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Analyzing Jairus "Byrdman" Byrd's Contract
Posted on 3/13/14 at 7:55 am
Posted on 3/13/14 at 7:55 am
Contract- 6 YR, $54 MIL W/ $11 MIL Signing Bonus, @ a guaranteed salary of $26.3 MIL
This contract is a very much back loaded deal that is good for both sides. Seems like Jarius really came to New Orleans looking to win and took less money on his base salary in the first couple of years and a large signing bonus. So, let's take a look at the year by year breakdown of this contract:
First and foremost his $11 MIL signing Bonus is broken down from years 2014-2018 at $2.2 MIL towards the cap each year. The contract is really good for the team in the first year as the Roster/Workout bonuses don't begin until 2015 therefore saving some room to pay Jimmy Graham. Make no mistake other players (Brees) will definitely have to restructure their contracts in order to pay returning FA's and draft picks.
2014
Base Salary- $1.3 MIL
Signing Bonus- $2.2 MIL
MISC- $0
Cap Hit- $3.5 MIL
Dead Money- $20.3 MIL
2015
Base Salary- $2.0 MIL
Signing Bonus- $2.2 MIL
MISC- $6.1 MIL
Cap Hit- $10.3 MIL
Dead Money- $16.8 MIL
2016
Base Salary- $7.4 MIL
Signing Bonus- $2.2 MIL
MISC- $100K
Cap Hit- $9.7MIL
Dead Money- $6.6 MIL
2017
Base Salary- $8.6 MIL
Signing Bonus- $2.2 MIL
MISC- $100K
Cap Hit- $10.9 MIL
Dead Money- $4.4 MIL
2018
Base Salary- $8.6 MIL
Signing Bonus- $2.2 MIL
MISC- $100K
Cap Hit- $10.9 MIL
Dead Money $2.2 MIL
2019
Base Salary- $8.6 MIL
Signing Bonus- $0
MISC- $100K
Cap Hit- $8.7 MIL
Dead Money- $0
20.3 MIL fully guaranteed (Signing Bonus + 2014-15 base + 2015 roster bonus)
2015 Roster Bonus: $6 MIL (guaranteed)
If, god forbid, Byrdman does not play up to his potential as a Saint, it looks like the first year they can really save some money by releasing him would be 2017, saving them $6.5 MIL of cap space.
Now there is always the option of restructuring his contract in future years which potentially takes his base salary of that year, and turns into a signing bonus. What this does is prorates the signing bonus, just like the $11 MIL he just received is prorated over the first 5 years as a $2.2 MIL cap hit. However, remember that when a player agrees to restructure, the new prorated amount of signing bonus is added to he existing number, (ex: Jarius restrucutres and turns his base salary of a future season to a signing bonus, the prorate would be added to the $2.2 MIL each of the following seasons)
Now, you start getting in June 1st designation cuts. Normally, if a player is cut and they have a signing bonus that was prorated over 1-5 years(that's the max), then the remaining prorated bonuses will automatically jump the present year, and that's where DEAD MONEY comes into play. With a June 1st cut, the remaining prorated amounts do not jump forward, instead they all combine to the cap number of the following year, effectively saving the team a year on a large cap hit.
Any questions?
This contract is a very much back loaded deal that is good for both sides. Seems like Jarius really came to New Orleans looking to win and took less money on his base salary in the first couple of years and a large signing bonus. So, let's take a look at the year by year breakdown of this contract:
First and foremost his $11 MIL signing Bonus is broken down from years 2014-2018 at $2.2 MIL towards the cap each year. The contract is really good for the team in the first year as the Roster/Workout bonuses don't begin until 2015 therefore saving some room to pay Jimmy Graham. Make no mistake other players (Brees) will definitely have to restructure their contracts in order to pay returning FA's and draft picks.
