Splash: How the NFL's Best and Worst Teams Handle Free Agency on Day 1

NFL fans, you're nearly there. The month after the Super Bowl tends to be the toughest—for the first time in about six months, you've got nothing to do on Sunday afternoons and no fantasy football to work on during business hours. It can be a difficult transitional period for fans, but one that's rather short-lived: Today starts a new league year in the NFL.

No fans are going to be lighting fireworks, and there's no ball to drop in Times Square, but NFL teams, players, and agents are still getting very lit today. Free agency officially begins with the start of the NFL New Year, and as we saw over the weekend, teams have wasted no time in setting up contracts and preparing pens. Ndamukong Suh is headed to the Dolphins for $114 million. Byron Maxwell will be a Philadelphia Eagle by the close of business today. Jeremy Maclin's headed to the Chiefs for $11 million annually. Today's the NFL's equivalent of signing day.

These signings, however, come with high risks. Far too often, antsy teams get ahead of themselves and drop way too much cash on Day 1 free agents. More often than not, in hindsight, the worst deals are signed on Day 1. We've seen Dan Snyder's Redskins do it repeatedly. The Raiders never seem to learn that building through free agency is dumb. It's not too often that the best and smartest teams pull the trigger this early in free agency, and the teams who do make marquee signings aren't always that much better for it. See for yourself in Splash: How the NFL's Best and Worst Teams Handle Free Agency Day 1.

Key Day 1 Signings: Anthony Henry (Cowboys), Jason Ferguson (Cowboys), T.J. Houshmandzadeh (Bengals), Chris Samuels (Redskins), Casey Rabach (Redskins)

Two of the NFL's year-in, year-out big spenders had Day 1 looking lit in 2005. Jerry Jones wasted no time in beating the league to defensive tackle Jason Ferguson, who got 5-years/$21.5 million, and cornerback Anthony Henry, who took home a 5-year/$25 million contract. In all, the Cowboys invested $20 million in guarantees to the top defensive tackle and the top cornerback on the market. Ferguson only started one complete season at defensive tackle before being released, but Henry would play 56 games over the life of his contract, giving the Cowboys a shutdown corner.

Washington also got their decade's-long spending spree going by awarding a franchise record $17.5 million signing bonus to offensive tackle Chris Samuels. From 2005-2008, he was named to four straight Pro Bowls, making him one of the team's few worthwhile Day 1 signings of the decade.

Key Day 1 Signings: Edgerrin James (Cardinals), Antwaan Randle El (Redskins), Will Witherspoon (Rams), Marquand Manuel (Packers), Chester Taylor (Vikings), Bart Scott (Ravens).

Since the St. Louis Cardinals up and left town after the 1987, the Bidwell family's team has consistently sucked. Since the move to Arizona nearly three decades ago, the Cardinals have had a total of five winning seasons, and one Cinderella-esque run to the Super Bowl (which they lost, of course). The 2014 Cardinals actually set the franchise record for wins since moving to Arizona. It took 27 seasons for your Cardinals of Arizona to reach 11 regular season wins.

The 2006 Arizona Cardinals fancied themselves as a winning team. The year before, they had gone 5-11, but had lost six games by a touchdown or less. Zombie Kurt Warner rose up to lead the league in passing yards while receiving duo Larry Fitzgerald, and Anquan Boldin made the Cardinals a high-flying, exciting team. They were a lot of fun in Madden, but they had their flaws. The Cardinals couldn't run the ball for shit, finishing with the 5th lowest team rushing mark in a 16-game season.

Buoyed by head coach Dennis Green's third season in charge, the team just needed a new featured running back to ascend, right? That made Edgerrin James an easy pick-up. The Cardinals shelled out $40 million over four years for James as soon as the market opened, and were ready to roll. They also drafted Matt Leinart 10th overall to give Kurt Warner a proper understudy, similar to what the Giants attempted a few years prior with Warner and Eli Manning. Everything was great! James, a top back coming over from Peyton Manning's Colts, brightened spirits in Arizona. Warner said that, “He gives us instant credibility.” After James installed a TV and iPod speaker in the locker room, Boldin remarked, “Guys are more upbeat, as opposed to just coming to work and getting the job done.” The job failed though. The 2006 Cardinals finished 8-8, Green was fired, and James' old team won Super Bowl XLI. James never rushed for more than 4 yards per carry with the Cardinals, but did achieve two thousand yard seasons as a workhorse struggle back. In James' final season in Arizona, the Cardinals reached the Super Bowl, but they never got the running back they paid for.

