FYI Miguel: Richard Seymour's salary reduced

[DefenseRules]

His salary is now listed as $ 2,020,000.00 for 2006 according to the NFLPA website.
http://www.nflpa.org/Members/playerProfile.asp?ID=30098

 

[Miguel]

Good looking out.

My numbers are now getting closer to matching Clayton's.

 

[MagicMarker]

That seems odd....Converting part of his salary to a bonus wouldn't do any good since he's in the last year of his contract. Something else must be afoot.

 

[DefenseRules]

That seems odd....Converting part of his salary to a bonus wouldn't do any good since he's in the last year of his contract. Something else must be afoot.

Good point. I wonder what happened?

 

[PATSNUTme]

I think they gave him a bonus last year after his "holdout". All this cap stuff is strating to give me a headache.

 

[flutie2phelan]

That seems odd....Converting part of his salary to a bonus wouldn't do any good since he's in the last year of his contract. Something else must be afoot.

Been trying for an hour to figure it out.

Had there been a secret extension, the '06 salary should be much less than 2 million ... so that's not it.

Based on nothing more than what is above in this thread ... my only remaining guess is that ... his "sweetener" last year also contained some benchmark attainments for '05 ... which Richard failed to meet. Hence a partial "clawback".

 

[dryheat44]

Been trying for an hour to figure it out.

Had there been a secret extension, the '06 salary should be much less than 2 million ... so that's not it.

Based on nothing more than what is above in this thread ... my only remaining guess is that ... his "sweetener" last year also contained some benchmark attainments for '05 ... which Richard failed to meet. Hence a partial "clawback".

My understanding was his "sweetener" last year was simply moving money from '06 to '05, which would be the easiest explanation why his salary has been reduced.

 

[Miguel]

This is what was written in the Boston newspapers:
"August 3, 2005 update - Mike Felger of the Boston Herald reported that "Seymour will receive a one-year bump in pay. The raise will take Seymour's 2005 base salary from $2.87 million to the $4 million range."

Augusty 28, 2005 update - Nick Cafardo of the Boston Globe reported that "the Patriots basically tore up Seymour's old contract and gave him a deal that includes a $1.7 million signing bonus while keeping his salary at $2.8 million for 2005 and $5 million for 2006. Those salaries were enhanced by escalators totaling $5.5 million that Seymour earned in his rookie contract that will be disbursed over the final two years. The signing bonus, for cap purposes, was prorated over two years and added to the remaining proration of his original signing bonus. All told, Seymour's total pay this season will be $4.5 million."

 

[Miguel]

Been trying for an hour to figure it out.

Had there been a secret extension, the '06 salary should be much less than 2 million ... so that's not it.

Based on nothing more than what is above in this thread ... my only remaining guess is that ... his "sweetener" last year also contained some benchmark attainments for '05 ... which Richard failed to meet. Hence a partial "clawback".

Let's say that you are right AND I do not think that you are. Then the Pats will definitely need a CBA extension. Because IMO Seymour is not going to play the 2006 season for a mere $2 million. His game plan would then be holdout for the 1st 10 games of the season, show up for the last 6 games and get his 6th accrued season and then hit free agency in 2007.

 

[arrellbee]

This may be a stupid question, but ...
Is one possibility that they gave him a new signing bonus last year which essentially guaranteed part of his 2006 salary rather than giving him more overall dollars in his original contract ??

Another question - the NFLPA site just gives base salaries doesn't it and gives no information on amortized amounts or incentives yet to be earned ??

Another question - not that they would often want to, but do clubs have any options as to how many years to amortize a bonus ? Or does it by rule spread over the remaining years of the contract up to 6 years ?

 

[Miguel]

This may be a stupid question, but ...
Is one possibility that they gave him a new signing bonus last year which essentially guaranteed part of his 2006 salary rather than giving him more overall dollars in his original contract ??

Yes but that does not explain the salary decrease.

We know Seymour's 2005 cap number because it is one of the figures used to determine the transition tag number for DEs.

It is $5,264,000.
800,000 proration of 2001 $4,800,000 signing bonus
640,000 proration of 2002 $3,200,000 option bonus
104,000 proration of 2002 $520,000 signing bonus
850,000 proration of 2005 $1,700,000 signing bonus
$2,870,000 salary

Another question - the NFLPA site just gives base salaries doesn't it and gives no information on amortized amounts or incentives yet to be earned ??

Yes on the portion of the site that the general public has access to. Players, and agents have access to more detailed info.

Another question - not that they would often want to, but do clubs have any options as to how many years to amortize a bonus ? Or does it by rule spread over the remaining years of the contract up to 6 years ?

It is a rule.

See Part 1
http://www.nflpa.org/Members/main.asp?subPage=CBA+Extension+Features

 

[ralmat55]

Let's say that you are right AND I do not think that you are. Then the Pats will definitely need a CBA extension. Because IMO Seymour is not going to play the 2006 season for a mere $2 million. His game plan would then be holdout for the 1st 10 games of the season, show up for the last 6 games and get his 6th accrued season and then hit free agency in 2007.

He would hit a franchise designation in 07 not free agency.

 

[hwc]

Another question - not that they would often want to, but do clubs have any options as to how many years to amortize a bonus ? Or does it by rule spread over the remaining years of the contract up to 6 years ?

Miguel answered this as far as the maximum number of years a bonus can be amortized -- that is set by rule.

However, in the unusual situation where a club wants to amortize over fewer years (i.e. higher cap hits in the early years), there are ways to structure a contract to accomplish that.

For example, when the Vikings signed Antoine Winfield in 2004, they gave him something like a $15 million roster bonus in the first year instead of a signing bonus. That put his $15 million of guaranteed money all into the 2004 cap instead of spreading it out over the maximum (at the time) six years. They did that because they had no intention of spending up to the salary cap limit and they could tell their fans that they didn't have any more cap room, thus concealing the fact that they could have easily cleared additional cap space by prorating the bonus.

Alternately, you could simply increase the salaries each year and reduce the signing bonus, using various mechanisms to guarantee part of the salaries. The Pats did this with Vinatieri's last contract.

 

[DaBruinz]

That seems odd....Converting part of his salary to a bonus wouldn't do any good since he's in the last year of his contract. Something else must be afoot.

Seymour isn't in the last year of his contract. Seymour is signed through 2009....

 

[Caspir]

Seymour isn't in the last year of his contract. Seymour is signed through 2009....

This thread is from March of 2006...

 

[DaBruinz]

This thread is from March of 2006...

So it is... Wonder what it was doing up on the front page...