Current Redskins Salary Cap Status - 2008

[goingdeep]

so are we still over cap?

[Schneed10]

Originally Posted by goingdeep

so are we still over cap?

No, we're under now. See the Current Status section at the top. We're $1.4 million under.

[skinsfan69]

Originally Posted by Schneed10

In this thread, CrazyCanuck and I will periodically update the Salary Cap status of the Washington Redskins. As players restructure, resign, are signed as free agents, drafted, cut, and traded, we will do our best to keep the community updated on the cap implications of each transaction. This thread is also designed to house analysis and insight regarding the Redskins' likely course of action in free agency and the draft. The salary cap can often provide an indication of the team's intended approach to free agency - aggressive vs passive, etcetera.

We'll start off with a summary of the Redskins current cap situation and where they're likely headed before free agency opens in March.

In short, the numbers in the table below illustrate that the Redskins are currently $1.4 million under the cap. This assumes that Brunell and Cartwright's contracts have voided. And then once the team makes some more standard moves listed below, the team should have an estimated $10.4 million in cap room heading into free agency.

Numbers presented below are in millions:

You cap geeks do a GREAT JOB explaining this to dumb asses like me. Great post! My question is about Springs. He has a huge number this year. I remember it being 7 or 8 mil. I just don't think he is worth the $ he's getting paid. Do you think he's going to stay? Are they going to ask him to take a pay cut again? I remember they did last year and he called their bluff.

[Dirtbag59]

Actually you cap geeks suck! Tell us are cap status is great and that we have infinite billon dollars of cap room.

In all seriousness that cap stuff looks like a pain in the ass to do, let alone comprehend. Either way great job on keeping us up to date on all this.

[GTripp0012]

Originally Posted by skinsfan69

You cap geeks do a GREAT JOB explaining this to dumb asses like me. Great post! My question is about Springs. He has a huge number this year. I remember it being 7 or 8 mil. I just don't think he is worth the $ he's getting paid. Do you think he's going to stay? Are they going to ask him to take a pay cut again? I remember they did last year and he called their bluff.

I do think Springs will stay, provided he survives the next 4 days. We need at least a month of his services in 2008.

Due to the restructuring of his contract in the past, we can only recover about 2.5 million of that 7 if we cut him. Though cutting him now makes a better situation for 2009, (when we would recover all of his current cap number), speaking purely about 2008, we don't save enough cap room by cutting him to sign a CB who can play at his level right away.

[CrazyCanuck]

Originally Posted by Schneed10

The numbers at the top of this thread have been updated.

Chris Samuels has received a two-year contract extension in which the team added base salaries of $8 million per year each in 2012 and 2013. In the deal, the Redskins converted $3.8 million of his 2008 base salary into a signing bonus.

This move reduced our cap figure this year by $3.2 million.

Agreed.

[Schneed10]

Originally Posted by skinsfan69

You cap geeks do a GREAT JOB explaining this to dumb asses like me. Great post! My question is about Springs. He has a huge number this year. I remember it being 7 or 8 mil. I just don't think he is worth the $ he's getting paid. Do you think he's going to stay? Are they going to ask him to take a pay cut again? I remember they did last year and he called their bluff.

We could cut or extend him, that would reduce his cap number. But in my opinion, the wisest move is to simply carry him with that high cap number this year. We need him with Rogers recovering, and he's still a good starting CB in this league (we had a top 10 defense with him as a starter all year).

We don't need his cap space. We can create $10.4 million in space by restructuring others. We should carry him at the high number this year rather than kicking more of his cap money into the future. Because if we carry him without restructuring this year, it makes it much easier to let him go next season when we can cut him and save $6.0 million from our 2009 cap number.

The Skins also might consider extending him a few years, but they should only do that if they really feel like he'll be a strong starter for at least two more seasons.

Like I said, I'd carry him this year, and then probably cut him next year when Smoot and Rogers can be the starters.

[skinsfan69]

Originally Posted by Schneed10

We could cut or extend him, that would reduce his cap number. But in my opinion, the wisest move is to simply carry him with that high cap number this year. We need him with Rogers recovering, and he's still a good starting CB in this league (we had a top 10 defense with him as a starter all year).

We don't need his cap space. We can create $10.4 million in space by restructuring others. We should carry him at the high number this year rather than kicking more of his cap money into the future. Because if we carry him without restructuring this year, it makes it much easier to let him go next season when we can cut him and save $6.0 million from our 2009 cap number.

