Howie Continues to Kick the Can Down the Road (Restructures Cox's Contract)

[Mike030270]

9 hours ago, xxeaglesfanxx said:

They needed to free up some space for next year so good idea. Still a few more dead weight players that need to go though.

I think this added to next years cap

[eephraim]

On 10/21/2020 at 1:13 PM, Godfather said:

Cox has been declining the past 2 seasons

Oh boy.

[NOTW]

12 hours ago, xxeaglesfanxx said:

They needed to free up some space for next year so good idea. Still a few more dead weight players that need to go though.

That's not what he did.  He freed cap THIS year and moved it to NEXT year which is already in bad shape.  Hence the title that he kicked the can down the road.  He made 2021 WORSE than it is.

[Godfather]

1 hour ago, eephraim said:

Oh boy.

Prove me wrong

[Godfather]

On 10/21/2020 at 2:47 PM, 20dawk4life said:

He was our best player vs the ravens. 

1 game. He was ok last night. Nothing like we're use to watching. Where has he been the past 1.5 plus season? He's been declining. Maybe it's the injuries

[erformc]

I thought this might be Cox's final year with the team, given the 2021 cap problems. However, this restructure virtually guarantees he'll be here in 2021, but is likely gone after that.

Assuming they can't trade him, and he's "regular" cut, it will save $10.6M in cap space in 2022, but also carry a $13.1M dead $$.

If he's designated as a post June 1st cut, it will save $17.1M in cap space in 2022. The dead $$ hit would be $6.7M in 2022 and and $6.4M in 2023.

[UK_EaglesFan89]

15 minutes ago, erformc said:

I thought this might be Cox's final year with the team, given the 2021 cap problems. However, this restructure virtually guarantees he'll be here in 2021, but is likely gone after that.

I really don't know how Howie is going to get under the cap if trading Cox isn't one of the moves he is going to make. 

[erformc]

42 minutes ago, UK_EaglesFan89 said:

I really don't know how Howie is going to get under the cap if trading Cox isn't one of the moves he is going to make. 

With the rollover considered, the Eagles are $68M over the cap as of now. To get under the cap without trading Cox, here's the decisions they'll have to make. (The savings amounts listed are for 2021, and are "net" of the dead cap charge in the year the player is cut)

Post June 1 Cut Designations:
1.Brandon Graham - $13M savings (dead cap charge of $12.2M in 2022)

2. Malik  Jackson - $10M savings (dead cap charge of  $9M in 2022)

3. Alshon Jeffrey - $13M savings (dead cap charge of $5M in 2022)

Cuts

1. DeSean Jackson - $5.1M savings

2. Marquis Goodwin - $4.3M savings

The above moves save a total of $45.4M, meaning there is still $22.6M to cut. Possible ways to get there:

1. Convert Lane Johnson's entire salary to SB -$6.9M savings, adds $1.7M to cap from 2022-2026

2. Convert Carson's entire Roster Bonus to SB - $7M savings, adds $2.4M to cap from 2022-2025

3. Extend Derek Barnett to contract worth $52M over 5 years w/ $27M fully guaranteed ($18M SB, $2M 2021 salary, $7M 2022 salary) - $4.8M savings

4. Trade or cut Zach Ertz - $4.7M savings

Assuming those 4 moves, they will be about $750k  under the cap, but they still need to cut. Here are some further possibilities.

1. Convert Brandon Brooks entire salary to SB -  $7M savings, adds $2.3M to cap from 2022-2025

2. Convert $8M of Carson's $15.4M salary to SB - $6M savings  adds $2M to cap from 2022-2025

3. Convert $7M of Darius Slay's contract to SB - $4.7M savings, adds $2.1M to cap from 2022-2023)

4. Cut Jason Kelce w/ a post 6/1 designation -  $5.5M savings (dead cap charge of $7.2M in 2022)

5. Cut JJ Arcega-Whiteside -  $1M savings (dead cap charge of $450k in 2022)

Keep in mind that the problem with converting Salary/Roster Bonus's to Signing Bonus's is that it increases the dead cap hit in future years (and thus reduces the savings) when you inevitably cut the person.

For example, Darius Slay's contract was, in reality, a 2 year deal for $26M. The plan was to either extend or (more likely) cut him after 2021. Doing so would save them $13M in 2022 (even with the $6.5M dead money charge). However, by converting $7M of his 2021 salary to SB, cutting him after the 2021 season would result in a net savings of only $10M, and would carry and $11M dead money charge)

[UK_EaglesFan89]

1 minute ago, erformc said:

1.Brandon Graham - $13M savings (dead cap charge of $12.2M in 2022)

2. Malik  Jackson - $10M savings (dead cap charge of  $9M in 2022)

That's a pretty big hit to take along the DL there though bud. I mean BG is having a pretty big year so far and I think may have to be part of the rotation next year. I'm not saying that's ideal, we need to get younger, but I'm not sure this team have much choice... Barnett is good but he's not a #1 and they have to manage Sweat.

