As we go through the warm roads of NFL free agency, the first number you may hear in a money convo is rarely the one that actually hits the bank account. For example, when news broke that legendary wide receiverMike Evans was signing with the San Francisco 49ers, the headlines boasted a flashy three-year, $60.4 million deal.
But now the dust settles and the actual contract filings emerge, the truth behind the paperwork reveals a staggering reality: Mike Evans arguably took one of the biggest veteran discounts in recent NFL history to do it.
The reality vs the sticker price
On the surface, a $60.4 million deal s suggests an average annual value (APY) of roughly $20 million. Not bad. But given that reports leading up to free agency suggested Evans was fielding offers of $27 million per year or more, even the initial number seemed like a bargain for a player of his caliber.
However, a deep dive into the specific terms revealed it paints a much different picture. The base value of the contract is actually significantly lower than reported. Generating a signing bonus of $12 Million and a total base package of $42.5 Million that makes it roughly $14.16 million per year.
This valuation places him near the bottom of the top 30 receivers in the league. For a future Hall of Famer who has recorded 1,000+ yards in every single season of his career, this number is absolutely shocking.
Why the massive discount?
NFL insider Mike Florio of NBC Sports Pro Football Talk recently shed light on the context of this decision. He noted:
“Before Mike Evans picked his next team, multiple reports suggested that he was being offered $27 million per year, or more. If that’s the case, Evans took a major discount to play for the 49ers
The discount is even more pronounced when you consider the “California Factor” in the equation too. The Golden Coast State has a 13.3% state tax rate, whereas in Florida is zero.
By moving from Tampa to Santa Clara, Evans chose a lower base salary and a higher tax burden. It seems that Evans was determined to be a 49er, prioritizing the chance to chase a Super Bowl ring over squeezing every last dollar out of his final prime years.
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