Current Redskins Salary Cap Status - 2008
 

Under review.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=Schneed10;425158]In this thread, CrazyCanuck and I will periodically update the Salary Cap status of the Washington Redskins. As players restructure, resign, are signed as free agents, drafted, cut, and traded, we will do our best to keep the community updated on the cap implications of each transaction. This thread is also designed to house analysis and insight regarding the Redskins' likely course of action in free agency and the draft. The salary cap can often provide an indication of the team's intended approach to free agency - aggressive vs passive, etcetera.

We'll start off with a summary of the Redskins current cap situation and where they're likely headed before free agency opens in March.

In short, the numbers in the table below illustrate that the Redskins are currently $5.8 million over the cap. Once Brunell and Cartwright's contracts void, they will be $2.1 million over the cap. And then once the team makes some more standard moves listed below, the team should have an estimated $9.7 million in cap room heading into free agency.

Numbers presented below are in millions:[/quote]


Thanks for the update - so Brunell and Cartwright are the only two players with the voidable deals upcoming for this season?

Re: Current Redskins Salary Cap Status - 2008
 

Didn't see anything in there specifically about Jon Jansen...do any of these figures reflect the effect of him restructuring?

Re: Current Redskins Salary Cap Status - 2008
 

[quote=Rajmahal33;425162]Didn't see anything in there specifically about Jon Jansen...do any of these figures reflect the effect of him restructuring?[/quote]

Yes, Jansen's restructured deal is reflected in the numbers at the top of the analysis, within the current state section.

Re: Current Redskins Salary Cap Status - 2008
 

i really hope they give Lloyd another shot. the one thing that i really hate is carrying alot of dead cap money

Re: Current Redskins Salary Cap Status - 2008
 

Top notch work Schneed.

Re: Current Redskins Salary Cap Status - 2008
 

Thanks for the love.

I'm making an update. Thanks to SS, we saw a little tidbit regarding some advanced cap-massaging performed by the Skins at the end of 2007. Essentially, coming down the stretch, the Redskins had about $1.8 million in excess unused cap space. There's a loophole in the CBA that says if you renegotiate a contract after the season starts, and you put incentives into the contract, the incentives are automatically considered Likely To Be Earned, regardless of how attainable they are. Hence, the Redskins renegotiated the contract of Randall Godfrey at the end of the season, putting about $1.8 million in incentives into his contract. They were incentives that were impossible to reach, but get treated as LTBE. According to cap rules, when a Likely To Be Earned incentive is not reached, the team gets credit for it in the form of extra cap room the following year.

Essentially, because of this clever maneuver, the Skins managed to push $1.8 million in 2007 cap space into 2008. Because of this little discovery, our cap numbers just got better by $1.8 million.

Clever stuff. Lots of other teams do this, but clever nonetheless.

The change is reflected in the first post in this thread under the current status section.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=dmek25;425176]i really hope they give Lloyd another shot. the one thing that i really hate is carrying alot of dead cap money[/quote]Yeah, you'd be carrying the dead cap in 2008, but cutting dead weight eliminates his contract beyond 2008. So in the long run, it saves the team a lot of money to cut him now.

Re: Current Redskins Salary Cap Status - 2008
 

I know it's hard to come up with exact figures when one does not know the actual contract, however I thought in the last number crunching we figured to be approximatly 20 mil under the cap? I know that also was if they reworked all the contracts. Am I missing something or is the best we can do right now is get 11 mil under?

Re: Current Redskins Salary Cap Status - 2008
 

[quote=SBXVII;425238]I know it's hard to come up with exact figures when one does not know the actual contract, however I thought in the last number crunching we figured to be approximatly 20 mil under the cap? I know that also was if they reworked all the contracts. Am I missing something or is the best we can do right now is get 11 mil under?[/quote]

That figure you're referring to, the $20 million under or whatever it was, assumed we made every possible cap-saving move under the sun. This revised version you're seeing here shows only the moves the team is likely, or at least reported by JLC as likely to make.

For example, the version that showed $20 million meant we'd do things like cut Phillip Daniels and Shawn Springs, plus keep Brandon Lloyd. Those three moves alone would take us from the $11.5 million listed here to very close to the $20 million you're referring to.

