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spagsbacker
if you just draft good football players you don't need to worry so much about whose contract expires in what year. You just build a deep roster by drafting good players. See Baltimore for the ultimate blueprint. By calculating who hits free agency when, you end up drafting mediocre players because you reach during the draft for guys like Everett, Noteboom, and Brian Allen.

You draft for need, you draft for potential need, you draft for value. A lot of ways to go about it, I'm not sure there is a "right" way as long as your scouting is good.
I don't think Jefferson is a bad player. I suspect he's a vey good player, just seems like a luxury. However, they did exactly like you suggest, they ultimately drafted a good player at a position of strength, regardless of their need.

As for the Ravens: 2 Super Bowls in 19 years. The Rams: 3 Super Bowls in 20 years. And by all measures Ozzie Newsome was an outstanding GM. The gold standard is the Patriots whose philosophy is to replace players at the end of their contracts.