Michael Thomas agrees to restructured contract

Rugby Saint II · 07-16-2023, 01:01 PM

Michal Thomas has a lot to prove this year. He reworked his contract for less money and has an incentive laden contract this year. He is highly motivated to stay out of the hot tub. If anyone thinks he's not motivated or trying, then maybe they should read his contract details. If he's healthy, he can make good money and set himself up for a healthy contract next year. I doubt that Loomis will commit a lot of money to a third Thomas contract, but we'll see.

BakoSaint · 07-16-2023, 07:57 PM

Originally Posted by Rugby Saint II

Michal Thomas has a lot to prove this year. He reworked his contract for less money and has an incentive laden contract this year. He is highly motivated to stay out of the hot tub. If anyone thinks he's not motivated or trying, then maybe they should read his contract details. If he's healthy, he can make good money and set himself up for a healthy contract next year. I doubt that Loomis will commit a lot of money to a third Thomas contract, but we'll see.

I don’t agree with your assumptions. $10 million of Thomas’ 2023 salary is base salary, only 3.8 million is incentives, so ~75% of his money is base no incentives. He took a pay cut but it may be the smallest pay cut in history for a guy who has barely done his job in 4 years and way above market of what anyone would have offered him as a free agent. I think a more accurate way to look at it is that Thomas and his agent took Loomis for a ride like classic loan sharks. The Saints were desperate to get under the cap for 2023 and would sign anything to save $5-10 million on the 2023 cap. Thomas’ contract charges the Saints what is effectively exorbitant interest to borrow a few million toward the 2023. Not only do the Saints pay $10-14 million in new money for a year of a player who has missed 80% of his games the past 3 years, essentially valuing him at $54 million for a year if fully healthy, but the contract also sets up the Saints for a $18 million dead cap hit if they don’t restructure Thomas again and bring him back for 2024. Thomas and his agent know Loomis will be back in 2024 begging for another restructure even if Thomas doesn’t play a down. Loomis is basically like some sort of tennant farmer in debt to the company store and borrowing to make the payments, and if Thomas plays his cards right he has a lunch ticket for life even if he never plays another down.

mapcow · 07-19-2023, 10:03 AM

cut bait..... drop the dead weight, and chum the waters for a classier team player.

SaintFanInATLHELL · 07-19-2023, 11:27 AM

Originally Posted by mapcow

cut bait..... drop the dead weight, and chum the waters for a classier team player.

You do know that ship has already sailed off into the sunset months ago right? Continuing to ask for this post after post when it's clear the Saints have decided to do the opposite by negotiating a restructured contract with MT13 for 2023 is pretty counterproductive.

We can revisit what to do after this season. MT13 is a Saint for 2023. All we can hope now is that he is healthy and productive as a member of the 2023 squad.

SFIAH

Rugby Saint II · 07-19-2023, 05:22 PM

Originally Posted by SaintFanInATLHELL

You do know that ship has already sailed off into the sunset months ago right? Continuing to ask for this post after post when it's clear the Saints have decided to do the opposite by negotiating a restructured contract with MT13 for 2023 is pretty counterproductive.

We can revisit what to do after this season. MT13 is a Saint for 2023. All we can hope now is that he is healthy and productive as a member of the 2023 squad.

SFIAH

True Dat!

Crusader · 07-25-2023, 02:10 AM

SmashMouth · 07-25-2023, 08:49 AM

Originally Posted by Crusader

https://twitter.com/nick_underhill/s...40109139128321

K Major · 07-25-2023, 02:35 PM

Originally Posted by Crusader

https://twitter.com/nick_underhill/s...40109139128321

mapcow · 07-25-2023, 12:49 PM

Originally Posted by SaintFanInATLHELL

You do know that ship has already sailed off into the sunset months ago right? Continuing to ask for this post after post when it's clear the Saints have decided to do the opposite by negotiating a restructured contract with MT13 for 2023 is pretty counterproductive.

We can revisit what to do after this season. MT13 is a Saint for 2023. All we can hope now is that he is healthy and productive as a member of the 2023 squad.

SFIAH

....

cut bait... lose the prima donna

productive .....

Boston Saint · 07-25-2023, 01:29 PM

Originally Posted by mapcow

....

cut bait... lose the prima donna

productive .....

Good point …🧐

07-16-2023, 01:01 PM	#1
Rugby Saint II Bounty Money $$$ Join Date: Oct 2008 Location: 5800 Airline Dr. Metairie, LA. Posts: 24,167	Re: Michael Thomas agrees to restructured contract Michal Thomas has a lot to prove this year. He reworked his contract for less money and has an incentive laden contract this year. He is highly motivated to stay out of the hot tub. If anyone thinks he's not motivated or trying, then maybe they should read his contract details. If he's healthy, he can make good money and set himself up for a healthy contract next year. I doubt that Loomis will commit a lot of money to a third Thomas contract, but we'll see.

