Reactions about Chris Culliver being cut?

[Defensewins]

What is the cap savings and/or cap hit to release him?

[SkinzWin]

Originally Posted by Defensewins

What is the cap savings and/or cap hit to release him?

That's the part I'm scratching my head about. We saved $5.5 mil cutting him now whereas we would have saved $8 mil cutting him after 6/1. Why not wait. $2.5 mil is a lot.

@granthpaulsen "Scot McCloughan annouces #Redskins released CB Chris Culliver. Releasing Culliver before 6/1 saves $5.5M in cap. Would've saved $8M post 6/1"

[ethat001]

Originally Posted by SkinzWin

That's the part I'm scratching my head about. We saved $5.5 mil cutting him now whereas we would have saved $8 mil cutting him after 6/1. Why not wait. $2.5 mil is a lot.

I think you can designate this a post-6/1 cut.. News stories are saying $8 million dollar savings.

[SkinzWin]

Originally Posted by ethat001

I think you can designate this a post-6/1 cut.. News stories are saying $8 million dollar savings.

I edited my post to include the tweet where I saw it. I didn't know you could predate a release like that.

[Schneed10]

Shrewd decision that leaves emotion out of the equation. You know I love that.

He was going to count $9.25M on the cap this year. Instead, by cutting him, we carry a $3.75M dead cap charge, thereby freeing $5.5M in cap space.

In other words, we just created $5.5M in cap space with this move.

[sdskinsfan2001]

Wish we kept him. There were other players that could be let go to save cap space. They must still be really confident in Dunbar which is good cause I like him. Best of luck Cully, hopefully he still comes back.

[MTK]

Not surprised given the pickups of Norman and Fuller.

[Alvin Walton]

I certainly wont miss him.
He was barely a Redskin.
He had no impact.

[skinsfan69]

Also really want to see if Dunbar can take another step forward. Very intriguing player for us.

[SkinzWin]

Schneed is it true we would save $8 mil instead of $5.5 if we cut him after 6/1?

[Schneed10]

Originally Posted by SkinzWin

Schneed is it true we would save $8 mil instead of $5.5 if we cut him after 6/1?

Yes, but then we would have been eating $2.5M of dead money next year, as opposed to zero with the way we're doing it.

If you release a player after June 1 then you get to push off a portion of the dead money burden until next year. The Redskins chose to take the hit now to increase flexibility next year. Wise, given that Reed, Cousins, the WRs and others will all be up for new deals.

[NC_Skins]

He got a lot of money for not doing a god damn thing. Glad that suspension nullified that guaranteed salary this year. Hit the road jack.

[That Guy]

he was released with post june 1 per kien (espn blog)

[Schneed10]

Originally Posted by That Guy

he was released with post june 1 per kien (espn blog)

Ah you're right, so it is.

For those wondering how this works, here's the rundown.

When you release a player, you have to recognize any money you paid to him on your cap in the year you released him. In Culliver's case, we paid him a $5M signing bonus up front when he signed him to his 4 year deal. That $5M was to spread evenly to the cap over the course of the 4 years, meaning that each year on the roster the signing bonus was to count $1.25M each season (four seasons x 1.25M = $5M signing bonus).

He played one season for us, meaning we carried the first year's portion of that bonus last year. We still have 3 more years of it that still need to hit our cap books. When we released him, we're forced to carry all the rest of it, which is the remaining $3.75M.

The rules used to be that if you released a player after June 1, you could recognize one year's portion of the signing bonus on your cap this year, and the rest would go on the next year's cap. So if we released him after June 1, we would carry $1.25 on the 2016 cap, and then the remaining $2.5M on the 2017 cap.

But the NFL Players Association thought it was shitty that the player would hit the free agent market on June 1, when most teams had their rosters set. It meant the player wouldn't have much of a market. So they said how about we let you designate players as a post-June 1 release for cap purposes, but you can go ahead and release him now before June 1 so that he can hit the market and try to get the best deal. So they did that.

So Culliver gets released now, but for cap purposes only they treat him as being released after June 1. So the Redskins save his $9.25M salary this year, and carry $1.25M of dead cap money this year, thus freeing $8M in cap space in 2016.

They then will carry $2.5M in dead cap space for him in 2017.

There you have it, clear as mud. I would have preferred they take the full cap hit now, but it's of little consequence in the end.

[SkinzWin]

Yep. Per NFL Trade Rumors also. Redskins Released CB Chris Culliver With Post-June 1 Designation, Picked Up $8M In Cap Room bit.ly/1WDSZCw #Redskins