Ever since Daniel Snyder became owner of the Redskins in 1999, the team has had a reputation of overpaying for free agents.

Snyder basically gave his money away to guys like Albert Haynesworth and Adam Archuleta, because he definitely didn't get much in return for those two. The Redskins also once gave a hefty contract to Deion Sanders, who only lasted one season in Washington.

Needless to say, you can't blame any Redskins fan out there if they were a little nervous after hearing that their favorite team dropped $75 million on Josh Norman in a five-year deal.

So should they be nervous?

Let's take a look at the contract.

The most important part of any NFL contract is the fully guaranteed money at the time the contract's signed. CBS Sports NFL Insider Jason La Canfora has reported that Norman's guaranteed number is $36.5 million. That money comes in the form of a $15 million signing bonus and a fully guaranteed salaries in 2016 ($5 million) and 2017 ($16.5 million). 

In Year 3 of the deal (2018), Norman is due a $13.5 million base salary that will become fully guaranteed if he's still on the roster in March 2018. Norman is also due a per-game roster bonus in both 2017 and 2018, which can add a total of $500,000 each season, so if he makes it through the first three years of the deal and plays in every game, he'll walk away with $51 million. 

On Norman's end, those numbers make him the highest-paid corner over the first three years of a deal. 

As long as Norman is productive for those three years, the deal is win-win. Obviously, it's a win for Norman because he got paid big time, and it's a win for Washington because they'll get a productive corner.

If Norman only plays those three years, he'll walk away with an average of $17 million per year.

In 2019, Norman will be 31, which isn't a great age to be an NFL corner. If the Redskins find that Norman's lost a step, they can cut him loose and only take a $6 million cap hit -- a move that would actually save them $5 million, because Norman is due an $11 million base salary in 2019. 

In the final year of the deal (2020), Norman is due a $12 million base salary. 

If Norman plays out his contract and ends up being productive for all five years, then the Redskins will be getting him at a great bargain over the final two seasons of the deal. 

Norman's deal (Via Spotrac/Pro Football Talk):

2016: $5 million base salary, $500,000 in per game roster bonuses ($31,250 per game)

2017: $16.5 million base, $500,000 per game roster bonuses

2018: $13.5 million base, $500,000 per game roster bonuses

2019: $11 million base, $500,000 per game roster bonuses

2020: $12 million base, $500,000 per game roster bonuses

Norman's $15 million signing bonus is spread out over the life of the contract, so the Redskins will take a $3 million cap hit per year for the bonus.

The good news for Norman is that he'll be making way more than $13.95 million in 2016, which is what he would've made with Carolina if he had signed his franchise tender.

The other good news is that he just set a new contract standard for corners.

The $15 million per year average is also tops in the league, just ahead of Darrelle Revis ($14.02 million per year), Patrick Peterson ($14.01 million per year) and Richard Sherman ($14 million per year).

Josh Norman is making some serious money in Washington. (USATSI)
Josh Norman is making some serious money in Washington. (USATSI)