That said, AJ Smith seems too smart to let him for walk for nothing . . .
He wouldn't be walking for nothing. He'd be playing a whole season first, and then he'd bring in a compensatory pick after he leaves.According to the Thaler and Massey paper that Doug Drinen has been discussing recently on his
blog, a mid first-round draft pick is worth a "surplus value" (i.e., the true value of a drafted player's performance based on what a free agent of his skill level would make, minus what the drafted player is actually paid) of somewhere around $650,000 per year. For a first-round draft pick who signs a five-year contract, his expected surplus value is about $3.25M, total, over the five years he is under contract.
Personally, I think Thaler and Massey underestimate the surplus value of draft picks, especially at the top of the draft. But if we take their estimates as being roughly correct, you can see why the Chargers should be in no hurry to trade Turner, even for a first-round pick.
Turner would probably make about $6M this year on the open market, IMO. The Chargers have him for $2.35M. That's a surplus value of $3.65M, and they realize it all in 2007 so it doesn't have to be discounted.
So using Thaler and Massey's numbers, keeping Turner for a year at $2.35M, just by itself (without even factoring in a compensatory pick), may be worth more than a first-round pick in this year's draft.
That's not to say that I agree with that conclusion -- but I do think it correctly emphasizes that having Turner's services for this season is not "nothing."