Cooley Restructures
 

[url=http://msn.foxsports.com/nfl/story/7796664/]FOX Sports on MSN - NFL - 'Skins rework Cooley deal to save cap space[/url]

FOXSports.com has learned Washington converted an $11 million roster bonus Cooley was scheduled to receive into guaranteed money. The move is believed to have lowered Cooley's 2008 cap number from a team-high $12.2 million to $4.4 million.

Re: Cooley Restructures
 

Thats 8mil right there, and expect more of this to come. Are people still worried about cap hell?

Re: Cooley Restructures
 

So wait, teams can restructure contracts and reduce cap numbers so there's no need to cry from the mountaintops that we're $20 million over the cap in the previous November? Does Peter King know about this?

Re: Cooley Restructures
 

Sweet. Net cap space of almost 8 million. Now we can sign Zack Thomas, since he's available now ;)

Re: Cooley Restructures
 

We do it every year. Seems like this year more and more star players want to do this because there is a feeling at Redskins Park we're contenders and very close to something special.

SO ALL THE DOOMSDAY SKINS FANS JUST SIT BACK AND WATCH

Re: Cooley Restructures
 

[quote=hooskins;422228]Thats 8mil right there, and expect more of this to come. Are people still worried about cap hell?[/quote]

With Dan Snyder taking care of the cash, we're NEVER in cap trouble. :)

Thanks Cooley, for being a team guy.

Re: Cooley Restructures
 

Yeah, Cooley is a big time team guy. And that's a positive about our evil owner. He's got so much frickin money, he doesn't mind shelling out all of this cash.

Re: Cooley Restructures
 

[quote=Soup's Uncle;422244]Yeah, Cooley is a big time team guy. And that's a positive about our evil owner. He's got so much frickin money, he doesn't mind shelling out all of this cash.[/quote]

That made no sense. Why is he evil? Because he's rich and good with money?

Re: Cooley Restructures
 

To the cap experts: With this latest restructure where do we now stand for cap room? Probably still in the red I'm guessing but getting a lot closer to the green.

Re: Cooley Restructures
 

We are around 8-12mil in the red right?

Re: Cooley Restructures
 

[quote=Buster;422232]With Dan Snyder taking care of the cash, we're NEVER in cap trouble. :)

Thanks Cooley, [B]for being a team guy[/B].[/quote]
why i agree with Cooley being a team guy, this kind of move doesn't really mean that. all it means is that Cooley's money is guaranteed. not a whole lot of guaranteed money in the nfl

Re: Cooley Restructures
 

[QUOTE=Mattyk72;422257]To the cap experts: With this latest restructure where do we now stand for cap room? Probably still in the red I'm guessing but getting a lot closer to the green.[/QUOTE]

I'd guess we are about $12M in the red right now. I haven't had time to update the cap sheets but I will try to soon.

Re: Cooley Restructures
 

What Cooley has done is typical of what many players have done on this team for several years, and we all appreciate it. It speaks volumes about the type players we have on the team who are willing to restructure, some on more than one ocasion.

Re: Cooley Restructures
 

Working off the familiar format I've been posting, note the moves that have already been made:

[QUOTE][B]Start: $20.4 million OVER cap[/B]

Potential Roster Cuts:
Phillip Daniels - $3.0 million saved
Mark Brunell - $3.4 million saved
Shawn Springs - $2.5 million saved
Pete Kendall - $1.8 million saved
Todd Wade - $700K saved
[B]Total Savings for Cuts: $11.4 million[/B]

[B]Keeping These Players, Restructuring 2008 Base Salary, Prorating over Remaining life of Contract:[/B]
Randy Thomas - $3.7 million saved - EXECUTED
Clinton Portis - $3.2 million saved
Jon Jansen - $3.2 million saved
Chris Samuels - $2.8 million saved
Cornelius Griffin - $2.6 million saved
Santana Moss - $1.9 million saved
Casey Rabach - $1.4 million saved
[B]Total Salary Restructure Savings: $18.8 million[/B]

[B]Keeping These Players, Restructuring 2008 Roster Bonuses, Prorating over Remaining life of Contract:[/B]
Ladell Betts - $1.7 million saved
Clinton Portis - $0.4 million saved
Chris Cooley - $9.2 million saved - EXECUTED
Andre Carter - $1.9 million saved - EXECUTED
Antwaan Randle-El - $1.2 million saved
[B]Total Bonus Restructure Savings: $14.4 million[/B][/QUOTE]

Restructures that I'm aware of consist of Randy Thomas, Andre Carter, and Chris Cooley. There could be others I'm not aware of. Cooley shaved $9.2 million alone.

My numbers above are not official, but they follow the same logic the Skins have used in the past. Carter and Thomas shaved nearly $6 million between them. Cooley shaved $9.2.

So we should be down $15.2 million from the $20.4 million we started at. This means we're still in the red by $5.2 million. PCinOZ's numbers would have us at $4.0 million over the cap after the Cooley restructure. So it's fair to say we're right around $4.0 - $5.2 million over the cap right now.

And you'll note there are plenty of moves listed above that don't have the word "EXECUTED" next to them, which means there are still plenty of ways to bring the cap number down. We're good to go.

Re: Cooley Restructures
 

[quote=Longtimefan;422274]What Cooley has done is typical of what many players have done on this team for several years, and we all appreciate it. It speaks volumes about the type players we have on the team who are willing to restructure, some on more than one ocasion.[/quote]

Like Dmek said, taking the guaranteed money is just good business sense. Everyone likes Cooley, but I'm not sure we should go sing the moral virtues of guys who are willing to take a check for $10 mil ... I think we'd all do that right? Not exactly a hardship, c'mon. The person you should feel sorry for is the drive thru teller who will have to deposit that thing ...

These aren't pay cuts (as they tried to get Springs to take last year) these are restructures and fancy accounting. Not saying its a bad thing, let's just not get too carried away about what the "volumes" it speaks about the players.