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RE: SALARY CAP THREAD

Jags02 — Fri, 29 Aug 2008 21:06:50 GMT

There's quite a bit I need to go over before accouting for the upcoming cutdown to the final 53. First, in this reply, I'll cover the recent roster moves. And then, when I find a little more time, I have a number of adjustments to make based on some newly received info for several players, including a better understanding of some of their incentives.

In the cutdown to 75, the Jaguars released Broussard, J. Harvey, Edwards, Smolko and Boston. The day before the cut-down, the Jaguars signed RB Ciatrick Fason and waived G Chris Liwienski. More recently they signed Derrick Harvey who carried a roster exemption up until Thursday when they activated him and placed Wrighster on their Regular Season PUP list.

As waived UDFAs, Jeron Harvey, Edwards and Boston each carry a small dead money hit. I'm estimating $2,500 each with them counting another $5,000 dead money in '09. Smolko and Liwienski likely signed with no bonus meaning no dead money hit, but Broussard left the Jaguars with a $12,462 dead money hit this year and a $24,924 dead money hit next year. None of these players were among the 51st most expensive, so these moves had no effect on the cap.

Fason, who worked out with the Jaguars early this offseason, was signed to a one-year minimum dead at the $445,000 rate and presumably no bonus. Since the 51st most expensive player also costs $445,000, the signing does not alter their cap. Wrighster will continue to count his $875,000 cap hit while on PUP.

The Jaguars remain at $13.56 mil under the cap after these moves, but now there's Derrick Harvey's signing to consider. We don't yet have all the details since the nflpa hasn't updated his base salary info, but what I need to do is figure out his cap hit for this year so I can complete my spreadsheet. His future details can wait a few days. Let's start with what we know about his signing...

5 years
$23.8 mil base contract
$33.4 mil with all incentives and escalators met
$17,175,000 guaranteed

At this point I have no clue how his guaranteed money is broken up, but I'm guessing that he's only getting the rookie minimum base salary of $295,000. I say this because last year's #8 and this year's #7 and #9 all took home the minimum rookie salary their first year. So for this year I'd need to add his signing bonus hit to that $295,000. He also might have received a small roster bonus ($100,000 range) this year to account for, and I'm starting to learn about things like one-time incentives that teams are now putting into contracts. It's an incentive that is included in each year until the player earns that incentive. Once earned in a given season, the incentive can no longer be earned preventing it from turning into a future LTBE.

. I can estimate a little on his salary. For instance, I can tell you that last year's #8 pick received a minimum rookie base salary of $285,000. This year's #9 pick took home a minimum roookie base salary of $295,000. And finally, this year's #7 pick took home a

RE: SALARY CAP THREAD

Jags02 — Sun, 17 Aug 2008 19:29:07 GMT

My RAW DATA on page one of this thread is now up-to-date, and more accurate than it's been in several years. I've even included the new team for every player listed that's on a new team, which you might find interesting. I'm working on my spreadsheet as I post this.

For starters I need to figure out precisely where they are under the cap. The lastest quote had them at $13.56 mil under as of August 4th. All of the roster moves since then have involved players with no bonus who are counting $445,000 or less. Since the 51st most expensive player counts $445,000, none of these moves had an effect on the cap. This means the Jaguars should still be at $13.56 mil under the cap. A month ago I was given a cap quote a tad higher than this, and Groves signed since then, so that would seem to confirm this number (remember that his cap hit would knocked off the prior 51st most expensive cap hit).

Having updated all of my player cap hits on my spreadsheet, in order to match this figure of $13.56 mil under the cap I'm now listing $4.2 mil in my "unknown savings" column. Basically this is the difference between my calculated spreadsheet result ($9.36 mil) and where the Jaguars are quoted as being under the cap ($13.56 mil).

In other words, looking at where they are under their adjusted $128.65 mil salary cap, I'm $4.2 mil off.

RE: SALARY CAP THREAD

Jags02 — Sun, 17 Aug 2008 16:37:39 GMT

As I'm putting together my books with all the updated figures, I noticed something regarding the "Beneficial Salary Program" that I keep mentioning. The deal is that if a veteran player signs for the minimum base salary along with no more than $40,000 in bonus money, that player only has to count the salary for a vet with two accrued seasons, which this year is $445,000.

Previously in this thread I mentioned that Tony Gilbert and Tuten Reyes appeared to have "Beneficial Salalry Program" contracts because they each signed with $40,000 or less in bonus money. Reyes picked up a $40,000 bonus while Gilbert signed with no bonus. Interestingly, neither qualifies because their base salary is more than the minimum...

Reyes' base salary is $731,000 whereas his minimum would have been $730,000. The difference is that the Jaguars have to account for his entire $771,000 cap hit instead of only $495,000 had they made it for $1000 less.
Gilbert's base salary is $610,000 whereas his minimum would have been $605,000. Again, the Jaguars have to account for $610,000 instead of only $455,000 because of the extra salary.

They easily could have made it an extra $1000 and a $5000 bonus instead wherein both players would still qualify, but clearly they purposely wanted to account for their entire cap hit. Maybe it was an attempt to try and spend closer to the limit back when they were so far under at the beginning of the offseason. Together, by structuring these two contracts like this the Jaguars have to account for an additional $425,000. That's money they could have added to Harvey's signing bonus.

RE: SALARY CAP THREAD

Jags02 — Sun, 17 Aug 2008 12:44:30 GMT

(note: ignore the ugly frames. I had to copy and paste from Word.)

I need to cover the most recent roster moves. I'm noticing that I haven't discussed any since they signed their fifth round picks in mid-July. At this point they had 78 players on their roster anticipating that Groves and Harvey would soon sign. Since then, the following moves have occurred...

