a premium

to get that extra length of time with JSN.

100% not only did they reset the market,

I think JSN Fitzgerald from over the cap

made a really good argument for this being close

to a 10% increase premium-wise

in terms of resetting the wide receiver market.

I'd be totally remiss if I don't go through the cash flow

for a second here because this is crazy.

These are crazy figures.

This is the part where it's gonna blow your mind, right?

So, when you think about this,

like try to think about how to articulate this after a long

so your cash flow that year is like how much money

did I make that year, right?

So, if I made like $100 this year

and then I make $100 next year,

it's $200 by then if you're too right

to say the obvious out loud for people in the audience.

I want to compare this against

some major wide receiver contracts.

JSN in year zero, which is,

remember the current year, 2026,

his new money earned is 42.56 million.

The next closest receiver is CDLAM at 21.15 million.

It's more than double in terms of a cash flow perspective

what JSN is setting or receiving in year zero, right?

Garrett Wilson 18 million,

Justin Jefferson 18.3, Jamar Chase 19.35.

So, 25% of JSN's contract is earned

from like cash perspective,

not a cash perspective, but a cash perspective in year zero.

That's insane, insane.

Like, I forget there.

What would you do if you got $42.5 million tomorrow?

I would move you to Scottsdale, Arizona.

I'm just kidding.

I'd buy you half a house.

I'm just kidding.

So, in year one, so really like,

remember it's like two years,

year one, which is 2027,

he will have had a running cash flow total of 62.5 million.

Next closest, Jamar Chase 53.1,

Justin Jefferson 50.2, CDLAM 49 million,

excuse me, Garrett Wilson 42.5, insane.

So, he's still leading the pack by a very, very wide margin, right?

That's about a 17 and a half percent growth

in cash flow over the next best player.

That's insane, right?

Year, so by year three, right?

So, this is over the cap as this wrong,

but basically in year two, new money,

but three functional years, right, with year zero,

he will have earned $126.8 million

by the through the 2028 season.

That is 75.2% of his contract.

The next closest is Justin Jefferson,

or is Jamar Chase, apologies.

At one point, 116 million is Justin Jefferson next

at 106, CDLAM 104, and the Garrett Wilson 97.5.

So, in terms of like the first three years of his deal,

he's averaging $42.3 million a year in cash flow.

Averaging, $42.3 million.

The next closest in those first three years,

it was Jamar Chase at $38.8 million.

That's an increase of about 8.6% that Jason Fitzgerald

rightly quotes out on over the cap.

So, from like a cash flow perspective,

and what those players are really making in the first three years,

it's nearly a 10% increase in the receiver market.

The Seahawks wanted JSN, they value JSN,

and they paid JSN.

This is a contract like,

it's been a long time since we've seen Seattle do something

like this.

The closest thing I can think of is like Russell Wilson

kind of reset the market, you know.

It's been probably like a decade since we've seen something

like this.

Maybe we'll see it again in a little bit with Devon

whether it's been, because I know some,

you know, I imagine something will be coming down the pipe there,

but just to summarize, like cash flows records,

sets major, major, you know,

he resets the market in major ways,

nearly at a 10%, you know, sort of rate.

His cap number does increase by about,

I think it was $6 million in 2026.

2027, his number, his cap number goes down by,

you know, roughly 8 million.

His average cash flow over over the first three years,

like we just mentioned around $42.3 million.

And then the way they structured these option bonuses,

like this dude is going to be making some serious cash

and I don't think he's cut a bull till 2030.

So that's, that's my overview of the JSN.

This is fantastic.

This is fantastic.

I mean, I'm looking at over the cap right now

and it's kind of, I have to admit,

as someone who's not a big fan of paying receivers,

it is cool to see a see-hawk at the top of the list.

There's something cool about that for whatever reason

and specifically JSN, I think he's earned it.

But as I look at these names,

Jackson Smith and Jigma, Jamar Chase,

Justin Jefferson, C.D. Lam, D.K. Metcalf,

Garrett Wilson, AJ Brown, I'm going to draw the same brown

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Yeah, age-wise.

JSN 24, Jamar Chase, 26, Justin Jefferson, 27,

C.D. Lam, 27, D.K. Metcalf, 29.

Garrett Wilson, 26, AJ Brown, 29.

I'm on roster at Brown, 27.

You don't get to another 24-year-old receiver

on this list or younger until you get to Travis Hunter,

who was a rookie last year with the Jags,

making 11 and a half million, way, way down the list.

