As explained last year, the NFL’s collective bargaining agreement provides that most rookies sign four-year contracts. But teams were granted a club option for a fifth year for all players selected in the first round. Note that the option is only guaranteed for injury, however, so a team can exercise the option for 2012 first round picks and still release the player at the end of the 2015 season.

For players in the top ten, that fifth year salary is equal to an average of the top ten highest-paid players at their position from the prior year. For players selected with picks 11 through 32 — and for the second straight year, the number 11 pick has produced one of the most valuable players from the class — the fifth-year deal is worth an average of the salaries of the players with the 3rd through 25th highest salaries at their position.

The deadline for exercising the fifth-year option on 2012 first rounders is May 3rd. As a reminder, here is a review of the first round of the 2012 Draft:

As we did last year, let’s group these players into five categories.

Not Eligible (5)

Trent Richardson was released by the Colts (his trade from Cleveland did not eliminate the ability to use the option, but his release did); he’s currently on a new contract with the Raiders. Cleveland’s other first round pick, Brandon Weeden, was also released. San Francisco’s A.J. Jenkins was released by the Chiefs after a trade, while David Wilson has retired. As for Justin Blackmon, his contract tolled when he was indefinitely suspended by the NFL, pushing out his option year.

Obvious Stars (7)

Andrew Luck is the star of the group, of course, but Luke Kuechly and Dontari Poe have each made a pair of Pro Bowls. Indianapolis, Carolina, and Kansas City have known for awhile what they were doing here. Teams are taking their time this year in picking up the option: Luck and Kuechly ^[1]And Carolina waited until just two days ago to make it official. are the only two of the six names on this list to have their options officially exercised (although Albert Breer has reported that the Chiefs have exercised Poe’s option).

The next four names aren’t Andrew Luck no-brainers, but I’d be shocked if their options were declined. Two of those players are Patriots: Chandler Jones and Dont’a Hightower. Of course we aren’t going to hear any news out of Foxboro until it’s official, but there’s no reason to think the Patriots won’t be picking up both options (unless longer-term deals are instead struck). Hightower, while recovering from a torn labrum, is one of the best inside linebackers in the NFL. Jones may be the team’s best pass rusher and just turned 25 years old: you don’t let players like that go.

For the Vikings, exercising the option on Harrison Smith is obvious. He’s one of the best free safeties in the NFL. Minnesota’s other first round pick, though, presents a much tougher challenge.

It would be shocking if Fletcher Cox doesn’t have his option exercised, although nobody can predict what will happen with the Eagles. He’s turned into an excellent 3-4 defensive end, and those guys aren’t just allowed to hit the market when a cost-controlled option is available. It’s possible that Philadelphia will trade Cox during the draft, though, but then his new team would be in place to exercise the option. Either way, Cox won’t be hitting the free agent market in 2016.

Update: As reported by the team, Philadelphia did in fact exercise the option on Cox.

Already Had/Reportedly Will Have Option Exercised/Long-Term Deal (11)

Believe it or not, the Colts were not the first team to exercise the fifth year option this year: that award goes to the San Diego Chargers, who did so on April 7th for the underwhelming and injury-riddled Melvin Ingram, who has just six sacks in his NFL career. Two days later, the Colts picked up Luck’s option. The same day, the Steelers exercised the option on David DeCastro, who has turned into one of the league’s top guards after suffering a serious knee injury in the preseason of his rookie year.

On April 11th, the Jets exercised the option on Quinton Coples, an inconsistent player who has been perhaps set back by constant position switching. The talent is obviously there, but count me in the camp that still thinks Coples is being wasted as a 3-4 outside linebacker. ^[2]Coples had his best season in college when playing defensive tackle, and he has come close to (if not hit) the 300 pound mark in his career. Perhaps Todd Bowles can help resurrect his career. Given his age — Coples doesn’t turn 25 until June — there was little reason for the Jets not to pick up his option.

Buffalo cornerback Stephon Gilmore has been given the verbal yes, so the official transaction is probably not too far away. And Tennessee will be picking up the option for Baylor’s Kendall Wright, as reported by Jim Wyatt. Things are not so clear with the other former Bear from the first round of this draft.

Last year, I called Detroit’s decision not to pick up Nick Fairley’s option as baffling; in hindsight, that decision looks even worse. The Lions are not going to make that same mistake, as Detroit just picked up Riley Reiff’s option.

Omar Kelly has reported that Miami will pick up Ryan Tannehill‘s option, but it hasn’t happened yet. Still, I’ll count him in this group since whatever you think of Tannehill (and I’m lower on him than most), it would be crazy for the Dolphins to not exercise the option by May 3. If the Dolphins don’t, what exactly would they be hoping for out of Tannehill for 2015? Then again, this wasn’t exactly a vote of confidence from team vice president Mike Tannenbaum. My hunch is the delay is more about working out a long-term deal than genuinely struggling with the decision, as no team wants to enter the season with a lame duck quarterback.

The Bengals have two first round picks, and Cincinnati appears intent on signing long-term deals with Dre Kirkpatrick and Kevin Zeitler rather than exercising the fifth year option. That may not happen in time, but don’t expect the Bengals to let May 3rd come and go without locking up both players one way or another. Both players deserve it on the merits, but it doesn’t hurt that Cincinnati has the second most cap room available among all teams for the 2016 season.

