Brady restructures to save $7.2M against this year's cap

[patsfan-1982]

Isn't this what some people have been criticizing the Jets for constantly doing? What's the difference here?

the jets suck lol

 

[brady199]

Isn't this what some people have been criticizing the Jets for constantly doing? What's the difference here?

Well paying Brady down the road a big base salary or guarenteed money is different then paying it to a qb who is average at best. Also it's only a few mill extra spread out over three years and any money not spent this year carries over to next years cap. And from what I hear in a few years the cap is gonna jump up a lot.

 

[Rob0729]

Isn't this what some people have been criticizing the Jets for constantly doing? What's the difference here?

The Jets do it with a bunch of different players year after year and they do it with players they shouldn't. The Jets want to cut Bart Scott, but because they guaranteed his salary this year his cap number actually goes up $1.5 million if he cuts. It is cheaper to keep him than cut him. They guaranteed Sanchez's 2013 salary, but after today's events they may be looking to eat that next year with Tebow on board.

The Pats on the other hand only do it with one or two players at most a year and it is only with players like Brady who are going to be around for multiple years.

 

[jsull87]

I have a question, what counts against the salary cap. Workout bonuses? Signing bonus? Base salary? All 3? If all 3 count against the cap then the numbers i'm coming up with are that we've spent ~32m this off season so far.

As of March 16th:
13.6m - start

+1.6m - Skins/Cowboys penalty
+7.2m - Brady Restructure
= 22.4m

-~9m - Welker (Franchise)
-~4m - Lloyd (3m signing, 900k base, 100k workout)
-~4.45m - Connolly (3.25m signing, 1.2m base)
-~4.85m - Fanene (3.85m signing, 900k base, 100k workout)
-~2m - Fells (1m signing, 1m base)
-~715k - Gonzalez (700k signing, 15k workout)
-~3.35m - Gregory (2.5m signing, 700k base, 100k workout)
-~890k - White (65k signing, 800k base)
-~2.8m - Slater (2m signing, 700k base, 100k workout)
= -~32m

I could not find the info on Cole, Gallery, Harrison, Koutouvides, and Stallworth.

Obviously i'm not a cap expert. These numbers are from ESPN Boston's Patriots blog. What counts against the cap and what doesn't? The 'base salary' is the 2012 number for all players as is the workout bonus.

Those bonuses can be apportioned across the contract length, also did you take into account the 6M or so we brought forward from last year to this cap?

 

[Rob0729]

Gallery and Stallworth are not there. So, its $4.3M plus 7.2M = $11.5M less Stallworth ($.3M net) = $11.2M - Gallery (I haven't seen Gallery's numbers)

Sorry, I guess I missed that they weren't there.

 

[LetsGoPats36]

 

[ATippett56]

Gallery and Stallworth are not there. So, its $4.3M plus 7.2M = $11.5M less Stallworth ($.3M net) = $11.2M - Gallery (I haven't seen Gallery's numbers)

Daniel Fells is not there either.

 

[Wilfork#75]

Looking at NYJetsCap we have:

Top 51 salary of $107,925463 (not including Stallworth or Gallery, who I don't think will be on big money)

Dead cap of $10,549,554

Total committed $118,475,017

2012 Cap is $120.6mil

Rollover from 2011 of $6,668,877

Current cap space of $8,793,860 (minus Stallworth and Gallery)

That's a pretty good spot to be in right now. If we cut Ocho after June 1 we can save an extra $3mil (if he hasn't re-structured) and Josh Barrett would save another $1mil. Adding our draft picks would add little to the total cap because of the guys they will knock off the bottom. Of course you need to make allowances such as the 52/3 guys on the roster, IR, practice sqaud, mid season acquisitions. But it looks like we still have some room to maneuver (just not for Mike Wallace).

Edit:

Stallworth is 1yr $875 total (includes 25k signing bonus)

Looks like Fells year 1 cap hit is around $1.333mil

With the offsetting players at the bottom that adds about $1,203,825

Leaving us with cap space of $7,590,035 (minus Gallery)

 

[Ghost of Ben Dreith]

Another reason why TFB is "THE MAN".....damn....I know his wife makes more but this gesture shows he is about winning another freaking SB.....Thanks Tom and Pats Front Office!

 

[cmasspatsfan]

Looking at NYJetsCap we have:

Top 51 salary of $107,925463 (not including Stallworth or Gallery, who I don't think will be on big money)

Dead cap of $10,549,554

Total committed $118,475,017

2012 Cap is $120.6mil

Rollover from 2011 of $6,668,877

Current cap space of $8,793,860 (minus Stallworth and Gallery)

That's a pretty good spot to be in right now. If we cut Ocho after June 1 we can save an extra $3mil (if he hasn't re-structured) and Josh Barrett would save another $1mil. Adding our draft picks would add little to the total cap because of the guys they will knock off the bottom. Of course you need to make allowances such as the 52/3 guys on the roster, IR, practice sqaud, mid season acquisitions. But it looks like we still have some room to maneuver (just not for Mike Wallace).

