Portis restructures too

dmek25 · 03-02-2006, 02:47 PM

dboyz,you going brokeback on us?

SmootSmack · 03-02-2006, 06:07 PM

Interesting update from profootballtalk.com on Portis' new deal, particularly the part about him being a free agent earlier.

PORTIS GETS MORE MONEY, SHORTER DEAL

We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years.

With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27.

The agreement is contingent upon an extension to the CBA not being reached.

Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary.

The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere.

In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000.

Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009.

We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years.

Sheriff Gonna Getcha · 03-02-2006, 06:12 PM

If it's true, I'm happy and disappointed. I'm happy because we'll save cap space this year. I'm upset because it means opens up the possibility that he'll leave in a few seasons. I want to see him retire here.

steveo395 · 03-02-2006, 06:19 PM

well they better resign portis after that contract runs out...i hope they only made it shorter because of the 30% rule...if he wants his salary to go up a lot after 2008

That Guy · 03-02-2006, 06:23 PM

crazy they built that into portis's contract.

Sheriff Gonna Getcha · 03-02-2006, 06:56 PM

Apparently Springs has restructured too.

Redskins_P · 03-03-2006, 12:09 AM

As long as Portis stays on the roids....we're good.

CrazyCanuck · 03-03-2006, 07:33 PM

Here's some details about Portis' contract from ProFootballTalk.com:

http://www.profootballtalk.com/rumormill.htm

PORTIS GETS MORE MONEY, SHORTER DEAL

We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years.

With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27.

The agreement is contingent upon an extension to the CBA not being reached.

Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary.

The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere.

In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000.

Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009.

The deal also includes specific language exempting Portis from any duty to refund bonus money if there is a work stoppage. On Wednesday, we explained that, absent such protections, players might face claims that a work stoppage equates to a default, requiring the players to pay back bonus money pursuant to the specific terms of their contracts.

We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years.

Pocono · 03-04-2006, 04:50 PM

Quote:

Originally Posted by CrazyCanuck

Here's some details about Portis' contract from ProFootballTalk.com:

http://www.profootballtalk.com/rumormill.htm

PORTIS GETS MORE MONEY, SHORTER DEAL

We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years.

With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27.

The agreement is contingent upon an extension to the CBA not being reached.

Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary.

The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere.

In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000.

Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009.

The deal also includes specific language exempting Portis from any duty to refund bonus money if there is a work stoppage. On Wednesday, we explained that, absent such protections, players might face claims that a work stoppage equates to a default, requiring the players to pay back bonus money pursuant to the specific terms of their contracts.

We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years.

Portis was due 3.5M this year in his old contract and under this plan he will receive 1M less so the most this will save on the cap is 1M and it would make him a FA three years early at the age of 27. Getting 300K extra through 08 and becoming a FA in his prime is a great deal for Portis. I'm surprised he let this be contingent on the CBA outcome. He should have insisted on this being done either way or no deal.

Pocket$ $traight · 03-05-2006, 01:11 AM

Quote:

Originally Posted by Pocono

Portis was due 3.5M this year in his old contract and under this plan he will receive 1M less so the most this will save on the cap is 1M and it would make him a FA three years early at the age of 27. Getting 300K extra through 08 and becoming a FA in his prime is a great deal for Portis. I'm surprised he let this be contingent on the CBA outcome. He should have insisted on this being done either way or no deal.

People may disagree with me on this one but the way that they are working Portis, he is due for a big injury and personally I think they would be better off with another back in two years. That is just my opinion and I am not taking anything away from CP's performance last year which was phenomenal.

Pocket$ $traight · 03-03-2006, 10:27 PM

Hey D'Boyz

That is too bad that you are losing Larry Allen. He was the most dominant player at his position in your history.

How are the Girlz going to replace Glover? He has been the lynchpin of your D since he got there.

diehardskin2982 · 03-04-2006, 01:46 PM

I heard on the local DC news that the team is talking to Lavar about restructuring

That Guy · 03-04-2006, 02:30 PM

Quote:

Originally Posted by diehardskin2982

I heard on the local DC news that the team is talking to Lavar about restructuring

they have been for over a month

i'd be much happier if something actually got done though.

RiggoRules · 03-04-2006, 02:24 PM

Not to hijack the thread, but....

How can PFT have any credibility when the MODS on their board engage in some pretty ugly, vile and ignorant racist BS on a regular basis.

That Guy · 03-04-2006, 02:31 PM

Quote:

Originally Posted by RiggoRules

Not to hijack the thread, but....

How can PFT have any credibility when the MODS on their board engage in some pretty ugly, vile and ignorant racist BS on a regular basis.

haven't heard about that before... got any specifics or examples?

