Salary Cap... To the CENT! (1 Viewer)

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Mickey Loomis can do things in Excel none of us could ever dream about.
 
NOLAnuffsaid said:
WOW! We have $30 million wrapped up in 3 ppl :jpshakehead:
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Not really that uncommon. The Patriots have more than that wrapped up in Brady, Mankins and Wilfork. The Packers have almost that much in Rodgers, Woodson and Finley. The Cowboys have over $40 million in Romo, Ware and Carr. I picked those three at random and my guess is you could do that for nearly any team.
 
Saints have Loomis, what is everyone freaking out about? He's shown time and time again that he's a genius at working the salary cap. Everything will be fine come March 14
 
DaveXA said:
Good point, but he could be released and then re-signed to a new, more cap friendly agreement. Same for Will Smith. Restructuring isn't the right word for their situation. Regardless, Loomis will find a way to make it work. He has in the past and I don't see why he wouldn't be able to now.

Of course, my real point is that the current cap number will change quite a bit before opening day.
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Both were restructured last year, so the bulk of what would have been their 2012 base salaries is now spread out over the remainder of their contracts. We could renegotiate with them for a lower base salary, but all of their bonus monies would still count on the cap, just as it would if we released them.
 
Am I looking at this right? It says that Roman Harper's cap number is 7,100,000 and his dead money is 6,100,000. Does that mean that if we cut him we'd only save a million dollars towards the cap?
 
RockyMtnSaint said:
Am I looking at this right? It says that Roman Harper's cap number is 7,100,000 and his dead money is 6,100,000. Does that mean that if we cut him we'd only save a million dollars towards the cap?
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But his dead money would be split over the remaining years of his contract, right? So it'd be 3 and 3.
 
RockyMtnSaint said:
If we cut him the dead money is due this year (i.e., counted against this year's cap). If we keep him it's spread out over the life of the contract.
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I don't know. I'd be guessing. I could have sworn that the dead money was spread over what would have been the life of the contract since he's already been paid the bonus money anyway.

Here's a Steelers blog explaining how dead money is dealt with. My brain feels like mush and I can't comprehend anything right now. Tell me what's up lol

http://www.steelersdepot.com/2012/03/explaining-salary-cap-dead-money/

Is it 5:00 yet?

Explaining Salary Cap Dead Money
Friday, March 2nd, 2012 at 12:27 am by Dave Bryan

You should know that signing bonuses also stack up on top of each other as well. In other words, let's say a player receives a signing bonus of $10 million for a 5 year contract. That breaks down to a $2 million a year cap hit proration of signing bonus for 5 years. Now let's say you need to restructure his contract to save cap room in year two and let's say he is scheduled to earn a base salary of $6.5 and you want to turn $5 million of it into a signing bonus so you can prorate it out. $5 million divided by 4 years left on the contract comes out to a another $1.25 million proration cap charge for the remaining 4 years that stacks onto the top of the $2 million remaining per year. So now years 2-5 of the contract have a signing bonus proration total each year of $3.25 million. That player originally was scheduled to count $8.5 million against the cap. ($6.5 million base + $2 million signing bonus proration amount) After the restructure he now counts $4.75 million against the cap. ($1.5 million base + $2 million signing bonus proration amount + $1.25 million signing bonus proration amount.

That same player after his second season has $9.75 million left of proration remaining on his contract. (3 years x $3.25 million) If you choose to cut that player before June 1st, the dead money cap hit is the full $9.75 million. If you cut that player after June 1st, his dead money hit for that upcoming year is $3.25 million and the second year dead money hit would be $6.5 million.

I hope that answers a few of the questions on dead money in relation to the salary cap. The above examples are crude, but the best way to explain it.

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Looks like the dead money figure would change if he was cut after June 1.
 
insidejob said:
I don't know. I'd be guessing. I could have sworn that the dead money was spread over what would have been the life of the contract since he's already been paid the bonus money anyway.

Here's a Steelers blog explaining how dead money is dealt with. My brain feels like mush and I can't comprehend anything right now. Tell me what's up lol

Explaining Salary Cap Dead Money | Steelers Depot

Is it 5:00 yet?
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Somewhere. :hihi:

Unless something changed in the latest CBA, guaranteed money is spread out over the life of the contract for cap purposes. However if you cut a player before their contract expires, all the unpaid guaranteed money counts against the cap that year.

Ah, forgot about the June 1 clause. I'm not sure that helps us though because we need to be under the cap before we can sign any free agents.
 

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