Posted by Will Brinson
There's been plenty of action in free agency thus far (don't forget to follow it all in our live, updating Experience and with our 2011 NFL Free Agency Tracker!), but it also warrants mentioning that there have been a good number of first-round draft picks signed by various teams over the past few days.
Interestingly, many of these players who are signing have received fully guaranteed contracts, something you don't typically see with rookies, even though the total contracts, because of the new rookie wage system, are coming in lower than previous years.
For instance, the Cowboys signed Tyson Smith, their top pick, likely right tackle for 2011 and eventual successor to Doug Free, to a four-year, $12.5 million deal which is entirely guaranteed. By contrast, C.J. Spiller, taken in the same spot last season by the Bills, received a five-year, $25 million deal with $20.5 million guaranteed.
The Bengals signed Georgia wideout A.J. Green to a four-year, $19.6 million deal, all of which is also guaranteed, according to the Cincinnati Enquirer's Joe Reedy. (Trent Williams, by contrast, got $60 million with $36.5 guaranteed out of the No. 4 slot from the Redskins in 2010.)
The 49ers reported via Twitter that they've signed all their draft picks, including second-round quarterback Colin Kaepernick (four-year deal) and first-round defensive end Aldon Smith. Financials haven't been put out yet.
The same goes for the Buccaneers, who signed first- and second-round picks Adrian Clayborn and Da'Quan Bowers (deets on the monies aren't out yet last I checked).
In Denver, Von Miller is "expected" to sign a four-year, $21-million deal with the Broncos soon. He probably would have seen up to $50 million more (not all guaranteed, of course) under the old rookie salary system. The ironic part? He was a named plaintiff on the Brady v. NFL lawsuit. It's worth noting that Miller's not sweating losing any pile of money and says he "plans on getting three, four, five contracts."
[(UPDATED 4:47 p.m. ET): John Elway confirms the team has agreed to terms with Miller. Wrote Elway on his Twitter feed: "Can't wait to get him on the field."]
The final thing to remember as the first-year player contracts start to come in? There's a fifth-year team option built into these four-year deals, and that deal must be picked up by the end of the third year or else the amount owed balloons to an average of the top-10 salaries at the position.
If a player performs well in his first three seasons then, he stands to either get locked for a fifth year or find himself inked to a new contract sooner than he expected.
Everything's not all roses, though. Agent Jack Bechta writes at the National Football Post that some teams are utilizing dollars for later-round picks and allocating them towards first rounders. It's not happening often, at least right now, but Bechta cites it as a "disturbing trend" because it's something that could potentially create a false inflation system for first-round picks as agents try to get more money than the player drafted the previous year.
There's not telling how often that will happen going forward, but it's still a bit concerning as the rookies current wages are pushed back because of the new CBA.
On the bright side, if shifting salaries does happen, it's a lot less likely that JaMarcus Russell remains the biggest NFL Draft bust forever. So there's that.
UPDATED 7:48 p.m. ET: The Jaguars have announced that No. 10 overall pick, QB Blaine Gabbert, has signed his contract.
UPDATED 11:14 p.m. ET: No. 13 pick Nick Fairley has signed a four-year deal worth about $10 million with the Lions.
For more NFL news, rumors and analysis, follow @cbssportsnfl on Twitter and subscribe to our RSS Feed.