Cooley Restructures

[Longtimefan]

Schneed...Tell us about how Sean Taylor's cap numbers affect the total.

[Schneed10]

Originally Posted by Longtimefan

Schneed...Tell us about how Sean Taylor's cap numbers affect the total.

His signing bonus accelerates and hits us in 2008. We take a cap hit because of it and carry him as dead money in 2008 (brings an all-too-real meaning to that term, doesn't it). It's nothing major, just a million or two.

[SkinsFanSince91]

Originally Posted by SmootSmack

FOX Sports on MSN - NFL - 'Skins rework Cooley deal to save cap space

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.

We have to have the best cap people in the NFL. I swear every offseason we are egregiously over the cap, and somehow we get enough for free agents and draft picks.

If the cap was anything like the US national deficit, Snyder's people would be heroes (at least on a national scale, we still look to save us from the wake of a DS spending spree..haha).

[Longtimefan]

Originally Posted by SC Skins Fan

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.

Not all players are willing to restructure period. It's mostly done upon request for the sole purpose of helping the teams cap situation. I realize it's not a pay cut, rather a good faith gesture and we appreciate that.

[Schneed10]

I've just learned that the Randle-El restructure I listed below did indeed take place as well. The $1.2 million in savings from his accounts for all of the difference between my numbers and the ones provided by PCinOZ. Because we're tying out, it's pretty much official, we're $4.0 million over the cap.

Start: $20.4 million OVER cap

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
Total Savings for Cuts: $11.4 million

Keeping These Players, Restructuring 2008 Base Salary, Prorating over Remaining life of Contract:
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
Total Salary Restructure Savings: $18.8 million

Keeping These Players, Restructuring 2008 Roster Bonuses, Prorating over Remaining life of Contract:
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 - EXECUTED
Total Bonus Restructure Savings: $14.4 million

AFTER EXECUTED TRANSACTIONS: $4.0 MILLION OVER

[Schneed10]

Originally Posted by SkinsFanSince91

We have to have the best cap people in the NFL. I swear every offseason we are egregiously over the cap, and somehow we get enough for free agents and draft picks.

If the cap was anything like the US national deficit, Snyder's people would be heroes (at least on a national scale, we still look to save us from the wake of a DS spending spree..haha).

It's really not rocket science. Hell, I've had the plan mapped out on here for weeks.

As for the debate over whether a player should be applauded for a restructure, I know I sound like a broken record but it needs to be said again. In a simple restructure, the player still gets the same amount of money his contract says he will, he just gets it all up front instead of spread over the course of the season. The player has no incentive to turn this down, and all the incentive in the world to accept it. Players don't do it out of the goodness of their heart. They do it because it's the same money up front.

Now if you see a player agree to a pay cut, then you should applaud them.

[CanadianSkin]

Originally Posted by Mattyk72

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.

Not that I really care, but when looking at accounting terms, it is actually the black not green. I have no idea why and probably should not be correcting a mod, but decided to let you know anyway. Also I need more posts as I am still below 200.. lol.

[Slingin Sammy 33]

Originally Posted by Schneed10

AFTER EXECUTED TRANSACTIONS: $4.0 MILLION OVER

So if we make the below moves we should be $ 14M under the cap, correct?

Start: $20.4 million OVER cap

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

Keeping These Players, Restructuring 2008 Base Salary, Prorating over Remaining life of Contract:
Randy Thomas - $3.7 million saved - EXECUTED
Clinton Portis - $3.2 million saved - yes
Jon Jansen - $3.2 million saved - no
Chris Samuels - $2.8 million saved - yes
Cornelius Griffin - $2.6 million saved - yes
Santana Moss - $1.9 million saved - yes
Casey Rabach - $1.4 million save - yes
Total Salary Restructure Savings: $18.8 million

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

[Dirtbag59]

Originally Posted by hooskins

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

When is Cap Hell going to frezze over? I hear about it every year and it never seems to happen.

[itvnetop]

So if I understand this correctly, an owner has the option to slash salary cap by converting cap money into guaranteed up front? If this is the case, what's the point of a salary cap? Not that I'm complaining (since this helps us) but theoretically, the cap can be loopholed as deep as an owner's pockets go... correct? I wonder why more owners don't do this... I guess Danny boy is just too rich to even care about parting with guaranteed money.