2014
Base Salary- $1.3 MIL
Signing Bonus- $2.2 MIL
MISC- $0
Cap Hit- $3.5 MIL
Dead Money- $20.3 MIL
2015
Base Salary- $2.0 MIL
Signing Bonus- $2.2 MIL
MISC- $6.1 MIL
Cap Hit- $10.3 MIL
Dead Money- $16.8 MIL
2016
Base Salary- $7.4 MIL
Signing Bonus- $2.2 MIL
MISC- $100K
Cap Hit- $9.7MIL
Dead Money- $6.6 MIL
2017
Base Salary- $8.6 MIL
Signing Bonus- $2.2 MIL
MISC- $100K
Cap Hit- $10.9 MIL
Dead Money- $4.4 MIL
2018
Base Salary- $8.6 MIL
Signing Bonus- $2.2 MIL
MISC- $100K
Cap Hit- $10.9 MIL
Dead Money $2.2 MIL
2019
Base Salary- $8.6 MIL
Signing Bonus- $0
MISC- $100K
Cap Hit- $8.7 MIL
Dead Money- $0
20.3 MIL fully guaranteed (Signing Bonus + 2014-15 base + 2015 roster bonus)
2015 Roster Bonus: $6 MIL (guaranteed)
If, god forbid, Byrdman does not play up to his potential as a Saint, it looks like the first year they can really save some money by releasing him would be 2017, saving them $6.5 MIL of cap space.
Now there is always the option of restructuring his contract in future years which potentially takes his base salary of that year, and turns into a signing bonus. What this does is prorates the signing bonus, just like the $11 MIL he just received is prorated over the first 5 years as a $2.2 MIL cap hit. However, remember that when a player agrees to restructure, the new prorated amount of signing bonus is added to he existing number, (ex: Jarius restrucutres and turns his base salary of a future season to a signing bonus, the prorate would be added to the $2.2 MIL each of the following seasons)
Now, you start getting in June 1st designation cuts. Normally, if a player is cut and they have a signing bonus that was prorated over 1-5 years(that's the max), then the remaining prorated bonuses will automatically jump the present year, and that's where DEAD MONEY comes into play. With a June 1st cut, the remaining prorated amounts do not jump forward, instead they all combine to the cap number of the following year, effectively saving the team a year on a large cap hit.
Any questions?
This post was edited on 3/13/14 at 12:11 pm
2
Posted on 3/13/14 at 8:06 am to Bduhon55
I did a thread on this last night and actually said the same thing about this being a 3 year contract with options to cut, restructure, or extend any point after that.
And technically speaking we could cut him before the third year and save money without a June 1st cut but it saves little and leaves $6.6m dead money.
His signing bonus being low is a huge benefit that allows the flexibility of the contract to work. Good job Loomis.
I do have to say it's not really back loaded after year 1. The roster bonus in year 2 puts it on par with the rest of it. But it not being heavily back loaded was likely a sticking point of the player. Give a little and take a little. We won on signing bonus.
And technically speaking we could cut him before the third year and save money without a June 1st cut but it saves little and leaves $6.6m dead money.
His signing bonus being low is a huge benefit that allows the flexibility of the contract to work. Good job Loomis.
I do have to say it's not really back loaded after year 1. The roster bonus in year 2 puts it on par with the rest of it. But it not being heavily back loaded was likely a sticking point of the player. Give a little and take a little. We won on signing bonus.
This post was edited on 3/13/14 at 8:09 am
Posted on 3/13/14 at 8:08 am to bonethug0108
quote:
His signing bonus being low is a huge benefit that allows the flexibility of the contract to work
Exactly.