2 minutes ago, erformc said:

Keep in mind that the problem with converting Salary/Roster Bonus's to Signing Bonus's is that it increases the dead cap hit in future years (and thus reduces the savings) when you inevitably cut the person.

Yeah and the problem there is eventually it bites you. Eventually you end up with a lot of dead cap space for a lot of players who are no longer on your team. 

[paco]

Overthecap hasn't been updated yet.  But this is what we were looking at before the restructure

Year	Age	Base Salary	Prorated Bonus	Roster Bonus		Guaranteed Salary		Cap Number	Cap %		Dead Money & Cap Savings Cut (pre-June 1)Cut (post-June 1)Trade (pre-June 1)Trade (post-June 1)RestructureExtension
2016	26	$1,299,000	$5,200,000	$0		$1,299,000		$6,499,000	4.0%
2017	27	$3,000,000	$6,400,000	$0		$3,000,000		$9,400,000	5.3%
2018	28	$3,310,000	$8,038,000	$0		$3,310,000		$11,348,000	6.4%
2019 📝	29	$930,000	$10,972,000	$0		$830,000		$11,902,000	6.0%
2020 📝	30	$4,035,294	$13,079,941	$1,000,000		$0		$18,115,235	8.2%		$34,114,706	($15,999,471)
2021 📝	31	$15,000,000	$7,879,941	$1,000,000		$0		$23,879,941	12.1%		$21,034,765	$2,845,176
2022 📝	32	$16,100,000	$6,679,941	$1,000,000		$0		$23,779,941	10.5%		$13,154,824	$10,625,117
2023	33	$0	$5,041,941	$0		$0		$5,041,941	2.1%		$6,474,883	($1,432,942)
2024	34	$0	$1,432,942	$0		$0		$1,432,942	0.6%		$1,432,942	$0

 

I'm still trying to figure this one out.  On the surface, this just isnt logical.  I have to be missing something.

[erformc]

20 minutes ago, paco said:

Overthecap hasn't been updated yet.  But this is what we were looking at before the restructurE

I'm still trying to figure this one out.  On the surface, this just isnt logical.  I have to be missing something.

 

That is the update after the most recent restructuring.  Notice the reduced 2020 salary and the addition of another "dummy year”. 

[paco]

1 minute ago, erformc said:

 

That is the update after the most recent restructuring.  Notice the reduced 2020 salary and the addition of another "dummy year”. 

Ah, ok.  Thank you. They have a blurb with all the contract history and I didn't see the 2020 update so assumed that the chart wasn't updated.

[erformc]

2 hours ago, UK_EaglesFan89 said:

That's a pretty big hit to take along the DL there though bud. I mean BG is having a pretty big year so far and I think may have to be part of the rotation next year. I'm not saying that's ideal, we need to get younger, but I'm not sure this team have much choice... Barnett is good but he's not a #1 and they have to manage Sweat.

Yeah and the problem there is eventually it bites you. Eventually you end up with a lot of dead cap space for a lot of players who are no longer on your team. 

I agree it’s a big hit along the DL but it’s impossible to get under the cap without cutting BG and Malik because they have the biggest cap hits. They’re painted into a corner thanks to the constant conversions of salary to signing bonus and the use of "dummy years”. 

[NOTW]

1 hour ago, erformc said:

With the rollover considered, the Eagles are $68M over the cap as of now. To get under the cap without trading Cox, here's the decisions they'll have to make. (The savings amounts listed are for 2021, and are "net" of the dead cap charge in the year the player is cut)
 

Not quoting the entire post for space sake. I appreciate the effort you put in there, shows at least an approach to it. 

I would swap: release Brooks, and I would not cut Kelce. He's a beast, still playing at a high level. He's signed through 2021, extend him through 2022 or maybe 2023 if it's team friendly. Then he retires an Eagle. Maybe even sooner. 

I would consider trading Lane Johnson. I love the guy  but injuries mounting and he's signed through 2025! And can't rely on him with injury now. Go young except Kelce, Seumalo the next oldest.

