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Cap Situation

Discussion in 'PatsFans.com - Patriots Fan Forum' started by mgteich, Jan 19, 2006.

  1. mgteich

    mgteich PatsFans.com Veteran PatsFans.com Supporter

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    We are almost a million over, before the annual NLTBE adjustment
    $92.8M for 46
    $94.5M for 51 after adding the ERFA's at $310K each
    $93.6M Miguel's considered current estimate of the cap

    Eventually we will need to pay for player 52,53,additional players for each on PUP or IR, the rooks, and a reserve to add players during the year. This total is perhaps $5M-$6M. This money could be made available by the usual restuctures, perhaps of Brady, Colvin, Dillon, Harrison and/or Faulk. Also Starks will have his $3.5M salary reduced or be cut; an extension is certainly a possibility.

    Miguel can judge whether this set of transactions should be reasonably expected to meet the need at the end of preseason.
    -------------------------------------------
    IN THE MEANTIME - MCGINIST IS THE INTIAL KEY
    There is no question that McGinist will restructure before March 2nd. If not, he will be cut. There is simply no way the team will be willing to pay him $7M of new money for 2006. And even they were willing, there would need to be an extension and restructuring to spread the pain.

    I expect the new money for McGinist hit to be about $2M, a cap savings of about $5M. The old bonus money of $1,320,500 should be in the 2006 cap in any case.

    Another option is to cut Poole at a net savings of $1.7M

    Is a $5M budget huge. No, but it is what we have. Another potential for an additional $2M or so is the potential extension of Seymour.

    ------------------------------------------------------------------
    WHAT TO DO WITH $5M OF NET CAP MONEY - SOME OPTIONS
    1) Sign a kicker, presumably Vinatieri. He'll take $3M of cap money on March 2 and for as long as we wait to sign a long-term contract, at which point the cost goes down to about $1.5M)
    2) Sign a receiver or two or three or four (we have Branch,Johnson and Childress under contract)
    3) Sign Hawkins and Poteat
    4) Sign Neal or another OG
    5) Sign the usual group at vet minimums or close (little net cost here)
    I put Ashworth and Fauria in this category, since we won't pay much more
    6) Consider extensions of Seymour (saves $2M or so)
    7) Consider extensions of Graham,Branch,Koppen and/or Samuel (costs $$)
  2. AndyJohnson

    AndyJohnson PatsFans.com Veteran PatsFans.com Supporter

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    I'd be interested in anyones projection on the NLTBE. IIRC, NLTBE bonusses that ARE earned will forward as a 2006 cap cost, but that is OFFSET by a negative forwarding of LTBEs that WERE NOT earned.

    I am under the impression we have players that earn bonusses for going to and/or winning the SB. If I understand correctly those would have been counted as LTBE in 05 (since it was achieved in 04) but turn out not earned and would be a credit to the 06 cap.

    Anyone have opinion or info here?
  3. bucky

    bucky Rookie

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    I'm not sure that Poole number is right. If Poole has a $1.5 mil salary and $500K roster bonus, cutting him should save $2 mil on the cap. Add the $3.6 mil we save by releasing Starks and that right there is enough to get under the cap, put the franchise tag on Vinatieri, and sign players 52 and 53.

    Willie's definitely in line for restructuring. Rodney Harrison might be as well. Brady and Colvin could create plenty of cap space by guaranteeing large portions of their salaries. And if Seymour signs a long term deal, that should create at least a couple mil in cap space as well, though I'm not sure it's going to happen.

    So in short, I don't think there are any cap concerns.
  4. mgteich

    mgteich PatsFans.com Veteran PatsFans.com Supporter

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    Transactions must be made in order. We must always be under the cap. I use the restructures and Starks for training camp and later cap additions.
    ---------------------------

    Yes, you can cut Starks and Poole immediately. I see no particular advantage to the patriots of not waiting on Starks. BTW, Anyone who is cut will be replaced on the 51. I presume a $310K replacement (minimum for a 1 year player). This will likely go up as veteran jags are signed. So, for now, I add back $310K for any cut.

  5. Miguel

    Miguel Patriots Salary Cap Guru PatsFans.com Supporter

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    #75 Jersey

    Page 13 of
    http://www.nflpa.org/PDFs/Shared/2005_Mid-Season_Omnibus_Salary_Averages_&_Signing_Trends_November_2005.pdf
    shows that the Patriots had $320,000 of LTBE incentives going against the cap in 2005 - $250,000 was for Adam.

    I have no idea what the incentives consisted of.

    This is what I do know. The Patriots' adjusted cap number has been consistently one of the lowest in the NFL. In 2005 the Patriots had the 2nd lowest adjusted cap number. Their adjusted cap number was about $4.5 million than the average adjusted cap number for the 32 NFL teams. Given the Patriots' penchant of using incentives, I am presuming that the Patriots's 2006 adjusted cap number will be lower than the announced cap number.
  6. flutie2phelan

    flutie2phelan Rookie

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    I'm surprised that a franchise-tag contract is flexible enough to contain incentives. Why would the team do that? ... it has to be an add-on, because why would AV allow a quarter-mil of his pay to become contingent? (Do you suppose he made the benchmark?)

    Or does this information imply that he and the front office already had some kind of deal going? And then why label it a franchise deal?

    Sign me puzzled.
  7. PatsFanInMaine

    PatsFanInMaine Rookie

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  8. hwc

    hwc On the Roster

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    Probably so. But, the good news [sic] is that they don't have the Super Bowl bonuses to contend with in 2006. I think those have really put the screws to the Pats cap room in each of the last two seasons, as they paid for the 2003 championship out of the 2004 adjusted cap and the 2004 championship out of the 2005 adjusted cap. We probably aren't talking huge dollars, but a couple million can really hurt if you are already tight against the cap, particularly in back to back years.
  9. AdamJT13

    AdamJT13 Rookie

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    The LTBE incentive was in addition to his franchise tag amount.

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