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Dillon's contract extension never made sense

Discussion in 'PatsFans.com - Patriots Fan Forum' started by shakadave, Feb 28, 2007.

  1. shakadave

    shakadave In the Starting Line-Up

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    Now that Corey's out the door, I can say it: I never understood why the Pats extended him so long for so much money. His 2004 season was nothing short of awesome, but why didn't we add the kind of years that we pay for only if we use them? We committed multimillions to a 34-year-old back? I never got that.
     
  2. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    We did only add the kind of years we only pay for if we use them. Corey never got a big signing bonus here. He played ball from the day he arrived and restructured his contract under a tight cap into NLTBE incentives that he then earned! When they did the extension in 2005 it was because THEY needed cap space and had already restructured too much money into his final year for cap comfort. He was due to count $4.5M against the cap because of the 2004 restructure and we were again tight against the cap (remember this was pre cap implosion). But even then he just got a $3M renegotiation bonus. And in 2006 when he was due the $3M option bonus (they essentially gave him a split 3/3 signing bonus via that option bonus) he deferred it in exchange for which they simply guaranteed his $3M salary and prorated it. That part (protating that salary) given our cap position I don't really understand since we had cap room to spare, but in the end he leaves us with just $3.5M in dead cap. And I believe they can prorate that over two years if they choose to under the new CBA which allows for 2 such veteran cuts prior to June 1 to be treated as if they occurred after June 1.
     
  3. DB15

    DB15 Third String But Playing on Special Teams

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    so the pats actually knew this was going to happen and gave him that deal just to hold him in place for as long as possible?
     
  4. richpats

    richpats Banned

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    I think it made sense for these reasons:

    1) Dillon only had a 2-year deal IIRC when he got to NE. After his outstanding year in '04, the Pats had to show their feature RB that he had job security.

    2) It gave the Pats an out after 2 years if Dillon wore down (which they figured he would). Also gave them 2 years to find his replacement, which they did.

    3) Dillon had some incentive to play at a high level in '05 and '06 with the 3-year option looming. Injuries and father time limited his contributions, so unfortunately for Corey he could not secure the last 3 years of the deal.
     
  5. shakadave

    shakadave In the Starting Line-Up

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    . .. ... ....
     
  6. Digger44

    Digger44 2nd Team Getting Their First Start

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    Cory is out the door? Hen did he leave? Did he retire? When did the Pats agree to cut him?
     
  7. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    Corey isn't going to earn anything from us over the next two years. He already earned the money that the dead cap represents, the Pat's just CHOSE to push that much of it forward for accounting purposes. A $3.5M dead cap hit at the end of a feature RB's career (not to mention one that now can be spread over 2 $100M+ cap seasons at less than $2m per year) is nothing. It cost us $2.8M to cut Ty Law back when the cap was $82M and we were right up against it.

    Corey never really cost us much. He was a $3M+ lead back at a time when most of those established backs were making $4-6M.
     
  8. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    Day after tomorrow...;)
     
  9. Digger44

    Digger44 2nd Team Getting Their First Start

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    i am just not convinced yet
     

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