So basically, I'm listing the $11.5 because they are moves the team seems likely to make, but the section at the very bottom lists other ways to cut money which would take us closer to the $20.0. In the end, the numbers are the same, it's just a different perspective.

Re: Current Redskins Salary Cap Status - 2008
 

Thanks. I thought that was what you were eluding to. I guess they still have a little work to do next week. I mean all they have to do is get below the mark then they can take their time and work the rest out.

Re: Current Redskins Salary Cap Status - 2008
 

How much more would we save (if any) if we released Lloyd next year instead of this year?

Re: Current Redskins Salary Cap Status - 2008
 

[quote=Dirtbagz89;425423]How much more would we save (if any) if we released Lloyd next year instead of this year?[/quote]The main difference is that we'd have to pay a 1.8 million dollar roster bonus to him and his 2 mil base salary. So we'd be costing ourselves 3.8 million in total contract value to keep him on.

We'd have less dead cap next year than we would this year, but his cap number for 2009 if we release him now is zero, and thats what we are going for.

Good question though, and welcome.

Re: Current Redskins Salary Cap Status - 2008
 

The first post in this thread has been updated to reflect the changes CC made in his 2/23 cap sheet update.

Brunell and Cartwright are assumed to be voided and off the roster now, Landry's bonus money was revised, and some updates to Tyler Ecker's figures were made as his situation was complicated last year as he was signed and cut and signed again.

I have to express to you guys how good CC is at keeping up with this stuff. He's so good, that he's even more accurate than the numbers that JLC and Adam Schefter are quoting in their reporting. Those reporters get their information from another fan capologist who seems to have insider information on bonus dollars awarded to players, but his numbers are incorrect in a few areas. CC really really knows this stuff. If you see him around the site, pat him on the proverbial back.

Re: Current Redskins Salary Cap Status - 2008
 

The numbers at the top of this thread have been updated.

Chris Samuels has received a two-year contract extension in which the team added base salaries of $8 million per year each in 2012 and 2013. In the deal, the Redskins converted $3.8 million of his 2008 base salary into a signing bonus.

This move reduced our cap figure this year by $3.2 million.

Re: Current Redskins Salary Cap Status - 2008
 

so are we still over cap?

Re: Current Redskins Salary Cap Status - 2008
 

[quote=goingdeep;425982]so are we still over cap?[/quote]

No, we're under now. See the Current Status section at the top. We're $1.4 million under.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=Schneed10;425158]In this thread, CrazyCanuck and I will periodically update the Salary Cap status of the Washington Redskins. As players restructure, resign, are signed as free agents, drafted, cut, and traded, we will do our best to keep the community updated on the cap implications of each transaction. This thread is also designed to house analysis and insight regarding the Redskins' likely course of action in free agency and the draft. The salary cap can often provide an indication of the team's intended approach to free agency - aggressive vs passive, etcetera.

We'll start off with a summary of the Redskins current cap situation and where they're likely headed before free agency opens in March.

In short, the numbers in the table below illustrate that the Redskins are currently $1.4 million under the cap. This assumes that Brunell and Cartwright's contracts have voided. And then once the team makes some more standard moves listed below, the team should have an estimated $10.4 million in cap room heading into free agency.

Numbers presented below are in millions:[/quote]

You cap geeks do a GREAT JOB explaining this to dumb asses like me. Great post! My question is about Springs. He has a huge number this year. I remember it being 7 or 8 mil. I just don't think he is worth the $ he's getting paid. Do you think he's going to stay? Are they going to ask him to take a pay cut again? I remember they did last year and he called their bluff.

Re: Current Redskins Salary Cap Status - 2008
 

Actually you cap geeks suck! Tell us are cap status is great and that we have infinite billon dollars of cap room.

In all seriousness that cap stuff looks like a pain in the ass to do, let alone comprehend. Either way great job on keeping us up to date on all this.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=skinsfan69;426017]You cap geeks do a GREAT JOB explaining this to dumb asses like me. Great post! My question is about Springs. He has a huge number this year. I remember it being 7 or 8 mil. I just don't think he is worth the $ he's getting paid. Do you think he's going to stay? Are they going to ask him to take a pay cut again? I remember they did last year and he called their bluff.[/quote]I do think Springs will stay, provided he survives the next 4 days. We need at least a month of his services in 2008.

