Cap Room After Two Weeks

[mgteich]

Miguel's board shows a $7.8M in cap room with all contacts account for. Some are estimated so some changes could come, but likely nothing significant. We have only a couple of millions left unless cap money is freed up through extensions of Light or Green or Faulk. Wright is likely the last piece of the puzzle before the draft plus perhaps some veteran contract players who only count a net $100K or so.

It will be a long 6 weeks until the draft.

 

[signbabybrady]

seems like there is room for a little more plus the rooks and in season space....I bet there is still a headline before the draft

 

[Rob0729]

Cap room could be easily came by if the Pats decided they needed oit for a player. Barring a trade though, I don't see there being anyone on the market that the Pats would sign that would command a large contract.

 

[mgteich]

OK, you're on. Let's say we wanted to sign Peppers and the 2009 cap hit would be $7M> Please indicate how you would EASILY come by the additional $7M needed.

Cap room could be easily came by if the Pats decided they needed oit for a player. Barring a trade though, I don't see there being anyone on the market that the Pats would sign that would command a large contract.

 

[maverick4]

We are done with free agency. This isn't enough cap room even for our rookies, it will be tight. We will likely re-extend one of our stars to free up a bit of room.

 

[WhiZa]

We have 11 draft picks and 6 of them are in the first 3 rounds. This mimics the Chiefs who had 12 picks last year and were given a cap of 8 million to sign their rookies. If the Patriots do select all 11 it could very well be around 7 million. Espeically with the total cap number going up.

 

[mgteich]

I've used the estimate of about $3M for rookies and another $3M for the other items needed that we need cap money for:

Player 52 and 53 (only 51 counts now)
Practice Squad
Replacements for player on IR and PUP when the season starts
Replacements for players put on IR during the season

My rookie number is net of players already on the team. If we sign 10 players, we will cut 10 players at say $4M, so $7M total less the $4 gives a net rookie cost of $3M. Obviously, this is dependent on who is cut. If a high cost player is cut, the net effect is much less.

The first has the greatest cap effect, the seconds cost a bit, the thirds almost break even and the rest save against the cap. So, the first might cost $2M and the three seconds might cost $2M against the cap and the rest save $1M.

For example:
Sign a 6th at $317K and cut Connely at $467K and save $150K against the cap.

 

[The_Riddler]

Yikes, I wonder what Big Vince is thinking right now ????

He has to be pissed !

 

[BradyManny]

We have 11 draft picks and 6 of them are in the first 3 rounds. This mimics the Chiefs who had 12 picks last year and were given a cap of 8 million to sign their rookies. If the Patriots do select all 11 it could very well be around 7 million. Espeically with the total cap number going up.

Don't forget KC had a top 5 pick last year though, and high picks in each round. Its a very different situation. No way will the Pats get a 7 milli rookie pool, IMO.

8 mill doesn't sound like a lot, but I agree w some of the above that if they really want another FA (ie J Taylor) they can get him.

 

[upstater1]

Yikes, I wonder what Big Vince is thinking right now ????

He has to be pissed !

Why is he pissed. He's going into an uncapped year.

The rules of an uncapped year make it evident that you will be unable to sign free agents from other teams easily if you advance in the playoffs.

In other words, this is the year to sign free agents. Next year is the year to sign your own guys.

AND, you can give the guys you trust huge salaries in their first year (in lieu of signing bonuses) in order to create cap space for the future.

Because of the rule which prevents you from raising year-to-year salary by more than 30%, there is a HUGE incentive not to renew ANY current contract this year. Teams who are extending guys this year can't count load a big salary into the uncapped year. Whoever takes advantage of the uncapped year sets themselves for a nice little run afterward.

 

[BradyManny]

Why is he pissed. He's going into an uncapped year.

The rules of an uncapped year make it evident that you will be unable to sign free agents from other teams easily if you advance in the playoffs.

In other words, this is the year to sign free agents. Next year is the year to sign your own guys.

AND, you can give the guys you trust huge salaries in their first year (in lieu of signing bonuses) in order to create cap space for the future.

Because of the rule which prevents you from raising year-to-year salary by more than 30%, there is a HUGE incentive not to renew ANY current contract this year. Teams who are extending guys this year can't count load a big salary into the uncapped year. Whoever takes advantage of the uncapped year sets themselves for a nice little run afterward.

This is a really good point.

So you're saying its not in the Pats best interest to extend Vince this season?

Its also worth noting that a) we can control him w the franchise tag, although thanks to Haynesworth, that'll be more expensive next year b) next year's draft is deep on the DL, especially w Mount Cody at DT. Basically, the Pats do have some leverage in this situation.

 

[Rob0729]

OK, you're on. Let's say we wanted to sign Peppers and the 2009 cap hit would be $7M> Please indicate how you would EASILY come by the additional $7M needed.

Convert Brady's roster bonus into a signing bonus. Savings: around $1.5 million

You could easily convert part or most of Brady's ($5 million), Moss' ($4.9 million), or Light's ($4.2 million) base salaries into signing bonuses and free up around $6 million. All are signed through 2010 so Brady can probably create about $2.3 million of cap space for Brady, $2.1 million for Moss, and $1.8 million for Light. These are estimates and could be a few $100k or so higher or lower. Not a capologist.

So you do those four moves, the Pats free up around $7.5 -$8 million. Too easy.

