2022 NFL Free Agency: New Orleans Saints

xan · 01-12-2021, 01:44 PM

What if:

Drew restructures his contract for 2021, doesn't show up for pre-season, suits up for Game 1, walks onto the field as starter, walks off after 1 play and retires?

TheOak · 01-12-2021, 01:46 PM

Originally Posted by AsylumGuido

The $22.65 million is signing bonus already paid and has to be accounted for. That's the dead money we are talking about. Are you confusing the $25 million in base salary contracted for 2021? That CAN be restructured IF he returns and plays. If not it isn't on the books at all.

Drew Brees Spotrac

You are correct in that only $25 million of the contract signed in 2020 was guaranteed, but you are omitting the $4.25M of salary and an $11.95M roster bonus converted into a signing bonus in 2019 and prorated out, a portion of which is still included in the dead money.

It’s $23.65 and has already been accounted for in the 2020 Cap hit because that’s when it was paid out... know what... phuck it, you are a mess to talk to.
Believe what you wish.

AsylumGuido · 01-12-2021, 03:19 PM

Originally Posted by xan

What if:

Drew restructures his contract for 2021, doesn't show up for pre-season, suits up for Game 1, walks onto the field as starter, walks off after 1 play and retires?

Half the sunken guarantee must be included in the 2021 cap and the other half in 2022. The same scenario as if he was a post June 1st cut.

2021 Dead Cap: $11,150,000
2022 Dead Cap: $11,500,000

AsylumGuido · 01-12-2021, 03:35 PM

Originally Posted by TheOak

It’s $23.65 and has already been accounted for in the 2020 Cap hit because that’s when it was paid out... know what... phuck it, you are a mess to talk to.
Believe what you wish.

It is prorated signing bonus. It is NOT accounted for when paid out. That's the whole reason why they converted the 2019 base salary and roster bonus to a signing bonus and the same reason why they included a $25 million signing bonus in the 2020 contract ... so it could be paid in full up front, yet accounted for on a prorated basis partially in later years.

If a player signs a five year contract with $75 million signing bonus they are given a check for that $75 million either at the time of signing or sometime during the initial season (depending upon which is negotiated, but it has to be paid up front regardless). However, only $15 million is accounted for in that first year's cap even though it was all paid in that first year. The remainder is spread out over the remainder of the contract meaning $15 million will go to each year of the final four years, unless the player is cut, traded or retires, then the remainder is to be accounted for at that time.

I know what I'm talk about. It's not something I believe because I wish. It is the way NFL contracts work. Look at the link I provided. It shows the $22.65 million in dead cap for 2021 if Brees is cut, traded, or retires and how it is accounted for. That's all money Brees has already been paid, yet not yet accounted for in the books.

PRE-6/1 RELEASE

2021 Dead Cap: $22,650,000

2021 Cap Savings: $13,500,000

PRE-6/1 TRADE

2021 Dead Cap: $22,650,000

2021 Cap Savings: $13,500,000

POST-6/1 RELEASE

2021 Dead Cap: $11,150,000

2022 Dead Cap: $11,500,000

2021 Cap Savings: $25,000,000

POST-6/1 TRADE

2021 Dead Cap: $11,150,000

2022 Dead Cap: $11,500,000

2021 Cap Savings: $25,000,000

st thomas · 01-12-2021, 04:09 PM

How bout let the goat play another season. We’ll all be happy , not ready for prime time Hill just yet.

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AsylumGuido · 01-12-2021, 04:14 PM

Originally Posted by st thomas

How bout let the goat play another season. We’ll all be happy , not ready for prime time Hill just yet.

Sent from my iPhone using Tapatalk

That's all up to him. Loomis said Brees is welcome to return, but nobody will know for sure until a few weeks after the season is over. That was on a news brief on NFL Radio this morning.

blackangold · 01-12-2021, 05:50 PM

Even with Drew's post June 1st retirement, we are still in trouble with the cap. TV revenue declined in a big way and obviously stadium revenue is gone...

Honestly not sure how Loomis will do it and field a competitive team next year. After this year its rebuilding for at least 2-3 years.

