Assessing the NFL’s Financial Landscape: Awards for 2023 Veteran Acquisitions

The NFL’s financial landscape is being assessed through awards for the 11th straight year on CBSSports.com now that the Super Bowl LVIII matchup between the San Francisco 49ers and Kansas City Chiefs is set. These awards differ from the traditional NFL honors because they are from an economic perspective emphasizing 2023 veteran acquisitions.

Players acquired by trades or in free agency can have a tremendous impact on an NFL team’s fortunes. Rookies weren’t given any consideration because their salaries were a function of draft position and the rookie wage scale. The same applies to players who signed restricted free agent tenders since the amounts are set by the NFL’s collective bargaining agreement. A runner-up is named when warranted.

One of the standout signings of the 2023 season was Baker Mayfield, who joined the Tampa Bay Buccaneers on a fully guaranteed one-year, $4 million deal worth up to $8.5 million through incentives. Mayfield, taking over for the retired Tom Brady, had the best season of his six-year NFL career. He completed 64.3% of his passes for 4,044 yards with 28 touchdowns and 10 interceptions, posting a 94.6 passer rating.

Despite the transition, the Buccaneers won their third consecutive NFC South title with a 9-8 record. They advanced to the divisional round of the playoffs for just the third time in 21 years, with Mayfield leading the way. In the two playoff games, Mayfield threw for 686 yards with six touchdowns and two interceptions, showcasing his ability to perform under pressure.

Another notable acquisition was Jimmy Garoppolo, who signed a three-year, $72.75 million contract with the Las Vegas Raiders. However, the deal had to be reworked due to a foot injury Garoppolo suffered with the San Francisco 49ers in December 2022, requiring surgery. The total value of the contract remained the same, but the salary guarantees were modified.

Garoppolo struggled during the season, ultimately losing his starting job to 2023 fifth-round pick Aidan O’Connell. He had a league-leading nine interceptions, despite missing two games due to injury. The Raiders decided to convert a portion of Garoppolo’s salary into a signing bonus, creating immediate salary cap room but resulting in a significant dead money charge if he is released in the offseason.

Overall, assessing the NFL’s financial landscape through awards for veteran acquisitions provides valuable insight into the impact of player signings on team performance. The 2023 season showcased both success stories, like Baker Mayfield, and challenges, like Jimmy Garoppolo. These assessments offer a unique perspective on the economic side of the NFL and how player acquisitions can shape a team’s fortunes.