Cap Specialists Discussion about MT, Taysom, and AK (1 Viewer)

[Covington Saint]

Can some gurus explain the complexities of options of the above players as it relates to Trading, June 1st cutting, or a restructure of sorts?

I saw an article that alluded to June 1st cutting was all but a certainty regarding MT but that makes no sense when doing the calculator on OTC. Saves nothing next 2 years.

What voodoo can be done by Loomis in a trade? Can a contract restructure be done that makes it more cap friendly for us trade any of the above players but we accept less compensation? I think Taysom can be a prime candidate for that if possible.

 

[Taker597]

MT is most certainly a Post june cut with the 50 million 2024 cap hit.

Not a trade able contract

 

[RJS]

https://overthecap.com/looking-ahead-to-the-saints-2023-salary-cap

This is a pretty well done piece from October. He was right on the Michael Thomas prediction.

 

[Covington Saint]

MT is most certainly a Post june cut with the 50 million 2024 cap hit.

where you seeing this?

 

[Taker597]

where you seeing this?

18 million base salary and 32 million roster bonus that becomes GTD this year according to Nick

 

[Rouxble]

where you seeing this?

A post June 1 designation should cost us $12m this year and $14m next, the $50m only comes into play if he is still on our roster on March 17.

 

[Covington Saint]

18 million base salary and 32 million roster bonus that becomes GTD this year according to Nick

Ah. Forgot about that part. Bye Mike. His June 1st cut doesn’t change our current cap numbers much at all next 2 years though. Just a necessity to avoid the March bonus.

 

[Domeination]

The team is definitely cutting bait with Thomas. He's barely played in 3 seasons and cost a fortune and would cost even more to retain.

 

[Westbank4Life]

it's simple .....we are cashed strapped. Expect no miracles.

However an AK trade would be interesting....

 

[mr.t]

it's simple .....we are cashed strapped. Expect no miracles.

However an AK trade would be interesting....

Keeping Brees messed us up

 

[BBarnes]

They already worked his contract to save money this year

From NH

Thomas had his base salary reduced from $15.5 million to $1.165 million while adding a $31.755 million roster bonus that is due on March 17, as first reported by ESPN’s Field Yates. Thomas was given a $902,941 signing bonus to sign the deal.

So, what does this mean? We floated something like this as a possibility for Thomas’ deal back in November. Basically, this temporarily lower’s Thomas’ cap number by about $14 million. And what it almost certainly means is that Thomas got cut on paper with the official move to follow. This is the same type of deal that Drew Brees and Malcolm Jenkins did before retiring.

What this maneuver does is allows the team to stop carrying Thomas’ $15.5 million base salary on the cap. Without the deal, even if the team wanted to cut him, it would have happened after June 1, and that total would have remained on the books until then. Since Thomas was never going to get that money, the team can now walk away from this deal by designating Thomas a post-June 1 cut and he will only count as about $12 million against the cap instead of $28 million.

Thomas would then count as about $14.3 million against the cap for 2023 when he gets released after June 1. The reason for waiting after June 1 is because you can split some of the dead money over two seasons. Any moves before then require a team to eat the amount on that year’s cap.

What’s the incentive for Thomas to agree to this? He guarantees his release by a specific date and gets an extra $900,000 for playing ball. A trade could happen but it would be difficult since it would have to happen prior to March 17 and there would be no post-June 1 benefits. Trading Thomas before June 2 would result in a 2023 cap charge of about $26 million in dead money.

 

[Clintonrebel]

When we locked down MT and AK, we were all pretty thrilled. Same for bringing back Brees for another two years. It just didn’t pan out like we hoped. And we are still paying for all of the maneuvers it took to get them done.

It hurts, but the vast majority of fans supported it at the time.

 

[Rouxble]

I don’t think Hill or Kamara are bad hits for 2023 and we can get out of those contracts without much pain in 2024 with no restructures. We have bigger cap hits from Jordan, Lattimore, Ramczyk, and Peat.

I know Peat isn’t a fan favorite, making Peat a post June 1 cut saves $12m this year and leaves us with a dead cap hit of $10m next year.

 

[Wheelo]

The team is definitely cutting bait with Thomas. He's barely played in 3 seasons and cost a fortune and would cost even more to retain.

That's actually not true. Michael's contract was very cap friendly and he's averaged less than $16M/season if we don't pay out his $50M bonus. The contract was/is a steal for that caliber of player. Sucks he got injured, but any person with half a brain would've signed Mike to that contract. Also, that's the crappy part about backloading contracts and restructuring money. It doesn't leave any room for negotiating and potentially bringing the player back on a cheaper deal. Who wouldn't want Mike back next season on a cheaper deal that makes sense for 2023? Hopefully that's rhetoric but you never know around here anymore...

 

[jayd265]

it's simple .....we are cashed strapped. Expect no miracles.

However an AK trade would be interesting....

curious how much AK would get saints in return with a potential 6 game suspension looming.

didnt hurt watson. but qb is way more of a needed position than a rb.