Pete McMahon was waived a few weeks ago (7/25), and then recently re-signed (8/14). He actually joined the Patriots soon after being released, but was then released by the Patriots and claimed off waivers by the Jaguars. As far as I know he's only counting a rookie base salary of $295,000 meaning he had no dead money hit from his prior release.
Adam Bishop was waived. Like any UDFAs waived this late, I'm estimating that he's leaving a $2,500 dead money hit this year with a $5,000 dead money hit next year.
Quenton Groves signed a 4-year, $2.95 mil deal that includes minimum base salaries along with a $1,245,000 signing bonus. He probably has an escalator in his fourth year based on playing time.
Leander Jordan signed presumably as a replacement for McMahon, although he was just released to make room for McMahon to return. I figured he was signed to a Beneficial Salary Program contract wherein he counted $445,000. Most likely he signed without a bonus meaning he left behind no dead money.
Ryan Hoag signed a one-year deal for $370,000. In case you’re wondering, he is eligible for the Practice Squad.
With Harvey holding out, Mkristo Bruce was signed to his spot. Bruce signed a one-year deal at the $295,000 rookie minimum rate.
Mincey, Porter and Wrighster were placed on the PUP while Nkang and R. Williams were placed on the “active/non-football injury” list (7/26). I’m thinking both lists allow players to be placed on the PUP going into the season if they’re still not back. This does not effect the cap now, but when the season starts playing on the PUP count in addition to the 53-man roster. There’s also a notation that Reggie Williams passed his physical a few days later, but I assume he’s still on the list
Paul Smith was waived (7/31) leaving him in the same situation as Adam Bishop above.
G Chris Liwienski signed a one-year deal at his minimum base salary of $830,000. I’m assuming he received no bonus money which in turn makes this is a Beneficial Salary Program contract with him counting $445,000 while the league pays the remainder of his salary. This signing has no effect on the cap as the 51st most expensive player is currently counting as much.
FB Anthony Cotrone (knee) was placed on the waived/injured list (8-4), and was replaced by TE Isaac Smolko (8-5). Smolko had been released back in June, and he re-signed for the same $370,000 base salary.
DT Theo Horrocks (foot) was placed on the waived/injured list, and was replaced by DT Tywain Myles who signed for the rookie minimum. Tywain (ankle) ended up injuring himself in camp that same day (8/6) and was also placed on the waived/injured list. He was replaced by DT Jesse Mahelona (8/7) who carries a $445,000 minimum base salary.
DE James Wyche was placed on the waived/injured list (8/9) and was replaced by DE Bo Schobel. Schobel’s minimum salary is $605,000, but again this appears to be a BSP contract with him only counting $445,000.
Cotrone, Horrocks, T. Myles and Wyche all cleared waivers and are currently on the Jaguars IR List with their former contracts intact.
RB Lavarius Giles was waived (8-14) and replaced on the roster with DT Jonathan Lewis who was waived by the Lions in late June. I’m estimating a $5,000 dead money hit (plus $10,000 in ’09) for Giles that I added to my “small dead money hits” figure in my spreadsheet. J. Lewis was signed for the year at the $370,000 rate.

Now that I have all of these signings detailed out, I simply need to update all of my books so to speak.

RE: SALARY CAP THREAD

Jags02 — Sat, 16 Aug 2008 00:21:03 GMT

Ok, I believe I've finally figured out Reggie Nelson's cap details, which is basically my missing puzzle piece that I've needed so I can fully update all my cap info. He was reported with $7.1 or $7.2 mil in guaranteed money, and I haven't figured out how that total was reached, but I now have a good understanding of how his cap hits break down each year.

As for his bonus money, Reggie took home a $565,000 roster bonus and a $1.5 mil signing bonus as a rookie, and then a $2.77 mil option bonus this year. He also has a $50,000 workout bonus in '09 and '10, along with an escalator in '11 that if fully earned would net him an additional $3.5 mil. On top of this, it appears he had $1,875,000 in NLTBEs as a rookie, of which he earned all but $200,000. This amount would have been figured into the Jaguars cap (1,675,000 deducted) when the league adjusted the amount.

It's easiest to list each year with his cap hit and explanation...

2007 - $1,150,000 ($285,000 base + $565,000 roster + $300,000 SB hit)
2008 - $1,362,500 ($370,000 base + $300,000 old SB hit + $692,500 new SB hit) (in addition, $1,675,000 deducted from cap space for '07 NLTBEs)
2009 - $1,575,000 ($532,500 base + $992,500 SB hit + $50,000 workout)
2010 - $1,787,500 ($745,000 base + $992,500 SB hit + $50,000 workout)
2011 - $5,450,000 ($957,500 base + $992,500 SB hit + $3,500,000 escalator, assuming met)

Next up I have a slew of roster moves to cover dating back to late July, and then I'll get everything updated with a new estimate of where they are.

RE: SALARY CAP THREAD

Jags02 — Wed, 13 Aug 2008 03:50:35 GMT

I'm still a bit confused regarding Nelson's contract. His quoted cap hits just don't match up with some of the bonus money details. At present my raw data and spreadsheet are outdated. Hopefully I'll find some time this week or weekend to get them at least mostly up-to-date.

In the meantime, the latest cap quote shows the Jaguars at $13.56 mil under the cap. Weeks ago I received a similar cap quote ($13.63 mil on July 15), but I was waiting for an additional quote to confirm the number. This does.

What doesn't make sense is that they've been in this $13 mil to $14 mil range for months, and it seems they keep signing players and extending contracts without the number dropping despite handing out a hefty portion of roster bonus money. If I take their March 1 quote and subtract for signings I'd have them in the $7 to $8 mil range, so this really isn't making any sense to me. After I update my figures I'll again match the latest cap quote and will show the difference in my "unknown savings" column.

I also really don't get what Vance is thinking knowing that teams ulitmately do have to spend their cap space. Obviously he has a plan since he's not willing to spend extra cap space to give Harvey a "market-value" contract, but I'd love to know what that plan is. I imagine someone is going to get a last-second contract extension worded in a way that carries over something like $10 mil to the '09 cap.

RE: SALARY CAP THREAD

Jags02 — Tue, 12 Aug 2008 03:22:44 GMT

I have a few more details bringing me closer to being able to revise all my numbers. I still need to figure out what's going on with Reggie Nelson, and I have a little more to go on as well, but I've now pretty much nailed everyone else.

One update to make is on Chauncey Washington. I had him with a $52,000 signing bonus, but he actually took home $59,740 which slightly increases his cap hit.

Daryl Smith's last extension included just over $12 mil in bonus money, although I was listing most of this as roster bonus for '08 and '09. Instead, Daryl received a $4.5 mil signing bonus in '07 along with a $5.5 mil roster bonus. This year he took home an additional $2.03 mil roster bonus. His cap hit for the year works out as follows (excluding possible incentives)...

$605,000 base salary
$2,030,000 roster bonus
$750,000 SB hit (from '07 bonus)
$306,667 SB hit from old contract (same in '09, Deion Rule applies)
$3,391,667 TOTAL cap hit

Josh Scobee picked up $3 mil in bonus money in his last deal. I split it up as a $1.5 mil roster bonus in '07 & '08, but that's not correct. He actually took hom a $1 mil roster bonus in '07 along with a $2 mil signing bonus ($400,000 per year). Adding his SB hit to his $800,000 base salary gives Scobee a cap hit of $1,200,000.

Finally, Pashos likewise received a bigger signing bonus and smaller roster bonuses than I had been thinking. This year he picked up $2.1 mil roster bonus on top of a $6.05 mil signing bonus ($1,512,500 per year) and a $605,000 base salary giving him a $4,217,500 cap hit.

