The Vikings have yet to exercise quarterback Christian Ponder’s fifth-year option for the 2015 season, according to the NFL Players Association’s records. The deadline to do so for 2011 first round picks is on May 3.

Some teams have already done so: The Texans picked up defensive end J.J. Watt option, the Chargers exercised defensive lineman Corey Liuget’s option, the Jets picked up defensive end Muhammad Wilkerson’s option and the Ravens did the same with cornerback Jimmy Smith. The Cowboys will reportedly pick up offensive tackle Tyron Smith’s option as well.

The 2011 draft is the first class to go through the fifth-year option process since the new collective bargaining agreement. The top ten picks have their salaries decided by the average top ten highest salaries for players at the same position the previous year.

In Ponder’s case, he falls in the next category as the 12th overall pick. The same formula is used for picks 11-32 except it’s the average of the third through 25th highest salaries last year.

Watt, who was selected just before Ponder, will receive $6.96 million in 2015 based on the third through 25th highest defensive end salaries.

Of course for quarterbacks, that number will be larger. Crunching the numbers, it’ll cost the Vikings around $10 million when looking at the quarterback salaries from Ravens quarterback Joe Flacco (third) down to Cardinals backup quarterback Drew Stanton (25th). It isn’t fully guaranteed however unless Ponder is on the roster on the first day of the league year. However, it is guaranteed if Ponder gets injured.

Vikings general manager Rick Spielman declined to discuss the possibility of fifth-year option for Ponder at the NFL Combine in February. When asked if there’s a reason would not option a player just to retain his rights, Spielman said, “Those are things that we’ll discuss internally.”

It'd be surprising if it happens given Ponder's production and there doesn't seem to be much value in excercising the fifth-year option. At $10 million, it'd be difficult to trade Ponder. Outside of that, the only other option would be to cut him before the 2015 NFL calendar begins.

The Vikings will look to draft a rookie quarterback in the draft and signed Matt Cassel to a two-year deal in the offseason. Ponder seems to be the odd man out in the team's future plans.