Posted on 3/13/14 at 10:56 am to Bduhon55
another analysis HERE
$12.3 million of Byrd’s deal is fully guaranteed at signing, which consists of an $11 million signing bonus and $1.3 million 2014 base salary. Byrd’s $6 million third day of the 2015 league year roster bonus is guaranteed for skill and injury. His $2 million 2015 base salary is guaranteed for injury and $6 million of his $7.4 million 2016 base salary is also guaranteed for injury. The roster bonus becomes fully guaranteed on the tenth day of the 2014 league year (March 20). Byrd’s 2015 base salary becomes fully guaranteed on the third day of the 2015 league year. The $6 million in 2016 becomes fully guaranteed if Byrd is on New Orleans’ roster come the third day of the 2016 league year.
Byrd has unguaranteed $7.9 million, $8.4 million and $8.6 million base salaries in 2017, 2018 and 2019. These base salaries can each de-escalate by a maximum of $500,000 depending on Byrd’s Pro Bowl and All-NFL nominations from 2014 to 2016. $100,000 offseason workout bonuses are in Byrd’s 2015 through 2019 contract years. There are also per game active roster bonuses totaling $300,000 ($18,750 per game) in the last three years of the deal (2017-2019).
The per game roster bonuses aren’t the norm with Saints contracts. Nobody else on the team besides cornerback Keenan Lewis has them. Lewis’ per game roster bonuses also occur during the last three years of his deal, but at $250,000 ($15,625 per game).
Byrd has a $3.5 million 2014 salary cap number. His cap number increases to $10.3 million in 2015. It is the NFL’s highest 2015 safety cap number. Byrd’s cap number drops to $9.7 million in 2016. He has $10.5 million, $11 million and $9 million cap numbers in 2017, 2018 and 2019.
Byrd gets $27.9 million in the first three years of his deal. Goldson, who has the second richest veteran safety deal, is at $26 million after three years.
--------------------
Earl Thomas says thank you Jairus.
$12.3 million of Byrd’s deal is fully guaranteed at signing, which consists of an $11 million signing bonus and $1.3 million 2014 base salary. Byrd’s $6 million third day of the 2015 league year roster bonus is guaranteed for skill and injury. His $2 million 2015 base salary is guaranteed for injury and $6 million of his $7.4 million 2016 base salary is also guaranteed for injury. The roster bonus becomes fully guaranteed on the tenth day of the 2014 league year (March 20). Byrd’s 2015 base salary becomes fully guaranteed on the third day of the 2015 league year. The $6 million in 2016 becomes fully guaranteed if Byrd is on New Orleans’ roster come the third day of the 2016 league year.
Byrd has unguaranteed $7.9 million, $8.4 million and $8.6 million base salaries in 2017, 2018 and 2019. These base salaries can each de-escalate by a maximum of $500,000 depending on Byrd’s Pro Bowl and All-NFL nominations from 2014 to 2016. $100,000 offseason workout bonuses are in Byrd’s 2015 through 2019 contract years. There are also per game active roster bonuses totaling $300,000 ($18,750 per game) in the last three years of the deal (2017-2019).
The per game roster bonuses aren’t the norm with Saints contracts. Nobody else on the team besides cornerback Keenan Lewis has them. Lewis’ per game roster bonuses also occur during the last three years of his deal, but at $250,000 ($15,625 per game).
Byrd has a $3.5 million 2014 salary cap number. His cap number increases to $10.3 million in 2015. It is the NFL’s highest 2015 safety cap number. Byrd’s cap number drops to $9.7 million in 2016. He has $10.5 million, $11 million and $9 million cap numbers in 2017, 2018 and 2019.
Byrd gets $27.9 million in the first three years of his deal. Goldson, who has the second richest veteran safety deal, is at $26 million after three years.
--------------------
Earl Thomas says thank you Jairus.
Posted on 3/13/14 at 11:05 am to blueslover
The back end numbers are slightly different but still close to the other report.
I think the per game roster bonuses are to help prevent holdouts(aka Revis dollar sign eyes).
I think the per game roster bonuses are to help prevent holdouts(aka Revis dollar sign eyes).
