Albert Haynesworth and Chad Ochocinco restructure their contracts with Pats

[italia44]

Between the Big Al, Ocho, and Mankins restructure they would have seemed to have freed up alot of money?

Is there another move to come or is this just a case of book keeping and this money has already been spent on Ellis, Carter, and the like?

Certainly been a whirlwind few weeks for the front office. Kudos to Floyd Reiss, Caserio, BB and crew.

I say if there is anything left re-up Welker with it.

They're purchasing the Duchy of Liechtenstein:rocker:

 

[BTTA]

They're purchasing the Duchy of Liechtenstein:rocker:

Can she rush the passer?

 

[PATSYLICIOUS]

i dont know if i can see haynesworth playing 2012 for 1.5 million if he has a huge year this year.

My concern as well, if he does really well for us. His salary will drop $2M and he'll be paid peanuts (comparatively speaking of course), coming off a big year? Even somebody with zero history of character issues would concern me there.

 

[Urgent]

First of all, that's really cool. Both very reasonable.

Second, I wonder if there are signing bonuses involved. The base salaries are reported. It would be sort of odd for Ocho, for example, to simply agree to work three years for the pay he is under contract for for one year. If there are signing bonuses, which seems likely, it makes it more difficult for the Patriots to cut each player. Under the current deal, each was more likely a one-year rental.

Third, OK, why? Given that the Patriots like to spend near the cap, and there are still the little exceptions available, why are the Patriots opening up some significant cap space - and potentially pushing more into future years? The Mankins deal, whatever it is, almost certainly reduces this year's cap cost, but would increase future years. He's probably not just giving money away. So that implies they have some other use for the cap money.

 

[Amnorix]

Reiss:


At this point, it looks like a one-year contract as Haynesworth's pay spikes in 2012 -- a base salary of $6.7 million, along with a roster bonus of $400,000 (due Aug. 1) and another $100,000 in the form of a workout bonus.

So in this case, it looks like Haynesworth was willing to take less to get out of Washington and revive his career with New England. In turn, the Patriots seem willing to accept a one-year arrangement for the fifth-round pick they traded.

As for Ochocinco, his contract falls into the same category.

In addition to his $1 million salary for 2011, he also has a $1.5 million prorated roster bonus, meaning his total pay this year is approximately $2.5 million.

Most would consider that a bargain, again falling into the low-risk, high-reward classification from a team perspective.

Ochocinco’s new deal extends through 2013. He is scheduled to earn base salaries of $3 million apiece in 2011 and 2012, and also has $1.5 million prorated roster bonuses in 2012 and 2013.

So Ochocinco would be making approximately $4.5 million if he sticks in 2012 and 2013.

Patriots limit risk with contracts - New England Patriots Blog - ESPN Boston

 

[USCPatriot]

Wait.... I thought that Ocho was only here on a 1 year deal. I thought many reports confirmed that the Pats did not sign him to a new contract, which is it?

 

[PATSYLICIOUS]

Reiss:


At this point, it looks like a one-year contract as Haynesworth's pay spikes in 2012 -- a base salary of $6.7 million, along with a roster bonus of $400,000 (due Aug. 1) and another $100,000 in the form of a workout bonus.

So in this case, it looks like Haynesworth was willing to take less to get out of Washington and revive his career with New England. In turn, the Patriots seem willing to accept a one-year arrangement for the fifth-round pick they traded.

As for Ochocinco, his contract falls into the same category.

In addition to his $1 million salary for 2011, he also has a $1.5 million prorated roster bonus, meaning his total pay this year is approximately $2.5 million.

Most would consider that a bargain, again falling into the low-risk, high-reward classification from a team perspective.

Ochocinco’s new deal extends through 2013. He is scheduled to earn base salaries of $3 million apiece in 2011 and 2012, and also has $1.5 million prorated roster bonuses in 2012 and 2013.

So Ochocinco would be making approximately $4.5 million if he sticks in 2012 and 2013.