So this is also just notable in that JSN

came into the league as a 21-year-old.

And by age 23 was the offensive player of the year.

And I went over it on the show yesterday

that he did things, he's done things in terms

of receiving yards and receptions

that no other player has done in the first three years

of their career before hitting the age of 24

other than Justin Jefferson.

Yeah.

So he's earned it to your point, Evan.

He's been humble.

He's done everything the team has asked of him.

And if you're going to reset a market for a guy,

he's probably the guy you got to do it for.

And hopefully it messes with the Rams

and Pukin' Akku a little bit.

I'm so glad you mentioned that

because that is like the highlight of this entire thing

is like, if you remember, like Pukin' does not have

a fifth year option, right?

Like I forget which round he was drafted in.

But was it the fifth round?

Yeah.

Oh my gosh, that annoys me.

But you know what I mean?

Like Pukin, let me put it this way.

If I'm Pukin' Akku, I'm not setting foot

on the field this year without a new contract.

There's no way I'm taking that risk.

There's no way.

They can pay me out.

So the only thing I was going to say is like,

JSN, have a March 23rd, 2026

because you just reset the receiver market.

You earned it.

I think the guy's phenomenal.

I love his personality.

I love the player.

Like this couldn't happen to a more deserving guy.

But there's one person who's probably happier than him today

and it's Pukin' Akku.

Because...

Like I was saying, the agents.

Well, them too, them too.

But it's going to be so interesting

to see what Pukin' comes in at

because I think people are saying

like he might barely edge out JSN, like...

I could see that.

I would make that case if I were him.

No, I think it might go higher.

I think it might be a few million higher.

I could be talking wrong.

But there's like, there's egos.

I feel like at least on Pukin' side.

So it's a wonderful deal for this in the box.

Think about how Pukin' has shown up

in the last 12 months versus how JSN has shown up.

And like, I mean, maybe JSN will get a new cowboy hat.

Maybe he'll get some new post game outfits.

But I'm not really that worried about JSN showing up

on some streamer doing some anti-Semitic crap.

Like, that's just not who he is.

He's got a really good head on his shoulders.

Like, it's just, when you look at the receiver landscape,

there's just, it can come with bad vibes.

Let's just be honest.

Yeah, it definitely can.

Well, Jeno Smith is more of a,

not saying Jeno Smith is bad vibes,

but Jeno Smith has more of a receiver personality

than like JSN does.

You know what I mean?

Yeah.

It's just, it's rare to come across a personality

like this at such a valuable position.

So, I'm just thrilled for him.

I'm thrilled for the team, but I'll say this.

Kudos to his agents.

They did a masterful job.

Yeah, yeah.

Well said.

Last thing, then we'll let you go.

So the other thing I noticed when I was looking

at the ride receiver contracts on over the cap

is JSN's number one.

And then Rashid Jihid and Cooper Cup

are right next to each other,

like 29 and 30 on the list of AP by APY.

So JSN is 42 million per year.

Then Rashid Jihid is 17

and then Cooper Cup is 15.

Again, this is APY, not CapHits,

which we already went over.

And then you scroll down and you don't have to go that far

to get to JIG Bobo who just signed like his restricted

for agent matched his term sheet.

So his, his number is three,

well, right now it says three and a half.

I think it's going to be different than that.

But, what did, what did the Jack sign him for?

Because I did not see the contract.

So the Jack signed him for two years.

And I think, let me pull it up real quick.

I'm so curious because I'll be honest with you.

I was surprised to see the Ceeox match it.

I was too.

Five and a half million,

two years can be worth up to seven million

if incentives are met.

Four and a half million guaranteed.

Whatever, you know, that's cool.

But the point being Evan,

it's a lot of money in the receiver room

for a team that is a running team

who like passed the ball one of the fewest times

in the NFL last year.

JSN was like 60% of the targets if not more.

Cooper, like it is a little odd

to park this many dollars in that position.

You're not wrong.

So I'm not going to like fully argue against that.

I would just say like, don't forget how good

that passing offense it was

and like the first two games of the year.

Yeah.

You know what I mean?

Like I know their identity shifted.

It's like they flip flopped almost.

But I'm not too worried about it.

Like Cooper Cups coming off the books next year, right?

He's not going to be on his current contract.

He has a little bit of a stagger with his deal.

So it's just, I'm just, I'm just the real.

It feels so weird to have a CEOX receiver

who's like who had the best year in football

last year's receiver.