The Skins also might consider extending him a few years, but they should only do that if they really feel like he'll be a strong starter for at least two more seasons.

Like I said, I'd carry him this year, and then probably cut him next year when Smoot and Rogers can be the starters.

I agree. We should just eat the salary this year cause we need him.. But damn that's a lot of coin. But I just don't think it's smart to restructure him at his age and with his history of injuries. I'd probably think 08 will be his last year with us.

[GoSkins!]

Geat work keeping up with this stuff guys. One of the big reasons I love the warpath and contribute yearly. I'll ask Matty to increase your pay (a percentage increase of course....).

[skinsfan_nn]

JLC blog:

Redskins Insider

Posted at 2:26 PM ET, 02/26/2008
Quick Update

Back from a mini vacation of sorts, or at least a day. Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.

Briefly, I expect the Skins to continue to pursue several trade options with the free agent market limited. I'll post on that later in the week. They have interest in several players who are being floated.

Also, heard from league sources that the Redskins have made major changes to their medical staff. Ray Thal, the longtime surgeon, is no longer with the club, and was not with the team at the combine, sources said. The Skins are looking for a new orthopedic specialist and were working as usual with James Andrews, who is on the sidelines at Skins games, to land a new local surgeon.

As I wrote about in a story outlining the offseason about 2-3 weeks ago, the Redskins will also make official soon the creation of a new segment of their medical team specifically for rehab, with a focus on the kind of muscle injuries that plagued them last season. They will make hires in that regard as well.

I'm on Washington Post Live on Comcast as well, from 5-6, so email in any questions.

Good to be back.
Cheers.

[CrazyCanuck]

Originally Posted by skinsfan_nn

Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.

For the record Schneed and I have us at $1.4M under, not $3M under.

I think JLC is quoting PC's cap sheets which are incorrect as far as we can tell.

[Schneed10]

Yeah, JLC uses PCinOZ as his "inside man" for Redskins salary cap information. He's got a real good setup on his site, but the math is off in a spot at the moment, and he's got a few salary/bonus figures that don't jive with the NFLPA.

The real number is closer to $1.4 million.

[GTripp0012]

Lloyd is released--so that pushes us back over the cap by 1.5 million.

Get Portis on the phone, we'll get back under.

[Dirtbag59]

Originally Posted by skinsfan_nn

JLC blog:

Redskins Insider

Posted at 2:26 PM ET, 02/26/2008
Quick Update

Back from a mini vacation of sorts, or at least a day. Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.


Good to be back.
Cheers.

Thank God he's back. No offense but whoever was filling in for JLC, wasn't getting anything. Zorn speaks about QB situation? Wasn't that covered about a month ago. While JLC was gone it was more like Redskins Outsider.

It got to the point where I was checking the Times, which when it comes to covering the Redskins, is light years behind JLC.

[BeastsoftheNFCeast]

Originally Posted by skinsfan_nn

JLC blog:

Redskins Insider

Posted at 2:26 PM ET, 02/26/2008
Quick Update

Back from a mini vacation of sorts, or at least a day. Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.

Briefly, I expect the Skins to continue to pursue several trade options with the free agent market limited. I'll post on that later in the week. They have interest in several players who are being floated.

Also, heard from league sources that the Redskins have made major changes to their medical staff. Ray Thal, the longtime surgeon, is no longer with the club, and was not with the team at the combine, sources said. The Skins are looking for a new orthopedic specialist and were working as usual with James Andrews, who is on the sidelines at Skins games, to land a new local surgeon.

As I wrote about in a story outlining the offseason about 2-3 weeks ago, the Redskins will also make official soon the creation of a new segment of their medical team specifically for rehab, with a focus on the kind of muscle injuries that plagued them last season. They will make hires in that regard as well.

I'm on Washington Post Live on Comcast as well, from 5-6, so email in any questions.

Good to be back.
Cheers.

A little off topic, but I would just like to brag that Ray Thal did my ACL reconstruction and Medial Meniscus repair when I tore them 2 years ago. Pre surgery I was flipping out with anxiety, then he gave me some oxycoddene, and I chilled out and all I cared about was him giving a good surgery to Randy Thomas (this was during the first gibbs playoff run). Im kinda sad that I cant say that the redskins surgen did my surgery anymore. He was a good guy.