Edit:
I went to OTC and played with the 2021 cap... turns out we only need to cut $95m off of the cap. No big deal, I just post June 1st cut the top 10 players and we are good to go.

jeanpierre · 01-12-2021, 06:11 PM

Originally Posted by AsylumGuido

The $22.65 million is signing bonus already paid and has to be accounted for. That's the dead money we are talking about. Are you confusing the $25 million in base salary contracted for 2021? That CAN be restructured IF he returns and plays. If not it isn't on the books at all.

Drew Brees Spotrac

You are correct in that only $25 million of the contract signed in 2020 was guaranteed, but you are omitting the $4.25M of salary and an $11.95M roster bonus converted into a signing bonus in 2019 and prorated out, a portion of which is still included in the dead money.

Was the signing bonus paid in full, or was it pro-rated?

According to Over the Cap (source: https://overthecap.com/player/drew-brees/1492/), Brees' contract shows pro-rated bonus (and dead cap money figures), of...

$11.15M in 2021

$5.75M in 2022

$5.75M in 2023

...if he's cut after 1 June 2021 this summer...

jeanpierre · 01-12-2021, 06:35 PM

Originally Posted by blackangold

Even with Drew's post June 1st retirement, we are still in trouble with the cap. TV revenue declined in a big way and obviously stadium revenue is gone...

Honestly not sure how Loomis will do it and field a competitive team next year. After this year its rebuilding for at least 2-3 years.

Edit:
I went to OTC and played with the 2021 cap... turns out we only need to cut $95m off of the cap. No big deal, I just post June 1st cut the top 10 players and we are good to go.

And this was the point I was making, I could see some players traded or cut:

Andrus Peat could be traded this summer (after 1 June) for a sixth round pick and save $9M vs the cap...
Terron Armstead would have to cut with a post 1 June date or traded after that date to save $11.75M...
Cam Jordan, also a post 1 June move of trade or cut, would save $13.9M...
Drew Brees in a post 1 June move would save the most at $25M...
Nick Easton could be traded or cut before Jun 1 and save $6M, $6.5M after 1 Jun (though I think his career being over is a foregone conclusion, i.e. multiple concussions)...
Thomas Morstead would save $3.5M in a post 1 Jun move...
Malcolm Jenkins traded after 1 Jun would recover $6.2M in space...
Janoris Jenkins, post 1 Jun cut would save $10M...
Kwon Alexander pre/post Jun 1 cut would save $13.4M...
Tre'Quan Smith pre/post Jun 1 cut would save $0.92M...

And don't forget, we'll have Trey Hendrickson, Alex Anzalone as free agents; in addition, we could extend, re-sign, restructure Ramczyk and Lattimore's contracts who will be in their team-option year...

st thomas · 01-12-2021, 08:57 PM

Keep trequon and dump the rest ah!

Sent from my iPhone using Tapatalk

01-12-2021, 01:44 PM	#21
xan Professor Crab and Site Donor 2014 Join Date: Oct 2004 Location: Princeton Posts: 3,371 Blog Entries: 34	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints What if: Drew restructures his contract for 2021, doesn't show up for pre-season, suits up for Game 1, walks onto the field as starter, walks off after 1 play and retires?

01-12-2021, 01:46 PM	#22
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,027	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints Originally Posted by AsylumGuido The $22.65 million is signing bonus already paid and has to be accounted for. That's the dead money we are talking about. Are you confusing the $25 million in base salary contracted for 2021? That CAN be restructured IF he returns and plays. If not it isn't on the books at all. Drew Brees Spotrac You are correct in that only $25 million of the contract signed in 2020 was guaranteed, but you are omitting the $4.25M of salary and an $11.95M roster bonus converted into a signing bonus in 2019 and prorated out, a portion of which is still included in the dead money. It’s $23.65 and has already been accounted for in the 2020 Cap hit because that’s when it was paid out... know what... phuck it, you are a mess to talk to. Believe what you wish.

01-12-2021, 03:19 PM	#23
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 26,274	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints Originally Posted by xan What if: Drew restructures his contract for 2021, doesn't show up for pre-season, suits up for Game 1, walks onto the field as starter, walks off after 1 play and retires? Half the sunken guarantee must be included in the 2021 cap and the other half in 2022. The same scenario as if he was a post June 1st cut. 2021 Dead Cap: $11,150,000 2022 Dead Cap: $11,500,000

01-12-2021, 04:09 PM	#25
st thomas Site Donor 2018 Join Date: Dec 2009 Location: lafayette Posts: 7,753	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints How bout let the goat play another season. We’ll all be happy , not ready for prime time Hill just yet. Sent from my iPhone using Tapatalk Thirty3 likes this.

