The Colts ink a deal to make Dwight Freeney highest paid player in NFL history

Dwight Freeney is a disruptive force on defense, one of the most dynamic pass rushers in the NFL. And now his pay is reflecting that.

Freeney signed a six-year, $72 million contract (about $12 million per year) with the team Friday that includes a $30 million signing bonus, effectively making him the highest paid defensive player in NFL history.

“To have me paid among the top players in the league — not just as a defensive players — means a lot of me,” said Freeney. “[Colts general manager] Bill Polian is the one who drafted me. I was hand-picked by him. He was going to do the right thing for the organization.”

It was a great move by the Colts to secure Freeney. Though 2006 may not have been his best campaign, Freeney has sacked quarterbacks a total of 56.5 times since entering the league in 2002, including a four season stretch from 2002-05 in which he averaged nearly 13 sacks per season.

Does he deserve to be the highest paid defensive player in NFL history? That’s debatable. Despite being a great player who has defied the odds — he’s undersized at 6′1, 268 pounds — is he worth more than players like Ray Lewis, Brian Urlacher, and Champ Bailey? Clearly the Colts think so.

Unfortunately for a few other franchises around the league, Freeney’s new deal spells trouble. Several other notable pass rushers in contract negotiations — namely, New Orleans Saints defensive end Will Smith, Carolina Panthers defensive end Julius Peppers, and Baltimore Ravens linebacker Terrell Suggs — were awaiting the results of Freeney’s deal before proceeding with their own deals.

What do you think? Is Freeney worth the cash? Is any defensive player worth that much?