Why the Chiefs got good value for Marcus Peters
By David Thomas
On the surface it does indeed look like a terrible trade. A late 2nd for an all-pro cornerback? Well, lets look at the details and context to see if this makes sense.
Well that didn’t last long did it? Reports had surfaced that the LA Rams requested there be zero leaks regarding the details of the trade for cornerback Marcus Peters, which was first officially announced on Friday, February 23rd, 2018. Today (at the time of writing this) the full details have become clear. The Kansas City Chiefs sent Marcus Peters and a 2018 6th round pick to the Los Angeles Rams for their 2018 4th round pick and 2019 2nd round pick per Adam Schefter.
Chiefs fans and NFL fans at large are both shocked and appalled by the details of the trade. Many fans believe Peters value should at the very least have been worth a 1st round pick. Going by the NFL draft value chart, the Chiefs received what is effectively a late 2nd pick in exchange for Peters.
Future cap obligations
There are rumors that Peters told the Chiefs he was uninterested in re-signing, and may have held out for a trade. Lets for a moment imagine that Peters did want to re-sign, and see how that’d go for the Chiefs.
Following typical behavior, the Chiefs likely would have tried to re-sign Peters after the 2018 season before his 5th year option. The number people have loved to throw around is that Peters would be asking for a contract in the ball park of $18 million per year. Figuring that it’d likely be a 5 year contract that brings the total to a 5 year $90 million dollar contract. The richest contract in NFL history for a corner.
Currently the Chiefs stand at about ~$78 million in cap space for 2019. The list of potential re-signees for the 2019 offseason includes the following:
- Allen Bailey
- Dee Ford
- Spencer Ware
- Mitch Morse
- Chris Conley
- Steven Nelson
- Chris Jones
- Reggie Ragland
- Kendall Fuller
- Harrison Butker
The last four mentioned Jones, Ragland, Fuller, and Butker are all tied to the team through the end of 2019. However, the Chiefs will probably opt to try to sign these guys early before their value rises further.
Taking just the average cap hit for each of the respective positions, and you wind up with a potential $67.2 million in cap spending for 2019. That’s before adding in the reported potential asking price for Peters, which would bring the total to $85.2 million. Obviously some of these guys wont make it to 2019, and others are worth far above their position’s average salary. With a bevy of potential starters needing or wanting new contracts the Chiefs may need to make some difficult decisions.
The compensation
For a 25-year-old, two-time All-Pro with two years left on his rookie deal (including the 5th year option), the Chiefs received a 2018 4th round pick and 2019 2nd round pick. Without considering any of his on the field/off the field issues, it seems like a bad deal for the Chiefs. But is it really?
The automatic assumption that the Chiefs would have signed him if not for his alleged issues is questionable at best. Paying upwards of $18 million dollars for a cornerback, regardless of their ability, is a tough pill to swallow.
If the Chiefs simply decided not to re-sign him and let him walk in free agency after the 2019 season, it would have left the Chiefs with at best a 3rd round pick in 2020 as compensation. While the sources are questionable, there were reports that Peters may have been asking for a trade to begin with after his fight with defensive coordinator Bob Sutton.
So instead of having potential conflicts between the defensive coordinator, with Peters leaving in free agency anyways, the Chiefs got more value trading him now, especially considering the reports that just 4 teams showed any interest in trading for Peters. The Chiefs took the best they could get in a very limited market.
Future at the position
While Peters is on his way out of K.C., the Chiefs can rest easy knowing they will at least be getting their all-pro safety Eric Berry back in the secondary. On his way to K.C., Kendall Fuller will be an even more important addition than originally thought. Both will help cushion the loss of Peters in the secondary.
The Chiefs will have about ~$22 million in cap space and 6 draft picks to try to address the glaring need of depth and potential starters at the position. Brett Veach has come out publicly stating he wants to get young on defense, and that’s proven true so far. Veteran Ron Parker who is set to turn 31 this offseason is already reportedly on the chopping block.
Speaking on free agency, there are a bevy of names that the Chiefs could target. They’ve already picked up David Amerson on a cheap one year prove it deal, and don’t expect them to stop there. A couple names to keep an eye on are Kyle Fuller, E.J. Gaines, and Ross Cockrell. They’re all fairly young and may be able to be obtained for a fair price.
In the draft, expect the Chiefs to target defense for most if not potentially all of the draft. A couple names to keep your eye on in the 2nd-4th rounds, where the Chiefs love to target corners, Carolton Davis (Auburn), Jaire Alexander (Louisville), and Tarvarus McFadden (Florida State).
Things might not look super bright at the moment, but there’s no reason to believe the Chiefs take a major step back at the position. If you believe in Brett Veach then you should believe he will find a way to fill in the holes.
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