Patriots Tendered Blount

[BelichickFan]

Patriots made May 9 tender offer to LeGarrette Blount

First, the team acquires exclusive negotiating rights with the player, if he doesn’t sign elsewhere before July 22. From July 22 through the Tuesday after Week 10 of the regular season, the player can sign only with his prior team. Second, if the May 9 tender is made and the player signs with a new team before July 22, the transaction counts toward the compensatory draft pick formula for 2018.

So if he signs before 7/22 he's part of comp pick formula. If not he can only sign with the Patriots through Week 10.

 

[supafly]

I didn't even realize this was an option. Wasn't he an unrestricted free agent?

 

[long distance]

Great move by BB&co. Less so for Blount I guess.

But they did invest in his great season and believe some compensation is in order..

 

[long distance]

I didn't even realize this was an option. Wasn't he an unrestricted free agent?

With the passing of May 9 came the expiration of the impact of free-agency contracts upon the compensatory draft-pick formula. With one important exception.

For any teams that made a tender offer to any of its unrestricted free agents before May 9, the team secures two key rights...


here full article:
Patriots made May 9 tender offer to LeGarrette Blount


It’s a rarely-used device, as one source explained it to PFT. Over the years since the free agency system was put in place, similar offers have been made only a handful of times.

 

[Patjew]

Man that is shrewd.

 

[irishfanatic]

No Days Off

 

[Froob]

Lol this is really a rule? NFLPA is terrible.

 

[One-If-By-Sea]

Man that is shrewd.

Why didnt they do the same thing with Floyd?

 

[fnordcircle]

Good business move.

As a fan of the player and what he's brought to our team I'm not stoked.

 

[Froob]

Why didnt they do the same thing with Floyd?

Because BB blew it. Inflated ego and trying to be smartest guy in the room.

 

[Sfpat]

Why didnt they do the same thing with Floyd?

The tender is for 10% above their previous year salary. For Floyd, this would have been a lot of money (don't want to look up the exact amount).

 

[Patjew]

Why didnt they do the same thing with Floyd?

That's a good question.

Maybe because they're so loaded at WR? But they seem to be at RB too, so who knows. Maybe Floyd just didn't really "get it."

Edit - the replies above this one seem to explain it well.

 

[bbobbo]

Why didnt they do the same thing with Floyd?

patriots would be on the hook for a 1-year, $8m contract if floyd signed the tender.
.

 

[maineman209]

I didn't even realize this was an option. Wasn't he an unrestricted free agent?

I'm guessing that more than half the owners and GMs in the league didn't realize that this was an option.

The OP explained it very well, I think. In an nutshell, the tender extends that date on which UFAs become SFAs from May 10 to July 22nd. It also turns effectively Blount into and RFA if he hasn't signed elsewhere by July 22nd.

Yowzer!

 

[Sfpat]

patriots would be on the hook for a 1-year, $8m contract if floyd signed the tender.
.

His deal with the Vikings is reportedly $1.5 MM with incentives up to $6 MM total.

 

[maineman209]

Because BB blew it. Inflated ego and trying to be smartest guy in the room.

Nope. Floyd would've been far more expensive. His 2016 salary was $7.44M. The tender would have increased that to $8.2M for 2017.

 

[Froob]

Nope. Floyd would've been far more expensive. His 2016 salary was $7.44M. The tender would have increased that to $8.2M for 2017.

Cap is crap .

 

[maineman209]

Cap is crap .

In the words of the 21st century's greatest philosopher, "It is what it is."

 

[BelichickFan]

His deal with the Vikings is reportedly $1.5 MM with incentives up to $6 MM total.

10% over last year's salary which was about $7.3M.

 

[long distance]

Around 2M contract should bring the 7th.

Maybe not much . but BB brought in some useful players in trade for 7th before..