Saints lose $4.5M in 2017 salary cap space after paying back NFL loan

SmashMouth · 03-28-2017, 04:14 PM

The New Orleans Saints just lost a chunk of salary cap space and it had nothing to do with signing a free agent, acquiring a new player or extending someone’s contract. On Monday, the league accounted for repayment of cap space loans given to multiple NFL teams at the onset of the new collective bargaining agreement (CBA) during the 2011 offseason. Due to the murky waters surrounding the uncapped season and new terms in the CBA, the NFL allowed teams to borrow up to $3 million towards their 2011 cap and another $1.5 million towards their 2012 cap. The Saints took both loans up to the maximum amount, $4.5 million total.

No, the Saints didn’t do this because they were broke. It appears only 9 of the 32 NFL clubs did not take out some sort of cap space loan over the course of the 2011 and 2012 offseasons.

The reconciliation shrunk the Saints 2017 space, per the NFLPA, from $12,710,725 on Monday to $8,210,725 on Tuesday’s report.

There are currently 23 teams with more salary cap space remaining than the Saints.

Link back to USA Today

RaginCajun83 · 03-28-2017, 05:02 PM

was that with interest?

AsylumGuido · 03-28-2017, 05:07 PM

Most likely the reason for exercising the roster to bonus option on Armstead's contract. Loomis had to know this was going to hit the books. The guy is good at his job.

spkb25 · 03-28-2017, 08:09 PM

Originally Posted by AsylumGuido

Most likely the reason for exercising the roster to bonus option on Armstead's contract. Loomis had to know this was going to hit the books. The guy is good at his job.

not that good, we have 4 out of 5 seasons at 7-9 and maxed on cap.

burningmetal · 03-28-2017, 10:24 PM

Originally Posted by AsylumGuido

Most likely the reason for exercising the roster to bonus option on Armstead's contract. Loomis had to know this was going to hit the books. The guy is good at his job.

You think Loomis just magically predicted that? I'm sure all teams who had to pay back a loan were informed that it was going to happen.

Loomis is not a genius. This is very basic stuff.

hagan714 · 03-28-2017, 11:18 PM

easy come easy go

voodooido · 03-29-2017, 04:08 AM

Well, with only 8 million left I just cant see Butler comig here. unless the contract is back loaded it would cost us 8 million just for him. I know we will be freeing up 7 June 1st but we need 8 million just to sign our draaft picks.

SmashMouth · 03-29-2017, 07:19 AM

Originally Posted by voodooido

Well, with only 8 million left I just cant see Butler comig here. unless the contract is back loaded it would cost us 8 million just for him. I know we will be freeing up 7 June 1st but we need 8 million just to sign our draaft picks.

You mean our salary cap is tighter than expected?

NeauxFW...

neugey · 03-29-2017, 08:12 AM

We lost 4.5 million? Where's our tax return man?

AsylumGuido · 03-29-2017, 08:23 AM

Originally Posted by spkb25

not that good, we have 4 out of 5 seasons at 7-9 and maxed on cap.

That's not on Loomis at all. Those bad moves are Payton related. Loomis is basically told to make Payton's desired moves possible within the cap. Not many GM's could have been able to manipulate the cap in that manner.

03-28-2017, 04:14 PM	#1
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 36,958 Blog Entries: 29	Saints lose $4.5M in 2017 salary cap space after paying back NFL loan The New Orleans Saints just lost a chunk of salary cap space and it had nothing to do with signing a free agent, acquiring a new player or extending someone’s contract. On Monday, the league accounted for repayment of cap space loans given to multiple NFL teams at the onset of the new collective bargaining agreement (CBA) during the 2011 offseason. Due to the murky waters surrounding the uncapped season and new terms in the CBA, the NFL allowed teams to borrow up to $3 million towards their 2011 cap and another $1.5 million towards their 2012 cap. The Saints took both loans up to the maximum amount, $4.5 million total. No, the Saints didn’t do this because they were broke. It appears only 9 of the 32 NFL clubs did not take out some sort of cap space loan over the course of the 2011 and 2012 offseasons. The reconciliation shrunk the Saints 2017 space, per the NFLPA, from $12,710,725 on Monday to $8,210,725 on Tuesday’s report. There are currently 23 teams with more salary cap space remaining than the Saints. Link back to USA Today