03-02-2006, 02:47 PM	#1
dmek25 MVP Join Date: Oct 2005 Location: lancaster,pa Age: 64 Posts: 10,672	Re: Portis restructures too dboyz,you going brokeback on us? __________________ "It's better to be quiet and thought a fool than to open ones mouth and remove all doubt." courtesy of 53fan

03-02-2006, 06:07 PM	#2
SmootSmack Uncle Phil Join Date: Feb 2004 Posts: 45,256	Re: Portis restructures too Interesting update from profootballtalk.com on Portis' new deal, particularly the part about him being a free agent earlier. PORTIS GETS MORE MONEY, SHORTER DEAL We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years. With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27. The agreement is contingent upon an extension to the CBA not being reached. Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary. The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere. In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000. Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009. We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years. __________________ You're So Vain...You Probably Think This Sig Is About You

03-02-2006, 06:12 PM	#3
Sheriff Gonna Getcha Franchise Player Join Date: Feb 2004 Age: 47 Posts: 8,317	Re: Portis restructures too If it's true, I'm happy and disappointed. I'm happy because we'll save cap space this year. I'm upset because it means opens up the possibility that he'll leave in a few seasons. I want to see him retire here.

03-02-2006, 06:19 PM	#4
steveo395 The Starter Join Date: Mar 2005 Location: New Jersey Posts: 1,674	Re: Portis restructures too well they better resign portis after that contract runs out...i hope they only made it shorter because of the 30% rule...if he wants his salary to go up a lot after 2008

03-02-2006, 06:23 PM	#5
That Guy Living Legend Join Date: Jun 2004 Location: VA Age: 43 Posts: 17,620	Re: Portis restructures too crazy they built that into portis's contract.

03-02-2006, 06:56 PM	#6
Sheriff Gonna Getcha Franchise Player Join Date: Feb 2004 Age: 47 Posts: 8,317	Re: Portis restructures too Apparently Springs has restructured too.

03-03-2006, 12:09 AM	#7
Redskins_P Fight for old DC! Join Date: Feb 2004 Location: Aldie, VA Age: 48 Posts: 4,101	Re: Portis restructures too As long as Portis stays on the roids....we're good.

03-03-2006, 07:33 PM	#8
CrazyCanuck Serenity Now Join Date: Feb 2004 Location: Canada Posts: 2,008	Re: Portis restructures too Here's some details about Portis' contract from ProFootballTalk.com: http://www.profootballtalk.com/rumormill.htm PORTIS GETS MORE MONEY, SHORTER DEAL We reported on Wednesday that the Redskins were in the process of restructuring the contract of running back Clinton Portis by converting a roster bonus to a guaranteed payment, spreading out the cap charge over multiple years. With the prospects of an extended CBA less and less likely, and with the Redskins poised to make massive cuts before the start of the 2006 league year, a league source tells us that the Redskins and Portis have reached a tentative agreement on a sweeping restructuring that: (1) pushes money from future years forward; (2) contains more than $1.5 million in guaranteed salary in 2007; (3) pays him $300,000 more through 2008 that his prior contract would have; and (4) expires three seasons earlier, making him eligible for unrestricted free agency in 2009 at the age of 27. The agreement is contingent upon an extension to the CBA not being reached. Under the new deal, Portis gets a $1.99 million roster bonus in 2006 and a salary of $545,000. He receives an option bonus of $8.2515 million in 2007, which includes a non-exercise penalty. He also receives $1.517 million in guaranteed salary and $545,000 in non-guaranteed salary. The guarantee includes a provision exempting him from the standard offset principle, which reduces any money he earns from another team if he is released prior to 2007. If the 'Skins cut him before the 2007 season, he pockets the full $1.517 million regardless of what he earns elsewhere. In 2008, he receives an option bonus in the amount of $1.517 million, with a non-exercise provision requiring the team to pay him that same amount. He also gets a base salary of $545,000. Due to the 30 percent rule, the new deal expires after the 2008 season, allowing Portis to hit the open market in 2009. The deal also includes specific language exempting Portis from any duty to refund bonus money if there is a work stoppage. On Wednesday, we explained that, absent such protections, players might face claims that a work stoppage equates to a default, requiring the players to pay back bonus money pursuant to the specific terms of their contracts. We're not sure how much cap room this new deal creates, but it's undoubtedly a short-term benefit for the Redskins, since to get it done they're giving Portis more money and tying him up for three less years.

03-03-2006, 10:27 PM	#11
Pocket$ $traight Registered User Join Date: Jan 2006 Location: Fairfax, VA Age: 50 Posts: 4,261	Re: Portis restructures too Hey D'Boyz That is too bad that you are losing Larry Allen. He was the most dominant player at his position in your history. How are the Girlz going to replace Glover? He has been the lynchpin of your D since he got there.

03-04-2006, 01:46 PM	#12
diehardskin2982 Another Year, another mess. Join Date: Feb 2004 Posts: 3,581	Re: Portis restructures too I heard on the local DC news that the team is talking to Lavar about restructuring __________________ That got ugly fast

03-04-2006, 02:24 PM	#14
RiggoRules Special Teams Join Date: Mar 2006 Posts: 380	Re: Portis restructures too Not to hijack the thread, but.... How can PFT have any credibility when the MODS on their board engage in some pretty ugly, vile and ignorant racist BS on a regular basis. __________________ *"Lighten up, Sandy Baby."*

Portis restructures too

Locker Room Main Forum