Freeing Up Cap Money - March 8

Discussion in ' - Patriots Fan Forum' started by mgteich, Mar 8, 2009.

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  1. mgteich

    mgteich Veteran Supporter

    We have about $6.4M of available cap money, estimating $6M for rookies and other needs from July 1st forward. With the expecting signing of a corner and at least one more mid-level player, it doesn't seem that we will have cap money for Taylor, Holt or extensions.

    MID-LEVEL SIGNINGS (net of $5M)
    1) sign a corner (Springs is still unsigned or still unreported)
    2) sign a safety or a wide receiver

    OTHER SIGNINGS (net of $1.4M)
    3) sign some jags for camp and lower roster spot competition (little cost here)
    4) sign a long snapper (little cost)
    5) sign a fullback (little cost)
    6) sign a backup quarterback (little cost)

    EXTENSIONS (??????)
    A) Wilfork (will cost bucks!)
    B) Mankins (not this year)
    C) Seymour (not this year)
    D) Faulk (would save cap money)
    E) Green (may save cap money)
    F) Light (would likely save cap money)
    I suspect that we will wait. We might be able to draft a top LT.
    G) Gost
    H) Kaczur
  2. Pats726

    Pats726 Veteran Starter w/Big Long Term Deal

    what are the chances on extensios of Light, Green, Faulk?? How much could they free up with that? WHile they may not be able to extend Vince might they put in a sweetener as they did with Seymour?
  3. BionicPatriot

    BionicPatriot In the Starting Line-Up

    How the hell do we only have 6 million? We really need to start working on extensions pronto before this team gets torn up. I don't understand with all that money coming off the books for Cassel, how we only have 6 million left. Did we really overpay for Taylor and Baker that bad?

    I'm not liking this offseason one bit thus far, not a bit.
  4. patsox23

    patsox23 Experienced Starter w/First Big Contract

    We only have $6.4 mill in cap-space? I know we signed Taylor, Baker, Springs, but that's ALL we have left? Really?
  5. nantucketguy

    nantucketguy Practice Squad Player

    no its 12.4M but 6 is for signing our draft picks he said
  6. crowell33

    crowell33 In the Starting Line-Up

    I am starting to think Mankins deal never gets done. Dockery, Leonard Davis, Dielman, Steinbach all signed deals averaging about $7 million at guard. Faneca got $8 million per ( and $23 million in guarantees ). Does BB give Mankins $7 or $8 million per year? I'm guessing no.

    Seymour will be 30 and I think another team ( Denver, Cleveland ?) is willing to overpay on a big contract. So my prediction for the cap space goes to Vince Wilfork's new deal.
  7. mgteich

    mgteich Veteran Supporter

    As of last night we had $12.4M total cap room available. As the original post said, approximately $6M is needed after July 1 for the items listed below, leaving a total of $6.4M available in free agency or for the net effect of trades.
    $6M needed from July 1st onward
    1) sign rookies
    2) player 52 and player 53 (only 51 count toward the cap now)
    3) replacments for players on IR or PUP as of the start of the season
    4) the Practice Squad
    5) an injury reserve for in-season replacements
    6) effect of final cuts and signing UDFA's (could add or subtract from the cap)

    Miguel has estimated items 2-5 at a $3.2M cap effect. I've estimated the rookies and item 6 at a $2.8M net cap effect, for a total cap effect of $6M.
    Last edited: Mar 8, 2009
  8. BionicPatriot

    BionicPatriot In the Starting Line-Up

    Fair points, I didn't even think about the draft picks-LOL
  9. signbabybrady

    signbabybrady Veteran Starter w/Big Long Term Deal

    #22 Jersey

    6 mil is alot for rookies and other expenses. I would say we would need more like 3-4 mil for that. How do you come up with the 6 mil #.

    Also I remember in the past when BB did restructures he doesn't like to throw away the end of deal he usually extends after the last year...That was one of Asante's hold up. Meaning anyone he re-ups likely would have the same cap number this year.
    Last edited: Mar 8, 2009
  10. Jimke

    Jimke In the Starting Line-Up

    Last year the Patriots had 4.3 Million for draft picks. This year,

    they don't have the #10 pick in the draft but have three 2nd round

    draft picks and some compensatory draft picks.
  11. mgteich

    mgteich Veteran Supporter

    I estimated only $2.8M for draft choices and the effect of UDFA's. The other $3.2M is for the items listed in my post and were estimated at $3.2M by Miguel. $6M has been my rule of thumb for many years.