Update: On April 27, Albert Breer reported that Washington will in fact exercise the option on RG3

Update: On April 27, Jim Thomas reported that St. Louis was picking up the option on Michael Brockers, as expected. That means that three of the four players with the highest cap hit on the ’16 Rams are defensive linemen (and that’s assuming Fairley isn’t back).

Will Not Have Option Exercised (5)

According to Brandon George of the Dallas Morning News, the Cowboys won’t pick up Morris Claiborne’s option, which makes sense to me.

The Bears will not pick up the option on Shea McClellin. Source: my eyes, although there’s an argument that, when in doubt, teams will err on the side of exercising. Still, I don’t see any doubt involved when it comes to paying McClellin $7.7M in ’16.

The same source goes for why Green Bay will pass on Nick Perry and Tampa Bay won’t pick up the option for Doug Martin. These ones are no brainers given the amount of money at risk.

Update: on April 27, Jim Thomas reported that St. Louis was not going to pick up the option on Mark Barron. (h/t @wynnde13)

To Be Determined (4)

The Rams also have two first round picks: Michael Brockers and Mark Barron, acquired via trade from Tampa Bay. Picking up the option on Brockers would seem like an obvious move, although I suppose one could argue that St. Louis drafting Aaron Donald and signing Nick Fairley in the last 12 months might mean management is not in love with Brockers. The smart money is on the Rams exercising Brockers’ option, which would mean that three of the four players with the highest cap hit on the ’16 Rams would be defensive linemen (and that’s assuming Fairley isn’t back).

In addition to getting to use the option on Brockers, the Rams also inherited the right to use the fifth year option on Mark Barron, because St. Louis acquired his contract via trade from Tampa Bay. The option would cost about $8.2M according to Joel Corry; I know the Rams like him, but that’s a lot of cash. Barron has done little to justify over $8M in 2016, but the Rams certainly do have the cap space, so who knows. The risk is probably low, so St. Louis may err on the side of exercising and just cut Barron after the season if his play doesn’t improve.

Michael Floyd in Arizona seems to be on the verge of having his option not picked up, according to Kent Somers. As discussed, teams should err on the side of picking up the option, and Floyd is a good enough player that it would be very risky to decline the option. Reading the tea leaves, it sounds like the Cardinals may be trying to send a message to Floyd to motivate him, but what good does it do if he has a great year and then signs elsewhere?

Whitney Mercilus actually has more more career sacks than Coples or Ingram, who already had their options picked up. Houston has been mum on Mercilus, but among first rounders from 2012, only Jones has more sacks. Any intrigue here regarding his option was probably eliminated once Jadeveon Clowney underwent microfracture surgery. I’ve put Mercilus in the TBD status because Houston has been mum on the topic, but unless the Texans draft a pass rusher in the first round, I’d be surprised if Mercilus doesn’t have his option exercised.

Seattle is also choosing not to reveal what it will do when it comes to the option for Bruce Irvin. Drafted as a pure pass rusher, Irvin has turned into a more balanced 4-3 outside linebacker, although perhaps not one worth $7.8M given Seattle’s increasingly limited cap situation (there’s a quarterback in need of a new contract out there, as you may have heard). It appears as though the Seahawks plan to see what happens in the draft before deciding on Irvin.

That leaves the two most interesting names on the list. The most interesting name remaining on the list is the 4th overall selection from 2012. Matt Kalil is not very good, and he’s been declining since a strong rookie year. Minnesota could extend him to save face on a bad pick or because trying to find a good left tackle isn’t easy, but Kalil was barely above replacement-level last year. There’s no chance he’s worth $11M in 2016 absent a dominant season in 2015. But since the option is guaranteed for injury only, it wouldn’t shock me if Minnesota exercised it under the assumption that his likelihood of reverting to an above-average player is higher than his likelihood of being forced to miss 2016 due to injury. Will Minnesota look to draft a tackle this week? There’s no reason to rush this one, and my hunch is the Vikings wait until May 2nd or 3rd before deciding.

And then there’s RG3. I would ask how does one go from AP Offensive Rookie of the Year and 2nd overall pick to not having his option exercised, but you all know the story by now. Expect Washington to see what happens on draft day before deciding, but there are two factors that make Griffin’s case trickier than most.

For one, his fifth year option still brings a salary of $16.5M, an enormous sum for a player who has been a well-below average passer — and benched — in each of the last two years. And while erring on the side of exercising makes sense for most teams, Griffin is obviously a legitimate injury risk. If he suffers an injury that causes him to miss all of 2016, Washington would be on the hook for the full $16.5M. Of course, not exercising has its own risk: at that point, it almost feels better to just go in another direction at quarterback or even trade Griffin rather than decline the option but enter the season with Griffin as the starter. The fallback option is Washington could use the franchise tag on Griffin if he winds up having a big year and the team chooses this week not to pick up his option; while more expensive than the fifth year option, using the franchise tag as a safety net eliminates much of the risk. This is truly one of the toughest calls to make, a sad outcome given how things looked at the end of the 2012 regular season.