It's just weird to me.

You know what, you know what's actually maybe never been said,

at least I haven't heard it, is JSN is the second coming

of Steve Largent.

And I mean that in a few different ways.

Like unbelievable separator, unbelievable hands,

unbelievably classy and how he conducts himself

and kind of just succeeds in ways

that people have a hard time explaining how he's that good.

And I think that's the last receiver

that comes to mind for me.

That was that good, that quiet like mild mannered

and you know, Hall of Fame level kind of player.

Except you get to watch him run routes

and not black and white TV.

You get to watch him in color.

Yes, yes, yes.

JSN, it's, I mean, I've even got this one.

There you go.

There you go.

I'm glad you contributed a little bit extra.

He needs the money.

So make sure you buy more and get the money.

That's the money.

I'm trying to think if there's anything else

I wanted to talk to you while I've got you on this.

But it's, yeah, it's just, it's, I, there's going to be

people who fret out, fret about the number on this.

It's, oh, this is what I was going to say.

The, the, the, the difference between like rewind

of free agency, like what two weeks go, three weeks go.

I don't know what to have, life doesn't work.

Alec Pierce just signed for like,

what was like high 20s.

Yeah.

Something like that, right?

29, something like 29.

Oh my gosh.

Not a bad player just the receiver market scares me.

But like the valet, like I'd so much rather have like a JSN,

a Jamar at 40 or whatever.

It feels like the difference in that 10 million

between like the middle tier of like high 20s.

And, you know, the top five, like that feels like

a massive stretch and talent to me.

And I just, like this is worth it.

This is, this is, this is like, this is not a problem.

Like you, you had, you know, the offensive player

that you're last year, you pay up.

Yeah, yeah, I'm with you.

And it is just kind of astounding to think that a year ago now,

we were having conversations about a lot of people saying

the Seahawks got Cooper Cup and JSN.

They're both slot receivers.

How can they function together?

Who else is even in the room?

They've traded away DK Metcalf.

They only drafted a fifth round receiver in Tory Horton.

Like what's going on that receiver room?

And we were talking about it all the way into the season.

Like, I don't know if this team's gonna be dynamic enough.

If they're gonna be explosive enough.

Yeah.

And now you've got four, 12 months.

He is the highest paid receiver.

And as you just described in great detail,

completely reset the receiver market.

And you also added receipt to heath to the mix.

And Tory Horton blew up, you know,

and Cooper Cup still around.

So it is amazing what a year does.

Let me ask you this, Brian.

What was your favorite JSN moment this year?

Oh, Duncan on the goal post was pretty sweet.

It'd be in Derek's day.

Oh, oh, good point.

I think was it the NFC championship game

where Sam Darnal was rolling out to the left

and didn't know, look past to JSN,

who like one handed it, you know what I mean?

Like running out of bounds in the red zone.

Yes, that was me.

NFC championship against the round.

I couldn't remember if that was Thursday night

or the NFC championship game, but that, you know, it's funny.

I didn't even see it in person because like, you know, it's hard.

But like in hindsight, like, and on the TV copy,

like people forget, Darnal did a no-look pass on that, by the way.

Yeah, yeah, yeah.

It was so nasty.

I just, I'm just, I'm just thrilled

about the entire situation.

He's a young star player in the NFL.

I'd so much rather have him than Puka,

the other guy in the division.

And he's gonna be a Seahawk through likely age 30

or close to age 30.

We're in for a good time, folks.

I'm happy about it.

Yeah, very, very cool.

Evan, man, thank you so much for taking some time to share.

Like you know this stuff better than any of us.

And I know a lot of people really appreciate

getting your expertise.

So dude, I'm looking forward to seeing you

in person later this week.

So we're gonna devour some tacos.

We're gonna crush tacos and yeah, it's gonna be great, dude.

We're both gonna leave 30 pounds heavier.

That's the plan.

We will see about that.

That is Evan Hill at Evan Hill HB, man.

Have a...

All right, that was Evan Hill, who joined us,

joined me last night to talk through that contract.

I thought that was fantastic, you know, I'm biased,

but I learned a lot.

And you know, I kind of am a generalist

when it comes to NFL and football.

I know a good amount about a lot of things,

but I don't necessarily go super deep on some things

like the cap.

Like I only have enough interest to...

I want to know enough that I can have a strong,

educated opinion on whether it is a smart way

that a contract is structured

or whether they spent in the right place,

all that kind of stuff,

but I don't really get that excited about contract law

and, you know, all the ins and outs.

