Portis restructures too
 

[left][font=Times New Roman]At a time when the Washington Redskins are facing a potential salary purge that, by some estimates, could leave them with roughly 25 veterans under contract, we're told that the team has restructured the deal of running back Clinton Portis in order to create some cap room.[/font]



[font=Times New Roman]Specifically, a sizeable roster bonus owed to Portis has been converted to a guaranteed payment, which spreads the total value of the money over four years. Portis' contract expressly authorized the team to make the move.[/font]



[font=Times New Roman]Meanwhile, the thinking is that all non-core Redskins players making more than the minimum salary for 2006 will be jettisoned by midnight Thursday in order to enable the team to get under the salary cap, which is expected to be in the range of $95 million, if the CBA is not extended. (The teams still haven't received the official numbers from the league office, due to the state of flux regarding the CBA talks.)[/font]



[font=Times New Roman]One guy pegged for a release likely won't be cut loose just yet. Linebacker LaVar Arrington has a huge cap number for 2006 -- but the cap charge will be even bigger if he's released. With a $6.5 million roster bonus not due until July, the team can hang onto him for now and then cut the cord as the deadline for coughing up the money approaches.[/font]



[font=Times New Roman]Even if a new CBA is done, look for the 'Skins to keep him around until the eve of the deadline for paying the bonus, since doing so would keep him from getting a taste of the big money that flows on the open market in the early stages of free agency. [/font]



[font=Times New Roman]If it happens that way, Arrington can thank his agents for giving the 'Skins the motivation to stick it to him on his way out the door. After his current contract was signed in December 2003, Arrington's agents filed a grievance claiming that the team fraudulently removed from the final draft of the contract a second $6.5 million roster bonus. [/font]
[font=Times New Roman][/font]
[font=Times New Roman]source: profootballtalk.com[/font]
[font=Times New Roman][/font]
[font=Times New Roman]If this is a duplicate thread, I apologize. I did a search and couldn't find anything on the Portis deal.[/font][/left]

Re: Portis restructures too
 

So how much will Portis save the team? So far it seems like we're about $1.5 million better off with Brunell restructuring, if Portis can save us that much we only have about $17 million to go! Awesome!

Re: Portis restructures too
 

[QUOTE=paulskinsfan]If this is a duplicate thread, I apologize. I did a search and couldn't find anything on the Portis deal.[/QUOTE]

I mentioned it in the Brunell restructures thread, but it's cool. It deserved its own space. It's interesting that it says Portis' contract allowed the Redskins to do that, spread his bonus over the years. I wonder how many other contracts are written that way.

Re: Portis restructures too
 

i am going to like 13 he restructured too threads. makes it so exiting :D

Re: Portis restructures too
 

[QUOTE=ArtMonkDrillz]So how much will Portis save the team? So far it seems like we're about $1.5 million better off with Brunell restructuring, if Portis can save us that much we only have about $17 million to go! Awesome![/QUOTE]

there's 11$mill in obvious cuts, and cutting the roster filler can save another 5$mill.

arringotn might stick around if he reworks his deal to make him a smaller hit on the cap this year. he'd get far more money with a restructure then with being released.

Re: Portis restructures too
 

[QUOTE=That Guy]arringotn might stick around if he reworks his deal to make him a smaller hit on the cap this year. he'd get far more money with a restructure then with being released.[/QUOTE]

Nope sorry Arrignton won't get nothing if he gets release from Washington he would count in the cap for more than 10 mill either if he stays or goes if he gets release LA. wil lget money and will be more via FA.

Re: Portis restructures too
 

we always have something crazy to talk about in the offseason. hopefully this isn't the first offseason we lose

Re: Portis restructures too
 

i get the feeling dboyz wants arrington in dallas uniform

Re: Portis restructures too
 

[QUOTE=dmek25]i get the feeling dboyz wants arrington in dallas uniform[/QUOTE]

I get the feeling D'boyz wants another cowboy in his bed...

Re: Portis restructures too
 

hahaha I wouldn't mind getting him but I was just answering the comment we all have players of other teams that we wouldn't mind seeing in ours or yours

Re: Portis restructures too
 

[QUOTE=D'BOYZ]hahaha I wouldn't mind getting him but I was just answering the comment we all have players of other teams that we wouldn't mind seeing in ours or yours[/QUOTE]

You wouldn't mind getting him in your bed or on your roster? jk

Re: Portis restructures too
 

dboyz,you going brokeback on us?

Re: Portis restructures too
 

[QUOTE=D'BOYZ]Nope sorry Arrignton won't get nothing if he gets release from Washington he would count in the cap for more than 10 mill either if he stays or goes if he gets release LA. wil lget money and will be more via FA.[/QUOTE]

reread the post please. if arrington makes himself cheaper for 2006 for danny, he'll make more money overall by sticking around in DC. no one is going to give him anything like the crazy contract he currently has. by the time he'd be released the market will have dried up and there won't be money left for him from other clubs.

he'd be released march 31st if at all, a full month into free agency after everyone's budget is maxed out.