RE: SALARY CAP THREAD

Jags02 — Sat, 09 Aug 2008 17:41:48 GMT

[quote][b]jagabc6893 (8/6/2008)[/b][hr]Jags02, can you post Fred Taylor's salary break down for the rest of his contract? You may have posted it in the past, but I did not find it. Thanks.[/quote]

Sure. Taylor is one of the players that it appears I've nailed except that I'm no longer sure about what incentives he has. In the past Vic broke down all of his incentives, but that was years ago. His current contract surely involves a different set of incentives. I'm guessing that he has the possibility to earn up to $2 mil in incentives per year, and that last year he earned $800,000., which of course again counts this year as LIKELY TO BE EARNED incentives. So, aside from incentives, I'll list how his remaining cap hits work out...

2008 - $4 mil base salary + $1 mil roster bonus = $5 mil cap hit
2009 - $5 mil base salary + $1 mil roster bonus = $6 mil cap hit
2010 - $6 mil base salary + $1 mil roster bonus = $7 mil cap hit

There was no signing bonus hence no amortization in Taylor's last extension.

RE: SALARY CAP THREAD

jagabc6893 — Wed, 06 Aug 2008 23:57:52 GMT

Jags02, can you post Fred Taylor's salary break down for the rest of his contract? You may have posted it in the past, but I did not find it. Thanks.

RE: SALARY CAP THREAD

big boi — Fri, 01 Aug 2008 17:02:14 GMT

Tim Couch: dead money = $5,000 (estimate)

lol deady money 5,000 hahahah

RE: SALARY CAP THREAD

Jags02 — Mon, 28 Jul 2008 04:57:10 GMT

Having inquired about Manuwai, I've received some details that reveal my numbers to be very close except for how they structured some of his bonus money. His cap hits work out to be the same as I'm showing, but instead of giving him a $6.5 mil signing bonus they gave him a $3.5 mil signing bonus with the remaining $3 mil paid as an additional $600,000 roster bonus in each year. The primary difference is that instead of having a $1.3 mil SB hit in each year, he has a $700,000 SB hit plus a $600,000 roster bonus hit. I figure they did it like this to avoid any Deion Rule complications as well limiting their liability should they waive him early, but the resulting cap hit breakdowns as shown here are practically the same...

2007 - $1,400,000 base + $2,100,000 roster + $700,000 SB hit = $4,200,000
2008 - $1,900,000 base + $600,000 roster + $700,000 SB hit = $3,200,000
2009 through 2011 - $2,900,000 + $600,000 roster + $700,000 SB hit = $4,200,000

Likewise, I also received some details on Spicer that confirms my above estimate as correct. I still have a few more players, as mentioned above, to go over before I can re-figure my overall cap numbers.

Meanwhile, a few roster moves were made the day before training camp began including Grove's signing. I'll discuss all of these moves soon, although I may have to wait a couple days on a few of the veteran signings as their base salary details aren't yet posted at nflpa.

RE: SALARY CAP THREAD

Jags02 — Thu, 24 Jul 2008 03:59:20 GMT

I'm getting closer to completing this task of going through all my cap details by comparing their cap hits to what's listed at the SI site linked above, and then adjusting my details when needed by also utilizing the USA Today database for help. Skipping ahead of the tough ones, I've adjusted several easy cap hits mostly including draft picks where I was only off by a couple thou on average. Others adjusted are...

I was estimating a $1 mil signing bonus on Dennis Norman's 4-year deal that he signed back in '06, but it turns out he only received $750,000. As a result his cap hit dropped from $1,100,000 to $1,037,500.
For Mo Williams I only knew about him getting a $3 mil roster bonus on top of his $1 mil salary, but he's listed with a $4.3 mil cap hit. Reports listed him with $4 mil "guaranteed," so I figured they must have guaranteed his salary this year since I had been informed that he had no additional signing bonus. But this extra $300,000 in his cap hit now makes me think he had a $1.2 mil signing bonus (instead of guaranteeing his first year salary) in addition to his $3 mil roster bonus, and that they said "$4 mil" because they simply rounded down from $4.2 mil.
I've verified that Reggie Williams' base salary increased from $605,000 to $810,000. This must have been from an escalator in his rookie contract, and it increases his cap hit from $1,632,000 to $1,837,000.
George Wrighster appears to have a $50,000 workout bonus in each year of his contract that I didn't know about, which is the only charge still being tacked onto his base salaries.
I was estimating that Joey Zelenka picked up a $200,000 signign bonus on his 2-year extension which expires after this season, but it now appears that he received only salary with no bonus. That said, I was mistakenly listing his salary at $670,000 while its actually $730,000.

To conclude this excersize I still need to figure out, or at least better estimate, the details for Reggie Nelson, Tony Pashos, Josh Scobee and Daryl Smith. Everyone else is either nailed or at least appears to be very close aside from incentives which are typically impossible to know. Once I complete their details as best I can, I plan to re-figure my entire spreadsheet. From their I'll do what I can to estimate where they are under the cap.

RE: SALARY CAP THREAD

Jags02 — Tue, 22 Jul 2008 02:49:35 GMT

I need to quickly point out Trae Williams contract numbers. He received the same minimum base salaries over the next four years as the other two draft picks, although his signing bonus was $167,704. That gives him a cap hit this year of $336,926.

I've also been told that after this signing, the Jaguars are at $13.631 mil under the cap. Subtracting for Trae's SB hit brings my spreadsheet to $10.97 mil under. I reached this number after having adjusted my spreadsheet to match a May 31st cap quote that listed the Jaguars at $13.26 mil under. Given the extensions and signings since, it doesn't makes sense that they should have more cap room, but I'll reconsider where they're at after I conclude my project of going through all the player cap hits. There may even be a new cap quote out by then that makes more sense.

Of note, had I not adjusted my numbers for the May 31st quote, my spreadsheet would be showing them around $7.5 mil under. I really don't get how they're doing so much signing without their cap figure dropping at all, and it's even more bizarre when you figure in that they seem to be paying out mostly roster bonus in lieu of signing bonus. Keep your eyes open for any new cap quotes for all the teams. The bottom line is that they're somewhere between $7 and $14 mil under.

RE: SALARY CAP THREAD

Jags02 — Tue, 22 Jul 2008 02:31:46 GMT

As I continue, I have to keep telling myself that the USA Today Salary Database is chalked full of errors. With that understanding, along with creative guessing as to just how they're screwing it up, I'm able to arrive at reasonable cap numbers for players.

Manuwai agreed to terms on his extension with the Jaguars back on December 24th, 2006. He signed the contract two days later. USA Today had him as having part of his extension's cap hit included in that year with cap hits suggesting his cap hits were spread out through 2010. But that just doesn't make sense. First of all, his cap hits would have to be spread out through 2011, and second, you have to sign before a deadline in November for a cap hit to count that year. By applying his first cap hit on the extension to 2007 instead of 2006, all the numbers appear to fall into place.

