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Last Login: Today @ 3:00 AM
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| I just so happened to notice that RB Montell Owens became the first of the Jaguars exclusive-rights free agents to sign his tender. His $445,000 tender was already counting so this has no effect on the cap. Their remaining EFAs (Estandia, Fudge, Mincey and Wyche) should sign their tenders soon.
'02
Check out my CAP_INFO, and join my new WEBSITE.Coach Del Rio: "Respect every opponnent, and fear nobody." |
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Last Login: Today @ 3:00 AM
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| | I've finally received the contract details for the Jaguars signings to date in free agency. In part my estimates were off for two reasons... One, the actual bonus totals for Porter, Florence and Mo Williams were less than reported leaving me to think my initial hunch about their first year salaries being guaranteed was correct. They include the amount when reporting their "guaranteed total," but it's really just for show. It's not like they're going to be cut this offseason, so they're going to earn their first year base salary anyways. Two, the percentage of roster bonus money was much higher than I was thinking. I was averaging their roster bonus total at around 25 percent of their total bonus, but it's more like 66 to 100 percent. This in turn would seem to use up a bit more of the cap, only their total remaining has already been reported. They may have had more than I was thinking to begin the offseason. That is, I'm still need to show the Jaguars at $26.2 mil under the cap. I just have to manuevre the numbers to reflect this. According to my latest info along with my assumptions as to what it means, this is how their guaranteed totals are split up... - Jerry Porter - total guaranteed reported at $10 mil. Actual guaranteed...
- $3 mil signing bonus
- $3.5 mil roster bonus for '08
- $100,000 yearly workout bonus ($600,000 total)
- $2 mil roster bonus for '09
- $900,000 '08 salary guaranteed
- $9.6 mil total guaranteed
- Drayton Florence - total guaranteed reported at $12 mil. Actual guaranteed...
- $3 mil signing bonus
- $5 mil roster bonus for '08
- $2.5 mil roster bonus for '09
- $1 mil '08 salary guaranteed
- $11.5 mil total guaranteed
- Mo Williams - total guaranteed reported at $4 mil. Actual guaranteed...
- $3 mil roster bonus
- $1 mil '08 salary guaranteed
- $4 mil total guaranteed
I'm not sure why there's such a discrepancy in their guaranteed totals and the information I've received. I'm simply figuring this must mean my guaranteed first year salary theory is correct, and that the media was rounding up their bonus totals. I'll keep this all in mind, however, in the event I learn about additional bonus money in their contracts. On the bright side, these new figures help bring their contract totals closer to what was reported. Porter's total was reported at $30 mil; his total per my new figures is $30.4 mil. Florence's total was reported at $36 mil; his estimated total is now $35.6 mil. Mo's total was reported at $12 mil, but my new estimate has his total at $12.5 mil. Cleo Lemon's situation is one I thought I understood the most, but the new info shakes it up quite a bit. His contract total was reported at $8.1 mil with a $2.95 mil signing bonus, but I'm now told he got a $3.2 mil roster bonus instead. That said, the later figure may be a roster bonus total made up of a $2.95 mil roster bonus and another $250,000 roster bonus, which may be a workout bonus (the numbers are from the nflpa, but they still have to be interpreted). When I tack on his $3.2 mil in '08 roster bonus money to his $4.5 mil base salary total, I get $7.7 mil. To reach his $8.1 mil contract total, I'll assume he also has a $200,000 workout bonus in '08 and again in '09. The main difference here is that the contracts were "front loaded" as opposed to my estimates that they were "flat." The result is that their future cap hits are all a bit lower while their '08 cap hit went up compared to my estimates. Here's how their cap hit estimates for '08 changed... - Porter - was showing $3.4 mil; now showing $5 mil
- Florence - was showing $4 mil; now showing $6.5 mil
- Williams - was showing $3.125 mil; now showing $4 mil
- Lemon - was showing $2.138 mil; now showing $3.805 mil
This makes for an additional $6.642 mil in cap hits this year. It's tempting to just take this off the top and say the Jaguars are $20 mil under, but I can't do that. I need to keep my spreadsheet in synch with the latest cap quote of $26.2 mil under. To do this I'm putting $6.5 mil in my "unknown savings" column while adjusting my incentives figures (and small dead money hits) to account for the other $42,000.
'02
Check out my CAP_INFO, and join my new WEBSITE.Coach Del Rio: "Respect every opponnent, and fear nobody." |
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Last Login: Today @ 3:00 AM
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| Today marks the start of the Jaguars Offseason Workout Program meaning I need to start accounting for their "workouts." In past years I've figured out that it probably works out to something like $25,000 a week that the team spends against the cap during this program. BTW, the Jaguars are probably going to have some comp picks in the '09 draft. When you look at their free agent transactions, they've gained... Jerry Porter Drayton Florence Cleo Lemon Jimmy Kennedy
That's four gained, but if Kennedy fails to make the final roster it'll only be three gained. Now look at the UFAs lost... That's six lost so far, and there are another four out there. Grady Jackson, Terry Cousin, Aaron Glenn and Stockar McDougle still might sign somewhere.
