Here is what you need to know on this Friday, March 15, 41 days before the NFL draft.
Fitting a big deal in a tight cap
A lot of fans are wondering how the Redskins (since they can’t rely on getting immediate help in the draft) will be able to afford to sign a cornerback, a safety, and Fred Davis or another tight end if he goes elsewhere.
And even though the numbers at this moment show them with less than $1 million of cap space they Redskins can do it.
The first thing they would have to do is create some cap space, probably by restructuring a contract or two. A simple restructure is a fairly routine procedure as the player usually doesn’t give up any money and gets a chunk of his annual salary up front and guaranteed.
Then the team and the agent for the player they are going to sign have to negotiate a contract that is cap friendly in the first year. ESPN.com blogger Kevin Seifert broke down the contract the Lions gave to Reggie Bush.
He received a four-year, $16 million contract that included a $4 million signing bonus and a $1 million base salary in 2013. So Bush will be paid $5 million in cash in 2013 but will count $2 million against the cap (a $1 million base salary plus $1 million prorated). With higher base salaries in future years, his cap number will rise to $4.5 million in 2014 and 2015, and $5 million in 2016.
The Redskins could give a similar contract to, say, Fred Davis. They might want to build in some protection for the team should Davis again run afoul of the NFL’s drug policy but the idea would be similar—small first-year salary with a big signing bonus with the cap charge for that spread out over the length of the deal.
This contract method is common around the NFL and it would not be considered to be exceptionally risky as long as you have a reasonable expectation that the player will finish out his contract. If the contract is terminated early the rest of the signing bonus that was prorated will hit in that season.
And you don’t want to do too many of them. A few are manageable. If you do a half a dozen or more, the rising cap numbers the next year will start to eat up your cap in a hurry.
Alexander leaves for Arizona
In case you missed it
- The Redskins have options at cornerback
- Reskins sign OT Trueblood, bring back LB Kehl
- Davis narrowing down his choices
- Holes need to be filled prior to the draft
Days until: NFL draft 41; Training camp 132; NFL Kickoff Sunday 177
Tandler on Twitter
@mcloving76 RG3 had one of the best rookie QB seasons ever, WAS led NFL in rushing with Polumbus at RT. It's not a premium posit. in system
— Rich Tandler (@Rich_TandlerCSN) March 15, 2013
Corners are disappearing from the market. So are teams that need corners. Supply and demand seems to work in the #Redskins' favor.
— Rich Tandler (@Rich_TandlerCSN) March 14, 2013
Comments