According to ESPN’s Adam Schefter, Indianapolis Colts wide receiver T.Y. Hilton has re-hired “super-agent” Drew Rosenhaus in anticipation of a new contract extension:
Colts WR TY Hilton, who also could be in line for a new contract this off-season, has re-hired agent Drew Rosenhaus.
— Adam Schefter (@AdamSchefter) February 17, 2015
Hilton previously had Rosenhaus as his agent until this past June, when he ended their business relationship. Agents Maverick Carter and Erik Burkhardt represented Hilton between his two stints with Rosenhaus.
While star quarterback Andrew Luck‘s looming mega-contract extension has drawn the majority of the headlines, Hilton as a 3rd round pick of the 2012 NFL Draft, is also due for an extension soon. The soon-to-be 4th year pro will be playing in the last year of his rookie contract in 2015, which pays him $1,705,850.
He’s due for quite the pay raise, as Hilton is coming off a career season, in which he caught 82 receptions for 1,345 receiving yards and 7 touchdowns. The former Florida International star was also named to his 1st career Pro Bowl.
As far as what kind of contract that Hilton can reasonably expect, he’s expected to command a contract that will pay him an upwards of $9 million annually. Per Spotrac, one of the premier salary cap valuation sites, Hilton is expected to obtain a contract that will pay him between what Percy Harvin and Jordy Nelson recently received but that number may still increase:
"T.Y. Hilton (WR, IND)5 years, $48,322,979 ($15M guaranteed)Average Salary: $9,664,596Hilton has quickly becoming Andrew Luck’s “goto” target in Indianapolis. and when he’s healthy, has proven he can find space anywhere on the field. He’s a sure bet to be locked up long-term along with Luck over the next few seasons, as the Colts look to build yet another dynasty around a brilliant and skilled QB. Production-wise, Hilton falls somewhere in between Percy Harvin and Jordy Nelson prior to the signing of their contracts, and could push past $50 million if asked to play out the final year of his rookie contract."
Another potential wide receiver to look at as far as a reasonable bar for Hilton’s new contract is Jordy Nelson’s fellow teammate in the Green Bay Packers Randall Cobb. The 4th-year emerging star wideout is a free agent and is looking for a new multi-year contract that starts in the $9 million per year range. Hilton would be expected to exceed that amount, but ultimately, not by much.
While it’s true that the Colts have around $37.8 million in cap space, the team may not actually “have it” realistically. The team cannot afford to tie up a large amount of their free salary cap in significant free agent multi-year deals, as the team will be faced with lucractive contract extensions in many of their key core players such as Andrew Luck, T.Y. Hilton, Anthony Castonzo, Dwayne Allen, and Coby Fleener.
Jan 24, 2015; Scottsdale, AZ, USA; Indianapolis Colts receiver T.Y. Hilton (13) signs autographs at Team Carter practice for the 2015 Pro Bowl at Scottsdale Community College. Mandatory Credit: Kirby Lee-USA TODAY Sports