Thank you for this. I knew there would be significant saving if he retired NEXT year but wasn't sure of how much.The way I see it.
Retires Now:
Cap hit increases from 12.29 million to 35.36 million. A 23.07 million increase in his cap cost.
Saints would need to create a lot of space to get under the cap. No future cap hits.
Retire After June 1st:
Cap hit this year stays exactly the same.
Dead Money cap hit 2025 of 23.07 million. A cap savings of 6.02 million.
Retire After June 1st next year:
Cap hit this year stays exactly the same.
Dead Money cap hit 2025 of 11.08 million + 1.2 million base salary (this goes away after June 1st.). Cap savings of 18 million.
Dead Money cap hit 2026 of 11.98 million. No future cap hits