Redskins Salary Cap Status - 2020

[Schneed10]

Given the housecleaning the Redskins have undergone in the football operations and head coaching areas, I’m getting started with this thread earlier this year. This looks at the Redskins salary cap status for 2020. This references OverTheCap’s terrific salary cap data. This year the Redskins find themselves with plenty of available cap space which will go a long way towards molding the team to Ron Rivera’s image. This thread is equal parts a summary of where the cap stands today, and a list of the moves the team is likely to make to manage their cap flexibility.

As the team makes moves throughout the offseason I'll try to keep this updated to reflect the actual impact on the cap. Last updated February 20, 2020 at 5:00pm.

Redskins Cap Space Entering 2019: $35.4M

Moves Made
Extended P Tress Way $0M (goes into effect 2021)
Released CB Josh Norman $12.4M
Released WR Paul Richardson $2.5M
Released TE Jordan Reed $8.5M
Franchise Tagged G Brandon Scherff ($14.8M)
Two Players Added Back to Top 51 ($1.2M)

Redskins Cap Space Current Estimate $42.8M

Moves Expected
Trade OT Trent Williams $12.5M
One Player Added Back to Top 51 ($0.6M)

Expected Redskins Cap Space after Moves $54.7M

Roster Needs:
Backup QB (2?)
G
WR
TE (2)
CB
LB
S

[BaltimoreSkins]

I am assuming those roster needs are based on the glaring and obvious and not just areas where we could upgrade/improve?

[Schneed10]

Originally Posted by BaltimoreSkins

I am assuming those roster needs are based on the glaring and obvious and not just areas where we could upgrade/improve?

Right, exactly. I identified the areas where the holes are glaring.

[EdmundDorf]

Great summary..... no thoughts on Kerrigans status?

[EdmundDorf]

Re Alex Smith, if his salary is part of the gaurantee then doesn't that leave our cap if he is traded so we would only be hit by the bonus he has received so far.... apologies if I have misunderstood your post, genuine question just trying to understand the mechanics of the salary cap

[Schneed10]

Originally Posted by EdmundDorf

Re Alex Smith, if his salary is part of the gaurantee then doesn't that leave our cap if he is traded so we would only be hit by the bonus he has received so far.... apologies if I have misunderstood your post, genuine question just trying to understand the mechanics of the salary cap

Yeah if you can get a team to take on $16M in salary for Alex, then yes you're right, that guaranteed portion of the salary would be borne by the new team, not by us.

But for all practical purposes, who would ever pay $16M for one season of Alex Smith at this point, given what he's trying to come back from? Too many questions about his mobility. Teams might take him on with an incentive laden deal structure, but nobody's paying $16M guaranteed. So I see us as stuck with him.

[Schneed10]

Originally Posted by EdmundDorf

Great summary..... no thoughts on Kerrigans status?

If you release or trade him it would create an additional $11.7M in cap space. I personally wouldn't, so I didn't list it. He's still too valuable a player and even with Chase Young I'd want as much strong depth along the new 4-3 DL as I can get.

But if you want to play armchair GM, getting rid of him would mean $11.7M more in cap space.

[Schneed10]

A note on the Alex Smith situation since it has such a large impact on our salary cap.

Alex Smith is currently under contract for three more years. His $16M salary this year is guaranteed, and we still have yet to recognize $16.2M of his signing bonus on our cap. This means that if we cut him or trade him before June 1 of this year, it will actually hurt our cap and reduce our available cap space by ($10.8M).

If cut him with a post-June 1 designation, or trade him after June 1, then we save no money against the cap this season, our cap will be entirely unchanged. Because with that $16M salary guaranteed, we'd carry another $5.4M of the prorated bonus in 2020, putting his cap number right back at $21.4M in 2020, where it would be if he were still on the roster. But in 2021 he'd come off the cap and we'd save $13.6M.

The same thing would happen in 2021 if we kept him through this season, and then cut him prior to June 1 of 2021. Our cap space in 2021 would go up $13.6M, the same impact as if we let him go after June 1 of this year.

Due to all this, I'm calling it likely that he remains a Redskin through this season and serves as the backup to Dwayne Haskins. He'll likely continue serving as a mentor while he works his way back - and collects a paycheck.

Despite the likelihood that he sticks with us in 2020, we'll still have the available cap space I list in my original post above, and the Redskins will likely plan for 2021 to say goodbye to Alex, and plan their free agency this year to account for the fact that 2021 will have $13.6M more in cap space than it would with Alex on the roster.

In that sense, it would be wise to push some chips into the table in free agency this year. If Haskins continues to progress, the Redskins have two years to take advantage of the rookie contract window (2021 and 2022). In 2023 they'll either need to execute the 5th year option on Haskins or extend him long term.

[FrenchSkin]

Originally Posted by Schneed10

A note on the Alex Smith situation since it has such a large impact on our salary cap.

Alex Smith is currently under contract for three more years. His $16M salary this year is guaranteed, and we still have yet to recognize $16.2M of his signing bonus on our cap. This means that if we cut him or trade him before June 1 of this year, it will actually hurt our cap and reduce our available cap space by ($10.8M).

If cut him with a post-June 1 designation, or trade him after June 1, then we save no money against the cap this season, our cap will be entirely unchanged. Because with that $16M salary guaranteed, we'd carry another $5.4M of the prorated bonus in 2020, putting his cap number right back at $21.4M in 2020, where it would be if he were still on the roster. But in 2021 he'd come off the cap and we'd save $13.6M.

