Yesterday, I explained how the Patriots trade for Randy Moss was a very low-risk, high-reward venture. That wasn’t the only move the Patriots made that made me think about personal finances.
On Saturday, the Patriots made another trade that surprised me. The team traded their #28 draft pick to San Francisco for their next year first round draft pick and a fourth round draft pick in this draft. For those unfamiliar with how sports drafts work, it’s a lot like the deli counter – the lower the number, the better. San Francisco had the #11 this past year and while they are projected to be a better team, very few people expect them to have a pick later than #20 next year.
The Patriots coach had this to say about the draft and in particular this trade, “…we got some picks for next year that put us in a pretty strong position whether we actually decide to exercise those or use them to acquire other players or whatever they are, but that’s good currency…”
What was that last word? Currency. Draft picks are a form of currency in sports that can be traded for talented players or used to select valuable prospects. What the Patriots did here is simply invest the #28 pick for pick that will likely be less than #20 next year as well as the #110 pick in this draft. This #110 pick was traded for Randy Moss as I mentioned yesterday. It’s another case where the Patriots were willing to live like no one else today, to live like no one else tomorrow. Looked at from the San Francisco side, they basically broke out a credit card to get what they wanted today. They will pay this debt off with their draft pick next year – but with a lot of built-in interest.