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Cap Heaven? - Cuts and Drew Brees Extension
Posted on 1/7/15 at 10:21 pm
Posted on 1/7/15 at 10:21 pm
Like Loomis said, we actually have more flexibility this year than last year when we signed Byrd, especially with the salary cap continuing to steadily rise. I think we're fortunate going forward that some our highest potential saving candidates are also greatly under-performing. We could legitimately upgrade for cheap while saving millions for needs/toys.
Currently sit at ~(-$22 million) in cap space going into the offseason.
Restructure (saves ~$18.08):
Junior - Saves $7.75 million for 2015
---Assuming the charges are dropped, we're 100% going to restructure his contract by turning his roster bonus due this year into a signing bonus.
Graham - saves $3.33 million -$5,000,000 million roster bonus in 2015 spreading it out over the remaining 3 years. Would drop his cap hit in 2015 from $11 to $7.67 million.
Byrd - saves $4 million - Convert his $6 million roster bonus to a signing bonus spread out over the remaining 5 years of his contract. Lowers his 2015 hit from $10.3 to $6.3 million.
Lofton - Saves $3 million - $4.5 million roster bonus converted to signing bonus and prorated over the remaining 3 years. Brings his cap total from $9 million to $6 million
Cap Space Going into Cuts = -$3.92 million (easily covered by a Drew Brees extension IMO). From my understanding, there is really little reason not to restructure these contracts if they will be on the team in 2015. I believe any extra cap space gets rolled over to the next year.
Potential Cuts/Dead Money in millions:
Evans - save $7.5 million / $3.5 dead
Grubbs - save $6.6 / $3
Colston - save $7 / $2.7 - would also be a good candidate to restructure.
Bunkley - save $4.5 / $1.6
Hawthorne - save $4.5 / $1.5
Bush - save $1.95 / 0 dead money - Good player, but we are loaded at safety. Money could be better spent.
Watson - save $1.5 / $400k (probably not worth it, but interesting with the emergence of Hill)
*Morstead - save $2.45 / $950k - We won't do it this year, but he won't see the end of this contract in the current state. He's an outstanding punter, but we punt the least amount of times in the NFL and rarely go 3 and out. I honestly believe the $1.5-$2 million in savings could be better spent elsewhere with a greater impact on field position. His cap hit goes to $4.45 million in 2016 and is signed through 2018.
The total savings = $36 million. Dead money (sunk cost) = $13.65
So even before touching Brees, we could have the cap space to sign multiple free agents and cut some obvious fat.
-----
Brees - An extension has been obvious since the original structure of his contract was released. He was never meant to play at a cap hit of $28.7 million in 2015. You extend him 2-3 years for near his current rate or less by offering a higher % of guaranteed money via signing bonus. I won't include this in my calculations though.
Does anyone have a list of likely 2015 free agents?
Currently sit at ~(-$22 million) in cap space going into the offseason.
Restructure (saves ~$18.08):
Junior - Saves $7.75 million for 2015
---Assuming the charges are dropped, we're 100% going to restructure his contract by turning his roster bonus due this year into a signing bonus.
Graham - saves $3.33 million -$5,000,000 million roster bonus in 2015 spreading it out over the remaining 3 years. Would drop his cap hit in 2015 from $11 to $7.67 million.
Byrd - saves $4 million - Convert his $6 million roster bonus to a signing bonus spread out over the remaining 5 years of his contract. Lowers his 2015 hit from $10.3 to $6.3 million.
Lofton - Saves $3 million - $4.5 million roster bonus converted to signing bonus and prorated over the remaining 3 years. Brings his cap total from $9 million to $6 million
Cap Space Going into Cuts = -$3.92 million (easily covered by a Drew Brees extension IMO). From my understanding, there is really little reason not to restructure these contracts if they will be on the team in 2015. I believe any extra cap space gets rolled over to the next year.
Potential Cuts/Dead Money in millions:
Evans - save $7.5 million / $3.5 dead
Grubbs - save $6.6 / $3
Colston - save $7 / $2.7 - would also be a good candidate to restructure.
Bunkley - save $4.5 / $1.6
Hawthorne - save $4.5 / $1.5
Bush - save $1.95 / 0 dead money - Good player, but we are loaded at safety. Money could be better spent.