Re: Portis restructures too
 

[QUOTE=D'BOYZ]Nope sorry Arrignton won't get nothing if he gets release from Washington he would count in the cap for more than 10 mill either if he stays or goes if he gets release LA. wil lget money and will be more via FA.[/QUOTE]

I am sure you are a nice guy but I get creeped out when you jump in like that. Question... is there one of us[Redskin fan] over on your side looking in?

Re: Portis restructures too
 

how do u guys even understand his first post...he barely even knows how to talk

Re: Portis restructures too
 

[QUOTE=steveo395]how do u guys even understand his first post...he barely even knows how to talk[/QUOTE]

You are killing me SteveO....that is funny stuff on a dark day!!! We are all going :insane: I would say! Keep the faith!!!!

Re: Portis restructures too
 

Interesting update from profootballtalk.com on Portis' new deal, particularly the part about him being a free agent earlier.

PORTIS GETS MORE MONEY, SHORTER DEAL

We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years.

With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27.

The agreement is contingent upon an extension to the CBA not being reached.

Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary.

The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere.

In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000.

Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009.

We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years.

Re: Portis restructures too
 

If it's true, I'm happy and disappointed. I'm happy because we'll save cap space this year. I'm upset because it means opens up the possibility that he'll leave in a few seasons. I want to see him retire here.

Re: Portis restructures too
 

well they better resign portis after that contract runs out...i hope they only made it shorter because of the 30% rule...if he wants his salary to go up a lot after 2008

Re: Portis restructures too
 

crazy they built that into portis's contract.

Re: Portis restructures too
 

Apparently Springs has restructured too.

Re: Portis restructures too
 

As long as Portis stays on the roids....we're good.

Re: Portis restructures too
 

Here's some details about Portis' contract from ProFootballTalk.com:

[url]http://www.profootballtalk.com/rumormill.htm[/url]

PORTIS GETS MORE MONEY, SHORTER DEAL

We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years.

With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27.

The agreement is contingent upon an extension to the CBA not being reached.

Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary.

The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere.

In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000.

Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009.

The deal also includes specific language exempting Portis from any duty to refund bonus money if there is a work stoppage. On Wednesday, we explained that, absent such protections, players might face claims that a work stoppage equates to a default, requiring the players to pay back bonus money pursuant to the specific terms of their contracts.

We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years.

Re: Portis restructures too
 

[QUOTE=That Guy]reread the post please. if arrington makes himself cheaper for 2006 for danny, he'll make more money overall by sticking around in DC. no one is going to give him anything like the crazy contract he currently has. by the time he'd be released the market will have dried up and there won't be money left for him from other clubs.

he'd be released march 31st if at all, a full month into free agency after everyone's budget is maxed out.[/QUOTE]

Not exactly because his base salary for this year is like 500 and he has a roster bonus of 6.5 if I'm correct so he would be making 7mill staying in your team even though he will count 12.5 into the cap because of his signing bonus.

Teams like Arizona, Cleveland and Minnesota that are 20mill under the cap could offer him a 5 to 6 year deal with a 9 - 10 signing bonus. And for a guy of his age and talent it won't be hard to find a new home and he would be making 3 more mill that he would here.

Re: Portis restructures too
 

Hey D'Boyz

That is too bad that you are losing Larry Allen. He was the most dominant player at his position in your history.

How are the Girlz going to replace Glover? He has been the lynchpin of your D since he got there.

Re: Portis restructures too
 

[QUOTE=D'BOYZ]Not exactly because his base salary for this year is like 500 and he has a roster bonus of 6.5 if I'm correct so he would be making 7mill staying in your team even though he will count 12.5 into the cap because of his signing bonus.

Teams like Arizona, Cleveland and Minnesota that are 20mill under the cap could offer him a 5 to 6 year deal with a 9 - 10 signing bonus. And for a guy of his age and talent it won't be hard to find a new home and he would be making 3 more mill that he would here.[/QUOTE]

And you are wrong on lavar. If they cut him later they save either 5 or 7 million on this years cap (I think it is 7). Maybe LaRoi will be crushing Bledsoe next year! Ha ha ha ha

Re: Portis restructures too
 

[QUOTE=D'BOYZ]Not exactly because his base salary for this year is like 500 and he has a roster bonus of 6.5 if I'm correct so he would be making 7mill staying in your team even though he will count 12.5 into the cap because of his signing bonus.

Teams like Arizona, Cleveland and Minnesota that are 20mill under the cap could offer him a 5 to 6 year deal with a 9 - 10 signing bonus. And for a guy of his age and talent it won't be hard to find a new home and he would be making 3 more mill that he would here.[/QUOTE]

why would they do that? peterson is just as good and he's already free and all the FAs are going to make peanuts this offseason due to the player flood. in there's no cba, the viking will NOT be a high spending team, nor will arizona. cleveland might be. If lavar stays, and the cap dies, he can get the full contract. if he resigns elsewhere (which he said a million times he doesn't want to do) the first years are going to be crap money, whereass here, he'll start to hit the backkload as the salary cap goes away.