Elsewhere on Day 1, safety Marquand Manuel (5-years/$10 million) and wide receiver Antwaan Randle El (7-years/$31 million) signed deals that their teams regretted soon thereafter. Manuel was quickly demoted in Green Bay, and Randle El scored more guaranteed millions ($11.5 million) from Dan Snyder than touchdowns (eight total) over his four years in Washington. Fellow Day 1 signees Will Witherspoon (6-years/$33 million), Bart Scott (3-years/$13.5 million), and running back Chester Taylor (4-years/$14.1 million) all worked out on deals that proved to be low cost, high value for their respective teams.

Key Day 1 Signings: Dominic Rhodes (Raiders), Kerry Collins (Titans), Rod Hood (Cardinals), Marc Colombo (Cowboys).

Day 1 of NFL free agency in 2007 didn't see any of the big names come off the market. Nate Clements and Adalius Thomas, the pool's two top availabilities, didn't sign with the 49ers and Patriots until later on in March. The Raiders and Cardinals dipped their deep, but perennially losing coffers into Day 1's madness anyway.

Super Bowl winner Dominic Rhodes left the Colts like James had a year before, but for a little less money: 2-years/$7.5 million. The Raiders cut him just 13 months after first signing him. The Cardinals' own splashing of le cash paid better dividends than James' contract. Rod Hood signed for 5-years/$15 million and went on to post the best interception numbers of his career in Arizona. The two best signings of the day were offensive lineman Marc Colombo, who helped lead Marion Barber's vicious rushing attack in Dallas, and Kerry Collins, who was Wrangler jeans-levels of washed when he signed, but proved to be invaluable in leading the Titans to a 13-3 record in 2008 after Vince Young drove himself out of Tennessee.

Key Day 1 Signings: Gibril Wilson (Raiders), Asante Samuel (Eagles), Kawika Mitchell (Bills), Reggie Torbor (Dolphins).

2008 was a strong free agent class. Randy Moss, Asante Samuel, Lance Briggs, and Michael Turner lead the way, but Samuel was the only Day 1 signee. The Eagles threw 6-years/$57 million ($20 million guaranteed) at Samuel, who had nabbed 16 interceptions his previous two seasons. At 27-years-old, Samuel was still within the prime of his shutdown career, and he was badly needed on an Eagles team that had an NFL-worst 19 takeaways in the 2007 season. He went on to pick off 23 passes in Philadelphia, bettering his total from his first five years in New England. On the flip-side of defensive back signings, Super Bowl winner Gibril Wilson left the Giants for 6-years/$39 million ($19.5 million guaranteed), making the 26-year-old one of the highest paid safeties in NFL history. The Raiders, like Rhodes the year before, cut him after one season. The Dolphins followed their 1-15 season by handing over the GM keys to Bill Parcells, who signed seven players, the most out of all 2008 Day 1 teams. Torbor's $14 million contract was the largest out of the crop, but just like everything else for Parcells in Miami, the group fell way short of expectations following initial success. They improved 10 wins to 11-5 and a playoff spot in 2008, but haven't finished above .500 since.

Key Day 1 Signings: Albert Haynesworth (Redskins), Domonique Foxworth (Falcons), Andre Goodman (Dolphins), Stacy Andrews (Eagles), Bart Scott (Jets).

Albert Haynesworth's deal shook the NFL. Agreed to on the first day of free agency, the $100 million contract that was negotiated ended up being for show. No defensive player can live up to a $100 million contract—the number was a farce, and as it turned out, so was Haynesworth. He collected $41 million in guaranteed money from Washington, but it was a poor fit. Haynesworth showed up to training camp out of shape and began quarelling with the coaching staff, who according to Haynesworth, broke promises to him on how the team would set up its defense. Haynesworth never settled within their 3-4, having been so dominant in a 4-3 that allowed him to eat quarterbacks live. In December 2009, he was suspended for “conduct detrimental to the club,” and that was that. The team traded him to the Patriots in April 2010, just over a year after he first signed.

