2022 NFL Free Agency: New Orleans Saints

TheOak · 01-12-2021, 11:54 AM

Originally Posted by AsylumGuido

It doesn't matter if it is a trade or not. The league still has to approve of ALL contracts. Brees has already received the cash for those guarantees remaining on his current contract. What I was trying to point out is that even if there was some sort of way to convert the guarantees which were the result of signing bonuses into some sort of incentive (which I still believe couldn't be done), then the league would surely disallow the contract. The sign and trade scenarios were just examples of cap manipulative contracts denied by the league.

I repeat, Brees has already cashed those checks. The remaining guarantees are the accounting offsets for the payments already received. There's no way the league would allow them to just go away.

The only way to make those guarantees leave the books would be if Brees paid the Saints back $22.5 million in cash. If that would even be allowed I can't see that happening either.

Prove he cashed those checks, show the check with the deposit receipt, or have a seat.

Only $25M was guaranteed and the remaining $25M is 2021 money not guaranteed and uncashed as a check.

AsylumGuido · 01-12-2021, 12:07 PM

Originally Posted by TheOak

Prove he cashed those checks, show the check with the deposit receipt, or have a seat.

Only $25M was guaranteed and the remaining $25M is 2021 money not guaranteed and uncashed as a check.

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.

TheOak · 01-12-2021, 12:46 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, 02:35 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

jeanpierre · 01-12-2021, 05:11 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...

01-12-2021, 11:54 AM	#1
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,050	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints Originally Posted by AsylumGuido It doesn't matter if it is a trade or not. The league still has to approve of ALL contracts. Brees has already received the cash for those guarantees remaining on his current contract. What I was trying to point out is that even if there was some sort of way to convert the guarantees which were the result of signing bonuses into some sort of incentive (which I still believe couldn't be done), then the league would surely disallow the contract. The sign and trade scenarios were just examples of cap manipulative contracts denied by the league. I repeat, Brees has already cashed those checks. The remaining guarantees are the accounting offsets for the payments already received. There's no way the league would allow them to just go away. The only way to make those guarantees leave the books would be if Brees paid the Saints back $22.5 million in cash. If that would even be allowed I can't see that happening either. Prove he cashed those checks, show the check with the deposit receipt, or have a seat. Only $25M was guaranteed and the remaining $25M is 2021 money not guaranteed and uncashed as a check.

01-12-2021, 12:07 PM	#2
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 26,677	Re: 1 Attachment(s) You are subscribed to this thread 2021 NFL Free Agency: New Orleans Saints Originally Posted by TheOak Prove he cashed those checks, show the check with the deposit receipt, or have a seat. Only $25M was guaranteed and the remaining $25M is 2021 money not guaranteed and uncashed as a check. 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.
	“The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty.” — Winston Churchill

01-12-2021, 12:46 PM	#3
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,050	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, 05:11 PM	#5
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...

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