This post was edited on 3/13/14 at 11:06 am
Posted on 3/13/14 at 11:27 am to Bduhon55
There is nothing back loaded about the contract at all. It structured pretty evenly which is a bit of a surprise. I would have expected more salary in the last 2 years.
Posted on 3/13/14 at 11:28 am to NOSHAU
The first year is, but yes after that it is not.
And I believe the non back loading was probably the player's wish. Organizationally it makes sense to back load.
And I believe the non back loading was probably the player's wish. Organizationally it makes sense to back load.
Posted on 3/13/14 at 11:58 am to bonethug0108
Contracts in the NFL are categorized by their base salary on a year to year basis and the up front bonus. If you look at this contract, the first two years are low in base salary and he received a nice sized signing bonus...therefore it is technically a "backloaded" contract but I can see where someone would say it is an even contract in some regards.
Posted on 3/13/14 at 12:06 pm to Bduhon55
JAIRUS
Posted on 3/13/14 at 12:10 pm to Bduhon55
True enough but I was just talking pure cap hits. It's most definitely back loaded in the first year.
Edit:
I thought it was Jarius too.
Jai rus. Got it. Took me a while to Vaccaro instead of Vacarro.
Edit:
I thought it was Jarius too.
Jai rus. Got it. Took me a while to Vaccaro instead of Vacarro.
This post was edited on 3/13/14 at 12:11 pm
Posted on 3/13/14 at 1:28 pm to bonethug0108
Per PFT
quote:
PFT has obtained the full details of the agreement, which shows how G.M. Mickey Loomis pulled it off.
The Saints combined an $11 million signing bonus with a fully-guaranteed (as of March 21, 2014) 2015 roster bonus of $6 million. Coupled with a fully-guaranteed base salary of $1.3 million for 2014, Byrd gets $18.3 million fully guaranteed at signing.
In 2015, Byrd will earn a base salary of $2 million. It’s guaranteed for injury only until March 2015, at which time it becomes fully guaranteed. Also, $6 million of his $7.4 million base salary for 2016 is guaranteed for injury only at signing; it becomes fully guaranteed in March 2016.
The base salaries for the final three years of the deal are $7.9 million in 2017, $8.4 million in 2018, and $8.6 million in 2019. He can earn $300,000 in each of those seasons via per-game roster bonuses.
Posted on 3/13/14 at 1:35 pm to tduecen
Yet another slightly differing account of his final year base salaries.
Posted on 3/13/14 at 1:57 pm to tduecen
I think it might be a pretty smart set up that some don't recognize. The $6 million roster bonus in 2015 can likely be converted into a signing bonus next season, and basically cut the cap hit in 2015 by $4.8 million.
That is the benefit of the 6th year. So he could effectively have a cap hit of $5.5 million in 2015 thus backloading it and this requires nothing on the players part to lose. It's a way of basically giving him a $17 million dollar signing bonus but spreading it over 6 years instead of 5. Pretty smart actually.
If the Saints end up not needing to shift it into a signing bonus to create space next season, they could just let it ride and keep the extra $1.2 million/year of the remaining years' cap hits.
That is the benefit of the 6th year. So he could effectively have a cap hit of $5.5 million in 2015 thus backloading it and this requires nothing on the players part to lose. It's a way of basically giving him a $17 million dollar signing bonus but spreading it over 6 years instead of 5. Pretty smart actually.
If the Saints end up not needing to shift it into a signing bonus to create space next season, they could just let it ride and keep the extra $1.2 million/year of the remaining years' cap hits.
Posted on 3/13/14 at 1:58 pm to bonethug0108
quote:
I thought it was Jarius too.
Jai rus. Got it. Took me a while to Vaccaro instead of Vacarro.
at least ya got it. There's still a weekly Peyton or Meechum around here
Posted on 3/13/14 at 2:03 pm to blueslover
I've been walking around for two days calling him JA-RIUS and I thought I was a true fan...... 
Posted on 3/13/14 at 4:00 pm to Bduhon55
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