[paco]

1 hour ago, erformc said:

Spoiler

 

With the rollover considered, the Eagles are $68M over the cap as of now. To get under the cap without trading Cox, here's the decisions they'll have to make. (The savings amounts listed are for 2021, and are "net" of the dead cap charge in the year the player is cut)

Post June 1 Cut Designations:
1.Brandon Graham - $13M savings (dead cap charge of $12.2M in 2022)

2. Malik  Jackson - $10M savings (dead cap charge of  $9M in 2022)

3. Alshon Jeffrey - $13M savings (dead cap charge of $5M in 2022)

Cuts

1. DeSean Jackson - $5.1M savings

2. Marquis Goodwin - $4.3M savings

The above moves save a total of $45.4M, meaning there is still $22.6M to cut. Possible ways to get there:

1. Convert Lane Johnson's entire salary to SB -$6.9M savings, adds $1.7M to cap from 2022-2026

2. Convert Carson's entire Roster Bonus to SB - $7M savings, adds $2.4M to cap from 2022-2025

 

3. Extend Derek Barnett to contract worth $52M over 5 years w/ $27M fully guaranteed ($18M SB, $2M 2021 salary, $7M 2022 salary) - $4.8M savings

Spoiler

 

4. Trade or cut Zach Ertz - $4.7M savings

Assuming those 4 moves, they will be about $750k  under the cap, but they still need to cut. Here are some further possibilities.

1. Convert Brandon Brooks entire salary to SB -  $7M savings, adds $2.3M to cap from 2022-2025

2. Convert $8M of Carson's $15.4M salary to SB - $6M savings  adds $2M to cap from 2022-2025

3. Convert $7M of Darius Slay's contract to SB - $4.7M savings, adds $2.1M to cap from 2022-2023)

4. Cut Jason Kelce w/ a post 6/1 designation -  $5.5M savings (dead cap charge of $7.2M in 2022)

5. Cut JJ Arcega-Whiteside -  $1M savings (dead cap charge of $450k in 2022)

Keep in mind that the problem with converting Salary/Roster Bonus's to Signing Bonus's is that it increases the dead cap hit in future years (and thus reduces the savings) when you inevitably cut the person.

For example, Darius Slay's contract was, in reality, a 2 year deal for $26M. The plan was to either extend or (more likely) cut him after 2021. Doing so would save them $13M in 2022 (even with the $6.5M dead money charge). However, by converting $7M of his 2021 salary to SB, cutting him after the 2021 season would result in a net savings of only $10M, and would carry and $11M dead money charge)

 

 

First, excellent post.

 

Second, I wanted to address one non hidden piece.  There is an alternative, and cut\trade him.  That saves 10 million.

 

Not that I necessarily agree with it.... but that is an alternative.

[erformc]

22 minutes ago, NOTW said:

Not quoting the entire post for space sake. I appreciate the effort you put in there, shows at least an approach to it. 

I would swap: release Brooks, and I would not cut Kelce. He's a beast, still playing at a high level. He's signed through 2021, extend him through 2022 or maybe 2023 if it's team friendly. Then he retires an Eagle. Maybe even sooner. 

I would consider trading Lane Johnson. I love the guy  but injuries mounting and he's signed through 2025! And can't rely on him with injury now. Go young except Kelce, Seumalo the next oldest.

You can’t cut Brooks. His 2021 salary is guaranteed and if you cut or trade him, his 2021 cap number jumps from $14M to a dead cap hit of $22M. You still lose cap space if you designate him as a post 6/1 cut. 
 

As for Kelce, his contract is up after 2021. If you don’t think you’re going to compete for a Super Bowl next year, it really makes no sense to keep him. Let Seumalo or Herbig take over at C to stay younger and cheaper. 
 

Lane Johnson is also untradeable. Doing so would cause a $29M dead cap charge in 2021. 

[erformc]

22 minutes ago, paco said:

 I wanted to address one non hidden piece.  There is an alternative, and cut\trade him.  That saves 10 million.

 

Not that I necessarily agree with it.... but that is an alternative.

Normally I’d agree but Brandon Graham and Malik Jackson are inevitable cap casualties. You can’t lose your starting DEs in the same offseason, nor can you go into next year with Josh Sweat as a starter because if his injury history. Even if you draft a DE in the first round, without Barnett you’d still need to find another starting DE, and you’re not going to get one in free agency because there’s no money to spend. 

[paco]

20 minutes ago, erformc said:

Normally I’d agree but Brandon Graham and Malik Jackson are inevitable cap casualties. You can’t lose your starting DEs in the same offseason, nor can you go into next year with Josh Sweat as a starter because if his injury history. Even if you draft a DE in the first round, without Barnett you’d still need to find another starting DE, and you’re not going to get one in free agency because there’s no money to spend. 

No arguments here.  If the belief is that Barnett can stay healthy and be productive, your suggestion makes a ton of sense.

