Gilmore restructures contract

[trueblue81]

2019 $9.1m (was $14.9m)

Sorry don't know how to add the tweet...

 

[Hammer of Thor]

2019 $9.1m (was $14.9m)

Sorry don't know how to add the tweet...

Here you go. Note this actually happened last week (prior to the Gronk retirement), and that Reiss is just listing his cap charges by year going forward.

 

[Sicilian]

So... what happens next year? There's no way we're keeping him around at close to $20m, right?

 

[Simpelton]

Probably he restructures again.

 

[Bourne Again Christian]

So... what happens next year? There's no way we're keeping him around at close to $20m, right?

My guess he is traded and we roll with JC for the number 1 slot.

 

[50-yard-line]

So... what happens next year? There's no way we're keeping him around at close to $20m, right?

They're not saving anywhere near $20million by cutting him.

All they're doing here is deferring (on the books, not in actual payouts) the cap price of his contract to future years.

 

[luuked]

My guess he is traded and we roll with JC for the number 1 slot.

Even your own forum avatar is facepalming this message.

 

[Bourne Again Christian]

Even your own forum avatar is facepalming this message.

Honestly it feels like a BB move to me.

 

[luuked]

So... what happens next year? There's no way we're keeping him around at close to $20m, right?

Nothing changed except -- ironically -- moving on from him now has a bigger dead cap hit than before. In other words it is now even less likely we will move him.

 

[SHOWTIME15]

Gilmore’s last year?

 

[SammyBlueCat]

Already discussed at length in the cap space thread:

2019 NE CAP SPACE

 

[luuked]

Honestly it feels like a BB move to me.

Lets just completely ignore the fact that he might be our best defensive player and how his contract will be not particularly outragous given how the cap is growing and FA is exploding.

But why the hell would they then first increase the deadcap hit and hurt themselves instead of trading him straight ? The amount of dead money accelerating up would be about 24m. You have not thought about this particularly long, right ?

 

[RobertWeathers]

So... what happens next year? There's no way we're keeping him around at close to $20m, right?

In 2020 he will be a $19.7m cap hit with a 7.7m dead cap #.

If hes still playing like an all-pro they might ask him if he wants to do an extension, convert the salary into a bonus and spread the cap hit into the future years.

If not they will trade or cut him.

 

[Bourne Again Christian]

Lets just completely ignore the fact that he might be our best defensive player and how his contract will be not particularly outragous given how the cap is growing and FA is exploding.

But why the hell would they then first increase the deadcap hit and hurt themselves instead of trading him straight ? The amount of dead money accelerating up would be about 24m. You have not thought about this particularly long, right ?

Honestly I'm not familiar with how the cap works for those situations.
I agree with him being our best defensive player.
My thought is the hypothetical is 2020 will he be worth close to 20 Million dollars to BB?
Now if a team trades for him how much of that cap do we absorb?
Of course id rather he rework his deal but if a team offers a second round pick in 2020 and takes on the cap my guess is BB will close that.

 

[borisman]

Gilmore’s last year?

He's 28 years old. He's in his prime. Unless BB strikes gold with a couple of CB's then I can only see an extension and not a cap casualty. But it takes two sides to agree. I think Gilmore likes it here. We'll see how he adjusts to Schiano's schemes.

Edit: Just an FYI, Revis's option wasn't picked up and he wasn't re-signed and he, seemingly to us, was also in his prime but was 30 when he left NEP and went down hill pretty fast.

 

[luuked]

Gilmore’s last year?

You will save 3m and incur a dead cap hit of 15.3m next year if you do it. Oh, and apparently you can't take advantage of the "Post June 1" designation for trades after June 1st (or cuts whenever) in the final year of the league CBA.

There is no realistic way that Gilmore is not on the roster next year.

If the information I read about June 1 cuts not being available in 2020 is wrong then you would save 11m in each year with 7m dead money in both years as well.

 

[trueblue81]

Here you go. Note this actually happened last week (prior to the Gronk retirement), and that Reiss is just listing his cap charges by year going forward.

I missed that announcement last week. As far as I was aware we were having discussions over a potential restructure. Didn't realise they'd already agreed.

 

[ctpatsfan77]

So... what happens next year? There's no way we're keeping him around at close to $20m, right?

Pro tip: the salary cap hit is not the best number to look at when deciding "There's no way we will/won't keep a player."

The best number to look at is the new money for a given year.

For example, Gilmore's 2020 cap hit of ~$18.7M breaks down as follows:
Prorated signing bonus: $7.7M
2020 salary: $10.5M
Per game bonuses: $0.5M

In particular, that first $7.7M has to hit the cap eventually (it's a sunk cost). So the real question isn't Are they going to keep Gilmore at $18.7M? The real question is Are they willing to pay him $11M for the 2020 season? IMO, assuming his 2019 play is similar to his 2018 play, I expect the answer will be yes.

[Addendum: it's actually an even "worse" idea to cut him, because cutting him after this season would bring his 2021 signing bonus proration into the 2020 cap.]

 

[luuked]

Now if a team trades for him how much of that cap do we absorb?
Of course id rather he rework his deal but if a team offers a second round pick in 2020 and takes on the cap my guess is BB will close that.

If he is traded today we'd immediately would get hit by 24m dead money because of his prorated bonuses and restructures. If he is traded after June 1st you could spread it into two hits where this years hit would stay the same (8.6m: cap hit of 9.1 - 500k in roster bonuses) and the rest of the the bonuses hit next years cap all at once (15.3m). This loses us about 14m of cap space this year (or gives us about 500k if the trade happens after June 1st).

And if he is traded next year we would gain 3m in cap space but still incur about 15.3m of dead money. From what I have read there is no way to use a June 1 designation for cuts (or take advantage of it in trades) in the final CBA year. So you would not be able to spread this around.

 

[SBLIII]

Gilmore’s last year?

Negative.