Patriots limit risk with contracts - New England Patriots Blog - ESPN Boston

This makes alot more sense to me. It's a prove year for Haynesworth. Do well and salary boosts up to $6M (well worth it if he impacts our pass rush). If he doesn't work out we can cut ties... just wonder how much of that '12 cap # is guaranteed. Oocho's deal is awesome as well for us, very low figures for his potential. And if he too somehow stinks for us it's still not that much to pay.

 

[Urgent]

Reiss:


At this point, it looks like a one-year contract as Haynesworth's pay spikes in 2012 -- a base salary of $6.7 million, along with a roster bonus of $400,000 (due Aug. 1) and another $100,000 in the form of a workout bonus.

So in this case, it looks like Haynesworth was willing to take less to get out of Washington and revive his career with New England. In turn, the Patriots seem willing to accept a one-year arrangement for the fifth-round pick they traded.

As for Ochocinco, his contract falls into the same category.

In addition to his $1 million salary for 2011, he also has a $1.5 million prorated roster bonus, meaning his total pay this year is approximately $2.5 million.

Most would consider that a bargain, again falling into the low-risk, high-reward classification from a team perspective.

Ochocinco’s new deal extends through 2013. He is scheduled to earn base salaries of $3 million apiece in 2011 and 2012, and also has $1.5 million prorated roster bonuses in 2012 and 2013.

So Ochocinco would be making approximately $4.5 million if he sticks in 2012 and 2013.

Patriots limit risk with contracts - New England Patriots Blog - ESPN Boston

A bit confusing term - 'prorated roster bonus.'
A pro-rated 'signing' bonus is paid up front (and thus guaranteed since it is paid for signing), and pro-rated against the cap.
An annual roster bonus is simply an amount the player makes if he is on the roster - almost by definition not guaranteed.
Since he says 'total pay is $2.5mm' sounds like the latter is the case.

 

[Brady_to_Moss]

Nice! :rocker:

 

[MoVaughn4Prez]

Just to clarify. Today is August 10, 2011. 2010 was last year. 2009 was the year before that.


Base Salaries

Ochocinco:

* 2011 - $1,000,000
* 2012 - $3,000,000
* 2013 - $3,000,000

Haynesworth:

* 2011 - $1,500,000
* 2012 - $6,700,000


New England Patriots Blog - ESPN Boston

 

[Urgent]

Based on the numbers currently being thrown around, it looks like the Patriots saved around $4.5mm against the cap.

OchoCinco was $6.2mm --> $2.5mm = savings of $3.7mm
Haynesworth was $5.4mm --> $3.6mm = savings of $1.8mm

Presumably the Mankins restructure will open up additional significant cap savings.

 

[Urgent]

...and if the number currently up on ESPN, $1.5mm for Haynesworth for 2011 is correct, then that's obviously an additional $2mm of savings for over $6.5mm in total cap savings.

 

[italia44]

Can she rush the passer?

No...since "she" is a Principality,not a person.

Perhaps you're thinking of:Grand Duchess Gloriana XII,in the movie:"The Mouse That Roared"

Now,that Grande Dame could rush the passer:rocker:

 

[jefmblrd]

This is good news and makes more economic sense.

 

[Bostonian1962]

Re: Chad, Fat Albert restructure contracts -- Chad's here until 2013

RapSheet Ian R. Rapoport
As @jeffphowe noted, Patriots WR Chad @ochocinco has restructured his contract through 2013. $1M this year, $3M in '11 and '12

RapSheet Ian R. Rapoport
As for Albert Haynesworth, his restructuring pays him $3.6M in '10, $1.5M in 2011 and $6.7M in 2012

Can somebody please explain that to me? Ocho was to make $6.something million, and the team traded for him. They need him. How does it work, that he'd say, O.K. let's cut my salary in half. Deal! Same thing with Haynesworth.

Also, the year now is 2011, so the post doesn't make sense anyway. Square me away please.