I think Ochos a cap hit whether hes here or not, I dont remember the numbers but its not much of a savings if we cut him.

 

[supafly]

it looks like we still have some room to maneuver (just not for Mike Wallace).

Whew!!

In all seriousness, thanks for the breakdown. Good posters like you make life easier for the rest of us.

 

[VJCPatriot]

Lardarius Webb or Jared Allen. Or both. Why not go for broke?? ^_^ This defense would be sickening to go with the already potent 30+ point offense.

 

[Wilfork#75]

I think Ochos a cap hit whether hes here or not, I dont remember the numbers but its not much of a savings if we cut him.

Ocho's cap hit for 2012 (if he hasn't re-structured) is over $4.5mil. He still has a bit over $3mil of dead money, but if we cut him after June 1 we can spread that over 2 years. If we cut him now we only save $1.5mil, but if we cut him later we save about $3mil (although that also gives us $1.5mil dead cap next year).

 

[supafly]

Ocho's cap hit for 2012 (if he hasn't re-structured) is over $4.5mil. He still has a bit over $3mil of dead money, but if we cut him after June 1 we can spread that over 2 years. If we cut him now we only save $1.5mil, but if we cut him later we save about $3mil (although that also gives us $1.5mil dead cap next year).

He reported on his twitter feed that he had no problem whatsover restructuring, and that he was "excited to try and come up with ideas to replace the money during the summer." (paraphrasing)

There was also an article on the front page of this site that claimed he had indeed, restructured; although it was taken down.

From what I understand, cutting Ocho (even as a post 6/1 casualty) won't free up anything more than about 1.5 million or so; but it's a freed up portion nonetheless.

Barrett is another 1 million, and the Light situation may also have some bearing on cap savings, although we all hope not.

One way or another, they'll have no problem figuring it out.

 

[patfanken]

Ok. Minus 5m allocated to our 2012 draft class and we should have 6m. I highly doubt we sign people unless it's to a min deal. Need to keep around 5m in case of emergencies during the season.

Interesting thing about the draft money and the reserve. You'd think you'd have account for that money now as the draft approaches, but last week someone pointed out that draft money doesn't come due until September.....and a lot can happen between then and now. I say spend like a drunken sailor now and then sort out the rest at the end of training camp.

 

[Wilfork#75]

He reported on his twitter feed that he had no problem whatsover restructuring, and that he was "excited to try and come up with ideas to replace the money during the summer." (paraphrasing)

There was also an article on the front page of this site that claimed he had indeed, restructured; although it was taken down.

From what I understand, cutting Ocho (even as a post 6/1 casualty) won't free up anything more than about 1.5 million or so; but it's a freed up portion nonetheless.

Barrett is another 1 million, and the Light situation may also have some bearing on cap savings, although we all hope not.

One way or another, they'll have no problem figuring it out.

He may have already re-structured and I remember the tweets you are talking about. But the numbers I used for my calculations have him at his original contract, so we may have even more space if he has already re-structured. However, that could have guaranteed more money to reduce his base salary, which would reduce his cap number for this year, but increase his dead cap if cut.

 

[Deus Irae]

Interesting thing about the draft money and the reserve. You'd think you'd have account for that money now as the draft approaches, but last week someone pointed out that draft money doesn't come due until September.....and a lot can happen between then and now. I say spend like a drunken sailor now and then sort out the rest at the end of training camp.

Unless something's there that's either a change or I've been missing for a lot of years, the draft money is due when you sign the player.

 

[mgteich]

Belichick's plan seem to be to spend all he has available, and restructure a player when he needs more (pretty much the same as your plan). Of course, his spending like a drunken sailor does not include signing high-priced free agents.

Belichick currently has about $10M available. He does need to have a plan for the end so he does end up cutting a player like Milloy (that cut still bother me). Late opportunities involve Welker, Ochocinco, Wilfork and Light.

Interesting thing about the draft money and the reserve. You'd think you'd have account for that money now as the draft approaches, but last week someone pointed out that draft money doesn't come due until September.....and a lot can happen between then and now. I say spend like a drunken sailor now and then sort out the rest at the end of training camp.

 

[ctpatsfan77]

Unless something's there that's either a change or I've been missing for a lot of years, the draft money is due when you sign the player.

I think what he's referring to is that, IIRC, at the moment the player is drafted, a cap hit equal to the rookie minimum is charged against the salary cap. Of course, that shouldn't matter b/c of the Top 51 rule. The rookies' full salary cap hits don't actually hit the cap until they sign their deals.

 

[ctpatsfan77]

Another reason why TFB is "THE MAN".....damn....I know his wife makes more but this gesture shows he is about winning another freaking SB.....Thanks Tom and Pats Front Office!

TFB deserves a lot of praise (e.g., for actually mentoring his backups, unlike some QBs), but here we're just talking about an accounting tool. He's not actually earning any less money this year.