Restructuring Mankins and Mayo

[mgteich]

It seems that transferring all but the minimum of their salary to a signing bonus give us $5M in cap room. Is this true?

If so, we can expect to have this money available later as needed, since this type of restructure is usually a no-brainer for everyone concerned.

 

[mayoclinic]

I'm not a capologist and am not competent to answer your question. But I would also like to know what the ramifications of such a move would be in terms of potentially increasing the dead space cap hit beyond 2014. I would be cautious about any restructuring of Mankins in particular that ties the team's hands beyond this year.

 

[Sciz]

Restructuring Mankins would save roughly $3.5M against this year's cap by adding half of that to each of the next two years. It changes the cap savings from releasing him next offseason from a current $7M to just under $3.5M. That money is hitting the cap, it's just a matter of if you want it this year, split over the next two, or split over the next three.

Restructuring Mayo would save almost $1.8M by adding a third of that to each of the next three seasons' cap hits. Personally, I'd much rather just take that $1.8M this season and have more flexibility to restructure in future years, such as next season when the "convertible" part of his salary more than doubles compared to this season.

 

[Patsrock]

It seems that transferring all but the minimum of their salary to a signing bonus give us $5M in cap room. Is this true?

If so, we can expect to have this money available later as needed, since this type of restructure is usually a no-brainer for everyone concerned.

I wouldn't want to add on to cap hits in 2015-16-17.

I look at it being let them play out this years at current value. And in 2015 play the restructure game.

In 2015 Mankins and Mayo are both over 10M in cap hits. If cut/traded in 2015 Pats can gain almost 11.3M in space. And would be easier to restructure then with less future cap hits.

 

[Brady6]

It seems that transferring all but the minimum of their salary to a signing bonus give us $5M in cap room. Is this true?

If so, we can expect to have this money available later as needed, since this type of restructure is usually a no-brainer for everyone concerned.

Is this reported or is this your own thinking?

 

[patsfaninpa]

Mankins has 3 years left. His base is 6.25m. We only save 2m because of his bonus being spread out if we cut him. . The guy replacing him will prob cost 2m. I don't see an improvement in the team by letting him go. I don't want to extend his contract. But, by changing his salary to a bonus. We can lower the cap hit by about 4m. Though, I believe we have to keep him at the minimum. Say, we save 3.5m this year. Why not? We're keeping him anyway. Regardless of how many people biatch and moan about him. How many lg's have shown the toughness to play thru injury that he has? How many can play LT in a pinch?

 

[mgteich]

Please feel to check my arithmetic. As others have indicated, what we are discussing is moving 2014 cap money to future years, as is the case with a restructure with no change in compensation. The player is simply paid almost all of his salary in a bonus. We do this almost every year with a couple of players.

MANKINS
2014 salary - $6,250,000 with a cap effect of $6,250,000

MANKINS ALTERNATIVE
or 2014 bonus $5,300,000 or $1.767M plus $950K salary for a cap savings of $3.533M.
Thus, $1.767M a year would moved from 2014 to 2015 and 2016.
=============================

We could calculate Mayo. The savings there is over $1.5M ($1.9M I think)

Is this reported or is this your own thinking?

 

[superpats]

Heres how that works,bear with me. Ok lets say mankins or mayo have 10million cap hit. Now say 5 mil of that is this yrs pay and 5 mil was signing bonus when he signed spread out each yr equally. Now his yearly income can be turned into more signing bonus $$ and thus divided up between this yr and each remaining yr. So if there is 3 yrs left that means 5million divided by 3 is our cap relief this yr. The other third gets transferred to next yr and the other third the final yr of his contract. So the cap relief this yr is 1.7 mil times 2 Meaning 3.4million cap Space this yr but would mean an xtra 1.7 million the next 2 yrs which doesnt really handcuff to him after this yr. Just means cutting him next yr saves slightly less cap space. No big problem. He can still be cut next yr. This yr he cant either way.

 

[mgteich]

The only risk to the team is that Mankins occurs if we want to cut him before the season starts. We would owe the same money as soon as Mankins is on the roster for Game 1. IMHO, the future cap hit of Mankins is irrelevant. We are discussing cap accounting moves. What matters every year with regard to a player is NOT cap effect. Rather, we worry about new money.

Consider Wilfork. Folks moan about the $11.6M. To me what matters is the $8M of new money.

I understand folks not wanting to move cap money from 2014 into the future. Not only do we do this on a couple of restructures a year. We also do it on almost every new contract when we choose to have significant bonuses instead of guaranteed of future salaries.

Mankins has 3 years left. His base is 6.25m. We only save 2m because of his bonus being spread out if we cut him. . The guy replacing him will prob cost 2m. I don't see an improvement in the team by letting him go. I don't want to extend his contract. But, by changing his salary to a bonus. We can lower the cap hit by about 4m. Though, I believe we have to keep him at the minimum. Say, we save 3.5m this year. Why not? We're keeping him anyway. Regardless of how many people biatch and moan about him. How many lg's have shown the toughness to play thru injury that he has? How many can play LT in a pinch?