The same thing would happen in 2021 if we kept him through this season, and then cut him prior to June 1 of 2021. Our cap space in 2021 would go up $13.6M, the same impact as if we let him go after June 1 of this year.

Due to all this, I'm calling it likely that he remains a Redskin through this season and serves as the backup to Dwayne Haskins. He'll likely continue serving as a mentor while he works his way back - and collects a paycheck.

Despite the likelihood that he sticks with us in 2020, we'll still have the available cap space I list in my original post above, and the Redskins will likely plan for 2021 to say goodbye to Alex, and plan their free agency this year to account for the fact that 2021 will have $13.6M more in cap space than it would with Alex on the roster.

In that sense, it would be wise to push some chips into the table in free agency this year. If Haskins continues to progress, the Redskins have two years to take advantage of the rookie contract window (2021 and 2022). In 2023 they'll either need to execute the 5th year option on Haskins or extend him long term.

I saw here and there rumors that the Bears could be interested in trading for Alex Smith.
Not that there any truth to it for now, but theoretically speaking, wouldn't that be a great option for us ?
Even for a 6th rounder I'd take it, saving 20M+ for the next 3 years is a great thing to do. Allowing our new coach to have a chance of bringing TW back as it seems he wants to (I have no opinion on what's best here), maybe extending Scherff instead of tagging him, and making some significant signings in FA really would help turn this team around.

[CRedskinsRule]

Originally Posted by FrenchSkin

I saw here and there rumors that the Bears could be interested in trading for Alex Smith.

Not that there any truth to it for now, but theoretically speaking, wouldn't that be a great option for us ?

Even for a 6th rounder I'd take it, saving 20M+ for the next 3 years is a great thing to do. Allowing our new coach to have a chance of bringing TW back as it seems he wants to (I have no opinion on what's best here), maybe extending Scherff instead of tagging him, and making some significant signings in FA really would help turn this team around.

I would be amazed if Snyder traded his new BFF

Sent from my SM-G973U using Tapatalk

[FrenchSkin]

Originally Posted by CRedskinsRule

I would be amazed if Snyder traded his new BFF

Sent from my SM-G973U using Tapatalk

Good point... And dhat actually would be a good indication of wether or not Dan truly understood that he has to stay out of it.
If Ron Rivera decides to trade AS and is allowed to, that'd be an awesome sign.

[mooby]

Originally Posted by FrenchSkin

Good point... And dhat actually would be a good indication of wether or not Dan truly understood that he has to stay out of it.
If Ron Rivera decides to trade AS and is allowed to, that'd be an awesome sign.

If someone offered anything for Alex, even a 7th rounder, I would take it in a heartbeat just to get his contract off the books.

You are right, it would be a serious test for Dan about whether to interfere with the team because it looks like Alex is resigned to another season of hanging out with Snyder watching the games, when he's not helping Haskins on the practice field.

Ron would have to convince Dan he can always hang out with Alex once Alex retires from his new team after next year. I think best case scenario is Alex hopes to be active someday as a backup qb, there is no team that would risk bringing him in as a starter.

[BigHairedAristocrat]

Regarding Smith, i recall Sheehan saying that took out an insurance policy on him and, if its determined his injury is career-ending, the insurance policy would pay out, including a salary cap credit somewhere around $12M.

Its possible Smith really does have every intention to try and play again. Its also possible he and his family have decided that given his age and current contract, for his long-term health, the best thing is for him to never play again. However, in order for the team to collect the insurance policy, he needs to make it look like he tried his hardest, but ultimately was not medically cleared.

I'm not saying this is what is happening now, but throwing it out there as a possibility. So there is a scenario where, in 2020 or 2021, we could get that credit and have an additional 12M or so in cap space.

[Schneed10]

Originally Posted by BigHairedAristocrat

Regarding Smith, i recall Sheehan saying that took out an insurance policy on him and, if its determined his injury is career-ending, the insurance policy would pay out, including a salary cap credit somewhere around $12M.

Its possible Smith really does have every intention to try and play again. Its also possible he and his family have decided that given his age and current contract, for his long-term health, the best thing is for him to never play again. However, in order for the team to collect the insurance policy, he needs to make it look like he tried his hardest, but ultimately was not medically cleared.

I'm not saying this is what is happening now, but throwing it out there as a possibility. So there is a scenario where, in 2020 or 2021, we could get that credit and have an additional 12M or so in cap space.

Absolutely correct. But from a planning perspective the team has to assume it will carry the entire cap charge until it's determined they can collect on this policy.

[BigHairedAristocrat]

Originally Posted by Schneed10

Absolutely correct. But from a planning perspective the team has to assume it will carry the entire cap charge until it's determined they can collect on this policy.

Agree. Always appreciate your breakdown on the cap stuff. I just wanted to mention this because we could REALLY have a lot if we dump certain contracts, don't tag Scherff, and get the 12M credit if Smith is forced to retire. i cant remember where, but I saw a breakdown that had us at between 90 and 100M under the cap and none of the moves seemed crazy.

It would be really nice to see us keep 20-30M in cap space to roll over to next year, when we should have a lot of 3rd year players on rookie deals who we could extend.