03-28-2017, 05:02 PM	#2
RaginCajun83 Hou Saints Fan Join Date: Sep 2009 Location: Houston, Tx Posts: 5,050	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan was that with interest?

03-28-2017, 05:07 PM	#3
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 24,391	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan Most likely the reason for exercising the roster to bonus option on Armstead's contract. Loomis had to know this was going to hit the books. The guy is good at his job. ChrisXVI likes this.

03-28-2017, 08:09 PM	#4
spkb25 10000 POST CLUB Join Date: Aug 2004 Location: Baltimore, MD Posts: 13,057	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan Originally Posted by AsylumGuido Most likely the reason for exercising the roster to bonus option on Armstead's contract. Loomis had to know this was going to hit the books. The guy is good at his job. not that good, we have 4 out of 5 seasons at 7-9 and maxed on cap.

03-28-2017, 10:24 PM	#5
burningmetal 1000 Posts + Join Date: Mar 2012 Posts: 3,905 Blog Entries: 3	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan Originally Posted by AsylumGuido Most likely the reason for exercising the roster to bonus option on Armstead's contract. Loomis had to know this was going to hit the books. The guy is good at his job. You think Loomis just magically predicted that? I'm sure all teams who had to pay back a loan were informed that it was going to happen. Loomis is not a genius. This is very basic stuff.

Latest Blogs
2023 New Orleans Saints: Training Camp Last Blog: 08-01-2023 By: MarchingOn Puck the Fro Browl! Last Blog: 02-05-2023 By: neugey CFP: "Just Keep Doing What You're Doing" Last Blog: 12-08-2022 By: neugey

03-28-2017, 11:18 PM	#6
hagan714 LB Mentallity Join Date: Dec 2005 Posts: 15,870 Blog Entries: 68	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan easy come easy go

03-29-2017, 04:08 AM	#7
voodooido 1000 Posts + Join Date: Oct 2009 Posts: 2,739	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan Well, with only 8 million left I just cant see Butler comig here. unless the contract is back loaded it would cost us 8 million just for him. I know we will be freeing up 7 June 1st but we need 8 million just to sign our draaft picks. SmashMouth likes this.
voodooido 1000 Posts + Join Date: Oct 2009 Posts: 2,739

03-29-2017, 07:19 AM	#8
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 36,958 Blog Entries: 29	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan Originally Posted by voodooido Well, with only 8 million left I just cant see Butler comig here. unless the contract is back loaded it would cost us 8 million just for him. I know we will be freeing up 7 June 1st but we need 8 million just to sign our draaft picks. You mean our salary cap is tighter than expected? NeauxFW...

03-29-2017, 08:12 AM	#9
neugey Hu Dat! Join Date: Dec 2004 Posts: 6,590 Blog Entries: 13	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan We lost 4.5 million? Where's our tax return man?

03-29-2017, 08:23 AM	#10
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 24,391	Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan Originally Posted by spkb25 not that good, we have 4 out of 5 seasons at 7-9 and maxed on cap. That's not on Loomis at all. Those bad moves are Payton related. Loomis is basically told to make Payton's desired moves possible within the cap. Not many GM's could have been able to manipulate the cap in that manner.

LinkBacks (?) LinkBack to this Thread: https://blackandgold.com/saints/82157-saints-lose-4-5m-2017-salary-cap-space-after-paying-back-nfl.html
Posted By	For	Type	Date	Hits
The Latest NFL News \| SportSpyder	This thread	Refback	03-28-2017 04:22 PM	1