His five-year extension was reportedly worth $20 mil. Subtracting his base salaries from '07 through '11 leaves $8 mil to account for. His $3.2 mil cap hit this year only makes sense if he picked up a $6.5 mil signing bonus. To account for the difference I figure he also picked up a $1.5 mil roster bonus in '07. These numbers don't jive all that well with USA Today except that I do end up with the same cap hit for 2007 that they're showing. Using this assumption, Vince's cap hits work out as follows...

2006 - $721,600 base salary
2007 - $1,400,000 base salary + $1,300,000 SB hit + $1,500,000 roster = $4,200,000 cap hit
2008 - $1,900,000 base salary + $1,300,000 SB hit = $3,200,000
2009 through 2011 - $2.9 mil base + $1.3 mil SB hit = $4,200,000

Now that's at least making some sense.

Rob Meier's new deal has me scratching my head. I was given bonus numbers for him, but the resulting cap hit is different than what's being reported at the SI site. These numbers came out right around the same time Meier signed his deal so it's hard to know for sure that they're his post-extension cap hit. Since the info I received appears solid, I'm going to keep what I have already, but I will make a notation that his cap hit was reported as being about $1 mil less than I'm showing.

Looking at Reggie Nelson's numbers, I'm more confused than ever. In lieu of driving myself crazy, I again need to stop and pick this up later.

RE: SALARY CAP THREAD

Jags02 — Thu, 17 Jul 2008 19:10:12 GMT

continuing...

Marcedes Lewis' contract structure was clearly a bit different than I was assuming. I had him with slightly more bonus money overall, but the main difference was that he appears to have received a large year-two signing bonus in lieu of moderate signing bonuses in years one and two. To best match all of the results I'm looking at, I'm also now estimating that he has a $25,000 workout bonus in '08 through '10. On top of his salary (which was apparently guaranteed for his first two years in lieu of the workout bonus) and possible workout bonus, Lewis took home a $715,000 roster bonus as a rookie, and that was it. In year two it appears he took home a $3.51 mil signing bonus. His cap hits work out as follows...

2006 - $275,000 salary + $715,000 roster = $990,000
2007 - $360,000 salary + $877,500 SB hit = $1,237,500
2008 - $582,500 salary + $877,500 SB hit + $25,000 workout = $1,485,000
2009 - $830,000 salary + same as above = $1,732,500
2010 - $1,077,500 salary (plus possible escalator) + same as above = $1,980,000

Vince Manuwai's numbers were way off, although his was a tough one as he signed a rather big contract with very few details reported. At any rate, I've spent the better part of an hour looking at his details and can't quite figure out what's going on. So I'm stopping for now and will resume research later on.

RE: SALARY CAP THREAD

Jags02 — Sun, 13 Jul 2008 00:16:34 GMT

As I alter my records, I'll explain here...

Angulo signed a three-year contract wherein I assumed he landed a minimal $30,000 signing bonus as a RFA. However, his cap hit is listed at $700,000 instead of $530,000, which now has me thinking he picked up a $180,000 roster bonus instead.
In several cases, past draft pick signings were estimated with their cap hits ending up being off by a few hundred dollars on average. I've adjusted these to their precise amounts, but I don't see the need to list all of these very minor adjusments.
Justin Durant reportedly received $1.72 mil in "guaranteed money." I had it split up as a $1.22 mil rookie signing bonus plus a $500,000 sophomore roster bonus. However, after comparing his listed cap hit with USA Today's salary database info, it appears that his bonus was actually split up as a $1.302 mil rookie signing bonus and a $418,000 rookie roster bonus. As a result, I changed his cap hit in my records from $1,175,000 to $695,500.
I estimated that Gilbert signed on with a $50,000 bonus and a $660,000 cap hit, but it appears he signed without any bonus. This in turn should qualify him for the Beneficial Salary Program wherein he's really only costing $445,000
John Henderson's numbers are off a tad. I had him landing a $7.6 mil signing bonus in '06, but it turns out it was a $6.45 mil signing bonus giving him yearly SB hits of $1.29 mil through 2010 (he won't have a SB hit in 2011). He also picked up at least $6 mil in roster bonus money the past two years. This year his cap hit equals his $1.4 mil base salary plus his $1.29 mil SB hit along with another $200,000 that I figure is probably another roster bonus paid this year. John's reported contract total exceeds what I'm listing for him, so it makes sense that there might be hidden roster bonus money in each year. Overall his cap hit changed slightly from $2.92 mil to $2.89 mil, but his remaining amortization dropped from $4.56 mil to $3.87 mil. His big base salaries start to kick in next year.
Maurice Jones-Drew's contract called for the same amount of bonus money that I'm estimating, but the structure is way different. I estimated an $800,000 rookie signins bonus plus a $360,000 sophomore option bonus. Instead I'm now thinking he took home a $400,000 rookie signing bonus along with a $125,000 rookie roster bonus, and then a $420,000 sophomore option bonus and a $230,000 sophomore roster bonus. Here's how his cap hits work out over the length of his contract...

2006 - $100,000 SB hit + $125,000 roster + $275,000 salary = $500,000
2007 - $240,000 SB hit + $230,000 roster + $360,000 salary = $840,000
2008 - $240,000 SB hit + $445,000 salary = $685,000
2009 - $240,000 SB hiy + $530,000 salary = $770,000

This is going to be a long process, and I'll have to stop here for now.

RE: SALARY CAP THREAD

Jags02 — Sat, 12 Jul 2008 19:43:56 GMT

I'm starting to look into the descepencies in my estimated cap hits as compared to the site mentioned in the prior post, but this appears to be a project that may take a couple weeks. In the meantime let me touch on their recent signing of 5th round pick Thomas Williams.

Per the T-U, Williams signed a typical 4-year contract identical to Chauncey's (detailed above) except that his signing bonus is $174,500. This is on top of minimum salaries for the first four years, and there may or may not be an escalator in the fourth year. His cap hit this year works out to $338.625 ($295,000 base salary plus $43,625 SB hit). Subtracting his SB hit from the total brings the Jaguars overall estimate to $11.02 mil under the cap.

RE: SALARY CAP THREAD

Jags02 — Wed, 09 Jul 2008 10:33:26 GMT

[quote][b]Bjagfan (7/9/2008)[/b][hr]Hey 02,

Just wondering if you had seen this...
http://sportsillustrated.cnn.com/football/nfl/salaries/2008/all.html

I'm completely unsure of where all those numbers are coming from, but that guy is doing some speculation about a 53 man roster in the uncapped 2010 season using alleged 2008 numbers... http://sportsillustrated.cnn.com/2008/writers/michael_lombardi/06/25/roster.explanation/index.html
Interesting, but are those figures valid or just more speculation?[/quote]

I recently noticed the site, and from talking with other fan capologists the list appears to be very accurate with few exceptions where contracts have changed. I'll have to find some time to go over the Jaguars numbers in details. This is a great find that should enable me to nail most of the numbers.

