$6.66M Seymour Bonus (Or other plan?)

[PatsFanInVa]

So, as I understand it, the Pats can pay Seymour 6.66M this August, or prorate over 4 years, @1.6M/year.

With the Pats still in the black against the cap by $12M+, are we looking at 6.66M going right into Seymour's coffers?

OR is that gaping hole in our cap due to "having room" for Branch, despite Branch's evident lack of flexibility?

Final choice: is it somehow involved in a trade or other move we have no clue about, which gets sprung later this month?

Well, almost final... throw in any other choice here _______________ .

All who are hoarding these theories, come out of the woodwork now! (After all the "single bullet" is soooo boring.) FIRE AWAY!!!

PFnV

 

[maverick4]

I think they will give Seymour as much as they can this year.

With the remaining amount, maybe Branch will get a little bonus, and maybe we sign a veteran free agent or two (an ILB for instance).

That should take care of most of our excess money.

.

 

[mgteich]

About $2.5M at most is NEEDED for Branch. Even if we signed him to a six-year contract with a $15M bonus, his 2006 salary would likely remain the same and the 2006 cap effect would be $2.5M, no matte what his future salaries.

If pioli chooses not to sign free agents, it is NOT because there isn't enough cap money available. There is easily enough for Seymour, Branch and two or three more. If pioli chooses not to spend the money, it will be because in his view the team can't be improved by the players available, or the price is so high that the signing will hurt the team this year or in the future. OK, pass the koolaid, so that we can swallow this.

So, as I understand it, the Pats can pay Seymour 6.66M this August, or prorate over 4 years, @1.6M/year.

With the Pats still in the black against the cap by $12M+, are we looking at 6.66M going right into Seymour's coffers?

OR is that gaping hole in our cap due to "having room" for Branch, despite Branch's evident lack of flexibility?

Final choice: is it somehow involved in a trade or other move we have no clue about, which gets sprung later this month?

Well, almost final... throw in any other choice here _______________ .

All who are hoarding these theories, come out of the woodwork now! (After all the "single bullet" is soooo boring.) FIRE AWAY!!!

PFnV

 

[MoLewisrocks]

So, as I understand it, the Pats can pay Seymour 6.66M this August, or prorate over 4 years, @1.6M/year.

With the Pats still in the black against the cap by $12M+, are we looking at 6.66M going right into Seymour's coffers?

OR is that gaping hole in our cap due to "having room" for Branch, despite Branch's evident lack of flexibility?

Final choice: is it somehow involved in a trade or other move we have no clue about, which gets sprung later this month?

Well, almost final... throw in any other choice here _______________ .

All who are hoarding these theories, come out of the woodwork now! (After all the "single bullet" is soooo boring.) FIRE AWAY!!!

PFnV

The Pat's can pay that amount any time between August and next March. We likely won't know when or whether they have until someone in the media gets a heads up. They likely worded it that way in part so they could wait until they saw what else they were going to be paying for before deciding how to treat Richard's money. As an option bonus it is anticipated as being amortized, but if converted to roster bonus all or part of it can be absorbed on this years cap. I believe Miguel has posted that treating it as roster bonus would take an additional $5M off our existing cap over what he has already projected for Seymour.

The deal they offered Branch would have only increased his cap hit this season by about $1M (the $4M signing bonus divided by 2006-2009).

Signing Law would have cost $4.5M on this years cap. Signing Townsend would have cost around $4M. So a starting corner is who the money was set aside for. Now that Ty is in KC that money is earmarked for a future extension or addition. They may decide to try to sign one or more of the 2007 FA before the season ends to use up cap, or they may write some unlikely LTBE's into contracts to push the money forward into 2007 as a credit.

It's really too late for a trade of any significance. When you acquire an impact player you want him in for camp, particularly on a team with a system as complex as we run.

Bottom line $4.5M for Law and $5M more off Seymours deal and $1M added to Branch's 2006 cap would have left us with the $1.5M rainy day cushion. So now I would guess we just sit on it until we have to do something with it rather than lose it. And again that would be either extend someone else late in the season (Koppen or Samuel or Graham although he may overprice himself) or shift it into 2007 via LTBE's.

 

[spacecrime]

About $2.5M at most is NEEDED for Branch. Even if we signed him to a six-year contract with a $15M bonus, his 2006 salary would likely remain the same and the 2006 cap effect would be $2.5M, no matte what his future salaries.

If pioli chooses not to sign free agents, it is NOT because there isn't enough cap money available. There is easily enough for Seymour, Branch and two or three more. If pioli chooses not to spend the money, it will be because in his view the team can't be improved by the players available, or the price is so high that the signing will hurt the team this year or in the future. OK, pass the koolaid, so that we can swallow this.

glug glug gluggity glug

 

[Miguel]

I believe Miguel has posted that treating it as roster bonus would take an additional $5M off our existing cap over what he has already projected for Seymour.

This is what I have written and continue to believe in:
"Please note that my numbers do include the current cap effects of Richard Seymour's extension. My cap page is intended to show the Patriots' cap status at the time I publish the page. We can assume that the Pats will pick up the option in August but they may not. For all we know, the Pats may intend to give RS the $6.66 million in the form of a roster bonus. Option bonuses are prorated. $6.66 million over $4 years is 1.665 million a year. A Roster bonus would have a $6.66 million cap hit. That's close to a $5 million difference. I rather show what Richard Seymour's current cap number (4.42 million) is than project what the Patriots will do and then be off by $5 million."

In summary, I am not including any part of the 6.66 million in Seymour's current cap number because as far as I know Seymour has not received it.

 

[PatsFanInVa]

Sorry to bump if this should be dying a dignified death, but I realized I hadn't attributed numbers to Miguel's page (though if I ever skip it again, just assume that's where I get this stuff.)

PFnV

 

[shakadave]

To answer your original question, yes, big payout coming up with Seymour.

I'll wretch if I read one more media mention that the Pats were crazy to let [vinatieri/givens/mcginest/fill-in-name-here] go when we have tons of cap money in our pocket. We will spend to the cap this year. Fact. Get used to it. There is no such thing as not spending the full cap amount.