Cap Update

[Schneed10]

Originally Posted by CrazyCanuck

Here's Patten's breakdown (estimates):

Patten - 5 years, $13M, $3.5M SB
Year...Salary...Bonus...Cap Hit
2005...$660.....$700....$1360
2006...$660.....$700....$1360
2007...$2000....$700....$2700
2008...$2500....$700....$3200
2009...$3700....$700....$4400
Total..$9520....$3500...$13020
2005 cap hit: $1360

I figure we have about $6.8M left under the 2005 cap.

Yeah, and since they seem to be so cautious in spending that $6.8 million, doesn't it lead us to believe that they are saving the cap room so we can absorb the hit when we decide to get rid of Coles? $6.8 million is a solid amount of room, but they know that getting rid of Coles (by trade or by release) will hit the cap with an additional $6 million charge. If they're really done in free agency like Gibbs says they are, the $6.8 million in remaining cap room is a huge piece of evidence indicating that they plan to get rid of Coles. I hope we at least get Moss (or something else) for him if he's going to end up eating us up as deadcap space.

Releasing Coles will take us right up against the cap pretty much. I think we can probably expect some post-June 1st cuts to make room for the rookie contracts that we'll have to ink for the draft picks. Either that or some contracts will have to get restructured.

We may be done in free agency, but the work isn't done yet.