Just keep in mind that the site is only good for knowing the overall 2008 cap hits for players. Their "challenge" is as worthless as worthless gets because it overlooks so many factors. Cap hits are about contract structure and have little to do with the actual value of players.

RE: SALARY CAP THREAD

Bjagfan — Wed, 09 Jul 2008 00:40:12 GMT

Hey 02,

RE: SALARY CAP THREAD

Jags02 — Fri, 04 Jul 2008 19:45:30 GMT

Over the past two weeks the Jaguars signed their first draft pick, Chauncey Washington, and extended Spicer's contract for two additional years.

The initial report in the T-U on Chauncey's signing was quite wierd. It showed Washington earning the normal rookie base salary, but then had his salary increasing per year by a mere $15,000 after that. It's possible that's how his salaries are stated in his contract in the event the current salary cap rules go away, but I've never seen that before. Under normal rules he's due to make the league minimum per year based on how many years he accrues. As long as he's on the roster in some capacity (including IR) for at least six games each year, his minimum is actually scheduled to be...

2008 - $295,000
2009 - $385,000
2010 - $470,000
2011 - $555,000

Aside from Harvey, all of the rookies should end up with these same base salaries. Reportedly Washington also took home a signing bonus "in the $50,000 range." I'll should be able to practically nail the precise amount after most of the seventh rounders have signed, but for now I'll estimate that he took home $52,000, which divides easily into $13,000 per year. This estimate gives him a rookie cap hit of $308,000. Of course this cap hit is not among the 51 most expensive which in turn means that only his $13,000 SB hit is counting in the offseason books. Also, four-year rookie contracts like this often include an escalator in the fourth year, but I'm guessing his contract doesn't with him being a 7th round pick.

Spicer's extension is reportedly worth $10.5 over the next three years, including this year. Since he had been set to make $2.5 mil this year, this means he's taking home $8 mil in additional money to account for the additional two years. His new base salaries are now spelled out as follows...

2008 - $1 mil
2009 - $2.5 mil
2010 - $2 mil

These salary figures add up to $6 mil, which leaves another $4.5 mil to account for. It's possible they gave him this much as a roster bonus this year like they have with other contracts, but that sounds like a bit much. Rather, I'll assume the $1.5 mil they took off his base salary this year was converted to a signing bonus, and then he the remaining $3 mil was roster bonus paid this year. As I learn the actual details I'll of course adjust everything.

Using these assumptions, this is how Spicer's cap hits work out...

2008 - $4.5 mil
2009 - $3 mil
2010 - $2.5 mil

If accurate, this is what you call a "front-loaded" contract. It also again fits the theme that they're keeping their spending for the 2010 season to an absolute minimum. Also, Spicer's last contract had a few incentives in it. While none were reported in this extension, it's possible that more incentives were added. Often incentives are included but not reported, although I'm not including any in my estimates.

With these two moves accounted for on my spreadsheet, I'm now showing the Jaguars at $11.07 mil under the cap.

RE: SALARY CAP THREAD

Jags02 — Sat, 21 Jun 2008 19:32:46 GMT

RB D.D. Terry was waived when RB Lavernus Giles signed. Ciatrick Fason and Giles were brought into the minicamp to workout with the team, and they made this move soon after. Terry's release left a minimal amount of dead money in the books (estimating $5,000 that's being accounted for in the "small dead money hits" total) this year.

Giles signed a 3-year minimum salaried contract as a "1st-year" player (base salaries are $295,000, $385,000 and $470,000). Since the Jaguars have been handing out primarily roster bonuses as opposed to signing bonuses, I'll guess that Giles took home a $50,000 roster bonus giving him a 3-year, $1.2 mil contract. His estimated cap hit this year is $345,000.

Most recently, the Jaguars waived Brian Smith, Craphonso Thorpe (claimed off waivers by Giants), Isaac Smolko, Brett Goode and Ryan Gibbons...

Smith left the Jaguars with $339,000 in remaining amortization. He'll count $113,000 dead money this year, and then $226,000 in dead money next year.
Thorpe, Smolko, Goode and Gibbons each left a minimal dead money hit that I'm accounting for in the small dead money hits total.

With these moves accounted for after having adjusted my spreadsheet to agree with the latest quote (by listing $3.5 mil in "unknown savings"), I'm now showing the Jaguars at $13.08 mil under the cap.

RE: SALARY CAP THREAD

Jags02 — Sat, 21 Jun 2008 18:26:54 GMT

It's time for a long overdue update.

I have some contract details for McDaniel and Meier, the last two signings made prior to that most recent cap quote coming out. I also info on Collier.

I nearly nailed McDaniel's bonus. I was estimating a $750,000 roster bonus for him, but instead he only took home $700,000. Subtracting $50,000 from his cap hit leaves him at $1,147,250 (includes an estimated $2,500 SB hit from his rookie contract).

That said, I was way off on Collier. I estimated that he took home a $450,000 signing bonus, but he actually took home a $1.5 mil roster bonus giving him an overall cap hit of $1,945,000. It's possibly telling that both former UDFAs signed on through the 2010 season, and for the same overall contract total, but Collier was guaranteed twice as much up front. In McDaniel's contract, the difference was tacked onto his base salaries for '09 and '10 (mostly '10).

Meier took home a $2.3 mil roster bonus this year, and he's set to take home another $2.5 mil roster bonus next year. I had him listed with $5.25 mil in total bonus money ($3 mil roster this year, $1 mil roster next year, plus a $1.25 mil signing bonus this year), which I arrived at by taking his reported contract total of "roughly $15 mil," and subtracting his $9.75 mil in base salaries. When I take add his $4.8 mil in roster bonus money to his base salaries I'm only at $14.55 mil, but I figure that's close enough to "roughly $15 mil." So for Meier I'm now showing his cap hits at...

2008 - $3,660,000
2009 - $4,000,000
2010 - $2,250,000
2011 - $2,500,000
2012 - $2,500,000

I find it interesting how they're utilizing roster bonus money for this year and next year in leau of signing bonus money that would stretch out into the currently uncapped years.

When I tack on all of the above details to my spreadsheet, it takes my the spreadsheet total down to $9.53 mil under. At this point I should have been at $13.23 mil under per the lastest cap quote, so like always I'll account for this difference by adjusting my "unknown savings" column. We may eventually learn that the quote was in error and that I simply need to remove this amount, but for now I need to stick with the latest cap quote.

