Mediocrity worth top dollar for foolish Raiders

Now that the spending sprees of free-agency are over I have one question: What in the world is up with the Oakland Raiders?

They spend zillions of dollars on marginal players, which doesn't exactly make them unique, but they keep throwing around money as if no one in the organization ever heard the words fiscal responsibility.

The Raiders could end up paying $12 million for one year of Javon Walker's services. (US Presswire)

Of course, the Raiders aren't alone there. The New York Jets spent exorbitant amounts of money on veterans and free agents, too, but at least you can make an argument for stuffing money in the pockets of decorated veteran Alan Faneca.

I'm still waiting for the defense to explain the Javon Walker contract.

It's not as bad as it was first reported, and it was first reported as a deal including $16 million in guarantees. Not true. The former Denver wide receiver has an $11 million signing bonus and $1 million in base pay for this season.

OK, swell, so he's due $12 million. But let's say he's a bust, and the Raiders decide to move on without him next year, far-fetched as it might be. That means they don't have to pay Walker's $4 million salary or his $5 million roster bonus -- neither of which is guaranteed.

It also means that with an acceleration of $9.165 million, they would be down only $165,000 against the 2009 salary cap. That's the good news. The bad: If they were to cut him, they would have paid $12 million for one year of work.

"It doesn't make sense," said an agent who looked at the contract.

Yeah, but these are the Raiders, 19-61 since their Super Bowl XXXVII appearance and the team that made defensive tackle Tommy Kelly one of the richest defensive players in the game. Now, when you think of the league's top defensive tackles, tell me where Tommy Kelly checks in.

Yet the Raiders must believe they have the next Warren Sapp, otherwise why would they spend so lavishly and so recklessly on the guy?

"I don't know," said an NFC general manager. "What they're doing makes no sense, and I haven't even gotten around to the value of the players in the marketplace. There is no explanation for all of this."

Kelly re-signed for a deal that includes a $13 million signing bonus and a $4.5 million roster bonus in 2009. His cap number next year is $9.166 million. High? Yes. But Walker's cap figure in 2009 is $10.833 million -- for a player who missed half of last season and whom Denver coach Mike Shanahan said might need microfracture surgery.

To put his numbers in perspective, look what New England did to keep wide receiver Randy Moss. The Patriots signed him to a three-year deal that averages $9 million per, with a $12 million signing bonus.