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re: Saints and Drew agree to deal 2 yr worth 50 million
Posted on 3/15/18 at 11:21 pm to bonethug0108
Posted on 3/15/18 at 11:21 pm to bonethug0108
So I went and looked at his contract and the signing bonus reported was incorrect.
$10.5 is what his signing bonus comes out to each year, so that's $6 mil for the original contract and another $4.5 mil for the extension each year.
So his actual signing bonus on the new contract was $13.5 mil ($4.5 mil x 3). His base this year ($10.2 mil), the signing bonus, and this year's roster bonus ($3.3 mil) make up his guarantees.
His base and roster bonus in 2019 are not guaranteed, meaning as a June 1st cut in 2019 (not that I see him getting cut) he'd save $23 mil, but leave $10.5 mil dead money in 2019 and 2020. He saves $12.5 mil if cut before June 1st in 2019, with $21 mil in dead money that year but be off the books completely after that.
That all just means that this is truly a one year deal if we want, but if we decide to keep him it becomes a two year deal. It isn't an actual team option in the literal sense (in that we have to exercise it), just an option (like with any player) if we want to pay him an additional $23 mil to play next year or part ways and save that.
The roster bonus this year they can choose to convert to save money. It's $3.3 mil, so we can create $2.2 mil in space if we convert it (adding $1.1 mil to 2019 and 2020). This may be being saved for the draft picks as that's about the amount they'd cost.
Next year's roster bonus is $11.95 mil, and saves roughly $6 mil if converted (adding $6 mil to 2020).
In the end if we convert both bonuses and keep him both years he'd be on the cap for $21.8 mil this year, $28.625 mil next year, and $17.575 mil in 2020 (all dead money in 2020 unless we extend him again).
Honestly that's not a bad chunk at the end considering how long we've been trying to kick the can with him. If the cap is $200 mil in 2020 it represents less than 10% of it. We currently have an estimated $122 mil in space in 2020 (not counting a few of these new deals). If we can find the next QB on a rookie contract by then we'd be golden.
$10.5 is what his signing bonus comes out to each year, so that's $6 mil for the original contract and another $4.5 mil for the extension each year.
So his actual signing bonus on the new contract was $13.5 mil ($4.5 mil x 3). His base this year ($10.2 mil), the signing bonus, and this year's roster bonus ($3.3 mil) make up his guarantees.
His base and roster bonus in 2019 are not guaranteed, meaning as a June 1st cut in 2019 (not that I see him getting cut) he'd save $23 mil, but leave $10.5 mil dead money in 2019 and 2020. He saves $12.5 mil if cut before June 1st in 2019, with $21 mil in dead money that year but be off the books completely after that.
That all just means that this is truly a one year deal if we want, but if we decide to keep him it becomes a two year deal. It isn't an actual team option in the literal sense (in that we have to exercise it), just an option (like with any player) if we want to pay him an additional $23 mil to play next year or part ways and save that.
The roster bonus this year they can choose to convert to save money. It's $3.3 mil, so we can create $2.2 mil in space if we convert it (adding $1.1 mil to 2019 and 2020). This may be being saved for the draft picks as that's about the amount they'd cost.
Next year's roster bonus is $11.95 mil, and saves roughly $6 mil if converted (adding $6 mil to 2020).
In the end if we convert both bonuses and keep him both years he'd be on the cap for $21.8 mil this year, $28.625 mil next year, and $17.575 mil in 2020 (all dead money in 2020 unless we extend him again).
Honestly that's not a bad chunk at the end considering how long we've been trying to kick the can with him. If the cap is $200 mil in 2020 it represents less than 10% of it. We currently have an estimated $122 mil in space in 2020 (not counting a few of these new deals). If we can find the next QB on a rookie contract by then we'd be golden.
This post was edited on 3/15/18 at 11:25 pm
1
Posted on 3/16/18 at 12:11 am to bonethug0108
What are your suggestions for making the Suh contract fit in, seeing he will probably want 15ish
Posted on 3/16/18 at 12:14 am to CocoLoco
Actually JUST posted a thread on that. Needless to say there are MANY ways to get that done. From roster bonus conversion, base salary conversions, cuts, extensions, etc.
We can easily make the room. It's about who we see here long term (any move you make entrenches that player more into the cap) and how much we want to stress future years. Or who are we ready to move on from. A few good cut candidates on the board (Hill saving $2 mil and/or Hooman saving $1.6 mil really jumps out).
Edit:
Jordan ($5.7 mil) and Warford ($4.1 mil) stand out the most as guys who will definitely be here long term and can save a good bit. That's $9.8 mil right there, which would be more than enough for Suh's first year cap hit.
We can easily make the room. It's about who we see here long term (any move you make entrenches that player more into the cap) and how much we want to stress future years. Or who are we ready to move on from. A few good cut candidates on the board (Hill saving $2 mil and/or Hooman saving $1.6 mil really jumps out).
Edit:
Jordan ($5.7 mil) and Warford ($4.1 mil) stand out the most as guys who will definitely be here long term and can save a good bit. That's $9.8 mil right there, which would be more than enough for Suh's first year cap hit.
This post was edited on 3/16/18 at 12:27 am
Posted on 3/16/18 at 7:27 am to bonethug0108
I keep reading about cutting Hill and/or Hooman for a few mil. Won’t that leave us dangerously thin at TE, and won’t we have to spend at least as much for replacement(s)?
Posted on 3/16/18 at 7:33 am to JescoWhite
We’ll likely draft one at some point
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