In my next reply I'll go over the more recent roster moves in order to get caught up to date. These include adding Lavarius Giles while waiving six others.

RE: SALARY CAP THREAD

Jags02 — Wed, 11 Jun 2008 02:06:00 GMT

I need to re-do my estimates for Meier and McDaniel in order to match my spreadsheet total to the recent cap quote for the Jaguars. My spreadsheet is showing them at $9.88 mil under, but I need it to show $13.25 mil under. That's a difference of $3.37 mil.

Having looked over the details for these two players, the leap appears to be too great. I plan to have more details in the coming weeks regarding the contracts for both DTs, so for now I'm going to leave my books alone. I'll adjust my books in due time, but for now go buy what I'm telling you in this thread instead of my spreadsheet.

RE: SALARY CAP THREAD

Jags02 — Tue, 10 Jun 2008 20:49:07 GMT

I still have to find time to go back over my last few contract estimates in order to edit my spreadsheet to reflect where they're at, but for right now I need to include Craphonso Thorpe's contract. Thorpe signed a one-year deal with a $370,000 base salary. I'm estimating that he took home a $5,000 bonus on top of that. Should he make the roster, he'll be a 2009 RFA. Should he fail to make the roster, Thorpe is still eligible for the Practice Squad.

Overall the Jaguars are still about $13.23 mil under the cap (includes minicamp workouts).

RE: SALARY CAP THREAD

Jags02 — Mon, 09 Jun 2008 19:09:26 GMT

[quote][b]ray3 (6/9/2008)[/b][hr]Hey 02,

It seems like the Jaguars have kept guys on injured reserve who were in the last year of their contract without resigning them. Is there some rule about this, because it seems like there is otherwise no reason to keep them on the roster. Do you know where I can find out more about this? [/quote]

If they were a vested vet who was on the roster week 1 then their base salary would have been guaranteed anyways. In that case maybe they'd keep them on IR just to avoid a potential injury settlement.

RE: SALARY CAP THREAD

ray3 — Mon, 09 Jun 2008 17:07:52 GMT

Hey 02,

RE: SALARY CAP THREAD

Jags02 — Tue, 03 Jun 2008 03:38:40 GMT

I need to go over my last few contract estimates so that they don't take off so much cap space. I was structuring them with the idea in mind that the Jaguars are trying to spend their cap space, but instead they were structured in a manner to not take up much space at all. At the end of April I had my books matching the current estimate of $13.97 mil under. My last estimate had them down to $9.91 mil under, but a listing of the remaining cap space for all 32 teams as of the end of May is out (http://www.kffl.com/forums/showthread.php?t=230977), and it's showing that the Jaguars still have $13.26 mil available.

I take it this is the number prior to Thorpe signing (which I still have to account for), but with everything else counting. Off hand I figure that roster bonus money I was allocating for this year is either roster bonus money due next year or is signing bonus money. I'll have to work on this over the coming days.

RE: SALARY CAP THREAD

DocBear68 — Sun, 01 Jun 2008 16:38:25 GMT

Why would you buy chopped liver when you already have steak?:)

RE: SALARY CAP THREAD

Jags02 — Tue, 27 May 2008 02:45:01 GMT

I finally have the details updated for the Jaguars UDFAs. It turns out that they each signed on for three years, which is sort of new as in past years they typically signed two-year deals. As a result I'm estimating that they each received a $7,500 signing bonus on top of base the following base salaries: $295,000, $385,000 and $475,000. If waived in the cutdowns, a UDFA would be listed in my books as counting $2,500 dead money this year and then $5,000 dead money next year. Just keep in mind if you're paying close attention that their actual bonuses were probably a tad less than I'm estimating.

In my last reply I arrived at an estimate for Rob Meier's extension details. I now need to do the same for T-Mac. Tony was in the books with a $445,000 base salary this year, and that was it. He's still in the books with the same base salary this year, but now he's also down for a $1 mil base salary in '09 followed by a $1,855,000 base salary in 2010. Like always I'm keeping my eyes and ears open for any more details, but for now there's nothing more to go by. For now I'll presume that Tony's contract is similar to the extension Spicer signed a few years ago. That is, he probably has some new incentives on top of his higher base salaries along with a $750,000 roster bonus they would have just paid him.

Subtracting for this estimated roster bonus along with one additional week of workouts (the final week of May), I'm now showing the Jaguars at $9.91 mil under the cap.

RE: SALARY CAP THREAD

Jags02 — Sat, 17 May 2008 23:10:34 GMT

At some point I need to go over all of my player estimates by comparing what I have with USA Today's salary database. The database is updated through 2007, but it's not as easy as it sounds. It's often very difficult to decipher just what they're counting for each field. Spicer is a good case in point. When they tacked on a final year I estimated that they gave him a healthy signing bonus, but it now appears that all they gave him was a $750,000 roster bonus along with incentives.

I'm updating my raw data and spreadsheet to a new estimate for Spicer along accounting for Rob Meier's new extension, the addition of a rookie UDFA WR, and more workouts. Additionally I still need to update my raw data for the original 13 UDFAs, and for the new WR, but the NFLPA still hasn't included their data. They usually have this info up there by now so I don't know what the hang-up is.

For Spicer I'm showing him as counting his $2.5 mil in base salary with no additional amortization (2007 represented his last signing bonus hit from his '04 contract) along with $800,000 in LTBE incentives which I count seperately.

Like with the other UDFAs, I'm estiming a $2,500 per year signing bonus for WR Derek Richards. With him being such a late signing he may have joined on for little or no bonus, but I still do them all the same to make the math easy. While I don't yet know how many years Derek signed for, I can add an additional $2,500 to the "additional bonus hits" column on the spreadsheet.

Like with most contracts handed out over the past couple years, we get practically no details and I'm forced to guess. I can't stand guessing, but yet again they inked Meier to an extension and won't say a word. Again I'll enquire and may learn more details, but for now I need to estimate his cap hit. Rob was scheduled to earn either $1.095 mil or $2.095 mil in base salary. I was listing $1.095 mil in base salary which is what he had been scheduled to earn per the nflpa, but a recent report at the T-U said $2.095 mil. It's possible he earned a $1 mil escalator in his base salary, but in either event his new deal overwrites the old amount. As it relates to figuring out how much they're under overall (and to stay on the safe side), I'm assuming that I was correct at $1.095 mil.

Rob Meier's new base salaries are as follows...

2008 - $1 mil
2009 - $1.5 mil
2010 - $2.25 mil
2011 - $2.5 mil
2012 - $2.5 mil

While I don't have any bonus or incentives details, the T-U reported that his overall contract extension was worth about $15 mil. Since his base salaries total $9.75 mil, that leaves roughly $5.25 mil for bonus money (incentives are not typically included in overall contract value quotes unless it says "up to" first).

