Free agent cornerback Josh Norman and Washington have come to an agreement on a contract, according to a report by Ian Rapoport. Norman was looking for a contract averaging over $14 million per year, which is roughly what the franchise tag from the Carolina Panthers would have paid him, but Washington was willing to give him $15 million per year with $50 million in guarantees.
Josh Norman's 5-year, $75M deal with the #Redskins includes $50M in guarantees, source said. Wow.— Ian Rapoport (@RapSheet) April 22, 2016
Yes, it's a lot of money. But if you don't think he's worth it and the Jacksonville Jaguars were smart not to approach him, just try and name five cornerbacks better than him right now.
Norman shockingly became an unrestricted free agent on Thursday afternoon when the Panthers decided to rescind the franchise tag they had placed on Norman, which freed him up to negotiate with any team in the NFL. The Jaguars were reportedly interested in Norman prior to free agency and him getting the franchise tag.
The reason for the Panthers rescinding the tag is simple, in that they did not feel a long term contract would be able to be reached and they did not want to have to deal with what they felt was a looming hold out situation, similar to what the Seattle Seahawks saw with Kam Chancellor last offseason. Instead, the Panthers decided to remove that tag and free up cap room that can be shifted to keeping some of their other players.