I wouldn't have thought to look for option bonuses

and stuff like that.

So it's great to have someone like Evan

who literally could see how excited he gets

talking about contracts

and what the Seahawks did here with JSN.

And it is fascinating the way that this,

you know, it just,

it sets a different stage in where the Seahawks are

with a 24 year old superstar offensive player of the year

who they've essentially locked up

for the heart of his career.

And now you just, you know,

crash your fingers that you get the most out of that.

But you know, every contract you sign,

every extension you sign,

every draft pick you make is a risk.

Every single one.

And I think as far as risks go,

JSN for who he is,

for the type of player he is,

for how he works, for how he succeeds,

I think it's about as good of a bet as you can make.

So, you know, knocking on wood and all that good stuff,

but really, really excited for him

and excited for the team.

As I kind of mentioned early in the show,

first of all, if you haven't already,

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is what you want it to be.

That's kind of the goal.

But as I was looking through the teams

that have spent the most money,

average annual value at least on the wide receiver position,

what are the teams that are on that list?

Let's go through the top 10 teams, at least currently.

This is before a Pukka Nakua extension,

before a George Pickens for Dallas extension,

and all that kind of stuff.

Seattle's number one, the bangles are number two.

Now, the bangles aren't having been a very good team,

but the offense has been pretty good.

The offense, even with a bad offensive line,

has been pretty good because you've got Joe Burrow

and you've got Mark Chase and T Higgins.

So at least from an offensive construction standpoint,

I don't think it's been the worst thing that they spent there.

Dallas's number three, the Eagles are number four,

the Lions are number five.

That's an interesting one, right?

The Lions are also a heavy running team.

A lot of play action, a lot of under center,

they asked the receivers to block quite a bit.

They're number five, and that is,

I'm on Ross St. Brown at over 30 million a year,

James and Williams at 26 million a year, Isaac Tesla,

who really broke out last year as a rookie.

All the rest of the guys they have are very low,

but they have those two top guys

in I'm on Ross St. Brown and James and Williams

that make a big number.

Then you've got the 49ers at number six,

and number one on that list is Brandon Iyuk at 30 million.

From there, Mike Evans, DeMarcus Robinson,

Ricky Pierce saw it like it actually drops off quite a bit.

Then you've got the Broncos at seven,

the Steelers at eight, the Bills at nine.

And so the interesting thing to me there

is that's a lot of pretty good teams, right?

Like the Seahawks, the Eagles, the Lions, 49ers,

112 games, the Broncos were in the AFC championship,

the Steelers were in the playoffs,

the Bills were in the playoffs,

and yeah, it's kind of shocking.

They didn't make it to the Super Bowl,

but they didn't.

Now, the Bills is a little misleading

because that is with DJ Moore,

and they just added and extended him.

So he wasn't with them last year,

but I don't think it's gonna hurt them to have him.

So I am generally uncomfortable with allotting,

allocating that much money to the wide receiver position.

But as I look at this list,

there's a decent correlation with teams

that have pretty talented and expensive wide receiver rooms

with teams that have pretty good offenses.

So take that for whether it's real or a knot,

I think that was a kind of a quick review

of that aspect for me.

I was gonna do a little bit of a deep dive on cornerbacks.

I don't think we're gonna get all the way into it today,

but I do wanna like,

well, maybe I'll just save this for tomorrow.

I found a new website,

and I'm gonna try to get the guy who does it on the show.

Just outstanding, outstanding draft content,

and we'll see if I can get that hooked up,

and we'll go through the site with him.

But I was able to dig through a lot of things quickly

because how good this website is.

One of the great things about the age

that we're at right now, not age of how old you are,

but the time in history we are,

is that people are able to do independent coding projects

in ways they couldn't before,

and we're seeing all sorts of really, really cool

independent projects pop up, and this is one of them.

So I'll tease that for now, share more about it.

Latest, sometime this week,

hopefully I can get this guy on the show

sooner rather than later, and we can go through some of that.

What I will do before I wrap today,

I will go through another mock draft.

I will do another mock draft

because we're gonna try to do one pretty much every day

going forward.

It's gonna help me, and it may or may not help you guys.

I don't know, but I wanna keep doing it,

and I've finally, finally started to get my appetite

for draft content.

It's been a while, but I'm finally there.

So this is my draft from yesterday,

which I really like still.

I gotta admit, I really like it.