[Longtimefan]

Originally Posted by itvnetop

So if I understand this correctly, an owner has the option to slash salary cap by converting cap money into guaranteed up front? If this is the case, what's the point of a salary cap? Not that I'm complaining (since this helps us) but theoretically, the cap can be loopholed as deep as an owner's pockets go... correct? I wonder why more owners don't do this... I guess Danny boy is just too rich to even care about parting with guaranteed money.

For the reasons you state, should we be happy to have an owner like Dan Snyder, or would you rather John Cooke had bought the team?

For the sake of some owners, I'm sure they're most happy there is a salry cap because if there weren't Dan Snyder would really show them what he could do with his money. He'd field an all star team at every position from top to bottom.

[skinsguy]

Originally Posted by Schneed10

It's really not rocket science. Hell, I've had the plan mapped out on here for weeks.

As for the debate over whether a player should be applauded for a restructure, I know I sound like a broken record but it needs to be said again. In a simple restructure, the player still gets the same amount of money his contract says he will, he just gets it all up front instead of spread over the course of the season. The player has no incentive to turn this down, and all the incentive in the world to accept it. Players don't do it out of the goodness of their heart. They do it because it's the same money up front.

Now if you see a player agree to a pay cut, then you should applaud them.

This sounds pretty rock solid. I wouldn't see any player refusing to restructure if a big chunk of change is converted to guaranteed money. Heck, it's like my company giving me my year's salary up front (of course not nearly as impressive as several million dollars!) This also appears to be an incentive in itself. What better way to keep your players than to say, "tell ya what, you're such a valuable player to us that we're just going to go ahead and give you a chunk of your contract now. I'm sure you'll earn it during the season!"

I don't ever see the Redskins getting into cap trouble as long as Danny has deep pockets. My question is, what would happen if this "share the wealth" program between owners in the league goes sour, and we have an uncapped year? I've heard we'd have to dump players left and right, but I guess I just don't understand the whole process.

[MPNRedskins]

That's awesome Cooley restructured his deal. Thanks Chris. Hopefully, the management won't let you down and get some quality players.

[FRPLG]

Originally Posted by SkinsFanSince91

We have to have the best cap people in the NFL. I swear every offseason we are egregiously over the cap, and somehow we get enough for free agents and draft picks.

If the cap was anything like the US national deficit, Snyder's people would be heroes (at least on a national scale, we still look to save us from the wake of a DS spending spree..haha).

As Schneed said it is not that they are all that great although I do think they do a good job. There are basically two ways to handle the cap.

Straight forward
Cash over cap

Straight forward is as it seems. Not a ton of things like roster bonuses but they do have gradually escalating salaries. Put a good signing bonus on and you have players from the Eagles for example.

Cash over cap means you pay a somewhat smaller signing bonus but have two or three roster bonuses down the line and pretty low salaries to start with pretty high salaries in the end.

Example:

straight forward:
5 year deal
sb of 5 mil
salaries
500k 1mil 1mil 1.5mil 1.5mil = 5.5mil

cap numbers
1.5mil 2mil 2mil 2.5mil 2.5mil = 10.5mil

cash over cap:
5 year deal
sb of 3mil
salaries
500k 500k 500k 1mil 3mil = 5.5mil
rb
yr2-1mil yr3-1mil = 2mil

cap numbers
1.1mil 2.1mil 2.1mil 1.6mil 3.6mil = 10.5mil

so the cap numbers are slightly different but overall the salaries are the same and guaranteed money is the same.

then what happens in cash over cap is the roster bonuses get converted to signing bonuses which allows them to prorate so the cap numbers change to.
1.1mil 1.350mil 1.683mil 2.183mil 4.183mil

so most of the money gets pushed forward. as the expensive years come up salaries are turned into bonuses and get prorated also and restuctures change some other stuff but in the end the only actual expensive year for a guy is his last. if you keep your expensive guys per year to just a couple it is very manageable in the end. Some would say you have more flexibility with the cash over cap method if you execute it well. It kills you thiugh if you have bad talent evaluation because you become more "stuck" with a guy.

[GTripp0012]

Originally Posted by Mattyk72

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.

4 million ish in the red.

Has Todd Wade been released already?