The Herd with Colin Cowherd 3 & Out - Jaxon Smith-Njigba’s megadeal, Ty Simpson a first rounder, and Kelce's new contract
Mar 24, 2026
A deep dive into Jaxon Smith-Njigba’s megadeal and what it signals for the wide receiver market. Breakdown of how cash versus cap accounting is reshaping team decisions. Debate over Ty Simpson’s draft stock and whether limited college reps hurt his first-round chances. Analysis of Travis Kelce’s new contract and its implications for roster construction around Patrick Mahomes.
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Cash Budgets Matter More Than Cap Headlines
- NFL teams manage both salary-cap space and actual cash budgets, and cash (signing bonuses) often constrains decisions more immediately than cap numbers.
- John Middlecoff highlights JSN's $35 million signing bonus as the cash hit that forces teams to prioritize who they can actually pay now.
Drafting Elite Receivers Creates Costly Cascades
- Extending homegrown elite players costs a premium, especially at receiver, and compresses future roster flexibility.
- Middlecoff uses Jaxon Smith-Njigba's extension and Seattle's string of high-end draft hits to explain rising positional costs.
Prioritize Draft Value Over Paying Everybody
- Build teams by drafting and extending selectively rather than trying to 'pay everybody'; prioritize cornerstone players and later-round value.
- Middlecoff advises hitting late-round and depth picks because big guarantees will squeeze budgets after multiple extensions.