Watson - save $1.5 / $400k (probably not worth it, but interesting with the emergence of Hill)
*Morstead - save $2.45 / $950k - We won't do it this year, but he won't see the end of this contract in the current state. He's an outstanding punter, but we punt the least amount of times in the NFL and rarely go 3 and out. I honestly believe the $1.5-$2 million in savings could be better spent elsewhere with a greater impact on field position. His cap hit goes to $4.45 million in 2016 and is signed through 2018.
The total savings = $36 million. Dead money (sunk cost) = $13.65
So even before touching Brees, we could have the cap space to sign multiple free agents and cut some obvious fat.
-----
Brees - An extension has been obvious since the original structure of his contract was released. He was never meant to play at a cap hit of $28.7 million in 2015. You extend him 2-3 years for near his current rate or less by offering a higher % of guaranteed money via signing bonus. I won't include this in my calculations though.
Does anyone have a list of likely 2015 free agents?
This post was edited on 1/7/15 at 11:53 pm
Posted on 1/7/15 at 10:23 pm to TigerBait1127
Lemme text Loomis the link to this thread.
Posted on 1/7/15 at 10:30 pm to TigerBait1127
Evans GONE
Grubbs GONE
at least they better be. I want some fresh blood.
I like Colston's locker room presence. Despite his drops I would like to see a restructure here.
Bunkley seemed to be a solid run stuffer on 1st/2nd down, up in the air
Hawthorne GONE
Bush - I thought I liked him but man our secondary was so bad I'm not sure anymore.
Watson GONE. Hill is already better IMO.
Morestead we keep
Grubbs GONE
at least they better be. I want some fresh blood.
I like Colston's locker room presence. Despite his drops I would like to see a restructure here.
Bunkley seemed to be a solid run stuffer on 1st/2nd down, up in the air
Hawthorne GONE
Bush - I thought I liked him but man our secondary was so bad I'm not sure anymore.
Watson GONE. Hill is already better IMO.
Morestead we keep
Posted on 1/7/15 at 10:30 pm to TigerBait1127
Nothing will be certain until after the SB as far as FA, who will be tagged, re-signed and such.
As much as I want Justin Houston I have a feeling he will be tagged: but Vereen and Iuapti will be there. Give me those two and lets go D in the draft
As much as I want Justin Houston I have a feeling he will be tagged: but Vereen and Iuapti will be there. Give me those two and lets go D in the draft
Posted on 1/7/15 at 10:54 pm to LSUzealot
quote:
Evans GONE
Grubbs GONE
at least they better be. I want some fresh blood.
I wouldn't get your hopes up. One, maybe. Probably. I would guess Evans. But I doubt they wanna bring in 3 out of 5 new guys on the OL. Need SOME continuity.
Posted on 1/7/15 at 10:59 pm to Rand AlThor
quote:
I wouldn't get your hopes up. One, maybe. Probably. I would guess Evans. But I doubt they wanna bring in 3 out of 5 new guys on the OL. Need SOME continuity.
I think Lelito gets the starting nod next year at C and we add a G/T in the 1st or 2nd to take over for 1 of the guards. I also think we'll try and find another Guard or Center for depth, competition, etc in FA or the draft.
I'd rather try to restructure Evans and cut Grubbs even though Grubbs had a better year. There's still some hope that Evans can rebound to at least a respectable shell of his 2006-2012/2013 self.
Obviously, Grubbs is the better choice to keep at the current price.
Posted on 1/7/15 at 11:15 pm to TigerBait1127
quote:
I think Lelito gets the starting nod next year
What makes you think this when he couldn't even start over an injured Goodwin? Believe me, I want anyone other than Goodwin starting at C for us. Would love for Lelito to get his start, but him not playing over an injured Goodwin tells me the FO and coaches have no faith in him to start next season. I think we draft a C and that draftee starts for us.
Posted on 1/7/15 at 11:17 pm to TigerBait1127
Posted on 1/7/15 at 11:39 pm to htran90
quote:
restructure byrd and graham as well.
Good call, added to OP
quote:
bone and I have done this lol, we have no lives..
Took a vyvanse too late and them my wife went to bed early. Bad combination for Saints Talk
Posted on 1/7/15 at 11:50 pm to TigerBait1127
quote:
restructure byrd and graham as well.
Curtis Lofton is another potential candidate if needed with a $4.5 million roster bonus and 3 years remaining.
Would save $3 million
Posted on 1/7/15 at 11:59 pm to TigerBait1127
yeah, lofton is another one, but half of me thinks we go the extension route on him to be completely honest.
