hmmm ok i was under the impression that any bonus money is counted against the cap in equal portions every year of the contract, if the contract is terminated before the end all of the remaining bonus money comes forward and is counted against that years cap. thats how i figured the 9.85 million if he were cut. i havent ever heard about it continuing to count against the cap for the next 3 years if he is no longer under contract with the jets. can anyone give us some clarity on this issue?
Got this from GM's thread about Pennington: "If the Jets cut Pennington in late August or early September, they’ll pick up $6 million in 2008 cap space and will owe him nothing."
I have heard that before but it makes no sense. When you sign a contract, it has to include guarantee money. That money has to be paid regardless of what happens (player retiring might be the only possible way out for the team-maybe). CP signed a $23M guarantee contract. $2M was signing bonus. $21M divided over 7 yrs. $3M every year. My recent findings tell me that CP will count $12M against the salary this year if the rotoworld had the correct contract figures. If a player is released before June 1st, his entire remaining signing bonus accelerates to that yrs salary and counts against it. If we release CP this yr, he will cost us $3M EXTRA plus the money we will pay another QB for backup. How do we get that $3M? He will count $9M against our cap this yr. Releasing him will result an acceleration of $12M to this yrs cap. Hence, not only we lose his services, we also pay an EXTRA $3M. He counts for nothing against our salary cap afterwards. The only problem is, CP restructured his contract couple years ago to be cap friendly. Whatever contract he may have signed, signing bonus will stay as initially signed. Wanna get the facts why CP HAS to remain a Jet. Go to: atlantafalcons.com/People/Fans/Salary_Cap_101/Signing_Bonus.aspx Im satisfied becuase this means CP will be a JET at every cost next yr unless our CS and FO goes crazy.
I will reach that 50 by the end of the weekend and then maybe post a few more links for others to share.
The problem being is that the contract everybody is talking about is his reworked contract. I remember that Chad signed a $63 million contract with $18 or $20 signing bonus that the Jets were choking on when he got hurt two years in a row. How was that signing bonus accounted for in the new contract? I believe Jets n Boys is right and that it will be a $12 million cap hit if Chad is released.
