Every offseason new contracts have a way of changing the market value of different positions and it tends to have a ripple effect one way or another. For a player like Michael Gallup who is entering the final year of his rookie contract, that could be a good thing because there are a couple of freshly-inked extensions that could help lay the groundwork for his first big payday.
Thanks to Corey Davis and Kenny Golladay, and the extensions they signed with the Jets and Giants this offseason, Gallup’s representatives might have a much better understanding of the floor and ceiling of his market value when/if he hits free agency. Today, we will take a look at each scenario to not only see if the Dallas Cowboys can afford to keep him, but also what kind of payday Gallup quite possibly could be expecting.
WR Corey Davis, New York Jets
Corey Davis signed a 3 year, $37,500,000 contract with the New York Jets, including a $2,000,000 signing bonus, $27,000,000 guaranteed, and an average annual salary of $12,500,000. In 2021, Davis will earn a base salary of $7,000,000 and a signing bonus of $7,000,000, while carrying a cap hit of $9,333,333 and a dead cap value of $27,000,000.
*contract details from Spotrac.com
When it comes to negotiating a contract extension for Gallup teams might start with the contract Corey Davis received from the New York Jets this offseason. Due to his age and production in his first four years in the league, he compares favorably to what Gallup has accomplished thus far in his career with the Cowboys.
Davis was 26 years old upon signing a three-year deal with the Jets, the same age Gallup will be when he enters into free agency at the end of the 2021 season. He’s played in 56 games, starting 48 of them in four seasons while Gallup has played in 46 and started 35 with a full 17-game season ahead to easily make up the difference.
Production wise these two players aren’t too dissimilar either. In four years with the Tennessee Titans, Davis has accumulated 207 receptions for 2,851 receiving yards and 11 touchdowns. In three years with the Cowboys, Gallup has already come close to matching Davis’ production bringing in 158 receptions for 2,457 receiving yards with 13 touchdowns and still has 17 games to improve his numbers.
Based on all of this information the $12.5 million annual Davis received from the Jets is more than likely the absolute floor Gallup’s reps should be seeking. They wouldn’t consider any offers less than that, even though his age and production is pretty similar to Davis’.
WR Kenny Golladay, New York Giants
Kenny Golladay signed a 4 year, $72,000,000 contract with the New York Giants, including a $17,000,000 signing bonus, $40,000,000 guaranteed, and an average annual salary of $18,000,000. In 2021, Golladay will earn a base salary of $1,000,000, a signing bonus of $17,000,000 and a roster bonus of $73,525, while carrying a cap hit of $4,473,525 and a dead cap value of $28,000,000.
*contract details from Spotrac.com
Teams looking to sign Gallup to a long-term extension will no doubt love to use Davis’ contract as a blueprint, but Gallup’s representatives will be eyeing a bigger payday. That’s where Kenny Golladay comes into play. His offseason contract with the New York Giants could be very close to the ceiling of Gallup’s next one.
Believe it or not, but Golladay and Gallup have had pretty similar careers thus far in the NFL. The biggest difference between the two is the former Lions WR is two years older (27 and turns 28 in November) and has one Pro Bowl appearance under his belt. That’s really about it. They are far more similar than people may lead you to believe.
To date, Golladay has accumulated 183 receptions for 3,068 receiving yards and 21 touchdowns in his four years in Detroit, playing in 47 games and starting 39 of those contest. That’s not too far off from Gallup’s 158 receptions for 2,457 yards and 13 touchdowns in 46 games and 35 starts. Golladay’s numbers are little better of course, but not by much.
With all of that in mind, it wouldn’t be unreasonable to think Gallup could command a similar annual salary to Golladay’s ($18 million) from someone after the completion of the 2021 season. That’s especially true considering the salary cap is supposed to increase significantly giving teams even more money to throw at him.
It looks doubtful that the Cowboys will be able to keep Gallup around after 2021, especially if the numbers inch more toward Golladay and further from Davis. Of course, we can’t ever rule out what Jerry Jones may or may not do. Even after all of these years he stills find some way to keep us on our toes.