Current Redskins Salary Cap Status - 2008

[SBXVII]

Schneed10, Yesterday I thought we were at 1.4 mil under with the Lloyd cut and it will change later in June when he counts against us. Today they cut Brunell and it is supposed to save us 3.4 but we are still at 1.4 under the cap.

Am I missing something? help. Maybe I'm to quick to the punch and you have not updated that part yet? Please say yes.

[GTripp0012]

Originally Posted by SBXVII

Schneed10, Yesterday I thought we were at 1.4 mil under with the Lloyd cut and it will change later in June when he counts against us. Today they cut Brunell and it is supposed to save us 3.4 but we are still at 1.4 under the cap.

Am I missing something? help. Maybe I'm to quick to the punch and you have not updated that part yet? Please say yes.

Brunell's voiding was included in the 1.4 figure.

[Schneed10]

Originally Posted by GTripp0012

Brunell's voiding was included in the 1.4 figure.

Exactly.

[SKINSnCANES]

because as long as hes on the team then he shows up to sprign practice, mini camp, etc, and is hes a cancer and not part of your plans then no point in him being there and making someone else think they dont have a spot.

thats just my opinion, seemed like something zorn needed to do to keep the correct mindset going and get thigns in place

[SBXVII]

Gotcha. head was up my you know what. contracts that were to be voided were not included due to the fact they run out and do not count against after March 1st.

[Schneed10]

The top post in this thread has been updated to reflect the Santana Moss contract extension.

The Redskins extended Moss's contract by two years, putting him under contract through the 2013 season. He is scheduled to receive base salaries of $5.0 million in 2012 and $6.0 million in 2013.

This transaction created $2.1 million in cap space. It is clear that the Redskins are trying to create more cap room this year by extending key players rather than simply restructuring them.

[Schneed10]

Note: This thread has not yet been updated for the Todd Collins signing. Awaiting official contract numbers.

I'd expect his 2008 cap hit to be about $1.85 million.

[MTK]

Originally Posted by Schneed10

The top post in this thread has been updated to reflect the Santana Moss contract extension.

The Redskins extended Moss's contract by two years, putting him under contract through the 2013 season. He is scheduled to receive base salaries of $5.0 million in 2012 and $6.0 million in 2013.

This transaction created $2.1 million in cap space. It is clear that the Redskins are trying to create more cap room this year by extending key players rather than simply restructuring them.

What are the advantages of extending a contract vs. restructuring exactly?

[Schneed10]

Originally Posted by Mattyk72

What are the advantages of extending a contract vs. restructuring exactly?

With the way the Redskins are doing things, they're nearly the same, but the extension creates a little bit more room this year than a simple restructure would.

In a restructure, you take the player's base salary and convert as much of it as possible to a signing bonus, paying him up front. This allows you to spread the cap hit of that money over the remainder of his contract, thereby reducing his 08 cap figure and increasing the cap figures on the remaining years.

But with an extension, you're adding years to the deal. In Moss's case, his old contract said he'd be a Skin till 2011, or four more seasons. Today the Skins gave him $3.25 million as a signing bonus. If we restructured him, that $3.25 million would get spread over the remaining four years. But since we extended him, he now has six years left, so the $3.25 million gets spread over 6 years instead of four, reducing the amount you carry each season.

$3.25 divided by four years is $810K per season. $3.25 divided by six years is $540 K per season. A difference of a little more than $200K per year.

So it creates more cap room now, reduces the cap hits over the next four years, and adds two more years on at the end where we have to carry the difference.

[TheMalcolmConnection]

It's like they're gearing up for at least ONE go at a big name.

[MTK]

Originally Posted by Schneed10

With the way the Redskins are doing things, they're nearly the same, but the extension creates a little bit more room this year than a simple restructure would.

In a restructure, you take the player's base salary and convert as much of it as possible to a signing bonus, paying him up front. This allows you to spread the cap hit of that money over the remainder of his contract, thereby reducing his 08 cap figure and increasing the cap figures on the remaining years.

But with an extension, you're adding years to the deal. In Moss's case, his old contract said he'd be a Skin till 2011, or four more seasons. Today the Skins gave him $3.25 million as a signing bonus. If we restructured him, that $3.25 million would get spread over the remaining four years. But since we extended him, he now has six years left, so the $3.25 million gets spread over 6 years instead of four, reducing the amount you carry each season.

$3.25 divided by four years is $810K per season. $3.25 divided by six years is $540 K per season. A difference of a little more than $200K per year.

So it creates more cap room now, reduces the cap hits over the next four years, and adds two more years on at the end where we have to carry the difference.

that's what I figured, thanks

[celts32]

Originally Posted by TheMalcolmConnection

It's like they're gearing up for at least ONE go at a big name.

That's what I am thinking...why create all this room if your not going to use it. And if they were only interested in bargain free agents later on then the cap room they had before the Moss extension was already enough.

[MTK]

I'm not sure if they will go after a big name or not. $3.4M in cap space isn't much room to do anything, so they need to clear up more room regardless.

[GTripp0012]

Originally Posted by Mattyk72

I'm not sure if they will go after a big name or not. $3.4M in cap space isn't much room to do anything, so they need to clear up more room regardless.

Especially since we used about 1/3 of it to sign Collins.

$1.5 million cap hit - $0.3 rule of 51 credit = $1.2 million cap spent this year on TC.

So we're back down in the 2.3-2.2 room range.

[skinsfan_nn]

JLC blog, Current:

Redskins Insider

Posted at 4:42 PM ET, 02/29/2008
Salary Cap Update

So the Skins were $3.5 million under the cap yesterday. Once the Collins signing becomes official - he has agreed to terms but all of the paperwork has not yet been executed - that would put the Skins at $2 million under the cap.

However, the rengotiation with Santana Moss is complete and official, sources said, creating an additional $2.1 million in space. So let's call it $4.1 for now. And the Clinton Portis renegotiation is essentiall done, sources said, and once that is reflected in the cap figures the Skins would be sitting on roughly $8 million in room.

Now, most teams will put at least a few million aside to account for injuries and cap issues through the season, and the Skins will need several million more to sign draft picks. But they will also create more space in June with the Brandon Lloyd cut - and they can trim some fat by making other cuts as well - and of course, Shawn Springs, Marcus Washington and Cornelius Griffin remain prime candidates for new deals should a need arise.

To this point the team has not asked any of them for permission to re-do their deals, sources said.