 

[VJCPatriot]

1m for Ocho Cinco, 1.5m for Albert Haynesworth, and 1.25m for Mark Anderson. the Pats have freed up a lot of cap room and their acquisitions cost peanuts to play this year. Not to mention Mankins 6 year deal likely frees up money up front as well vs his previous 10m franchise tag cap hit. Are the Pats gonna make a BIG move soon with all this freed up cap space?

 

[captain stone]

Re: Chad, Fat Albert restructure contracts -- Chad's here until 2013

Can somebody please explain that to me? Ocho was to make $6.something million, and the team traded for him. They need him. How does it work, that he'd say, O.K. let's cut my salary in half. Deal! Same thing with Haynesworth.

Also, the year now is 2011, so the post doesn't make sense anyway. Square me away please.

Patriots limit risk with contracts - New England Patriots Blog - ESPN Boston

Looks like the $$s & years have been straightened-out:
in 2011, Albert will count $1.5M vs. the cap,
and Ocho will count $2.5M.

This makes acquiring them for two 5th-rounders & one 6th much, much more palatable.
It also returns the salary hierarchy to normalcy.

And when taking Mankins' extension into consideration, I am def. more upbeat
about our chances now than I was this AM.

Now about that Shaun Ellis contract...

 

[Sciz]

1m for Ocho Cinco, 1.5m for Albert Haynesworth, and 1.25m for Mark Anderson. the Pats have freed up a lot of cap room and their acquisitions cost peanuts to play this year. Not to mention Mankins 6 year deal likely frees up money up front as well vs his previous 10m franchise tag cap hit. Are the Pats gonna make a BIG move soon with all this freed up cap space?

Not many more position to increase, unless it's by trade. Only FA spot I see being upgraded is interior OL, either Koppen or Connolly. But yes, it seems like something is coming.

 

[MoLewisrocks]

In order to get out of a bad situation players often agree to restructure their deals. Sometimes in a restructure you don't lose money, just postpone it. Other times you actually give it up. Moss did, although I believe he made some of it back in incentives he met.

Reiss now has Ocho's deal as $1M in 2011 salary and $3M in 2012-2013 salary. Those come from the NFLPA site so they are fact. He also says Ocho gets a $1.5M roster bonus that is prorated this year. Sounded like he meant signing bonus...only he says Ocho also gets those in 2012-2013. So what he may mean is roster bonuses that are paid out on a pro rated basis (per game over the course of a season). That kind of puts him on a series of potentially 3 prove it deals over the next 3 seasons. His salaries are guaranteed week 1, the rest is only earned if he's still here... If he were cut after this season there is no dead cap. Ditto before or after 2012 and of course 2013 is the final year. He could be cut mid season and not earn all of the $1.5M roster bonus if it is tied to playing time (games).

Haynesworth's deal was all salary going forward (with a $20M option due in 2013 according to the original deal). For us he was always going to be year to year. Now the first year is for base peanuts (but Reiss did mention incentives - if they are deemed NLTBE they won't count this year but would represent potential dead cap in 2012). His salaries going forward wouldn't be a problem if he produces. They could always restructure him again with an extension (as it looks like his deal was cut to 2 years based on the NFLPA only listing salaries for 2011-2012. He could be cut coming out of camp (as could Chad) and there is no cap cost beyond any workout money. If he works out this year they can bring him back to camp on a $400K roster bonus and see if he's worth his 2012 salary or worth restructuring for a couple of years.

Sounds like we probably save $3.5M on Chad and $3.9M on Haynesworth.

Patriots limit risk with contracts - New England Patriots Blog - ESPN Boston

 

[MoLewisrocks]

Before anyone starts spending all the savings, Miguel had us right up against the cap with a couple of signings pending before today (he had assumed we borrowed the $3M in cap exemptions we were so close). We may not (have chosen to) save all that much if Mankins got a deal that averages close to $8M. So we are back in good shape but it's not like we're swimmin' in cap... And Welker and possibly Branch and Mayo are up next (between now and the end of the season IMO).