01-12-2021, 04:14 PM	#26
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 26,274	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints Originally Posted by st thomas How bout let the goat play another season. We’ll all be happy , not ready for prime time Hill just yet. Sent from my iPhone using Tapatalk That's all up to him. Loomis said Brees is welcome to return, but nobody will know for sure until a few weeks after the season is over. That was on a news brief on NFL Radio this morning.

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01-12-2021, 05:50 PM	#27
blackangold 1000 Posts + Join Date: Aug 2011 Posts: 3,422	Re: 2021 NFL Free Agency: New Orleans Saints Even with Drew's post June 1st retirement, we are still in trouble with the cap. TV revenue declined in a big way and obviously stadium revenue is gone... Honestly not sure how Loomis will do it and field a competitive team next year. After this year its rebuilding for at least 2-3 years. Edit: I went to OTC and played with the 2021 cap... turns out we only need to cut $95m off of the cap. No big deal, I just post June 1st cut the top 10 players and we are good to go. jeanpierre and TheOak like this.

01-12-2021, 06:11 PM	#28
jeanpierre Site Donor 2018 Join Date: Mar 2008 Location: Thibodaux Posts: 43,543 Blog Entries: 39	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints Originally Posted by AsylumGuido The $22.65 million is signing bonus already paid and has to be accounted for. That's the dead money we are talking about. Are you confusing the $25 million in base salary contracted for 2021? That CAN be restructured IF he returns and plays. If not it isn't on the books at all. Drew Brees Spotrac You are correct in that only $25 million of the contract signed in 2020 was guaranteed, but you are omitting the $4.25M of salary and an $11.95M roster bonus converted into a signing bonus in 2019 and prorated out, a portion of which is still included in the dead money. Was the signing bonus paid in full, or was it pro-rated? According to Over the Cap (source: https://overthecap.com/player/drew-brees/1492/), Brees' contract shows pro-rated bonus (and dead cap money figures), of... $11.15M in 2021 $5.75M in 2022 $5.75M in 2023 ...if he's cut after 1 June 2021 this summer...

01-12-2021, 06:35 PM	#29
jeanpierre Site Donor 2018 Join Date: Mar 2008 Location: Thibodaux Posts: 43,543 Blog Entries: 39	Re: 2021 NFL Free Agency: New Orleans Saints Originally Posted by blackangold Even with Drew's post June 1st retirement, we are still in trouble with the cap. TV revenue declined in a big way and obviously stadium revenue is gone... Honestly not sure how Loomis will do it and field a competitive team next year. After this year its rebuilding for at least 2-3 years. Edit: I went to OTC and played with the 2021 cap... turns out we only need to cut $95m off of the cap. No big deal, I just post June 1st cut the top 10 players and we are good to go. And this was the point I was making, I could see some players traded or cut: Andrus Peat could be traded this summer (after 1 June) for a sixth round pick and save $9M vs the cap... Terron Armstead would have to cut with a post 1 June date or traded after that date to save $11.75M... Cam Jordan, also a post 1 June move of trade or cut, would save $13.9M... Drew Brees in a post 1 June move would save the most at $25M... Nick Easton could be traded or cut before Jun 1 and save $6M, $6.5M after 1 Jun (though I think his career being over is a foregone conclusion, i.e. multiple concussions)... Thomas Morstead would save $3.5M in a post 1 Jun move... Malcolm Jenkins traded after 1 Jun would recover $6.2M in space... Janoris Jenkins, post 1 Jun cut would save $10M... Kwon Alexander pre/post Jun 1 cut would save $13.4M... Tre'Quan Smith pre/post Jun 1 cut would save $0.92M... And don't forget, we'll have Trey Hendrickson, Alex Anzalone as free agents; in addition, we could extend, re-sign, restructure Ramczyk and Lattimore's contracts who will be in their team-option year...
	It's not that my way is the right way, I just make the right way my way...

01-12-2021, 08:57 PM	#30
st thomas Site Donor 2018 Join Date: Dec 2009 Location: lafayette Posts: 7,753	Re: 2021 NFL Free Agency: New Orleans Saints Keep trequon and dump the rest ah! Sent from my iPhone using Tapatalk