Saints restructure Marshon Lattimore’s deal to make room for their draft class

TheOak · 06-10-2021, 10:33 AM

I didn't see this topic posted

The move converts the $10.2 million of Lattimore’s fifth-year option to a $990,000 base salary with the rest as a roster bonus with voidable years. It frees up $7.4 million in salary cap space.

The sides will continue to work on a long-term extension, according to Rapoport.

Read More
https://profootballtalk.nbcsports.co...r-draft-class/

voodooido · 06-10-2021, 11:17 AM

Saints have the upper hand in this one. With his case pending no one will be willing to give him top cb money

st thomas · 06-10-2021, 12:58 PM

Mickey makes money like a magic man,we broke we rich

Sent from my iPhone using Tapatalk

SaintFanInATLHELL · 06-10-2021, 07:21 PM

Nothing magic about it. Salary always counts against the current year's cap. Bonus money is spread over the contract time, even if the years are voidable.

Loomis is the master of charging current money against the future cap increases credit card. The cap in 2022 is projected to be $26 million dollars more than the current cap. By setting 4 voidable years, Lattimore's cap number for 2021 drops to $3 million ($1 million salary + $9 million/5 ($1.8 million) for the bonus slice for 2021) from $10 million. The $7 million remaning will be charged against the cap next year. Or more likely, It'll be rolled into an extension for Lattimore. All this works for Lattimore as he gets $9 million now instead of having to wait for it to be paid out in game checks during the season.

The interesting part of the deal, as explained by Field Yates, is that the voidable years was set with 4 years and $120 million. While that's Monopoly money since the years are void, it's important because an restructure within a calendar year cannot include a salary increase. By setting a $30 million/year cap, which is 50% more than the current highest paid CB in the league, the Saints have set up to extend Lattimore with big dollars next year while moving his money around this year.

But in the end it's little difference than how lots of people handle their finances. If you have no current cash, a $26 million credit card, and the need to purchase something now (like signing draft picks), you just put that item on the credit card now and pay it off later when more cash comes in.

SFIAH

Rugby Saint II · 06-12-2021, 03:42 PM

Restructure then extend the man without paying too much. The wheels are beginning to move now. It's all down hill from here.

06-10-2021, 10:33 AM	#1
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,027	Saints restructure Marshon Lattimore’s deal to make room for their draft class I didn't see this topic posted The move converts the $10.2 million of Lattimore’s fifth-year option to a $990,000 base salary with the rest as a roster bonus with voidable years. It frees up $7.4 million in salary cap space. The sides will continue to work on a long-term extension, according to Rapoport. Read More https://profootballtalk.nbcsports.co...r-draft-class/ SmashMouth and Boston Saint like this.

06-10-2021, 11:17 AM	#2
voodooido 1000 Posts + Join Date: Oct 2009 Posts: 2,770	Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class Saints have the upper hand in this one. With his case pending no one will be willing to give him top cb money
voodooido 1000 Posts + Join Date: Oct 2009 Posts: 2,770

06-10-2021, 12:58 PM	#3
st thomas Site Donor 2018 Join Date: Dec 2009 Location: lafayette Posts: 7,753	Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class Mickey makes money like a magic man,we broke we rich Sent from my iPhone using Tapatalk saintfan and Rugby Saint II like this.

06-10-2021, 07:21 PM	#4
SaintFanInATLHELL The Professor Join Date: Oct 2003 Location: Lithonia, GA Posts: 2,776	Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class Nothing magic about it. Salary always counts against the current year's cap. Bonus money is spread over the contract time, even if the years are voidable. Loomis is the master of charging current money against the future cap increases credit card. The cap in 2022 is projected to be $26 million dollars more than the current cap. By setting 4 voidable years, Lattimore's cap number for 2021 drops to $3 million ($1 million salary + $9 million/5 ($1.8 million) for the bonus slice for 2021) from $10 million. The $7 million remaning will be charged against the cap next year. Or more likely, It'll be rolled into an extension for Lattimore. All this works for Lattimore as he gets $9 million now instead of having to wait for it to be paid out in game checks during the season. The interesting part of the deal, as explained by Field Yates, is that the voidable years was set with 4 years and $120 million. While that's Monopoly money since the years are void, it's important because an restructure within a calendar year cannot include a salary increase. By setting a $30 million/year cap, which is 50% more than the current highest paid CB in the league, the Saints have set up to extend Lattimore with big dollars next year while moving his money around this year. But in the end it's little difference than how lots of people handle their finances. If you have no current cash, a $26 million credit card, and the need to purchase something now (like signing draft picks), you just put that item on the credit card now and pay it off later when more cash comes in. SFIAH
	Super Bowl Championships: New Orleans Saints:1, Carolina:0, Atlanta Chokers: STILL ZERO Only Atlanta choked in an unchokable situation... Life is definitely good.

06-12-2021, 03:42 PM	#5
Rugby Saint II Bounty Money $$$ Join Date: Oct 2008 Location: 5800 Airline Dr. Metairie, LA. Posts: 24,073	Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class Restructure then extend the man without paying too much. The wheels are beginning to move now. It's all down hill from here.

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