Ranking the 10 most overpaid NFL veterans

The 2016 cap hits for Eli Manning and Clay Matthews outweigh their recent production. Icon Sportswire

It happens every year: Players who used to be highly coveted see their play decline and are no longer worth what they're getting paid.

Last week, I looked at the NFL's most underpaid veterans, and now it's time to look at who qualifies as the most overpaid. To do that, I compared each player's 2016 cap hit (according to OverTheCap.com) to the Jahnke Value Model, which determines what a player is worth based on performance.

In some cases, a player hasn't lived up to his contract simply because of injury, and for the purposes of this list, those players were ignored; we're not having bad luck count against them. That leaves the players who aren't playing as well as their contracts suggest they should be.

Of the players on last season's list, two are retired, two were cut and two are back with their teams on pay cuts. In some cases, a player's reputation is so big that he will likely remain overpaid for multiple seasons. In other cases, it wouldn't be surprising if he is playing elsewhere at a lower salary in 2017.

1. Eli Manning, QB, New York Giants