07-16-2023, 07:57 PM	#2
BakoSaint 1000 Posts + Join Date: Dec 2018 Posts: 2,400	Re: Michael Thomas agrees to restructured contract Originally Posted by Rugby Saint II Michal Thomas has a lot to prove this year. He reworked his contract for less money and has an incentive laden contract this year. He is highly motivated to stay out of the hot tub. If anyone thinks he's not motivated or trying, then maybe they should read his contract details. If he's healthy, he can make good money and set himself up for a healthy contract next year. I doubt that Loomis will commit a lot of money to a third Thomas contract, but we'll see. I don’t agree with your assumptions. $10 million of Thomas’ 2023 salary is base salary, only 3.8 million is incentives, so ~75% of his money is base no incentives. He took a pay cut but it may be the smallest pay cut in history for a guy who has barely done his job in 4 years and way above market of what anyone would have offered him as a free agent. I think a more accurate way to look at it is that Thomas and his agent took Loomis for a ride like classic loan sharks. The Saints were desperate to get under the cap for 2023 and would sign anything to save $5-10 million on the 2023 cap. Thomas’ contract charges the Saints what is effectively exorbitant interest to borrow a few million toward the 2023. Not only do the Saints pay $10-14 million in new money for a year of a player who has missed 80% of his games the past 3 years, essentially valuing him at $54 million for a year if fully healthy, but the contract also sets up the Saints for a $18 million dead cap hit if they don’t restructure Thomas again and bring him back for 2024. Thomas and his agent know Loomis will be back in 2024 begging for another restructure even if Thomas doesn’t play a down. Loomis is basically like some sort of tennant farmer in debt to the company store and borrowing to make the payments, and if Thomas plays his cards right he has a lunch ticket for life even if he never plays another down.
BakoSaint 1000 Posts + Join Date: Dec 2018 Posts: 2,400

07-19-2023, 10:03 AM	#3
mapcow Just a Fan Join Date: Nov 2009 Posts: 1,819	Re: Michael Thomas agrees to restructured contract cut bait..... drop the dead weight, and chum the waters for a classier team player.
mapcow Just a Fan Join Date: Nov 2009 Posts: 1,819

07-19-2023, 11:27 AM	#4
SaintFanInATLHELL The Professor Join Date: Oct 2003 Location: Lithonia, GA Posts: 2,783	Re: Michael Thomas agrees to restructured contract Originally Posted by mapcow cut bait..... drop the dead weight, and chum the waters for a classier team player. You do know that ship has already sailed off into the sunset months ago right? Continuing to ask for this post after post when it's clear the Saints have decided to do the opposite by negotiating a restructured contract with MT13 for 2023 is pretty counterproductive. We can revisit what to do after this season. MT13 is a Saint for 2023. All we can hope now is that he is healthy and productive as a member of the 2023 squad. SFIAH

07-19-2023, 05:22 PM	#5
Rugby Saint II Bounty Money $$$ Join Date: Oct 2008 Location: 5800 Airline Dr. Metairie, LA. Posts: 24,167	Re: Michael Thomas agrees to restructured contract Originally Posted by SaintFanInATLHELL You do know that ship has already sailed off into the sunset months ago right? Continuing to ask for this post after post when it's clear the Saints have decided to do the opposite by negotiating a restructured contract with MT13 for 2023 is pretty counterproductive. We can revisit what to do after this season. MT13 is a Saint for 2023. All we can hope now is that he is healthy and productive as a member of the 2023 squad. SFIAH True Dat!

07-25-2023, 02:10 AM	#6
Crusader Resident Swede Join Date: Sep 2005 Location: Märsta, Sweden Posts: 8,049	Re: Michael Thomas agrees to restructured contract Twitter

07-25-2023, 08:49 AM	#7
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 38,927 Blog Entries: 29	Re: Michael Thomas agrees to restructured contract Originally Posted by Crusader https://twitter.com/nick_underhill/s...40109139128321

07-25-2023, 02:35 PM	#8
K Major Site Donor 2019 Join Date: Jan 2013 Location: Bedford, TX Posts: 24,838 Blog Entries: 3	Re: Michael Thomas agrees to restructured contract Originally Posted by Crusader https://twitter.com/nick_underhill/s...40109139128321

07-25-2023, 12:49 PM	#9
mapcow Just a Fan Join Date: Nov 2009 Posts: 1,819	Re: Michael Thomas agrees to restructured contract Originally Posted by SaintFanInATLHELL You do know that ship has already sailed off into the sunset months ago right? Continuing to ask for this post after post when it's clear the Saints have decided to do the opposite by negotiating a restructured contract with MT13 for 2023 is pretty counterproductive. We can revisit what to do after this season. MT13 is a Saint for 2023. All we can hope now is that he is healthy and productive as a member of the 2023 squad. SFIAH .... cut bait... lose the prima donna productive .....
mapcow Just a Fan Join Date: Nov 2009 Posts: 1,819

07-25-2023, 01:29 PM	#10
Boston Saint 5000 POSTS! + Join Date: Nov 2020 Location: Massachusetts Posts: 5,137	Re: Michael Thomas agrees to restructured contract Originally Posted by mapcow .... cut bait... lose the prima donna productive ..... Good point …🧐