Posted on 1/8/15 at 12:03 am to LSUzealot
quote:
Evans GONE
Grubbs GONE
at least they better be. I want some fresh blood.
I like Colston's locker room presence. Despite his drops I would like to see a restructure here.
Bunkley seemed to be a solid run stuffer on 1st/2nd down, up in the air
Hawthorne GONE
Bush - I thought I liked him but man our secondary was so bad I'm not sure anymore.
Watson GONE. Hill is already better IMO.
Morestead we keep
By the fourth or fifth game if the D looks like last years Mr. Ryan will be gone.
Posted on 1/8/15 at 12:16 am to Geaux8686
quote:
By the fourth or fifth game if the D looks like last years Mr. Ryan will be gone.
We wouldn't fire him midseason, and I'm not sure how it is relevant.
Posted on 1/8/15 at 12:25 am to TigerBait1127
If the D stinks and is losing us games, you can bet he'll be gone. Remember he's a 2 year and out kind of guy.
This post was edited on 1/8/15 at 12:29 am
Posted on 1/8/15 at 12:36 am to Geaux8686
quote:
If the D stinks and is losing us games, you can bet he'll be gone.
Shown by Sean Payton's history of firing coaches in the middle of the season.
quote:
Remember he's a 2 year and out kind of guy.
Well except for 50% of his defensive coordinating jobs now. He was with Oakland for several seasons, left Cleveland after 2 years b/c the head coach was fired, and left Dallas after 2 year and a trigger happy owner. They followed his departure with the worst defense in the NFL (maybe NFL history?)
Anyways, how is any of this relevant to our cap situation? Are you under the impression that he counts towards it?
This post was edited on 1/8/15 at 12:39 am
Posted on 1/8/15 at 2:34 am to TigerBait1127
quote:
Are you under the impression that he counts towards it?
C'mon man.
Posted on 1/8/15 at 4:23 am to LSUzealot
We gotta keep Raphael or sign Reggie - my Dog's 25 Bush jersey wasn't cheap
Posted on 1/8/15 at 8:00 am to TigerBait1127
Good stuff but your math is wrong on a lot of guys. I'll have to find the salary cap calculator link for you.
Galette saves $10 mil and Morstead only $1 mil or something like that, for instance.
Edit:
Cap Calculator.
Morstead saves 1.25, Grubbs 3.6, Byrd 4.8 (bonus restructure), Colston 4.3, etc. So a lot of your numbers are way too high.
Galette saves $10 mil and Morstead only $1 mil or something like that, for instance.
Edit:
Cap Calculator.
Morstead saves 1.25, Grubbs 3.6, Byrd 4.8 (bonus restructure), Colston 4.3, etc. So a lot of your numbers are way too high.
This post was edited on 1/8/15 at 8:07 am
Posted on 1/8/15 at 8:16 am to bonethug0108
quote:
Morstead saves 1.25, Grubbs 3.6, Byrd 4.8 (bonus restructure), Colston 4.3, etc. So a lot of your numbers are way too high.
I designated them as post June 1st cuts. I should have been more upfront about that, as I don't expect us to release many of the players. I believe you can only have 2 post June cuts though, right?
That doesn't apply to bush and watson though. I'm expecting us to only let 1 guard go too.
This post was edited on 1/8/15 at 8:19 am
Posted on 1/8/15 at 8:19 am to TigerBait1127
Good work. I wish I remember who, but someone else did a pretty detailed look into the salary cap for next on here last week or so. Sean Fazende also did a pretty good article on the subject. My only two comments are-
1. I don't think we cut both Grubbs and Evans.
2. Bush is worth keeping at his salary.
The good part is, there are ways to get under the cap with money to spend without doing too much damage. And our only FA worth losing sleep about is Mark Ingram. If we can hit on a G/C, #2 CB, ILB, OLB between FA and the first few rounds of the draft, then we should be playing this time next year. I know it's easier said than done, but it's definitely possible.
1. I don't think we cut both Grubbs and Evans.
2. Bush is worth keeping at his salary.
The good part is, there are ways to get under the cap with money to spend without doing too much damage. And our only FA worth losing sleep about is Mark Ingram. If we can hit on a G/C, #2 CB, ILB, OLB between FA and the first few rounds of the draft, then we should be playing this time next year. I know it's easier said than done, but it's definitely possible.
This post was edited on 1/8/15 at 8:23 am
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