Chung signed to 2 year extension. I’m confused.

[Mark Morse]

This is a smart move to create cap space and add dummy years to Chung's contract. Dugger without benefit of OTA's, mini camps and all rookies will be behind. Phillips is ahead of him as Chung's backup. I could see Dugger playing some deep safety like Harmon or replacing Brandon King as a Big Nickel LB. Dugger will immediately be the Punt Returner this year. Remember that last years NFC Pro Bowl returner was a D2 player from our own backyard, Assumption College's Deonte Harris (NO).

 

[rochrist]

1) the money is the same
2) we should keep him on the team since he is better than Brooks in the depth chart.
3) the team helped the cap buy moving money into the future

So, what should the team have done? There seemed to be no harm here, and a gain.

Plus he's a good asset to have on hand mentoring Dugger.

 

[rochrist]

More interesting, what would they be if Chung retires after the current season? I’m assuming that this move creates some dead money?

It's not enough to matter much in 2021 given what the Pats cap situation will be then.

 

[Miguel]

More interesting, what would they be if Chung retires after the current season? I’m assuming that this move creates some dead money?

This extension will add $2.25M to 2021 dead money if he retires after this season.

Old Deal - If Patrick Chung retires in the spring of 2021 there would be $1,333,334 in dead money.

New Deal - If Patrick Chung retires in the spring of 2021 there would be $3,583,334 in dead money.

 

[Miguel]

The dead money after this year created by the move is equal to the money saved on the cap this year. In other words if Chung is cut next year they simply borrowed 2021 cap money.

The dead money after this year created by the move ($2.25M) is greater than the money saved on the cap this year ($925,000).

 

[luuked]

Smacks of desperation for Cap Space NOW. Tells us that no Thuney deal forthcoming soon.

Please Football Gods: Prove Me Wrong on Thuney take

Why would there be desperation ? They could have waited another 2 months before signing Dugger if they wanted. There is no pressure at all to have cap space right now just to sign the draft picks.

To me this implies that the team is aware that this will be a very challenging season for all rookies given the extraordinary COVID affected preseason. Also they projected that Chung has still something left in his tank.

 

[Betterthanmost]

Belichick goes to a gun fight with his Safety on. Only way to explain it. He does not like being Wide to Receive fire though.

 

[State]

The League is desperate to improve diversity. They are considering improving teams’ draft status that further their aims.

Chung has a Chinese grandparent. An Asian playing DB in the NFL?

Need I say more?

 

[Give Kraft A Hand]

Can we say, at this point, that Patrick Chung is one of, if not the, most underrated Patriots of the Belichick era?

Sure. He also has gotten better in coverage since he came into the league. Let's face it though there wasn't much room to decline there. He looked cooked last year. Not sure it was worth the 925k but regardless he's probably here for at least the next few years. Does anyone want to tell Bill that he's got a freaking guard making the most money on the team? Maybe work out a deal there to create room?

 

[Ring 6]

The dead money after this year created by the move ($2.25M) is greater than the money saved on the cap this year ($925,000).

Does he receive more cash this year? I thought they only converted salary to signing bonus.

 

[Miguel]

Does he receive more cash this year? I thought they only converted salary to signing bonus.

They did not. They also removed his incentives. Under old deal Chung could have earned 4M in cash this year if he was active for all 16 games and earned all of his playing-time incentives. Will now earn 5M if he is active for all 16 games.

 

[captain stone]

Why would there be desperation ? They could have waited another 2 months before signing Dugger if they wanted. There is no pressure at all to have cap space right now just to sign the draft picks...

Then why was this extension done now instead of 2 months from now?

 

[Pape]

Then why was this extension done now instead of 2 months from now?

got to be the Pats queing up cap space for signings after cuts are made

 

[Ring 6]

They did not. They also removed his incentives. Under old deal Chung could have earned 4M in cash this year if he was active for all 16 games and earned all of his playing-time incentives. Will now earn 5M if he is active for all 16 games.

Excuse my ignorance but I’d like to understand.
If they had just converted SB to salary is it correct that the savings this year would equal the dead money next year?
In other words if you convert 4 mill to signing bonus with this year plus 3 to go, you save 3 mill this year and increase future cap hits 3 mill. So the savings this year and the huts that would come if cut next year would be identical IF all they did was move salary to signing bonus. I feel there may be something I am missing in there so would appreciate a lesson. Thanks.

 

[Ring 6]

Then why was this extension done now instead of 2 months from now?

Why not? What is the value of waiting. If you are going to do it any way get it out of the way.
Being proactive isn’t being desperate.

 

[captain stone]

Why not? What is the value of waiting. If you are going to do it any way get it out of the way.
Being proactive isn’t being desperate.

What is the value of waiting? Seriously?

Judging by the timing of Chung Extension + Dugger Signing, it's obvious why the extension was done now: to free up money to sign Dugger...But if one transaction had little or nothing to do with the other, as some are claiming, then extending Chung right this very moment makes no sense whatsoever.

 

[Ring 6]

What is the value of waiting? Seriously?

Yes what is the value of waiting? What would that help?

 

[captain stone]

Yes what is the value of waiting? What would that help?

Maybe Chung is arrested, again...maybe in two months a physical shows a damaged beyond repair shoulder, or bone chips in his knee...this ain't a 26-year-old young man we're talking about now...Unless this move was made for the explicit reason to sign Dugger or somebody else, then I say What's the rush with this guy?

 

[archstanton543]

Plus he's a good asset to have on hand mentoring Dugger.

He can tell Dugger to stay away from the Bolivian marching powder.

 

[Ring 6]

Maybe Chung is arrested, again...maybe in two months a physical shows a damaged beyond repair shoulder, or bone chips in his knee...this ain't a 26-year-old young man we're talking about now...Unless this move was made for the explicit reason to sign Dugger or somebody else, then I say What's the rush with this guy?

They are signing all of their draft choices. Evidently they feel it’s important to do so now.
If you need cap room then you adjust the contract of someone you know will be here.
The fact that they play the same position is coincidental.