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Richard Seymour and his CAP hit
Per Miguel - Yikes !!!!
"April 13, 2006 update Adamjt13 reported on the PatsFans.Com messageboard - "The "extension" is for only three more years past 2006. Seymour got a renegotiation bonus of $5.34 million, prorated at $1,335,000 per season. He also got a workout bonus of $100,000 in addition to his standard $6,160 workout bonus. His $585,000 base salary, plus his $1,335,000 prorated bonus and $100,000 additional workout bonus add up to $2.02 million -- exactly what his salary would have been, which is why his cap number is the same.Next year, Seymour is due an option bonus of $18.66 million. If the option is not exercised, Seymour will become a free agent in 2008, and his 2007 base salary becomes $19.26 million AND is guaranteed. He has workout bonuses of $106,720 each season from 2007 through 2009.His cap numbers each season will be $4,420,160 in 2006, $8,261,720 in 2007, $8,391,720 in 2008 and $11,346,720 in 2009."
$11,346,720 ?? - For what ? - I think I just threw up in my mouth........
Learn to read the page. Seymour's cap hit is $9.79M. Reports on contract terms are usually fluid and change over time to reflect what actually transpires. Freeney signed a 6 year $72M deal with over $30m guaranteed the following year. And promptly landed on IR. His early cap hits were well below average which is the way Polian tends to handle his cap, including $8.8M this season, but they rise rapidly thereafter to $11M in 2010 and $19M in 2012 if there is a cap...similar to the deal he did with Manning. Peppers cap hit last year was over $13M and this year it's over $16M...
Seymour's extension averaged $10M per for the 3 additional years, but he signed it with one year remaining on his rookie deal which was paying him $2-3M per. That allowed the team to pro rate his bonus money from the new deal over 4 seasons so that in effect he averaged $8M per against the cap over the last 4 years. It was a good deal for both sides because it got Seymour a chunk of his big money early, it got us a cap friendly 4 year deal compared to guys like Freeney and Peppers and it meant we didn't have to commit to him beyond this season or guarantee him $30M+ on a longer term deal. Which given his injury history was a substantial benefit. Going forward the team also has additional options open including tagging him for 2010 whether to play or trade him if the don't want to commit to an extension either because of performance/injury concerns or the potential of a work stoppage in 2011.