  12. kurtinelson

    kurtinelson In the Starting Line-Up

    #37 Jersey

    Good point on Mankins. I have a hard time conceptualizing how any team can justify paying $7 or $8 million a year for a guard under the cap. Faneca is an excellent example. Last year the Jets got an $8 million a year guard and the Steelers got another Super Bowl.

    Given the contract status of Mankins and Neal, it makes me think that OG might be a priority in this draft.
  13. jsull87

    jsull87 In the Starting Line-Up

    why do we hve so little cap room now? i thought we had like 20 million when we traded cassel and vrabel
  14. mgteich

    mgteich Veteran Supporter

    ding, ding, ding, ding! We have BINGO!!!!

    I would add that our permanent backups are both signed only through 2009. If the new CBA is signed, we will need FOUR guards for the 2010 season. Otherwise, we only need three.

    We could do a lot worse than drafting a guard in both the second and third.

    Last edited: Mar 8, 2009
  15. kurtinelson

    kurtinelson In the Starting Line-Up

    #37 Jersey

    Whoo Hooo! What do I win?
  16. signbabybrady

    signbabybrady Veteran Starter w/Big Long Term Deal

    #22 Jersey

    I dont see how 6 mil can be a rule of thumb when some teams barely even have that room going into the start of free agencies.

    Am I missing something seems like millons are missing?

    I thought we had a few mil in space before FA started and we freed up more 14 mil from cassel and 3-4 mil from vrabel putting us 20+ mil over the cap. Than you subtract last years ULTBE incentives and contracts for Taylor, Springs, Baker, Sanders, Tully, Hochstein, Lewis, the tenders and even your 6 mil IMO seems 2 mil short. I am just speculating so maybe you have numbers but you are saying we have 6 mil I heard I think on EEI it was more like 8. And since I think your 6 mil for rookies and post July manuevers is also a little high I think there is more like 4 mil left to use and save like 4 mil for rooks and post july.

    Not trying to be argumentative but I just cant see how we spent all that so soon.
    Last edited: Mar 8, 2009
  17. mgteich

    mgteich Veteran Supporter

    Some team have almost nothing going into free agency. They are in the position of having to cut or trade players to sign free agents and to sign rookies. It seems that the patriots were in that position. We traded Cassel and Vrabel to free up space.

    A few years ago, you might recall us cutting Milloy in the last week of the preseason. That was because we didn't ahve enough cap money to be able to be under for the first game of the season.

  18. signbabybrady

    signbabybrady Veteran Starter w/Big Long Term Deal

    #22 Jersey

    so than how can you call it a rule of thumb and than point out a year when we went in with less. Oviously losing Lawyer in that fashion is not something BB wants to repeat but he went into that year with much less than your rule of thumb and I imagine still had much less than your rule of thumb even after cutting Lawyer.

    I added a few thoughts on your cap space to my last post too MG can you respnd to that too because I feel we are off a bit on the numbers.
  19. mgteich

    mgteich Veteran Supporter

    How does the fact that we needed to cut Milloy to pay for the costs below change the rule of thumb amount that I suggested of $6M?

    There are various methods used to PAY FOR the $6M. As you say, one method is to cut players. Another is to re-structure contracts. We start with about $6.4M available. This amount can be used at any time. We could increase the amount available, and we might even reduce the $6M some. For example, we could trade draft choices to other teams. I have only estimated $2.8M for the rookies. Someone posted that last year's total for rookies was $4.3M.

    We can certianly use an estimate of say $4M for all the items below and then cut a player like Faulk or Green.

    1) signing the rookies
    2) player 52 and player 53
    3) the Practice Squad
    4) replacements for players on IR at the beginning of the season
    5) replacements for players put on IR during the season

    Last edited: Mar 8, 2009
  20. signbabybrady

    signbabybrady Veteran Starter w/Big Long Term Deal

    #22 Jersey

    because he didn't have the space you call a rule of them that year so while hopefully he doesnt get as close to the cap as that resulting in the need to cut someone but he could get closer than your rule of thumb.
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