I know D'Angelo Ponds is very small, I know he's an outlier,

but I watch him play, and I see Brian Branch,

I see Devin Witherspoon, I see a smaller player

who is just an absolute dog as a football player.

I think he's gonna make some team

very happy to get him in the second round.

Now, I also love pretty much all the rest of that draft,

but let's do a new one.

Let's do a new one.

We're gonna do the C-Ox again, we'll do six rounds again.

Which big board do we get?

Consensus, let's do the consensus, big board.

I haven't done that yet, I'm curious, that's cool.

How we get to do that?

All right, so we're gonna start the draft.

And here we go at 32.

Colton Hood is their Casey Concepcion,

who's getting a lot of love.

Still not my personal favorite receiver,

and obviously the C-Ox are probably not gonna go receiver first.

Manual Pregnant, to me, is a really appealing guard prospect.

I would not hate it if the C-Ox took him

with their first pick.

I think he is a guy that could challenge

for a starting spot.

Gidarian Price is there, the halfback,

if you wanna go that direction.

There are some other guys as well.

I'm gonna trade back again because I do like that,

but we're not gonna trade back.

Tringing back to 58 is way too far.

So let's look at, let's see if we can trade back

to the, let's trade back to the bangles.

Let's go back like 10 spots.

We'll get, they're not interested.

Okay, well, if we can't get the trade we want,

we'll just draft a player here, that's fine.

So guys that are on my mind,

I'm interested in Colton Hood.

I think he's just a really a good fit at corner.

I think he's a little bit more of a man guy than his own guy,

but I do like him.

I still like Zion Young, even though there's some questions there.

Brandon C. Say, I think is a really interesting fit.

I still feel like is a little bit of a project.

Chris Johnson is very popular with a lot of folks,

and I would just, I have a few questions

based on this new site I was looking at,

which I won't get into too much right now,

but what was I looking at there that got my attention?

Yeah, this other site had him as a lowers,

a pretty low zone coverage corner.

And I just really think that zone coverage

is a pretty important aspect of playing corner back

in Mike McDonald's defense.

Let me look here at, I'm looking at my this site I like.

I promise I will share it soon.

But I think, I mean, you could go with any of these guys.

I, I'm going to go with a manual Pregnon

to have a little bit of competition in the interior line.

And then we're going to be at 64.

Let's see if we've got some trade options here.

There's actually some pretty interesting names here.

So I don't think I would trade back,

but trading back two spots, I would definitely do that.

Well, let's see, I don't know if we pick up 142,

I think that's worth doing, I think that's worth doing.

Let's do it.

All right, so they take the need and a sudden

who is the guy that I would potentially take.

Keith Abney, the corner has gone to.

Keonte Scott, Keonte Scott lit up

hit a pro day yesterday, ran a 433.

This guy's six foot, he's played mostly in the slot.

Okay, so that's one of the issues there,

but this is a really interesting cornerback.

Lewis Riddick absolutely loves this guy.

He is an interesting name at the corner backspot.

Mike Washington Jr., who I know a lot of people love.

I still have questions about,

he is just not a guy that makes people miss that much.

He's got to just be able to hit a hole and go.

I'm not sure I see a second round pick with Mike Jackson.

I think you're actually losing something

by taking him that high.

As I look through here, honestly,

you lost, like, didn't he done a sudden

would have been a great second pick.

So I feel buyers remorse on making that deal.

As I look through here,

Jalen Kilgore is a name that's gotten a lot of people excited.

I don't know if I'd go this high with him.

Emmett Johnson will talk about him hopefully if he's still around

because that's a guy I've warmed to.

We're going to go ahead and take,

we are going to take Kiantes.

Well, let me see cornerbacks here,

who are the cornerbacks that are left?

Traden Stookes is also really interesting.

Yeah, I might take Stookes,

although he can play all over the place.

He doesn't play outside corner as much.

Let me pull up in my other site here and check this out.

So where does he fall here?

Yeah, didn't like what I was trying to do.

So, oh, oh, well.

Let me see if I can make it cornerback

and is it going to load?

Okay, does they have Stookes as a safety?

They might, he might have Stookes as a safety.

Let me check safety.

Yeah, he has Stookes as a safety.

Yeah, I think that's part of why he hadn't shown up

for me in other places.

Eggman Oson's an interesting guy.

I just think he's a little stiff for me.

Devin Moore, they've got way down here.

I really like Devin Moore as well.