Due to the restructuring of his contract in the past, we can only recover about 2.5 million of that 7 if we cut him. Though cutting him now makes a better situation for 2009, (when we would recover all of his current cap number), speaking purely about 2008, we don't save enough cap room by cutting him to sign a CB who can play at his level right away.

Re: Current Redskins Salary Cap Status - 2008
 

[QUOTE=Schneed10;425977]The numbers at the top of this thread have been updated.

Chris Samuels has received a two-year contract extension in which the team added base salaries of $8 million per year each in 2012 and 2013. In the deal, the Redskins converted $3.8 million of his 2008 base salary into a signing bonus.

This move reduced our cap figure this year by $3.2 million.[/QUOTE]

Agreed.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=skinsfan69;426017]You cap geeks do a GREAT JOB explaining this to dumb asses like me. Great post! My question is about Springs. He has a huge number this year. I remember it being 7 or 8 mil. I just don't think he is worth the $ he's getting paid. Do you think he's going to stay? Are they going to ask him to take a pay cut again? I remember they did last year and he called their bluff.[/quote]

We could cut or extend him, that would reduce his cap number. But in my opinion, the wisest move is to simply carry him with that high cap number this year. We need him with Rogers recovering, and he's still a good starting CB in this league (we had a top 10 defense with him as a starter all year).

We don't need his cap space. We can create $10.4 million in space by restructuring others. We should carry him at the high number this year rather than kicking more of his cap money into the future. Because if we carry him without restructuring this year, it makes it much easier to let him go next season when we can cut him and save $6.0 million from our 2009 cap number.

The Skins also might consider extending him a few years, but they should only do that if they really feel like he'll be a strong starter for at least two more seasons.

Like I said, I'd carry him this year, and then probably cut him next year when Smoot and Rogers can be the starters.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=Schneed10;426112]We could cut or extend him, that would reduce his cap number. But in my opinion, the wisest move is to simply carry him with that high cap number this year. We need him with Rogers recovering, and he's still a good starting CB in this league (we had a top 10 defense with him as a starter all year).

We don't need his cap space. We can create $10.4 million in space by restructuring others. We should carry him at the high number this year rather than kicking more of his cap money into the future. Because if we carry him without restructuring this year, it makes it much easier to let him go next season when we can cut him and save $6.0 million from our 2009 cap number.

The Skins also might consider extending him a few years, but they should only do that if they really feel like he'll be a strong starter for at least two more seasons.

Like I said, I'd carry him this year, and then probably cut him next year when Smoot and Rogers can be the starters.[/quote]

I agree. We should just eat the salary this year cause we need him.. But damn that's a lot of coin. But I just don't think it's smart to restructure him at his age and with his history of injuries. I'd probably think 08 will be his last year with us.

Re: Current Redskins Salary Cap Status - 2008
 

Geat work keeping up with this stuff guys. One of the big reasons I love the warpath and contribute yearly. I'll ask Matty to increase your pay (a percentage increase of course....;)).

Re: Current Redskins Salary Cap Status - 2008
 

JLC blog:

[url=http://blog.washingtonpost.com/redskinsinsider/]Redskins Insider[/url]

Posted at 2:26 PM ET, 02/26/2008
Quick Update

Back from a mini vacation of sorts, or at least a day. Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.

Briefly, I expect the Skins to continue to pursue several trade options with the free agent market limited. I'll post on that later in the week. They have interest in several players who are being floated.

Also, heard from league sources that the Redskins have made major changes to their medical staff. Ray Thal, the longtime surgeon, is no longer with the club, and was not with the team at the combine, sources said. The Skins are looking for a new orthopedic specialist and were working as usual with James Andrews, who is on the sidelines at Skins games, to land a new local surgeon.

As I wrote about in a story outlining the offseason about 2-3 weeks ago, the Redskins will also make official soon the creation of a new segment of their medical team specifically for rehab, with a focus on the kind of muscle injuries that plagued them last season. They will make hires in that regard as well.

I'm on Washington Post Live on Comcast as well, from 5-6, so email in any questions.

Good to be back.
Cheers.