 

[superpats]

Cowboys were first to do that to sign sanders in 95. Restructured Aikman. Im all for free cap space to fix teams holes. Also means cutting fat. Players who r not starter quality difference makers like Gregory soapaga,wilson wilfork

 

[mgteich]

So, we agree $3.5M for Mankins and $1.8M for Mayo. I got $1.9M for Mayo because I rolled in the Roster Bonus.

For me, this is a no-brainer. We do it every year. I see no reason for this year to be any different.

Also, these two restructures are the approximate net costs needed after June 1. So for me, I don't worry about these these restructures now, unless the team is going to delay any decision about Wilfork until June or July in which case the restructures would need to be done in February or March.

Restructuring Mankins would save roughly $3.5M against this year's cap by adding half of that to each of the next two years. It changes the cap savings from releasing him next offseason from a current $7M to just under $3.5M. That money is hitting the cap, it's just a matter of if you want it this year, split over the next two, or split over the next three.

Restructuring Mayo would save almost $1.8M by adding a third of that to each of the next three seasons' cap hits. Personally, I'd much rather just take that $1.8M this season and have more flexibility to restructure in future years, such as next season when the "convertible" part of his salary more than doubles compared to this season.

 

[Brady6]

Please feel to check my arithmetic. As others have indicated, what we are discussing is moving 2014 cap money to future years, as is the case with a restructure with no change in compensation. The player is simply paid almost all of his salary in a bonus. We do this almost every year with a couple of players.



MANKINS

2014 salary - $6,250,000 with a cap effect of $6,250,000



MANKINS ALTERNATIVE

or 2014 bonus $5,300,000 or $1.767M plus $950K salary for a cap savings of $3.533M.

Thus, $1.767M a year would moved from 2014 to 2015 and 2016.

=============================



We could calculate Mayo. The savings there is over $1.5M ($1.9M I think)

I'm not questioning your arithmetic I'm just curious if this is your own speculation or this is something out in media. I just had not heard Mayo mentioned before this so I was curious if you came up with in which case great find on your part or if a reporter wrote about it in which case I was going to ask for the link.

I don't know jack crap about the cap so I wouldn't be a good person to double check anything. I rely on Miguel's page and posters like you for any cap insight.

 

[mgteich]

I have not seen this in the media.

This discussion doesn't seem to be of much interest there.

After all, this does not affect decisions to be made in the next couple of months.

The reason for the post is to point out that we have restructure money available, as we always do. It is not news to the media that we can take generate cap room by taking every salary over $1M and converting the excess over minimum to a bonus, thus creating current year cap room and thus moving money to future years.

I'm not questioning your arithmetic I'm just curious if this is your own speculation or this is something out in media. I just had not heard Mayo mentioned before this so I was curious if you came up with in which case great find on your part or if a reporter wrote about it in which case I was going to ask for the link.

I don't know jack crap about the cap so I wouldn't be a good person to double check anything. I rely on Miguel's page and posters like you for any cap insight.

 

[mayoclinic]

Restructuring Mankins would save roughly $3.5M against this year's cap by adding half of that to each of the next two years. It changes the cap savings from releasing him next offseason from a current $7M to just under $3.5M. That money is hitting the cap, it's just a matter of if you want it this year, split over the next two, or split over the next three.

Restructuring Mayo would save almost $1.8M by adding a third of that to each of the next three seasons' cap hits. Personally, I'd much rather just take that $1.8M this season and have more flexibility to restructure in future years, such as next season when the "convertible" part of his salary more than doubles compared to this season.

That's pretty much what I assumed.

I really don't want to restructure Mankins and push his high cost into 2015 unless the team is really up against a wall. As things stand right now, we're in a position to cut Mankins and move on in 2015. I don't know whether that will happen, but I'd like to keep that door open if at all possible.

 

[Miguel]

Ways to reduce Mankins? cap number atriots Salary Cap

lists 4 ways to reduce Mankins' cap number.

Personally, I would leave Mankins' contract alone but I could see the Patriots doing a restructure if they need the cap space.

 

[Deus Irae]

Extend Mankins a year and convert this year's base to (mostly) a bonus. That takes him from 34 years old at the end to 35, which is not a big deal, since the TV contract moneys are supposed to kick in. If he's still playing well come 2015, the money won't be an issue. If he's not, the dead money won't be significant enough to cry about.

Mayo's money can just be shifted without significant issue, given the lack of dead money on the back end of his deal.

With Mankins, Mayo, Wilfork, Gregory, Connolly, Gostkowski, Sopoaga, A. Wilson and Amendola, the Patriots have the contracts to cut/renegotiate in order to free up plenty of money for 2014 signings. Then, come 2015, the Hernandez money will come off the books, one way or the other, and the Patriots will have enough to cover (most, if not all, of) what they push forward from this year.