And I think he might be an interesting fit for the Seahawks

because he's, I think a really good overall corner,

especially in zone coverage.

I'm pulling up just to see if my read matches this person's.

Yeah, I mean, here's what we're going to do.

We're going to take Kianta Scott,

I've not taken Kianta Scott yet,

but really athletic corner.

Then we're back on the at 96.

And you got Jonah Coleman there and you've got Devin Moore.

So I could have waited and gotten Devin Moore.

We've already got our guard,

so I don't think we need to take another person there.

Look down through this list.

It's a carrier Davis again.

We've already got a corner.

I think we will go with Jonah Coleman running back.

I feel very good about Jonah.

We just missed a key Wheatley,

that would have been a good name.

Then we're back.

This is the pick that we got from trading backwards.

Who are we interested in here?

So safety,

wide receiver,

those are all potential positions edge.

We have not gotten edge yet.

Yeah, not having an edge feels like a miss.

Let's take a look at some of these edges.

Max Luellen.

He's right in the Mike McDonald range in terms of size,

not a great run defender.

That is not usually a good sign.

Let's get all positions showing here.

Let's see how I can get another look at Mr. Max player.

All right.

Here is what we got from Max edge.

So not a great,

what do we got here?

Pass rush is almost identical to Aiden Hutchinson.

That's interesting.

Rare salesmanship and attention to details

of pass rush.

We're going to have a look at this.

We're going to have a look at this.

It's been attention to details.

A pass rush or sets up in the sequences moves

like an NFL veteran uses hesitation.

Eurosteps exaggerate upper body to set up his moves.

He's got below average arm length.

First step is good, but not a lead average bend.

His athleticism,

hand size is very small.

Arm length of 32.6 is not great.

40 yard dash at 48, not great.

He's been kind of fallen.

He had been a top 100 prospects has fallen down the board here.

I want to watch see if we've got some film here real quick.

Yeah, I don't know, man.

I kind of like him.

I could talk myself into especially this late.

Yeah, we're going to get Max Luellen.

I like this guy.

I think he's got enough for me to say,

let's do it in this round.

All right, so we're adding an edge.

Let me go all the way down to our last pick here.

And I'm personally going to look at receiver.

I know it's crazy.

That's where I'm going to look.

I also potentially maybe I'll look at running back as well.

Wide receiver, safety.

So I'm probably going to go back to my guy that I liked.

Although Roman Hemby's an interesting one.

This is a guy the Seahawks have met with.

Let's take a second running back.

Let's do that.

I think adding to the pile there is not a bad way to go.

Giving you a little bit more competition.

The guy that I kind of started to get interested in was,

sorry, let me get back to who was it?

It was Emmett Johnson.

Yeah, Emmett Johnson for Nebraska.

I've been watching a little bit more of him.

He's not the fastest guy,

but he has got really nice feet,

really good lateral quickness, good jump cuts.

He's not going to be a guy that's going to be your home run threat,

but I feel like he's going to be a very productive NFL running back.

So Emmett Johnson's a guy,

I think some of you have asked about him before

and I hadn't had a chance to watch him until recently,

but he's a guy would be interested in.

But anyway,

Hembey is a big dude and I think it's fine in the sixth round.

So I really like,

I kind of like Pregnant at 32 to be honest.

I don't hate going into your offensive line early

based on now getting a little bit more eyes on some of these guys.

Kianta Scott is not my favorite at the corner spot

because I think he's played more nickel

and I don't know that you specifically need a nickel,

but he is big enough that I think he could potentially

his skill set could go outside.

He's just a really good athlete and a good football player.

Jonah Coleman, I like Maxwell and's new for me today.

I'm going to spend a little bit more time on edges,

but I don't hate this draft.

I don't hate this draft at all.

So people are saying that you want to get a center.

I just, I really like Jalen Sundell.

I don't see a need.

I just, like, if there's a center that's just so good

and I know there's some guys that people really like,

but for me, I think it's,

it's not quite a wasted pick.

You could replace Olu who's in the last year of his deal,

but I really believe people are underestimating.

I think people are underestimating Jalen Sundell

and how good he is and how good he's going to be.

Uh, okay.

Well, uh, that is all she wrote

for this episode of Hawk Lager Mornings.

I'll be back tonight with Ceeox Collective at five o'clock

and about Hasselbach, Rob Staten and Michael Sean Dugar.

So I'll see you for that.

And then we'll be back tomorrow with more

until then have a great rest of your day.

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