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what a magical way to end the year
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Dec 31, 2017 22:09
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| # ¿ May 14, 2024 05:33 |
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AAAAA! Real Muenster posted:Isnt Brees already making almost $25mil a year as it is? It looks like he has a contract that has fake years and a massive cap hit if he's not given a new contract in 2018. So he can get a lot more money from the Saints than anyone else because they'd have a $18m cap hit if they let him walk. He's on what is, in reality, a short-term contract (probably because the saints have been in cap hell for forever) but is on paper a long-term contract with a large signing bonus that is actually for two years spread over five. edit: it's a two-year $25m per year contract, but $18m of the cap hit was deferred into fake years. The Saints have to re-sign him in 2018 or eat the cap hit. evilweasel fucked around with this message at 16:31 on Jan 2, 2018 |
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Jan 2, 2018 16:26
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AAAAA! Real Muenster posted:This got me curious so I checked OverTheCap dot com, and yeah: What's not clear from the OverTheCap description is if Brees can void it, both sides can void it, or it automatically voids. Based on the structure I think there's no way it's a team option cause no way in hell was Brees willing to play for the $6m a year it calls for in the three voided years: its definitely going to void somehow if not extended. Both sites are a little fuzzy on the exact contract mechanic there though.
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Jan 2, 2018 16:52
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a patagonian cavy posted:that $6m a year is just the prorated signing bonus. it accelerates if he gets cut Gotcha, so those years are definitely automatically voided. Dunno why that's a contract type that exists, but I guess it does!
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Jan 2, 2018 17:18
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a patagonian cavy posted:they're just going to kick the can further down the road and sign Brees to a contract that gives him $25m or so in the 2018 season. Right, I understood that whole part - it is a two year contract masquerading as a five year contract to spread the signing bonus over fake years. It's just the exact contractual mechanics of ensuring those three years are completely fake I do not understand: if the years are automatically voided (and how on earth that's allowed under the salary cap) or if it's just that Brees is given the option to void them but it's understood he would void them no matter what because he would literally be playing for free if he didn't. Since I don't think he is allowed to literally play for free, that means that the contract must automatically void rather than merely being optionally voidable.
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Jan 2, 2018 17:24
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a patagonian cavy posted:It's completely because of how signing bonuses are treated under the cap- The bonus has been prorated to be spread across the 5 years after signing and accelerates to the current year if (for whatever reason) the player is no longer on the team. It's in the spotrac notes that Drew's contract auto-voids (because he will be a free agent, and thus no longer on the team) at the end of the league year. Because of that, if the Saints don't re-sign him, the remaining bonus cap hit all accelerates to hit in the 2018 league year. yes, you keep explaining things i already know, thank you for explaining the thing i said in my original post on the subject and several times since then. spreading signing bonuses out is common, what is interesting to me is that you can have a contract with years that aren't just that everyone knows they're fake, that are, according to the language of the contract itself, completely fake, will never happen, and yet the salary cap still allows you to spread it over those years. that auto-voiding language sounds interesting and is what i am interested in, not that signing bonuses can be prorated.
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Jan 2, 2018 18:09
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Gatts posted:Throw all 118 million at him. Make him say no. Tie him up to a chair in an abandoned warehouse and start pressing 100 million on his face and tell him to cry “I submit!” it's tampering to make any offer to him before the contract actually voids and he becomes a UFA (in march, I think), and I assume the saints aim to get him resigned before then because otherwise they eat that cap hit then and there
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Jan 2, 2018 18:11
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| # ¿ May 14, 2024 05:33 |
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Kalli posted:Do you think it's possible at all for the Browns to not draft a QB #1 overall? Kirk is 100% not signing in Cleveland if they're doing that. as mike glennon found out, free agent signings happen before the draft so you don't know what the team you're signing with is planning on doing
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Jan 2, 2018 20:33
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