Patriots restructure Cannon's contract

[KDPPatsfan85]

 

[Wheelman]

Mike Silver? Hah! Let's get some legit sources here. Mike Reiss? Adam Schefter?

 

[Sciz]

Could be as simple as turning $4.5 million of salary into a signing bonus, which would save $3 million on the 2019 cap but add $1.5 million to both 2020 and 2021. He played 74.62% of the offensive snaps last season, so a 75% snap incentive would be NLTBE, too.

 

[fnordcircle]

Put a "you are not allowed to retire" clause in there ffs.

 

[KDPPatsfan85]

Mike Silver? Hah! Let's get some legit sources here. Mike Reiss? Adam Schefter?

 

[SBLIII]

probably creates 2-3 million in additional cap space. Extend Brady (hopefully that still happens) and you get breath

 

[Clonamery]

probably creates 2-3 million in additional cap space. Extend Brady (hopefully that still happens) and you get breath

Brady’s contract was restructured last August 8-9th.

 

[SBLIII]

Brady’s contract was restructured last August 8-9th.

I thought it got shut down that you can only do it once per year?

 

[Clonamery]

I thought it got shut down that you can only do it once per year?

Probably what they are waiting for.

 

[Family]

I don't understand the pay cut angle, nor do I think the ghost writer at NBC SportsBoston does either. It's not explained.

Once again hack journalism out of our outlets.

 

[jah]

I don't understand the pay cut angle, nor do I think the ghost writer at NBC SportsBoston does either. It's not explained.

Once again hack journalism out of our outlets.

Every year someone restructures to lower the current cap and increase future cap and it's always called a paycut even though the increase in future cap is guaranteed. It's infuriating that they get paid to not know anything.

 

[SammyBlueCat]

Long as Cannon stays healthy.

Wishing him the best since he survived Lymphoma several years ago.

 

[Simpelton]

I don't understand the pay cut angle, nor do I think the ghost writer at NBC SportsBoston does either. It's not explained.

Once again hack journalism out of our outlets.

Probably trading more potential money for more guaranteed money. Cannon's gotta know that the team he works for won't hesitate to cut bait, so guaranteed cash has extra value over promised cash.

 

[RobertWeathers]

Cannon was gonna retire so the NEP guaranteed his deal.

 

[Family]

Probably trading more potential money for more guaranteed money. Cannon's gotta know that the team he works for won't hesitate to cut bait, so guaranteed cash has extra value over promised cash.

I don't think Cannon was at risk of being cut this year, because it's only year 3 of a 5 year contract.

Sometimes when the situation is bad, the team will cut bait in year 3, but that has not been the case with Cannon. I don't know what it was before the restructure, but he would be over a 7 million dollar cap hit right now.

IMO it leaves the contract in perfect position to cut bait, roll with it one more year, or restructure depending on the season Marcus has.

 

[shmessy]

I don't understand the pay cut angle, nor do I think the ghost writer at NBC SportsBoston does either. It's not explained.

Once again hack journalism out of our outlets.

MCI (Volin) of course tweeted ‘Looks like a paycut!’ immediately. Can someone please buy him a safety helmet. Poor boy.........

 

[shmessy]

I love how the MCI still kept digging his hole deeper TWICE after the first "..... so it sounds like a bit of a paycut" tweet:

1. 1. 
      Nathan Altshuler‏ @AltshulerNathan 13h13 hours ago
   2. Replying to @BenVolin
      Due 5.5m, deal could easily be drop to 1m base and convert the other 4.5m to signing bonus. That wouldn’t be a pay cut.
      
      Ben Volin‏Verified account @BenVolin 12h12 hours ago
   3. The details will come out soon enough. I’m betting there’s a pay cut involved
      
      
   4. ‏ @_slleew 7h7 hours ago
      They came out. There wasn't a pay cut.
      
      
   5. Ben Volin‏Verified account @BenVolin 7h7 hours ago
      link?

1. Then the commenter comes through with the link (thanks Miguel!) -
2. 
   
3. ‏ @_slleew 6h6 hours ago
   Retweeted Cap Space=$7,984,519
   
   Cap Space=$7,984,519 @patscap
   Cannon did not take a pay cut. He simply turned his $5.5 million salary into a $1 million salary and a $4.5 million signing bonus. …
   
4. - - - and the MCI slithers away and disappears from his own convo.

Pathetic.

.

 

[DropKickFlutie]

They only do this with guys who are legit stars and people they will keep. Convert salary into guaranteed $ while lowering cap.


.

 

[XLIX]

Put a "you are not allowed to retire" clause in there ffs.

My understanding is he also is contractually forbidden from interviewing for the Houston Texans open GM position....

 

[XLIX]

I thought it got shut down that you can only do it once per year?

What I heard repeated several times on the radio (so take it for what it’s worth) is that Brady’s contract was restructured last year, and since it was a restructure (and not a new deal) then the 1-year moratorium does not apply.