Re: Current Redskins Salary Cap Status - 2008
 

[QUOTE=skinsfan_nn;426267]Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.[/QUOTE]

For the record Schneed and I have us at $1.4M under, not $3M under.

I think JLC is quoting PC's cap sheets which are incorrect as far as we can tell.

Re: Current Redskins Salary Cap Status - 2008
 

Yeah, JLC uses PCinOZ as his "inside man" for Redskins salary cap information. He's got a real good setup on his site, but the math is off in a spot at the moment, and he's got a few salary/bonus figures that don't jive with the NFLPA.

The real number is closer to $1.4 million.

Re: Current Redskins Salary Cap Status - 2008
 

Lloyd is released--so that pushes us back over the cap by 1.5 million.

Get Portis on the phone, we'll get back under.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=skinsfan_nn;426267]JLC blog:

[URL="http://blog.washingtonpost.com/redskinsinsider/"]Redskins Insider[/URL]

Posted at 2:26 PM ET, 02/26/2008
Quick Update

Back from a mini vacation of sorts, or at least a day. Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.


Good to be back.
Cheers.[/quote]

Thank God he's back. No offense but whoever was filling in for JLC, wasn't getting anything. Zorn speaks about QB situation? Wasn't that covered about a month ago. While JLC was gone it was more like Redskins Outsider.

It got to the point where I was checking the Times, which when it comes to covering the Redskins, is light years behind JLC.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=skinsfan_nn;426267]JLC blog:

[URL="http://blog.washingtonpost.com/redskinsinsider/"]Redskins Insider[/URL]

Posted at 2:26 PM ET, 02/26/2008
Quick Update

Back from a mini vacation of sorts, or at least a day. Anyway, the Skins redid Chris Samuels's contract the other day after doing Jansen's as well - combined the deals created $6.3 million in cap space, so the Skins are roughly $3 million under and still have 3-4 other contracts they could rework to create more room.

Briefly, I expect the Skins to continue to pursue several trade options with the free agent market limited. I'll post on that later in the week. They have interest in several players who are being floated.

Also, heard from league sources that the Redskins have made major changes to their medical staff. Ray Thal, the longtime surgeon, is no longer with the club, and was not with the team at the combine, sources said. The Skins are looking for a new orthopedic specialist and were working as usual with James Andrews, who is on the sidelines at Skins games, to land a new local surgeon.

As I wrote about in a story outlining the offseason about 2-3 weeks ago, the Redskins will also make official soon the creation of a new segment of their medical team specifically for rehab, with a focus on the kind of muscle injuries that plagued them last season. They will make hires in that regard as well.

I'm on Washington Post Live on Comcast as well, from 5-6, so email in any questions.

Good to be back.
Cheers.[/quote]

A little off topic, but I would just like to brag that Ray Thal did my ACL reconstruction and Medial Meniscus repair when I tore them 2 years ago. Pre surgery I was flipping out with anxiety, then he gave me some oxycoddene, and I chilled out and all I cared about was him giving a good surgery to Randy Thomas (this was during the first gibbs playoff run). Im kinda sad that I cant say that the redskins surgen did my surgery anymore. He was a good guy.

Re: Current Redskins Salary Cap Status - 2008
 

The first post in this thread has been updated to reflect the release of WR Brandon Lloyd. His release causes a cap hit of $2.9 million this year, but clearing him off the 2009 books completely, under the assumption that his release was designated a pre-June 1 move.

We're still looking for confirmation that he was indeed a pre-June 1 release. If we hear otherwise, we will update the numbers again.

Re: Current Redskins Salary Cap Status - 2008
 

[QUOTE=Schneed10;426465]The first post in this thread has been updated to reflect the release of WR Brandon Lloyd. His release causes a cap hit of $2.9 million this year, but clearing him off the 2009 books completely, under the assumption that his release was designated a pre-June 1 move.

We're still looking for confirmation that he was indeed a pre-June 1 release. If we hear otherwise, we will update the numbers again.[/QUOTE]

From: [url=http://www.washingtonpost.com/wp-dyn/content/article/2008/02/26/AR2008022603262.html]washingtonpost.com[/url]

"His release, long anticipated, does not save Washington any immediate salary cap space, with the free agency and trade period beginning at 12:01 a.m. Friday, but will create additional room this June. Lloyd, who could not be reached to comment, was designated a June 1 cut for salary cap purposes, executive vice president Vinny Cerrato said, which means his salary cap figure of $4.2 million will drop to $1.8 million on June 1. (Lloyd will count $5.5 million in dead cap space in 2009.) "

- So Lloyd will stay on the books at $4.238M until June 1. On June 1 his 2008 cap hit will go down to $1.833M of deadcap. He will cost us $5.333M of deadcap in 2009.

