Manly Genius is correct re: the cap size. There are exceptions for another $6.5M in spending that can be used on veterans. It's specifically there to keep someone like Shaun Ellis around. The actual cap is $120.375M (that's the number that the owners need to hit 99% of spending on per the salary floor for instance), but you are functionally allowed to spend up to $126.875M.
Jetsblog thanks to jetscap says we are 7.8 million under the cap. http://www.thejetsblog.com/2011/07/25/salary-cap-update-2010-dead-money-will-not-count/
You sure about that? I saw that you can sign veterans for up to 3 million dollars, which you can borrow against future cap numbers. Where did you see 6.5? Because that would obviously be beneficial to us.
Thats great news. With some restructuring and maybe cutting bt, we could have around 20 to 23 million to sign FA...plus the 6 million that can be used for veterans
We're currently almost 8 million under, restructure Sanchez save another 7-8, sign Harris save another 5, add in the 3 million cap bonus, and we'll have about 23 million in free space for Friday. If needed, we can cut LT, and BT and save another 6-7 million... Tanny will work his magic and create anywhere from 20-35 million in space by Friday...he'll be a player when free agency opens.
I posted this in the free agency thread but I guess I should have posted it here: Just out of curiosity, has Sanchez restructuring his contract been mentioned anywhere else besides fan websites? In fact, I think I remember Sanchez saying he WOULDN'T restructure his contract. I just don't get why so many people are betting on this like it's a sure thing and factoring it in to how much space we'll have come Friday.
There's no reason for Sanchez not to do it, it's not a pay cut. He gets future salary converted to bonus, reducing his cap hit but not costing him money.
I know that, but he's said he wouldn't do it when he was asked on Cowherd (I think that was it). And I haven't heard it mentioned anywhere other than here so I'm just wondering where the notion came from.
sanchez restructure I agree...the only place I've seen it is on fan sites. Until I see it from a real source, I won't believe it. That said, there are a hell of a lot of reports I've seen here first that have turned out to be true so I hope you guys are right!
I hope it's right too, but I'm not putting all my eggs in that basket like some people here are. People are factoring it into the equation like it was reported by Sanchez himself or something. Like I said, a lot of people are going to be pissed for buying into their own rumor when we don't have the extra $7-8 mil to spend.
I too am in the camp that doesn't think Sanchez will restructure, but he never said anything like that publicly. In fact he said the exact opposite, something like... I will do anything I can to bring back the players from last season.
Sanchez would be bat shit to not restructure. He'll get money up front while allowing him to have the best teammates possible.