 

I would argue some of your cuts have trade potential.  If we could get *something* like a late pick for BG or maybe even Malik, I'll gladly take a lottery ticket in the draft. (Every now and then a 5th rounder for James Thrash turns into Trent Cole)  Before all the cuts needed to be made, we already have only 46 people under contract for 2021.  Fill them with rookies (that we possibly get from trading the vets), and that will go a long way to righting the ship (balance sheet wise).  

[NOTW]

23 minutes ago, erformc said:

You can’t cut Brooks. His 2021 salary is guaranteed and if you cut or trade him, his 2021 cap number jumps from $14M to a dead cap hit of $22M. You still lose cap space if you designate him as a post 6/1 cut. 
 

As for Kelce, his contract is up after 2021. If you don’t think you’re going to compete for a Super Bowl next year, it really makes no sense to keep him. Let Seumalo or Herbig take over at C to stay younger and cheaper. 
 

Lane Johnson is also untradeable. Doing so would cause a $29M dead cap charge in 2021. 

Ah, so...yeah Howie the "genius" strikes again. 

[Mike030270]

50 minutes ago, NOTW said:

Not quoting the entire post for space sake. I appreciate the effort you put in there, shows at least an approach to it. 

I would swap: release Brooks, and I would not cut Kelce. He's a beast, still playing at a high level. He's signed through 2021, extend him through 2022 or maybe 2023 if it's team friendly. Then he retires an Eagle. Maybe even sooner. 

I would consider trading Lane Johnson. I love the guy  but injuries mounting and he's signed through 2025! And can't rely on him with injury now. Go young except Kelce, Seumalo the next oldest.

I think they just haven't let Lane heal all the way finally. He was an idiot and got the surgery late then played too early and injured and then injured his knee. I think he just needs to heal and do whatever surgeries to fix whatever is wrong now

Brooks is different. He's been injured a lot plus has the anxiety thing

But I'm completely fine with getting their replacements in the depth but just not exactly ready to give up

[erformc]

16 minutes ago, paco said:

No arguments here.  If the belief is that Barnett can stay healthy and be productive, your suggestion makes a ton of sense.

 

I would argue some of your cuts have trade potential.  If we could get *something* like a late pick for BG or maybe even Malik, I'll take a lottery ticket in the draft anyway.  In addition to all the cuts needed to be made, we only have 46 people under contract.  Fill them with rookies (that we possibly get from trading the vets), and that will go a long way to righting the ship (balance sheet wise).  

Both are untradeable. The reason is because trading them is, for salary cap purposes, the same as cutting them as a pre-June 1st cut and you can’t get under the cap without cutting them with the post 6/1 designation. 
 

A BG trade would save only $700k against the cap in 2021 ($17M dead money hit) 

Trading Malik Jackson would result in only $1M in savings ($12M dead money hit)

 

 

[NOTW]

2 minutes ago, Mike030270 said:

I think they just haven't let Lane heal all the way finally. He was an idiot and got the surgery late then played too early and injured and then injured his knee. I think he just needs to heal and do whatever surgeries to fix whatever is wrong now

Brooks is different. He's been injured a lot plus has the anxiety thing

But I'm completely fine with getting their replacements in the depth but just not exactly ready to give up

Lane was hurt last year too. I like him but he is on the decline injury wise, pretty soon it will be production like with Peters.

[erformc]

1 minute ago, Mike030270 said:

I think they just haven't let Lane heal all the way finally. He was an idiot and got the surgery late then played too early and injured and then injured his knee. I think he just needs to heal and do whatever surgeries to fix whatever is wrong now

Brooks is different. He's been injured a lot plus has the anxiety thing

But I'm completely fine with getting their replacements in the depth but just not exactly ready to give up

Brooks is both untradeable and "un-cuttable” due to his guaranteed salary and it would be a dead money charge of $22M in 2021 (he counts $14M if he’s on the team). 

[NOTW]

4 minutes ago, Mike030270 said:

I think they just haven't let Lane heal all the way finally. He was an idiot and got the surgery late then played too early and injured and then injured his knee. I think he just needs to heal and do whatever surgeries to fix whatever is wrong now

Brooks is different. He's been injured a lot plus has the anxiety thing

But I'm completely fine with getting their replacements in the depth but just not exactly ready to give up

Lane was hurt last year too. I like him but he is on the decline injury wise, pretty soon it will be production like with Peters.

[Mike030270]

2 minutes ago, erformc said:

Brooks is both untradeable and "un-cuttable” due to his guaranteed salary and it would be a dead money charge of $22M in 2021 (he counts $14M if he’s on the team). 

He got that contract even though he's been injured and has missed games because of his anxiety. Howie strikes again

2 minutes ago, NOTW said:

Lane was hurt last year too. I like him but he is on the decline injury wise, pretty soon it will be production like with Peters.

I forgot about that. Some reason I thought only Brooks was the one getting injured a lot