By using the low restricted free agent tender on running back C.J. Anderson, the Broncos opened themselves up to losing the 25-year-old, and just days later, the Dolphins signed Anderson to an offer sheet worth $18MM over four years. Mike Klis of 9 News was the first to report Anderson’s signing, and now he provides the details of Miami’s offer sheet.
Anderson would earn $6MM total in 2016, made up of a guaranteed $675K base salary, a $5.25MM signing bonus, and a $100K workout bonus. In 2017, he’d earn a $2.9MM base salary, $1.7MM of which would be guaranteed, and he’d have another $100K workout bonus. In both 2018 and 2019, Anderson would have base salaries of $4.5MM, neither of which would be guaranteed.
As Klis notes, the most difficult aspect of the contract from the Broncos’ perspective is the $6MM guarantee in 2016. Denver only has about $12.5MM in cap space at the moment, and they still need to find a starting quarterback after losing Brock Osweiler to the Texans. So while the rest of the offer sheet is pretty reasonable, it’s the 2016 terms that might make-or-break the decision for the Broncos.
Of course, for less than $1MM in extra expenditures, Denver could have likely protected itself against losing Anderson. The low tender is worth $1.671MM, while the second-round tender (which would have entitled the Broncos to a second-round pick had they declined to match an offer sheet) is worth $2.553MM, just $882K more. Denver clearly misread the market for Anderson, and they’d be admitting that mistake even further by matching Miami’s offer.
Photo courtesy of USA Today Sports Images.