Portis restructures too

[That Guy]

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.

[That Guy]

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?

[RiggoRules]

Sure...

Go to:

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

Then, at the top, click on the "Message Boards" link. Click on the link at that jump page.

Then you will find topics like: "What a shocker, a black QB scores poorly on his Wonderlic" and on the second page, a thread titled "Hiring and firing black coaches".

Look, I'm anything but politically correct. I'll even defend their right to spew their hatred and be idiots. Just raises some serious questions in my mind about the credibility of anything coming out of PFT.

[Sheriff Gonna Getcha]

Originally Posted by RiggoRules

Sure...

Go to:

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

Then, at the top, click on the "Message Boards" link. Click on the link at that jump page.

Then you will find topics like: "What a shocker, a black QB scores poorly on his Wonderlic" and on the second page, a thread titled "Hiring and firing black coaches".

Look, I'm anything but politically correct. I'll even defend their right to spew their hatred and be idiots. Just raises some serious questions in my mind about the credibility of anything coming out of PFT.

I don't think PFT has much credibility here anyways. Sure we cite some of their articles sometimes, but everyone knows to take their "articles" with a grain of salt.

As to their message board, unfortunately there are a lot of idiots everywhere. I think they might have some boneheaded members, but I haven't seen anything indicating that the mods are racist.

[Pocono]

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]

Originally Posted by That Guy

no they wont. not unless there's a new cba.

So no new CBA will prevent them from dropping him on June 1st and saving 7 million for this year?

Are you sure?

[Pocket$ $traight]

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.

[That Guy]

Originally Posted by Grim21Reaper

So no new CBA will prevent them from dropping him on June 1st and saving 7 million for this year?

Are you sure?

yeah, he'll be 12+mill on the cap this season regardless of when he's dropped. He may still be dropped before his option bonus comes due though.

[Pocket$ $traight]

Originally Posted by That Guy

yeah, he'll be 12+mill on the cap this season regardless of when he's dropped. He may still be dropped before his option bonus comes due though.

Then why have I read in more than one outlet that they can shift the 7 million to next year depending on when they drop him. I think you are wrong on this one.

[bigm29]

So 5 people have restructured so far.(Brunell,Jansen,Thomas,Portis,Springs) Does anyone have any idea of how much cap room this will save us in 06

[RiggoRules]

Originally Posted by bigm29

So 5 people have restructured so far.(Brunell,Jansen,Thomas,Portis,Springs) Does anyone have any idea of how much cap room this will save us in 06

I know I'm out on a limb on this one, but here it goes....

They are using some accounting devices over in Ashburn that no one on the outside has figured out the math for yet.

IF there is no CBA and IF they restructure with Lavar, I think they will save over $10 mil on restructures.

[That Guy]

Originally Posted by Grim21Reaper

Then why have I read in more than one outlet that they can shift the 7 million to next year depending on when they drop him. I think you are wrong on this one.

i'm not. you can only move the money if a new cba is passed the way his contract is currently. No new cba = no post june 1 cut cap relief. If he restructures it might be different.

[That Guy]

Originally Posted by RiggoRules

I know I'm out on a limb on this one, but here it goes....

They are using some accounting devices over in Ashburn that no one on the outside has figured out the math for yet.

IF there is no CBA and IF they restructure with Lavar, I think they will save over $10 mil on restructures.

that's probably close... 8-10mill area it seems. brunell was 1.8, jansen should save a little more, thomas a little less...