Looking at the trends Vance has used so far in contract extensions (heavy upfront roster bonus, etc), I'll estimate that this year he received a $1.25 mil signing bonus (counts $250,000 per year) and a $3 mil roster bonus, and that next year he's due another $1 mil roster bonus. This estimate gives him the following cap hits...

2008 - $4.61 mil (includes final $360,000 SB hit)
2009 - $2.75 mil
2010 - $2.5 mil
2011 - $2.75 mil
2012 - $2.75 mil

At least this is what a typical Paul Vance contract would look like this year. That is, an overall flat structure but with a bigger first year cap hit.

As for their workouts I'm now listing $200,000 which should roughly equal how much the Jaguars have paid out to players up through this upcoming week ending March 23rd.

With all of the above accounted for, my spreadsheet is now showing the Jaguars at $10.68 mil under the cap.

RE: SALARY CAP THREAD

Jags02 — Thu, 08 May 2008 23:08:51 GMT

You've probably heard before that UDFAs have to count within the rookie pool as well. I've actually heard this repeated several times over the past few years, but never account for them because doing so never made any sense. If you were to account for the entire first year cap hit of every rookie, including UDFAs, the rookie pool amounts would have to be much bigger.

Well, I just learned how they're accounted for. It's sort of like the top 51 rule where those who aren't in it only count their bonus money, but not their base salary. I considered this possibility before, but discounted it as well because the entire cap hits of even 7th round picks count against the rookie pool even though they're never in the top 51. But this is precisely what the league does. The projected $295,000 base salary for a UDFA does not count in the total because so few of them actually make league rosters, but any additional money has to count within the rookie cap.

The Jaguars have 13 UDFAs wherein I'm estimating the total of their bonuses to be $32,500 (13 x $2,500). Subtracting this amount from their rookie pool leaves them with right about $3.69 mil in first-year cap hits for their five draft picks.

RE: SALARY CAP THREAD

Jags02 — Thu, 08 May 2008 07:37:39 GMT

[quote][b]The Linebacker (5/8/2008)[/b][hr]Don't know if you've seen this yet...

http://www.kffl.com/team/20/nfl

Jaguars | Team’s rookie pool money announced
Wed, 7 May 2008 22:19:21 -0700

John Clayton, of ESPN.com, reports the Jacksonville Jaguars have been given $3,721,960 to sign their five draft picks from the 2008 NFL Draft.[/quote]

Thanks.

When considering how much will count against the cap when the draft picks are initially signed, consider two things...

The fifth rounders will not count their $295,000 base salary.
The first two picks will each knock at least a $445,000 player off the top-51 list.

So when you look at this $3.722 mil figure, you want to subtract these amounts. Subtracting $1.48 mil from their rookie pool leaves leaves $2.242 mil. This is how much I'd expect the five picks to count against the cap right away (of course after the last cut, rookie cap hits will count in full).

The Jaguars currently standing at $13.88 mil under, but after accounting for their draft pick signings they really only have $11.64 mil available to sign additional players and hand out extensions.

RE: SALARY CAP THREAD

The Linebacker — Thu, 08 May 2008 02:07:50 GMT

Don't know if you've seen this yet...

http://www.kffl.com/team/20/nfl

Jaguars | Team’s rookie pool money announced
Wed, 7 May 2008 22:19:21 -0700

John Clayton, of ESPN.com, reports the Jacksonville Jaguars have been given $3,721,960 to sign their five draft picks from the 2008 NFL Draft.

RE: SALARY CAP THREAD

Jags02 — Fri, 02 May 2008 02:38:56 GMT

I'm going to make another correction from my above reply. I don't think the UDFAs are counting in the recent quote because their base salaries are still not showing up at the NFLPA site. This means an additional $32,500 needs to come off the cap estimate. Additionally, the quote wouldn't count this week's workouts, so that's another $25,000 to subtract. After deducting these figures, my new estimate has the Jaguars at $13.88 mil under the cap.

RE: SALARY CAP THREAD

Jags02 — Fri, 02 May 2008 02:09:21 GMT

Updated cap numbers have been posted over on the KFFL boards. It turns out that the Jaguars are much closer to my actual spreadsheet total than the estimate I've been using. My estimate as of late has had the Jaguars around $19 mil under per a media quote that come out last month, but my spreadsheet without adjusting it for "unknown savings" has the team around $13 mil under. It turns out they're currently around $14 mil under. This makes so much more sense.

This latest quote has the Jaguars at $13.97 mil under as of May 28th. Whenever I get a new quote, the most important thing is to figure out who precisely is being accounted for. For instance, does this count Pierson Prioleau? Clearly when the quote came out a month ago, I had assumed wrongly that it must have been counting contracts that it wasn't.

The best site I've found to determine when roster moves are made is the PFW transactions page. According to the page, Ricard was released on the 29th and Prioleau was signed on the 30th. So these two moves were not accounted for in the above quote. The UDFAs were signed on the 25th, so they're probably accounted for in this number. Collier's contract was extended just prior to the draft, so this move should be accounted for as well.

The first thing I need to do is get an accurate current number...

Ricard's release has no effect on the cap. He had a small amount (I'm estimating $5000) counting as dead money, and that amount remains the same. His base salary was never counting since he was not in the top 51.

Prioleau's addition probably has a small effect on the cap unless they gave him no bonus. As estimated, Pierson signed a one-year contract for the minimum base salary. I don't know his bonus, but I'll stick with my estimate of a $40,000 bonus being the max a player can get under the Beneficial Salary Program. If correct, his $485,000 cap hit knocks off a $445,000 cap hit which in turn puts the Jaguars at $13.94 mil under the cap. This is the number I'll adjust my cap spreadsheet to match.

I also need to make a couple adjustments. For one, there were only 13 UDFAs instead of the initially reported 14, which is a $2,500 discount. Also, I learned something new about Tuten Reyes. The Jaguars purposely avoided taking advantage of the Beneficial Salary Program by giving Reyes a base salary of $731,000 instead of $730,000. I had him down as having been signed to a BSP contract with a $10,000 bonus wherein he'd count $455,000, but I learned that his total cap hit is also $731,000. So he's not getting a bonus, but he's counting his entire base salary which may be an intentional move to help them reach the cap minimum.

My spreadsheet now reads $13.94 mil under, and the biggest change is that instead of counting nearly $6 mil in "unknown savings," I'm now showing nothing in that column. I was going to put $1 mil in there, but I noticed I was also listing $1 mil in "unknown incentives." By wiping out that cost along with slightly adjusting my "small dead money" figure, I ended up matching the $13.94 mil under figure.

