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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.
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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.
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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 $$)
$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 $$)
