I know I'm a little late to the party, but as someone who considers himself to be a sports knower, I figured I should probably get my thoughts on the Khalil Mack deal on the record
—this site has a notary on staff, right?
—so that in the future, everyone will be clear as to just how little insight I have into this shit.
Before we fully get into it, virtually every statement of value that follows should be read with the understood caveat,
Barring a catastrophic injury to Khalil Mack. That risk is certainly a part of the equation when trading a number of players
—even in pick form
—for one guy, but it also seemed ridiculous to throw that in 17 different times over the course of this post.
I also felt compelled to write about the trade in part because I was
surprisingly dissatisfied with the analysis of it by the normally
astute Bill Barnwell, who I regard as the best NFL writer around. From
Barnwell's analysis:
Teams rarely trade two net first-round picks in moving up for rookie
quarterbacks, who offer the most surplus value of any player in the
league. The moves up for Patrick Mahomes and Deshaun Watson,
for example, included two first-round picks in a swap to move up for
one first-round pick.
Sorry, Bill, but that makes no sense. Those teams didn't trade a net of
two picks only because they got a pick instead of a player in return.
The end result was the same: both the Chiefs and the Texans traded two
first round picks to acquire one guy. While I get that acquiring a
player on a rookie contract can have a lot of value, there's also a
much greater likelihood that guy bombs out. Mack is the surest of sure
things. There's also this:

Essentially, the Bears are
getting Mack a year early. Additionally, if this trade had been
consummated on draft day like Mahomes and Watson's deals, the Bears
would have given up Roquan Smith and Kylie Fitts (plus next year's 1st
and 3rd). Instead, they keep all three for this year. Getting that
extra year of your own picks—and also, only losing a 6th next year
instead of a 3rd—PLUS AN EXTRA YEAR OF KHALIL FREAKING MACK provides
the Bears a substantial amount of surplus value. By the end of the 2020
season, the Bears will have gotten three seasons out of Mack, and the
Raiders will have gotten three seasons—two rookie, one second year—out
of Chicago's two first rounders. There is virtually no way Mack
doesn't provide the Bears far more production over the course of those
three seasons.
I intentionally chose the word production there, because value is
a much more complex concept. And here's what Barnwell had to say about
paying Mack market value as one of the premier defensive players in
the NFL:
Unless he's the Defensive Player of the Year four seasons in a row,
the Bears aren't going to get much at all in the way of surplus value on
this contract. At best, given the way the top of the defensive market
will grow, they're probably looking at $10 million to $15 million over
the next four to five years if everything breaks right. ... Paying two first-round picks for the right to possibly gain $15 million in excess value just doesn't make economic sense.
He's right, to an extent. But constructing a team is not a simple
accounting exercise, and at some point, overall talent level matters.
Even with their recently signed, market-value extensions, would Aarons
Rodgers and Donald not command a huge return if they were on the
market? Of course they would, because to win, you need impact players.
You could have a team of nothing but players on seventh-round rookie
deals who each deliver third round production, but all that "surplus
value" isn't going to win you squat. At some point, you need guys in
various spots—particularly at high-impact ones like QB or, say, edge
rusher—who are going to produce at a much higher level than others who
play their position.
With that out of the way, let's move onto the picks, particularly those
in 2020, because that's what really stood out to me when I learned the
details of the deal. While I would love to know exactly what has to
happen for the Raiders 5th rounder to be included, I have been unable
to find the conditions anywhere; if you've come across that
information, please share it in the comments. Without anything to go on,
I'm going to assume the pick only conveys if Mack is unable to play a
certain number of games, meaning we should probably all be rooting for
it not to happen. Because of that assumption, I'm also looking at this
as if the Bears will not get the pick, because if they do it probably
means a poor outcome that's unlikely to be salvaged by a single Day 3
selection.
To compare the various picks, I'm using Chase Stuart's more-accurate-than-Jimmy-Johnson's-version-that-he-used-to-try-to-bamboozle-stupid-front-offices-into-giving-him-a-king's-ransom-for-higher-picks
draft value chart, which is based on five-year approximate values.
I've assigned a draft position to the picks by creating tiers and then
taking the approximate average selection for each. Contenders (the 12
playoff teams) choose 21st to 32nd, so I've chosen pick 26. On the other
extreme, for the bottom 12 teams in the league, I've chosen pick 6,
while pick 16 represents a middling team. Here's what that looks like
(I've highlighted the good outcomes for the Bears in green, the bad in
red, just like a real adult business person professional work product
dashboard!):
Looking at the extremes, if this trade helps boost the Bears to
contender status while the Raiders struggle under Coach Hooter Ogler,
the difference between the 2nd round pick the Bears receive and the 1st
they give up will amount to a late 5th rounder. Or if you add that 2.5
points to the 3rd rounder they're giving up, it's equal to a late 2nd
round pick. And Khalil Mack for a 1st and a 6th a year from now, and a
2nd in two years is an insanely good deal.
However, if the outcomes are
reversed and the Bears continue their devolution into Brownsdom while
the Raiders recreate their Chucky glory days, then the Oakland 2nd is
nearly canceled out by the Chicago 3rd. Deducting that 1.2-point
differential basically lowers the value of the Bears first-round pick by
a single slot. Which makes the deal far less good from a value
perspective and also a massive disappointment, because the whole point
of acquiring Mack was to springboard the Bears back to relevance, not to
continue to be a steaming pile that selects near the top of the draft.
And so, whether this ends up
being a great trade or near-disaster is almost totally dependent on
Mitchell Trubisky, actually. If Trubisky is the franchise quarterback
the front office believes him to be—and don't get me wrong, I'm highly
skeptical that he is—the team will be a contender and this will end up
being a very good deal. If he's not, well ... I'll still consider it a
decent trade, but only because I am supremely confident this franchise
would have botched those picks anyway.