In order to prevent us wasting precious years of Patrick Mahomes' career, Veach needs to work some magic this offseason. What's your advice for him? [Reply]
In an interesting twist the Eagles have restructured the contracts of two players most assume are headed out the door in Alshon Jeffery and Malik Jackson.
So odds are they will still be on their way out but the Eagles pulled a nice little cap move that I talked about as a slim possibility regarding Carson Wentz and have mentioned as a way for the Saints to handle Drew Brees if he retires.
The trick the Eagles are attempting to use here is the post June 1 designation but to what I would assume is the maximum extent. Every year the NFL allows you to designate two players as a post June 1 cut which allows you to prevent any future bonus money from accelerating in the current league year.
However there is a caveat and it’s that you have to keep the players cap charge on your roster as is until June 2. So for the Eagles this would be a massive $18.49M for Jeffery and $13.6M for Jackson. That does nothing for the Eagles salary cap woes in 2021 since the savings won’t be realized at the start of the league year, forcing them to cut the players in February at dead money charges of $10.5M and $12.6M respectively.
I would imagine that what the Eagles did here was reduce the players salaries to the minimum (for the sake of easy math lets just call it $1M) in 2021 and add a 2022 league year salary that is worth somewhere around $20M. To ensure that the player is indeed cut and allowed to be a free agent there would need to be some trigger that occurs such as the 2022 salary completely guarantees on the 2nd day of the 2021 league year, forcing Philadelphia to cut the players.
Their 2021 cap charges in this scenario would reduce from $18.49 and $13.6 million to $6.49M and $4.6M, opening up a massive $21 million in cap space for 2021. When they June 1 the players to prevent the 2022 guarantee from kicking in the cap numbers remain at $6.49 and $4.6M until June 2 at which point they will reduce even further to $5.49M and $3.6M. The Eagles would then be on the hook for $5M and $9M for the two players in 2022.
Now I don’t know if this is exactly what they did or did not do but its the way that I would have approached it which makes me think they did something similar. In any event it’s a pretty creative use of the rules. As for why the players would accept such a thing? Well it does ensure their quick release and I’m sure keeps a solid relationship between the agent who rep the players and the organization as well.
Why the timing of the restructure? That’s also due to the rules. The NFL does not allow you to utilize the June 1 release if you renegotiate a players contract after the last regular season game basically to prevent this situation from occurring. So Philadelphia took full advantage of it here at the last minute,
Had the Eagles just played the contracts as normal they would have saved just $8.937M on the cap by releasing these two players as normal cuts. Now they should have an extra $12M on top of that. Its a brilliant move that really helps a rough cap situation next year. [Reply]
Wish they'd go ahead and cut Kelce so we could sign him.
I think priority number one for the Chiefs, like it or not, is addressing the #2 WR position this offseason. There's alot of smoke out there about i. [Reply]
Originally Posted by htismaqe:
Cutting Kelce would create $10M in dead cap money from what I understand. I don't think it's likely they let him go.
Nah, they can move-on from Kelce and it will create $5.5 million in cap space, they just have to do it after June 1.
"It remains to be seen if Kelce, who turns 34 in November, still wants to keep playing football. The feeling here is that he shouldn’t want to sacrifice his body for a “retooling” Eagles team. If Kelce retires, it likely wouldn’t come until after June 1, since doing it before would cause the Eagles to actually lose cap space. The guess here is the Eagles might actually trade Kelce after June 1. The Kansas City Chiefs are a logical landing spot since they have Andy Reid, Travis Kelce, and a quality chance to make it to their third straight Super Bowl. Also helps that the Chiefs currently don’t have a center under contract for 2021. Trading Kelce doesn’t help the Eagles get under the cap this year but it would give them $5.5 million to roll over for 2022."
Originally Posted by htismaqe:
Cutting Kelce would create $10M in dead cap money from what I understand. I don't think it's likely they let him go.
Something must be weird in the structuring of his contract. Overthecap shows that all the way through 2024 there's really no cap savings each year for releasing him. [Reply]
Originally Posted by wachashi:
Nah, they can move-on from Kelce and it will create $5.5 million in cap space, they just have to do it after June 1.
"It remains to be seen if Kelce, who turns 34 in November, still wants to keep playing football. The feeling here is that he shouldn’t want to sacrifice his body for a “retooling” Eagles team. If Kelce retires, it likely wouldn’t come until after June 1, since doing it before would cause the Eagles to actually lose cap space. The guess here is the Eagles might actually trade Kelce after June 1. The Kansas City Chiefs are a logical landing spot since they have Andy Reid, Travis Kelce, and a quality chance to make it to their third straight Super Bowl. Also helps that the Chiefs currently don’t have a center under contract for 2021. Trading Kelce doesn’t help the Eagles get under the cap this year but it would give them $5.5 million to roll over for 2022."
Originally Posted by Lilmrp117:
No way do I want Agholor's rock hands. Give me Curtis Samuel who led the league in catch percentage.
Yeah Agholor also seemingly fixed that and had a great year in oakland. He'd be an amazing 3rd option here even if he did have a couple drops here and there.
