The Las Vegas Raiders jumped the gun earlier this offseason when they signed Maxx Crosby to a three-year, $106.5 million contract extension that included $91.5 million in guaranteed money. The timing of the deal was somewhat of a surprise, as he still had two years remaining on his current deal.
Crosby's $35.5 million average annual value briefly reset the pass rusher market. However, just days later, Cleveland Browns star Myles Garrett signed a four-year, $160 million contract extension with $123.5 million in guarantees.
Pittsburgh Steelers star T.J. Watt later surpassed Garrett's $40 million per year deal as he signed a three-year, $123 million extension, which averages out to $41 million per year. The Steelers also included $108 million in guaranteed money.
Raiders look like geniuses for timing of Maxx Crosby's extension
The Raiders already looked geniuses for their decision to extend Crosby early, as he was set to enter the season as the fourth-highest paid pass rusher. Following Micah Parsons' trade from the Dallas Cowboys to the Green Bay Packers and subsequent extension, Las Vegas looks even better.
Parsons, a three-time All-Pro, was sent to the Packers for two first-round picks and defensive tackle Kenny Clark. He was given a four-year, $188 million contract extension that includes $120 million in guarantees, which averages out to $47 million per year.
It was no surprise that the Raiders chose to lock Crosby up with a long-term deal that briefly made him the league's highest-paid non-quarterback. However, it's a good thing that they struck an agreement when they did, because the market has now gotten out of hand.
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Originally, the timing of Crosby's deal confused some, as teams are generally reluctant to extend players with more than one year remaining on their contract. However, it is now clear that the Raiders wanted to get ahead of the pass-rushing market, as several big names were set to sign new deals.
While the deals signed by Garrett and Watt significantly raised the market, Parsons' new contract blew both out of the water.
Had Las Vegas waited until next offseason to extend Crosby, his average annual value would likely be at least $10 million higher than his current deal. The decision to extend him early paid off significantly, as the money saved will likely be enough to add another starter, perhaps two.
Additionally, the deal sending Parsons to Green Bay should help the Raiders in more ways than one. Las Vegas will no longer have to deal with the superstar pass rusher when they face the Cowboys at Allegiant Stadium in Week 11.