Boiler Jim
Saint Boilermaker
Offline
As I understand it:
The contract extends the existing agreement by 4 years (5 more years) giving Drew $44.25m in the first two years of the deal... but reducing his cap hit to $17.5 this year, from $30m.
He is to receive compensation (salary plus bonus) of $20m this year and $24.25m next year.
To get to these numbers it must be true that Drew is receiving a good sized signing bonus. I can't tell how much because I don't know what his salary will be each year and I am not clear on how far that the existing $10 million cap hit can be spread into the future. But what I do know is, however many millions that new bonus is, the Saints are spreading it over five years, from a cap perspective, instead of the the two years the contract will be in force.
Has anyone else ever done this? The auto void after 2 years appears to be done SOLELY to circumvent the NFL rules on cap space calculation.
I think there is a real chance the NFL will take issue with it.
Perhaps Superchuck500 can comment on my concern.
The contract extends the existing agreement by 4 years (5 more years) giving Drew $44.25m in the first two years of the deal... but reducing his cap hit to $17.5 this year, from $30m.
He is to receive compensation (salary plus bonus) of $20m this year and $24.25m next year.
To get to these numbers it must be true that Drew is receiving a good sized signing bonus. I can't tell how much because I don't know what his salary will be each year and I am not clear on how far that the existing $10 million cap hit can be spread into the future. But what I do know is, however many millions that new bonus is, the Saints are spreading it over five years, from a cap perspective, instead of the the two years the contract will be in force.
Has anyone else ever done this? The auto void after 2 years appears to be done SOLELY to circumvent the NFL rules on cap space calculation.
I think there is a real chance the NFL will take issue with it.
Perhaps Superchuck500 can comment on my concern.