The Haynesworth Deal serves as a cautionary tale for all teams looking to make free agent splashes. The lesson: Two sides should never rush into anything—not with $100 million on the line. Haynesworth signed with Washington because they were the most popular team in the biggest market (the Bucs made a $120 million offer) who offered him the most money (the Titans' offer had $20 million less in guarantees) even though they were the worst fit (who plays a 3-4 defense around a pass-rushing force like Haynesworth?). Washington signed Haynesworth because he was (literally) the biggest fish of free agency, and Dan Snyder loves to spend his way into his fans hearts instead of winning games or being morally sound. The deal was done for all the wrong reasons.

Dan Snyder didn't stop with Haynesworth on Day 1 either. Again, Washington signed expensive names without much regard. After wrapping up Haynesworth, Snyder doled out a further $30.2 million in committed salary to guard Derrick Dockery and cornerback DeAngelo Hall. Dockery made 18 starts before being cut. Hall, known more for his interception prowess than his actual coverage skills, has picked off 24 passes in Washington (he's still there!), but hasn't exactly been the $55 million shutdown corner that Snyder's paid him to be. All told, Washington sprayed over $71 million on negotiation tables after Day 1; DeAngelo Hall's empty interceptions is all the team can claim from that stunning outlay. Keep spending, Dan!

Key Day 1 Signings: Julis Peppers (Bears), Dunta Robinson (Falcons), Antrel Rolle (Giants), Kyle Vanden Bosch (Lions), Nate Burleson (Lions).

The Bears are the exception, not the rule. Teams that spend big on Day 1 to sign marquee names usually end up regretting it all sooner rather than later, but not the Bears. After a disappointing 7-0 finish in 2009, they took home Julius Peppers, Chester Taylor, and Brandon Manumaleuna after Day 1 of free agency in 2010. Just ten months later, the Bears were playing for the NFC Championship. Granted, Taylor and Manumaleuna were busts, but Peppers and his $42 million guaranteed contract seemed sound. The Bears were amongst the NFC's elite, and Peppers was still a powerful pass-rushing force. He finished 4th in Defense Player of the Year voting to boot.

In hindsight, the Bears probably wish they had their $42 million back. An aged Bears defense built around Brian Urlacher, Lance Briggs, and Tommie Harris collapsed the following season, leaving Peppers without much help out there. On a bad team with a decaying defense unit, Peppers' play ultimately didn't add up to record guaranteed money he was given. The Bears haven't returned to the playoffs since that NFC Championship game loss to the Packers, and Peppers was cut at the end of the 2013 season after four seasons and 37.5 sacks in Chicago.

Elsewhere, the Giants finally signed the star defensive back their secondary needed in Antrel Rolle. The Lions made two small signings in Vanden Bosch and Burleson, both of whom would be important pieces in their 2011 run to the playoffs. Dunta Robinson's $54 million contract ($22.5 million in guaranteed money) would pay for four interceptions in three years in Atlanta. Once again, the volatility of Day 1, particularly in regards to defensive backs, bit one team and helped another.

Key Day 1 Signings: Jonathan Joseph (Texans), Santonio Holmes (Jets), Sidney Rice (Seahawks), Charles Johnson (Panthers), DeAngelo Williams (Panthers), Paul Posluszny (Jaguars), Clint Session (Jaguars), Stephen Bowen (Redskins), Eric Weddle (Chargers)

The 2011 NFL offseason was a bit tardy. CBA negotiations and the lockout killed off the traditional February-March free agent season. For the first time in years, the likes of Dan Snyder couldn't spend their way into spring. Negotiations between owners and the NFLPA raged on into the summer, leaving an entire pool of free agents to wait and wonder. A deal was signed on July 25, and on July 27, free agency opened for the first time in 2011. To no surprise, Day 1 of free agency was one of the busiest days in league history. Months of spent up free agency aggression—the most serious case of blue balls in NFL history—was finally released. The Bears signed 19 players on the first day alone. No big names were dealt with immediately—the guys had to come back from Cancun—but by August, every team was getting frisky.

Many millions of guaranteed money was burned during those sweltering summer days. The Jaguars committed $72.5 million in contract and $26.5 million in guarantees to Clint Session and Paul Posluszny. The Seahawks, barren of wide receiver options, paid Sidney Rice in 2011 for numbers he put up in 2009 to the tune of $18.5 million in guarantees on a $41 million deal. Santonio Holmes swindled the Jets for $50 million, including $24 million guaranteed. Even Main Man Dan got in on the action, dropping $27.5 million for Stephen Bowen (who?).