As Miguel says, if a team wants cap room, it isn't too hard for them to create cap room these days. I am paraphrasing a bit.

 

[patchick]

We have 11 draft picks and 6 of them are in the first 3 rounds. This mimics the Chiefs who had 12 picks last year and were given a cap of 8 million to sign their rookies. If the Patriots do select all 11 it could very well be around 7 million. Espeically with the total cap number going up.

Don't forget KC had a top 5 pick last year though

A top 5 and #15! And Glenn Dorsey at #5 accounted for well over $4 million of that $8 million cap.

For all that people (including me) whine about rookie salaries, it's really only the top 5-10 picks that are out of whack. The Pats, even with 6 of the top 100 picks, shouldn't have to commit more than $4 million of their cap to rookies.

 

[NEGoldenAge]

Convert Brady's roster bonus into a signing bonus. Savings: around $1.5 million

You could easily convert part or most of Brady's ($5 million), Moss' ($4.9 million), or Light's ($4.2 million) into signing bonuses and free up around $7 million. All are signed through 2010 so Brady can probably create about $2.3 million of cap space for Brady, $2.1 million for Moss, and $1.8 million for Light. These are estimates and could be a few $100k or so higher or lower. Not a capologist.

So you do those four moves, the Pats free up around $7.5 -$8 million. Too easy.

As Miguel says, if a team wants cap room, it isn't too hard for them to create cap room these days. I am paraphrasing a bit.

Thanks for the break down. That is excellent information.

 

[NEGoldenAge]

Because of the rule which prevents you from raising year-to-year salary by more than 30%, there is a HUGE incentive not to renew ANY current contract this year. Teams who are extending guys this year can't count load a big salary into the uncapped year. Whoever takes advantage of the uncapped year sets themselves for a nice little run afterward.

Thank you very much for clarifying this. I was wondering about that, but I'm not very well informed on how contracts work, and didn't know that if you let one expire at the end of 09, if it has an effect on what the next contract could be. You set me straight... good stuff.

 

[Ring 6]

We are done with free agency. This isn't enough cap room even for our rookies, it will be tight. We will likely re-extend one of our stars to free up a bit of room.

We have a ton more room that what the rookies will cost. We are already accounting for every rookie on the cap with the 'placeholder' of the guy in the top 51. Aside from 1st rounders there is almost no cap increase from signing rookies. 2nd rounders proibably take a couple 100k off the cap, and after that they usually are not even in the top 51.
In other words, if we sign 6 rookies for 5,000,000 in cap money, all becoming part of the top 51, they will only take up about 2mill, because the 6 lowest paid guys in the top 51 are no longer counted.
Later round picks dont count toward the cap until they make the team if they do, because they are below the top 51 cutoff.

 

[DW Toys]

Convert Brady's roster bonus into a signing bonus. Savings: around $1.5 million

You could easily convert part or most of Brady's ($5 million), Moss' ($4.9 million), or Light's ($4.2 million) base salaries into signing bonuses and free up around $6 million. All are signed through 2010 so Brady can probably create about $2.3 million of cap space for Brady, $2.1 million for Moss, and $1.8 million for Light. These are estimates and could be a few $100k or so higher or lower. Not a capologist.

So you do those four moves, the Pats free up around $7.5 -$8 million. Too easy.

As Miguel says, if a team wants cap room, it isn't too hard for them to create cap room these days. I am paraphrasing a bit.

Good stuff. I have learned something today. Thanks.
DW Toys

 

[DW Toys]

I've used the estimate of about $3M for rookies and another $3M for the other items needed that we need cap money for:

Player 52 and 53 (only 51 counts now)
Practice Squad
Replacements for player on IR and PUP when the season starts
Replacements for players put on IR during the season

My rookie number is net of players already on the team. If we sign 10 players, we will cut 10 players at say $4M, so $7M total less the $4 gives a net rookie cost of $3M. Obviously, this is dependent on who is cut. If a high cost player is cut, the net effect is much less.

The first has the greatest cap effect, the seconds cost a bit, the thirds almost break even and the rest save against the cap. So, the first might cost $2M and the three seconds might cost $2M against the cap and the rest save $1M.

For example:
Sign a 6th at $317K and cut Connely at $467K and save $150K against the cap.

Thank you for that information. Good stuff.
DW Toys

 

[Ring 6]

We have 11 draft picks and 6 of them are in the first 3 rounds. This mimics the Chiefs who had 12 picks last year and were given a cap of 8 million to sign their rookies. If the Patriots do select all 11 it could very well be around 7 million. Espeically with the total cap number going up.

See mgteichs post.
A rookie pool of 8mill does not cost 8mill of cap room, starting from the current cap status.
The current cap status includes 12 players that are taking up about 6mill of it already.
Many of the 12 dont even hit the cap calc because after the 2nd or 3rd round draft choices cap #s dont make it into the top 51.
Example: 2nd round pick sings with 750k first year cap #. He replaces the 51st highest paid player who was making 500k. The NET cap charge is 250k. Sign 10 of those for 7.5mill only costs 2.5mill cap space.

 

[Synovia]

C
You could easily convert part or most of ...Moss' ($4.9 million).... base salaries into signing bonuses and free up around $6 million.

Didn't they just renegotiate Moss last week to free up like 750K?