Pats $15.4 Million Under the Cap?

[TaxPlaya]

It may be a few days out of date and not take into effect any accelerated Seymour bonuses, but the latest PatsCap.com figure is that the Pats are $15.4 million under the cap.

Any thoughts here? Why aren't we hearing about extensions?

 

[BelichickFan]

Why aren't we hearing about extensions?

Because the Patriots don't talk about those things publicly until they're done.

 

[jct]

Also because of injury risk. It would be better to do those deals toward the end of the season. Provides players more incentive to work harder in a contract year.
15.4 is really probably just 6.8M after a Seymour's roster check (6.6) and in season replacements(2)

 

[SCPatBoy]

The Pats were also setting Money aside for Branch...and also when they were in the hunt for Ty Law...People are forgetting about that.

 

[Isaac]

Don't forget that they have until the end of the football year (March) to spend it all (unless there is a rule I'm not aware of). This means that they could make extensions with roster bonuses after the season and still use up this year's money.

 

[dryheat44]

Don't forget that they have until the end of the football year (March) to spend it all (unless there is a rule I'm not aware of). This means that they could make extensions with roster bonuses after the season and still use up this year's money.

I don't think you're exactly right. There is an accounting date, that you can work salary from future years into this year to take advantage of cap space, but I seem to remember it being November or December. I'm pretty sure it's during the season. It might be on Miguel's page.

 

[JoeSixPat]

Don't forget that they have until the end of the football year (March) to spend it all (unless there is a rule I'm not aware of). This means that they could make extensions with roster bonuses after the season and still use up this year's money.

It might not be March but its a given that they have ample time through the entire season to decide how or whether to frontload contracts.

I suppose for right now, this still gives the Pats a chance to strike a deal with Deion at the last minute.

Had they frontloaded a salary like Brady's or Seymours to take up the cap space today that would be a major sign to Deion that a new deal is not happening.

 

[Patriot Missile]

We still have Koppen,Warren and Wilfork to think about. I know some are po'd and think they are being cheap but you can bet your marbles they will command good money on the open market. They are young and extremely talented and other teams know it.

 

[MoLewisrocks]

I believe the cutoff is prior to the final week of the season. That was when extensions were done for Vick and Palmer and a couple of the name kickers got extensions late last season. The strategy is particularly helpful because you pick up a year on the front end, before the deal commences, in which to amortize signing bonus or take a hit on a chunk of the contract via roster bonus.

You get another full season to assess the player and should still get a slight discount over open market (unless the player has an idiot agent like Branch's) because those players get some millions in hand 3-5 months sooner than if they wait to see how the market shakes out in March or April or later, and the player has the peace of mind of knowing where he and his family will be living and working for the next 3 years anyway.

I think that there were sufficient questions about Graham and Branch and Koppen surrounding either their durability or talent ceiling that this was the sensible approach to take all along. Branch was the priority, and being prioritized just insulted him so....

And it's pretty clear now that the dust has settled that $4-5M of that money was earmarked for a starting CB, first Townsend who decided to re-sign with the Steelers and then Law who took just a few dollars more to go to KC. And another $6M+ was earmarked to lighten the load on Seymour's extension. The deals they offered Branch would have required another $1M or so this year. That's $12M they had planned and budgeted to spend all off season long. They will still spend it, it just remains to be seem what they can find of value to spend it on now. And there is always the option to LTBE it into 2007.

 

[Miguel]

Oops, I forgot to update it. It should be $12.6 million.

 

[Miguel]

http://www.patscap.com/faq.html

 

[MoLewisrocks]

Oops, I forgot to update it. It should be $12.6 million.

Jeez Miguel....get with the program. The season is upon us.

I was all set to argue the number too until I checked out your page.....

 

[Bostonian1962]

It may be a few days out of date and not take into effect any accelerated Seymour bonuses, but the latest PatsCap.com figure is that the Pats are $15.4 million under the cap.

Any thoughts here? Why aren't we hearing about extensions?

Easy. They need to see what Branch will cost them (if anything) before they can be sure how much buffer they have.

 

[Isaac]

I don't think you're exactly right. There is an accounting date, that you can work salary from future years into this year to take advantage of cap space, but I seem to remember it being November or December. I'm pretty sure it's during the season. It might be on Miguel's page.

Thanks for the corrections, good information to know.

 

[groundgame]

Old news. Old tired subject, but: After reading the very detailed and interesting articles on placekicking in today's Boston Globe, the fact that the Pats being $15 M under the cap kept creeping into my thoughts and no matter how it all turns out, it is a major screwup for us to not have retained Adam Vinitieri after having every opportunity to do so.