RE: SALARY CAP THREAD

Jags02 — Fri, 02 May 2008 00:47:10 GMT

I've been fielding questions about which players contracts expire after this year. To clarify for those who may want to know, the following is a list of the Jaguars projected 2009 RFAs and UFAs should they make the final roster this season...

JAGUARS 2009 UNRESTRICTED FREE AGENTS

LT Khalif Barnes ('09 is believed to be voidable)
QB Todd Bouman
MLB Tony Gilbert
C Brad Meester
DT Rob Meier
S Pierson Prioleau
WR Reggie Williams ('09 is voidable)
MLB Mike Peterson
DE/OLB Kenny Pettway
RG Tuten Reyes
SS Gerald Sensabaugh
LDE Paul Spicer
CB Scott Starks
LS Joey Zelenka

JAGUARS 2009 RESTRICTED FREE AGENTS

SS Jamaal Fudge
LB Brian Iwuh
DT Tony McDaniel
LDE Jeremy Mincey
RB Montell Owens

The Jaguars are way under the cap, but as you see there are several players they have to be thinking about extending. I imagine that's how they'll end up spending their remaining cap space. Who would you extend?

RE: SALARY CAP THREAD

Jags02 — Thu, 01 May 2008 02:44:17 GMT

Pierson Prioleau signed, and Ricard was waived. I've seen no details as of yet, but I'm assuming he signed a Beneficial Salary Program contract with a $40,000 signing bonus wherein he's only counting $485,000. This in turn drops my cap estimate to $19.03 mil under.

RE: SALARY CAP THREAD

Jags02 — Tue, 29 Apr 2008 03:05:43 GMT

In addition to adding all the new names to my roster data, etc, there are a couple cap updates to make...

First, I need to account for their workouts over the past few weeks. The Jaguars typically have a 12-week offseason workout program, but the league allows for up to 14. By weeks end they'll have completed six weeks of the program, which at my estimated $25,000 per week rate works out to $150,000 altogether. I was listing $75,000 for their first three weeks, so an additional $75,000 came off the cap since.

The other update is that OT Richard Collier just signed a two-year extension. This hasn't been reported anywhere, and I wouldn't have even known about it had Del Rio not mentioned this fact during one of his draft press conferences.

Looking up his details at the nflpa site (you now have to register at their site), Collier has a $950,000 base salary in '09, and a $1.1 mil base salary in '10. I'm guessing that on top of this he received a $450,000 signing bonus which counts $150,000 per year starting this year. This estimate leaves Collier with the following cap hits...

2008 - $595,000
2009 - $1,100,000
2010 - $1,250,000

The Jaguars haven't even added another OT leaving Ryan Gibbons and Andrew Carnahan as his only competition on the roster. This suggests to me that the team is rather confident if Collier's ability to be the 3rd OT this season, and Del Rio even made a comment that Collier might challenge Barnes for the start at OLT.

As for the 14 new UDFAs, their base salary won't count as they are not among the 51 most expensive. However, as I did last year I'm estimating a bonus for each UDFA equal to $2,500 per year that they're signed up for. This counts against the cap, so for 14 UDFAs that's a deduction of $35,000 represented in my "Additional Bonus Hits" column.

Having includes these updates on my spreadsheet, I'm now showing the Jaguars at $19.07 mil under the cap. I'm going to wait a couple days before posting updates to my raw data and spreadsheet because I want to include all the rookies in it, but I need to wait to find out how long each UDFA signed for.

Also, there's one more thing I learned recently. Last year the team went after some of Stroud's signing bonus for the time he missed while on suspension. In all they managed to have Stroud pay back $122,354. This does not effect my overall estimate, but I reduced this amount from his dead money figure and then adjusted my "unknown savings" figure to compensate.

RE: SALARY CAP THREAD

Jags02 — Sun, 20 Apr 2008 06:44:18 GMT

I know have more details on Garrard's contract. Basically I was correct about most everything including his bonus money total being only $9 mil. As I presumed above in this thread, the rest of his "guaranteed money" was primarily made up by guaranteeing his first two years salary, although they're also guaranteeing $550,000 of his 2010 base salary to arrive at the $18 mil guaraneed total. On top of this I was also correct about him getting a $25,000 workout bonus each year. What's different is how that $9 mil is split up, and that he has additional incentives in his contract.

I was accounting for Garrard getting a $9 mil signing bonus, but if I'm understanding all the numbers correctly he instead received a $6 mil roster bonus with an additional $3 mil roster bonus due March '09. As for his incentives which were not mentioned at all previously, Garrard is set to make at least $500,000, and up to $1 mil, per year in incentives and/or escalators provided he's healthy for at least three to four games each season. This is on top of all previously reported totals, meaning his contract may be worth as much as $67 mil.

Given this new info, his cap hits actually look like...

2008: $9.5 mil
2009: $8.5 mil
2010: $8 mil
2011: $8 mil
2012: $8.5 mil
2013: $9 mil
2014: $9 mil

Overall this is as flat as contract structures get. This year's cap hit is broken down as follows...

$2,975,000 base salary
$25,000 workout bonus
$6,000,000 signing bonus
$500,000 prior amortization
$9,500,000 TOTAL

Additionally I learned that Garrard is counting $400,000 in LTBEs this season, although I account for LTBEs seperately which is why I'm not including this in his cap hit total. With incentives, his cap hit total is actually $9.9 mil this season.

After increasing Garrard's cap hit on my spreadsheet from $5 mil to a team high $9.5 mil (I re-arranged what LTBEs are counting overall so that part evens out), I'm now showing the Jaguars at $19.33 mil under the cap. As a result they only need to spend an additional $1.95 mil in cap hits to reach their minimum cap, but rookie signings will more than cover that.

RE: SALARY CAP THREAD

Jags02 — Sat, 19 Apr 2008 14:48:41 GMT

One more thing...

S LaMont Thompson was released. We never did get to see him on the field, but according to tack fans he absolutely stunk up the field whenever his cleats got near one. I'm not surprised to see him cut, but it now means that the Jaguars definitely need to add a SS or else move BW to the position. The only players they have at the position (if you count Special Teams Ace Chad Nkang as a LB) are projected starters Nelson and Sensabaugh along with the undersized yet hard hitting Jamaal Fudge for depth.

Anyways, Thompson's release frees up his $700,000 base salary although I'm estimating a $125,000 dead money hit to account for his bonus money. With a $445,000 player replacing his name among the 51-most expensive, I'm now showing the Jaguars at $23.83 mil under their $128.65 mil adjusted cap. If my estimate is accurate, the Jaguars need to spend an additional $6.45 mil to make their minumum cap ($111.28 mil).