Thread: Post-Jennings Cap Situation
03-23-2013, 07:28 PM #1
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Post-Jennings Cap Situation
For those interested, here is a break down of the current cap situation Post-Jennings.
Scout.com: Vikings avoiding much
The Vikings have just over $5.1 million in salary cap room. With two first-round picks and 11 draft picks overall (currently), that won’t leave much room for them to add much more in free agency.
Despite arranging the contract of their most significant free agent signing, Greg Jennings, to go easy on this year’s salary cap, resigning six of their unrestricted free agents and adding Jennings and Matt Cassel in outside free agency put $21.8 million against the 2013 cap. Their actual cash outlay for those eight players was $37.2 this year, meaning more than $15 million was pushed into future years.
The contracts of Jennings and right tackle Phil Loadholt were the biggest culprits. Jennings counts only $5 million against this year’s cap despite a $13 million cash value – $3 million in salary and workout incentives and $10 million in signing bonus. Loadholt counts $4.75 million against the cap this year, despite a $10 million cash outlay.
Most of the Vikings’ other signings match up when comparing cap charge to cash value in the first year. Cassel’s contract is $3.7 million on both ends, and Jerome Simpson’s is $2.1 million on each. FB Jerome Felton counts $1.67 million against the cap with $3 million in first-year cash outlay, and S Jamarca Sanford ($2.25 million against the cap) and LB Erin Henderson ($1.75 against the cap) have only a $250,000 difference in cap charge and actual first-year cash outlay.
Sorry Rick! Keep up the good work.
03-23-2013, 08:57 PM #2
03-23-2013, 10:05 PM #3
Veterans for hire: Plenty of talent available
With the list of names out there it almost seems like there could be 2 more roster filled in the league with these guys and a draft
The Vikings have taken on the organizational philosophy under Rick Spielman to build the team through the draft. It isn’t original. Some of the best franchises in the league have used the draft as almost the exclusive route of building their franchise – Baltimore, Green Bay, Pittsburgh and New England to name a few
Aaron Rodgers' New Contract: Speculation Says $100 Million Over 4 Years
and with Jay Cutler in the last year of his contract the Vikings youth movement could have them in a balanced spot.......since we don't have an elite QB
Wit the price of the elite QB's getting so skewed from the average it seems to me that their prices may be getting to the point where they are beginning to harm the financial health of the teams much in the same way that the first pick in the draft was starting to hurt teams prior to the new CBA. Obviously you are generally working with a known quantity with the veteran QB;s compared to the shot in the dark teams were taking with picks like Jamarcus Russell but still, when a QB starts to command 25 million of cap space then somewhere on the roster something has to give.
So are the Vikings going to actually hit on something by having a QB at the middle of the pack with a lower salary when he hits his second contract where they have more room to build depth across the roster than the other teams in the division who tie all their dollars up one one player?
03-25-2013, 08:55 AM #5Why must you defend everything this FO does....to the point of making your self look like a yes man.
03-25-2013, 09:24 AM #6
03-25-2013, 10:19 AM #7Why must you defend everything this FO does....to the point of making your self look like a yes man.
03-25-2013, 12:06 PM #8
It's a vicious cycle no matter how you want to try and get your head around it. In the end, you want to pay a player in accordance with this value and build the best roster that $123M can get you. You also have to look at player contracts over the life of the contract and not just in isolation for a given year as it is skewed by the structuring. Such as Jared.
I think the Vikings FO looks at spending by position and then tries to fill in the players to fit the budget. A few contracts like Jared and AD are a bit high and will steal from other positions. If you look at where this team spends their money, you see they value DL, OL and RB as the highest positions. Which means they have to be value oriented to fill the other positions. Draft is the #1 source for this talent along with mid-talent FA's. With the dropping of Winfield, it makes sense that they would want to replace him with another FA for a reasonable amount. JA's contract may prevent a big signing for another year, but don't be surprised to see us bring in a number of vet corner's to compete for a starting role this year. There is still the possibility that JA will get cut if they deem restructuring is not the way to go.
03-25-2013, 12:58 PM #9Coming off a hit-or-miss season, Allen is due a whopping $14.3 million in 2013, and will count more than $17 million against the cap
On April 22, 2008, the Chiefs traded Allen to the Minnesota Vikings in exchange for a first-round pick, which they used to select OT Branden Albert, and two third-round picks, one of which was used to take Jamaal Charles, and swapped sixth-round picks in the 2008 NFL Draft. The Vikings then signed Allen to a six-year contract, which at the time was the richest contract for a defensive player in NFL history. Allen was due an $8 million roster bonus in 2010, per the six-year, US$72.36 million contract he signed with the Vikings, and his signing bonus was $15.5 million.
So his signing bonus over 6 years isn't that much...roughly 2.6 mil/year. The majority of the contract is base pay this year, 14.3 million. That's a lot for a DE, but partially earned in earlier years. You would think we could give him a 2 year extension that changed most of that figure to a signing bonus, dividing it out over 3 years. Problem is tho, it only helps us this year, as the following years he's still going to want a big paycheck and now we're still paying for the bonus we paid in 2013. Basically, sure, we can get his number this year down to 5 or 6, but the following 2 years it'll likely be back up at 15-17.
I think we can forget about the franchise tag, pretty sure he'd get either the average of the top 5 salaries, OR a raise of at least ?20?% set by CBA, whichever is greater. Please correct me if I'm wrong there...?Control the line, control the time, and give your D a chance to shine!!
"Balance it on end and thats the third side of the coin!!" -wookiefoot
03-25-2013, 01:30 PM #10