 

[Brady-To-Branch]

I believe the cutoff is prior to the final week of the season. That was when extensions were done for Vick and Palmer and a couple of the name kickers got extensions late last season. The strategy is particularly helpful because you pick up a year on the front end, before the deal commences, in which to amortize signing bonus or take a hit on a chunk of the contract via roster bonus.

You get another full season to assess the player and should still get a slight discount over open market (unless the player has an idiot agent like Branch's) because those players get some millions in hand 3-5 months sooner than if they wait to see how the market shakes out in March or April or later, and the player has the peace of mind of knowing where he and his family will be living and working for the next 3 years anyway.

I think that there were sufficient questions about Graham and Branch and Koppen surrounding either their durability or talent ceiling that this was the sensible approach to take all along. Branch was the priority, and being prioritized just insulted him so....

And it's pretty clear now that the dust has settled that $4-5M of that money was earmarked for a starting CB, first Townsend who decided to re-sign with the Steelers and then Law who took just a few dollars more to go to KC. And another $6M+ was earmarked to lighten the load on Seymour's extension. The deals they offered Branch would have required another $1M or so this year. That's $12M they had planned and budgeted to spend all off season long. They will still spend it, it just remains to be seem what they can find of value to spend it on now. And there is always the option to LTBE it into 2007.

Mo, is this what you're referring to?

http://www.atlantafalcons.com/team/impDates.jsp

NOVEMBER (2006)
5-6: Ninth Regular Season Weekend.
5: Atlanta Falcons at Detroit Lions - Ford Field - 1 p.m. ET (FOX-TV)
6: Deadline at 4 p.m., New York time, for an increase in a player's 2006 Salary to be counted as Salary for the current year. Any notice of an increase in a player's 2006 Salary received by the NFLMC after this deadline will be treated as a Signing Bonus.

 

[dryheat44]

Old news. Old tired subject, but: After reading the very detailed and interesting articles on placekicking in today's Boston Globe, the fact that the Pats being $15 M under the cap kept creeping into my thoughts and no matter how it all turns out, it is a major screwup for us to not have retained Adam Vinitieri after having every opportunity to do so.

You mean the guy who's hurt, contributes short kickoffs, and walked away after being offered a record contract for a kicker? That guy?

We did not have the ability to retain Adam this offseason. He had his mind made up that he was going to leave, partly because he prefers to kick indoors, and partly because he felt slighted that the Patriots should have extended him two years earlier.

I'd love to know why you say "no matter how it all turns out". If it turns out that Gost is a more reliable kicker with longer kickoffs, for much cheaper, isn't letting Adam go the right move for Belichick?

 

[mgteich]

Miguel,

1) Am I correct is presuming that the $12.6M makes no assumptions about future payments to Seymour?

2) Also is Mruc's salary now guaranteed for the year?
-----------------------------------------------------
If so,

$1.6M fund for payments for replacments brought in during the year.
$6.6M for anticipated roster bonus or salary that could be counted in 2006 should the team choose to do so.

Branch could be receiving some of this money.

This really only leaves $4.2M of unallocated cap money. We would all like most, if not all of this to be used on extensions, although I am not sure any would be willing to pass on free agency (well, perhaps Banta-Cain). If not, a contract or two can be retructured with an increase to 2006 salary (Seymour again is the best for this). Or, we can use the old LBTE trick.

In any case, these decisions can be made during the bye week, or even a bit later.

mark

Oops, I forgot to update it. It should be $12.6 million.

 

[groundgame]

You mean the guy who's hurt, contributes short kickoffs, and walked away after being offered a record contract for a kicker? That guy?

We did not have the ability to retain Adam this offseason. He had his mind made up that he was going to leave, partly because he prefers to kick indoors, and partly because he felt slighted that the Patriots should have extended him two years earlier.

I'd love to know why you say "no matter how it all turns out". If it turns out that Gost is a more reliable kicker with longer kickoffs, for much cheaper, isn't letting Adam go the right move for Belichick?

If Adam has an OK year and Gost has a great year, it is still not a smart move to go from highly reliable to "wait and see" for a very critical position on a team that could have easily afforded to keep him.

 

[Patriotic Fervor]

If Adam has an OK year and Gost has a great year, it is still not a smart move to go from highly reliable to "wait and see" for a very critical position on a team that could have easily afforded to keep him.

They offered him $3 million, but that wasn't enough. Apparently he wanted them to build an indoor stadium for him.

Uggghhnnnn!!!!!

The Patriots made the right move, and it was a smart move.