Gronk's option reworked

@FieldYates
Sources: the Patriots have converted a $10M option bonus due to Gronk at the end of this year into 2 payments. $4M now, $6M later.

And gronk gets nothing out of it?

To say that I love me some Gronk might be the biggest understatement in the world.

Gronk plays - NE reaps rewards. Gronk get hurt - NE sad. Here's to a career of health, Rob.

ALP said:

And gronk gets nothing out of it?

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He gets $4MM now instead of later. A dollar today is worth more than a dollar tomorrow.

Beyond believing Gronk will be healthy and helping with cash flow, gotta assume another benefit there is some cap relief next year?

robertweathers said:

Beyond believing Gronk will be healthy and helping with cash flow, gotta assume another benefit there is some cap relief next year?

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2017 makes more sense, Hightower, Collins and Jones are all FAs.

I'm not saying we take Gronk for granted here, because we all know the type of transcendent talent we are lucky enough to root for. But sometimes I fall into the trap of focusing on the WRs, the CBs, the OL... When in fact, recent history shows that in seasons Gronk plays all/most games - NE goes deep in the playoffs while Gronk-less squads do "very well", but miss out on the bit game.

I enjoy smart financial deals - but for Gronk, vaults may open. And I'm cool with that if NE must poney up in the next few years.

robertweathers said:

Beyond believing Gronk will be healthy and helping with cash flow, gotta assume another benefit there is some cap relief next year?

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Nope. It will actually add $4m more than it would have. His original option bonus would have been $10m but paid out over 5 years at $2m. So it actually increases next year's cap hit by $4m. But saves $2m in '17, '18 and '19

JMC00 said:

Nope. It will actually add $4m more than it would have. His original option bonus would have been $10m but paid out over 5 years at $2m. So it actually increases next year's cap hit by $4m. But saves $2m in '17, '18 and '19

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Thanks. Wasn't sure how the bonus money was spread out....