Re: Portis restructures too
 

[QUOTE=Grim21Reaper]And you are wrong on lavar. If they cut him later they save either 5 or 7 million on this years cap (I think it is 7). Maybe LaRoi will be crushing Bledsoe next year! Ha ha ha ha[/QUOTE]

no they wont. not unless there's a new cba.

Re: Portis restructures too
 

I heard on the local DC news that the team is talking to Lavar about restructuring

Re: Portis restructures too
 

Not to hijack the thread, but....

How can PFT have any credibility when the MODS on their board engage in some pretty ugly, vile and ignorant racist BS on a regular basis.

Re: Portis restructures too
 

[QUOTE=diehardskin2982]I heard on the local DC news that the team is talking to Lavar about restructuring[/QUOTE]

they have been for over a month :( i'd be much happier if something actually got done though.

Re: Portis restructures too
 

[QUOTE=RiggoRules]Not to hijack the thread, but....

How can PFT have any credibility when the MODS on their board engage in some pretty ugly, vile and ignorant racist BS on a regular basis.[/QUOTE]

haven't heard about that before... got any specifics or examples?

Re: Portis restructures too
 

Sure...

Go to:

[url]http://www.profootballtalk.com/index.htm[/url]

Then, at the top, click on the "Message Boards" link. Click on the link at that jump page.

Then you will find topics like: "What a shocker, a black QB scores poorly on his Wonderlic" and on the second page, a thread titled "Hiring and firing black coaches".

Look, I'm anything but politically correct. I'll even defend their right to spew their hatred and be idiots. Just raises some serious questions in my mind about the credibility of anything coming out of PFT.

Re: Portis restructures too
 

[QUOTE=RiggoRules]Sure...

Go to:

[url]http://www.profootballtalk.com/index.htm[/url]

Then, at the top, click on the "Message Boards" link. Click on the link at that jump page.

Then you will find topics like: "What a shocker, a black QB scores poorly on his Wonderlic" and on the second page, a thread titled "Hiring and firing black coaches".

Look, I'm anything but politically correct. I'll even defend their right to spew their hatred and be idiots. Just raises some serious questions in my mind about the credibility of anything coming out of PFT.[/QUOTE]

I don't think PFT has much credibility here anyways. Sure we cite some of their articles sometimes, but everyone knows to take their "articles" with a grain of salt.

As to their message board, unfortunately there are a lot of idiots everywhere. I think they might have some boneheaded members, but I haven't seen anything indicating that the mods are racist.

Re: Portis restructures too
 

[QUOTE=CrazyCanuck]Here's some details about Portis' contract from ProFootballTalk.com:

[url="http://www.profootballtalk.com/rumormill.htm"]http://www.profootballtalk.com/rumormill.htm[/url]

PORTIS GETS MORE MONEY, SHORTER DEAL

We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years.

With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27.

The agreement is contingent upon an extension to the CBA not being reached.

Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary.

The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere.

In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000.

Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009.

The deal also includes specific language exempting Portis from any duty to refund bonus money if there is a work stoppage. On Wednesday, we explained that, absent such protections, players might face claims that a work stoppage equates to a default, requiring the players to pay back bonus money pursuant to the specific terms of their contracts.

We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years.[/QUOTE]

Portis was due 3.5M this year in his old contract and under this plan he will receive 1M less so the most this will save on the cap is 1M and it would make him a FA three years early at the age of 27. Getting 300K extra through 08 and becoming a FA in his prime is a great deal for Portis. I'm surprised he let this be contingent on the CBA outcome. He should have insisted on this being done either way or no deal.

Re: Portis restructures too
 

[QUOTE=That Guy]no they wont. not unless there's a new cba.[/QUOTE]

So no new CBA will prevent them from dropping him on June 1st and saving 7 million for this year?

Are you sure?

Re: Portis restructures too
 

[QUOTE=Pocono]Portis was due 3.5M this year in his old contract and under this plan he will receive 1M less so the most this will save on the cap is 1M and it would make him a FA three years early at the age of 27. Getting 300K extra through 08 and becoming a FA in his prime is a great deal for Portis. I'm surprised he let this be contingent on the CBA outcome. He should have insisted on this being done either way or no deal.[/QUOTE]

People may disagree with me on this one but the way that they are working Portis, he is due for a big injury and personally I think they would be better off with another back in two years. That is just my opinion and I am not taking anything away from CP's performance last year which was phenomenal.

Re: Portis restructures too
 

[QUOTE=Grim21Reaper]So no new CBA will prevent them from dropping him on June 1st and saving 7 million for this year?

Are you sure?[/QUOTE]

yeah, he'll be 12+mill on the cap this season regardless of when he's dropped. He may still be dropped before his option bonus comes due though.

Re: Portis restructures too
 

[QUOTE=That Guy]yeah, he'll be 12+mill on the cap this season regardless of when he's dropped. He may still be dropped before his option bonus comes due though.[/QUOTE]

Then why have I read in more than one outlet that they can shift the 7 million to next year depending on when they drop him. I think you are wrong on this one.

Re: Portis restructures too
 

So 5 people have restructured so far.(Brunell,Jansen,Thomas,Portis,Springs) Does anyone have any idea of how much cap room this will save us in 06