The Eagles might've gotten the loosest with their moves. Including Nnamdi Asomugha's 5-year/$60 million deal, the team also signed Ronnie Brown, Steve Smith, Donald Lee, Jason Babin, Cullen Jenkins, and Dominique Rodgers-Cromartie. These moves didn't end up to anything special, but it did create Vince Young's most memorable NFL event: his ill-advised DREAM TEAM quote. It set the Eagles up for spectacularly inconsistent play. The team won their home opener, lost four straight after losing Michael Vick to injury, struggled along with Young as the starter, and then finished the season with four straight wins.

Key Day 1 Signings: Vincent Jackson (Buccaneers), Eric Wright (Buccaneers), Pierre Garcon (Redskins), Josh Morgan (Redskins)

Another offseason, another big cut from Dan in Washington. Armed with a high draft pick and determined to surround a future franchise quarterback with weapons on weapons on weapons, Snyder bit hard on Day 1. Wide receivers Pierre Garcon and Josh Morgan were snapped up for $27.5 million in combined guarantees. While Garcon has become a dependable pass-catcher (he set the team’s single-season catch record with 113 in 2013), Morgan only caught 68 balls over 2 seasons before being cut. Robert Griffin III, the “future franchise quarterback,” has yet to build a rapport with either player.

Key Day 1 Signings: Mike Wallace (Dolphins), Dannell Ellerbe (Dolphins), Reggie Bush (Lions), Chris Houston (Lions), Glover Quin (Lions).

On the first day of 2013 free agency, Dolphins GM Jeff Ireland took a bite into the player pie, he liked what he tasted, and paid $95 million for it. Mike Wallace and Dannell Ellerbe were signed for $95 million in total contracts on Day 1, starting a week of hot seat spending. Ireland filled his 2013 Dolphins with overpriced veterans in the hopes of saving his job, ultimately managing to burden the team with Wallace, Ellerbe, Philip Wheeler, and Brandon Gibson. They finished 8-8 last season, and the team fired Ireland in January after six years of middling performances.

The Lions were also active on Day 1, signing a veteran group in Reggie Bush, Glover Quin, Chris Houston, and Jason Jones to multi-year deals. While Bush and his $16 million contract are no longer with the team, Quin and Houston were part of a secondary that surprised a lot of quarterbacks in 2014 with their stinginess.

Both the Dolphins and Lions spent hard on veterans during Day 1, but in Ireland's case with the Dolphins, the day's mismanaged deals only served to seal his fate.

Key Day 1 Signings: T.J Ward (Broncos), Aqib Talib (Broncos) Jarius Byrd (Saints), Branden Albert (Chiefs).

As we’ve now seen, the best teams usually don’t make bold Day 1 moves. That isn’t to say good teams don’t go hunting in free agency and end up with burns—for every move Dan Snyder makes, the Patriots, or another stable and successful franchise, will get ahead of themselves and end up signing Adalius Thomas. It’s just that good teams don’t generally jump out ahead of the pack for star names. They’ll play the long-game, filling holes on reasonable deals, building through the draft, and saving free agent cap space to re-sign their own franchise cornerstone need to sign them away from someone else.

The AFC Champion Broncos, however, went ahead and drank heavily on Day 1. Presumably still salty over the 43-8 loss to the Seahawks in the Super Bowl, John Elway put work in on the phones early in the offseason. On Day 1, the Broncos got safety T.J. Ward on a nominal deal, but also landed cornerback Aqib Talib on a shocking 6-year/$57 million contract with $26 million guaranteed.

Once the tone for defensive backs was set (the Packers’ re-upping of Sam Shields on 4-years/$39.95 million made $10 million a year the market rate for top backs), the rest went quickly, and for huge money. Jarius Byrd lead the way by landing $28 million in guarantees, while Donte Whitner, Antoine Bethea, Malcolm Jenkins, and Mike Mitchell got snapped up within hours.

Offensive linemen were also hot on Day 1, but that should come as no surprise. We’re living in the Age of the 4,000 Yard Quarterback, putting a premium on positions that attack the quarterback (defensive ends and safeties) and on positions that protect and serve them (offensive tackles). Tackles Branden Albert, Jared Veldheer, and Rodger Saffold signed $124.5 million in total contracts that day.

24/7/365, tackles and safeties getting PAID.

Don't overpay for big names on Day 1, because that's when some of the worst contracts are born. Also, the best and smartest teams almost never make moves on Day 1. They let Dan Snyder do the bidding for them.