Re: Current Redskins Salary Cap Status - 2008
 

explanation -
in the NFL, you used to be able to either cut players and take the full hit immediately, or wait till june 1st and take the hit for the following season... in the last CBA, both sides thought it was stupid to keep players on rosters that teams didn't want while all the free agency money dried up, so now teams can designate two players per year as post june 1 cuts, while releasing them immediately, saving everyone some hassle.

Re: Current Redskins Salary Cap Status - 2008
 

Hey, not to be A butt hole......I kinda liked seeing all the plays to be made and "EXICUTED" next to them. It may have been messier but my pea brain can't remember which assumed changes have already happened. In other words I was just hoping to keep a record as to which players have helped out.

I know I should have taken notes. sorry. maybe just a list of names as to who has been reworked once and a while. Thank You.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=SBXVII;426568]Hey, not to be A butt hole......I kinda liked seeing all the plays to be made and "EXICUTED" next to them. It may have been messier but my pea brain can't remember which assumed changes have already happened. In other words I was just hoping to keep a record as to which players have helped out.

I know I should have taken notes. sorry. maybe just a list of names as to who has been reworked once and a while. Thank You.[/quote]

Actually me and CC were thinking the same thing. I'm working on adding that piece back again.

Re: Current Redskins Salary Cap Status - 2008
 

[quote=CrazyCanuck;426547]From: [url=http://washingtonpost.com]washingtonpost.com - nation, world, technology and Washington area news and headlines[/url]

"His release, long anticipated, does not save Washington any immediate salary cap space, with the free agency and trade period beginning at 12:01 a.m. Friday, but will create additional room this June. Lloyd, who could not be reached to comment, was designated a June 1 cut for salary cap purposes, executive vice president Vinny Cerrato said, which means his salary cap figure of $4.2 million will drop to $1.8 million on June 1. (Lloyd will count $5.5 million in dead cap space in 2009.) "

- So Lloyd will stay on the books at $4.238M until June 1. On June 1 his 2008 cap hit will go down to $1.833M of deadcap. He will cost us $5.333M of deadcap in 2009.[/quote]

Thanks CC.

The top post in this thread has been updated to reflect Brandon Lloyd's status as a Post-June 1 cut. Thus, our current status reverts back to the $1.4 million of room we were previously reporting. Cap space for Brandon Lloyd will be realized on June 1 in the amount of $2.4 million.

We'll carry him on our 2009 books, at $5.3 million of deadcap space as CC mentioned.

Re: Current Redskins Salary Cap Status - 2008
 

The top post in this thread has been updated to provide a summary of the executed transactions.

Re: Current Redskins Salary Cap Status - 2008
 

Thank You!!! : )

Re: Current Redskins Salary Cap Status - 2008
 

Great work Schneed. Love the executed section, you're really on the mark! They should hire you to balance the federal budget.

PS - Like the sig too, good idea.

Re: Current Redskins Salary Cap Status - 2008
 

During my sleep something occurred to me - why the hell would the Skins designate Lloyd as a June 1 cut now??? Don't get me wrong, I understand the cap reasons, but why not just wait until June 1?

The spirit of the "early June 1" rule was that guys could count as June 1 cuts while being released earlier so as not to miss the free agent window starting in March. It's a courtesy rule so as not to penalize the player by making him miss the heat of free agency.

Now if this was Thomas or Samuels or someone who had given a bunch of good years to the team then I fully understand letting them out early. But why Lloyd? By all accounts Lloyd was not exactly a team player, in fact the opposite. And since there is no financial incentive for the Skins to let him out early, why do it? Why not let him rot on the sidelines until June?

The only explanation that makes sense to me is that Lloyd agreed to pay the Skins some money back under the table, probably in the form of a donation to Snyder's favorite charity - The Cerrato Fund.

Anyone have a different take?