'02
Check out my CAP_INFO, and join my new WEBSITE.Coach Del Rio: "Respect every opponnent, and fear nobody." |
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Last Login: Today @ 3:00 AM
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| | The remaining four EFAs signed their tenders this past week. This has no effect on the cap as tenders count against the cap as soon as they are offered. On top of that, their amounts don't even qualify as being among the team's 51 most expensive. Wyche and Estandia signed on for the year at the $370,000 rate. They'll be EFAs again next year. Mincey and Fudge signed on at the $445,000, and like Montell Owens who signed on a couple weeks ago, they'll be RFAs next year. My estimate remains at $26.2 mil under the cap.
'02
Check out my CAP_INFO, and join my new WEBSITE.Coach Del Rio: "Respect every opponnent, and fear nobody." |
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| Jags02 (3/29/2008)
The remaining four EFAs signed their tenders this past week. This has no effect on the cap as tenders count against the cap as soon as they are offered. On top of that, their amounts don't even qualify as being among the team's 51 most expensive.Wyche and Estandia signed on for the year at the $370,000 rate. They'll be EFAs again next year. Mincey and Fudge signed on at the $445,000, and like Montell Owens who signed on a couple weeks ago, they'll be RFAs next year. Additionally, back on March 19th, first-year TE Anthony Pudewell was waived, although cap hit was not among the 51 most expensive meaning this move does not effect the cap. My estimate remains at $26.2 mil under the cap.
'02
Check out my CAP_INFO, and join my new WEBSITE.Coach Del Rio: "Respect every opponnent, and fear nobody." |
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Last Login: Today @ 3:00 AM
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| Here's what we already knew about Garrard's new deal...- His contract total is $60 mil
- He received a $9 mil signing bonus
- His "guaranteed" money is $18 mil (reports varied between $18 and $20 mil, but $18 mil makes more sense with how I'm looking at the numbers)
- His extension is for six additional years
His base salaries are now being listed at the nflpa site. They are as follows... - 2008: $2,975,000
- 2009: $5,475,000
- 2010: $7,975,000
- 2011: $7,975,000
- 2012: $8,475,000
- 2013: $8,975,000
- 2014: $8,975,000
For all the numbers to work out, it makes sense that Garrard is getting an additional $25,000 workout bonus in each year. Adding up his base salaries and workout bonuses brings us to $51 mil. Well, since his contract total is only $60 mil, that means the only additional money must be the reported $9 mil signing bonus. Keep in mind that Garrard had $500,000 in amortization from his old deal that needs to be accounted for this year. Now if you add that $500,000 SB hit to his new $9 mil signing bonus, and then guarantee his first two years base salary, you're right at his $18 mil guaranteed total. In the end this is basically a flat contract except that the first two years are a little lower. His cap hits as I'm estimating them are as follows... - 2008: $5 mil
- 2009: $7 mil
- 2010: $9.5 mil
- 2011: $9.5 mil
- 2012: $10 mil
- 2013: $10.5 mil
- 2014: $9 mil
If you're trying to figure out how I arrived at these numbers, keep in mind that the $9 mil signing bonus can only be amortized over six years. I'm assuming it was paid immediately and counts through 2013 (as opposed to him getting an option bonus next year instead). I'll update all the Jaguars cap numbers soon, but they're basically just over $23 mil under the cap.
'02
Check out my CAP_INFO, and join my new WEBSITE.Coach Del Rio: "Respect every opponnent, and fear nobody." |
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Last Login: Today @ 3:00 AM
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| | Sensabaugh signed his tender recently as well, although the $1,417,000 tender was already counting in the books meaning the move doesn't change their cap total. What does change their cap total, however, is their offseason workout program since they have to pay everyone who shows up a per diem for their time. At my $25,000 per week estimate, I'm now showing $75,000 in my workouts column. Having plugged everything into my spreadsheet, I'm now showing the Jaguars at $23.57 mil under the cap. BTW, CB Aaron Glenn signed with the Saints making for yet another free agent loss. The chances of getting comp picks in '09 are looking really good.
'02
Check out my CAP_INFO, and join my new WEBSITE.Coach Del Rio: "Respect every opponnent, and fear nobody." |
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Last Login: Today @ 3:00 AM
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| | I recently learned some more about the Beneficial Salary Program. For starters, it is still in effect. The program basically states that as long as a vested vet (that is, a player with at least four accrued seasons) signs a contract with minimum base salaries and no more than $40,000 in additional money (bonuses and/or incentives), that player's team only has to account for the base salary of a player with two accrued seasons plus his additional money. The league then pays the remainder of the player's base salary.
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