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Von would've gotten MUCH more on the open market. If you asked anyone back in March what Von was worth they'd tell you anywhere from 18 to 22 million per year, Elway got him for $19.08M per year. The guaranteed money doesn't matter because we weren't going to cut him within the first 3 years anyways.
Elway didn't get Von to take a discount but he didn't overpay either.
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