Salary Cap Discussion: 2021 and beyond

[Bwestbrook36]

26 minutes ago, time2rock said:

They’ve already picked up his 5th year option ... the deadline to do so was last May. 

https://theeagleswire.usatoday.com/2020/04/27/eagles-nfl-derek-barnett-fifth-year-option/

It becomes fully guaranteed "at the start of the league year of his fifth (option) year”.

https://frontofficenfl.com/2020/06/04/2020-nfl-cba-explained-5th-year-option-in-rookie-contracts/

Oh ok my mistake then

[time2rock]

Two more moves made to free up cap space (whether to get under 2021 cap by 4pm or just in general to give us the flexibility to sign a low level FA or 2) ... contracts for both Elliott and McLeod restructured.  

https://profootballtalk.nbcsports.com/2021/03/17/eagles-restructure-jake-elliott-rodney-mcleod/

[Mike030270]

Jake has regressed since getting paid

[Cochis_Calhoun]

Sportrac and Over The Cap still has us $14.5 mill over, even with the McLeod and Elliott restructures we still need upwards of $10million, Ertz is $4million tops. I just don't see Barnett signing a contract at the sort of level he'd have to, to save enough to get under the cap, he's the only significant saving left available.

Edit: Hang on have they confirmed Malik and Jeffery's release yet?

[Road to Victory]

15 minutes ago, Cochis_Calhoun said:

Sportrac and Over The Cap still has us $14.5 mill over, even with the McLeod and Elliott restructures we still need upwards of $10million, Ertz is $4million tops. I just don't see Barnett signing a contract at the sort of level he'd have to, to save enough to get under the cap, he's the only significant saving left available.

Edit: Hang on have they confirmed Malik and Jeffery's release yet?

Malik and Jeffery’s cap numbers are a little more complicated since they’ll most likely be June 1st designees. I don’t think we get the full cap relief until June 1st.

[time2rock]

1 hour ago, Cochis_Calhoun said:

Sportrac and Over The Cap still has us $14.5 mill over, even with the McLeod and Elliott restructures we still need upwards of $10million, Ertz is $4million tops. I just don't see Barnett signing a contract at the sort of level he'd have to, to save enough to get under the cap, he's the only significant saving left available.

Edit: Hang on have they confirmed Malik and Jeffery's release yet?

Yeah last time I saw (before the McLeod and Elliott restructures) we were still somewhere between $17-18M over and then I saw some recent "reports" stating we were now under the cap.  There is some misinformation out there for sure.  

[Guest]

1 hour ago, Cochis_Calhoun said:

Sportrac and Over The Cap still has us $14.5 mill over, even with the McLeod and Elliott restructures we still need upwards of $10million, Ertz is $4million tops. I just don't see Barnett signing a contract at the sort of level he'd have to, to save enough to get under the cap, he's the only significant saving left available.

Edit: Hang on have they confirmed Malik and Jeffery's release yet?

 

11 minutes ago, time2rock said:

Yeah last time I saw (before the McLeod and Elliott restructures) we were still somewhere between $17-18M over and then I saw some recent "reports" stating we were now under the cap.  There is some misinformation out there for sure.  

Neither site has updated for the Brooks, Graham, Elliot and McLeod restructure.  OTC shows 14.4 over after the Goodwin revert.

[time2rock]

7 hours ago, Cochis_Calhoun said:

Sportrac and Over The Cap still has us $14.5 mill over, even with the McLeod and Elliott restructures we still need upwards of $10million, Ertz is $4million tops. I just don't see Barnett signing a contract at the sort of level he'd have to, to save enough to get under the cap, he's the only significant saving left available.

Edit: Hang on have they confirmed Malik and Jeffery's release yet?

The release of both Jackson and Jeffery wasn’t made official until after the start of the new league year in order to qualify as a post June 1 designation.

https://profootballtalk.nbcsports.com/2021/03/17/eagles-release-malik-jackson-alshon-jeffery/

[Cochis_Calhoun]

So we haven't restructured Barnett but somehow we were cap compliant, I mean it's a good thing but how did we do it? 

[UK_EaglesFan89]

8 minutes ago, Cochis_Calhoun said:

So we haven't restructured Barnett but somehow we were cap compliant, I mean it's a good thing but how did we do it? 

Long term pain for short term compliance my friend. 

[John Blutarski]

I think they should be roughly 8M under if you factor in the Elliot, McLeod, Graham, Brooks restructures and the Jeffrey/Jackson post 6/1 cuts. Of that 8M, they need 5-6 I would think to sign all the draft picks.

[pallidrone]

3 hours ago, John Blutarski said:

I think they should be roughly 8M under if you factor in the Elliot, McLeod, Graham, Brooks restructures and the Jeffrey/Jackson post 6/1 cuts. Of that 8M, they need 5-6 I would think to sign all the draft picks.

Don't they carry an extra $4 million until June 1st from Alshon and Jackson? I would imagine they may end up signing their draft picks late.

[John Blutarski]

29 minutes ago, pallidrone said:

Don't they carry an extra $4 million until June 1st from Alshon and Jackson? I would imagine they may end up signing their draft picks late.

I'm not sure if that $4M savings will show up now or not until 6/1. Good question.

[time2rock]

1 hour ago, pallidrone said:

Don't they carry an extra $4 million until June 1st from Alshon and Jackson? I would imagine they may end up signing their draft picks late.

Yes, they will see an additional $4M (total) in cap relief on June 1.  Dave Zangaro recently wrote a piece that breaks down nicely how the restructures of both Jeffery's and Jackson's contracts (and using the post June 1 designation on them both) impacts the cap (both in 2021 and 2022).

• For Jeffery, the restructure reduced his 2021 cap hit from $18.5M to $7.6M.  They need to carry the full $7.6M until June 1 ... at that point they'll get an additional $2M in cap relief.  The move also created $5.5M in dead money against the 2021 cap and an additional $5.4M in dead money against the 2022 cap.
• For Jackson, the restructure reduced his 2021 cap hit from $13.6M to $5.6M.  Like Jeffery, they need to carry the full $5.6M until June 1 ... at that point they'll get an additional $2M in cap relief.  The move also created $3.6M in dead money against the 2021 cap and an additional $9M in dead money against the 2022 cap.

https://www.nbcsports.com/philadelphia/eagles/nfl-salary-cap-alshon-jeffery-malik-jackson-release-cut-nfl-free-agency

[Guest]

Cap update today.  Does not appear the full impact of the Brooks restructure or the Anthony Harris contract is included.

Howie has now taken 77.3 million off the cap the next two years with all his restructures.

 

	2021 ( 68 )	2022 ( 37 )	2023 ( 22 )	2024 ( 6 ) ( 10 )	2025 ( 1 ) ( 9 )
Projected Cap	$182,500,000.00	$203,000,000.00	$225,000,000.00	$256,000,000.00
Start - 03-04	$43,187,668.00	$73,325,877.00	$136,813,917.00	$207,502,060.00
Slay update - 03-05	$34,297,668.00	$71,140,877.00	$134,528,917.00	$202,932,060.00	$230,456,000.00
Kelce update - 03-10	$29,272,668.00	$43,455,877.00	$112,373,917.00	$204,332,060.00	$233,706,000.00
Seumalo update - 03-10	$26,873,468.00	$43,365,877.00	$109,631,917.00	$204,948,060.00	tbd after Seumalo
Hargrave update - 03-11	$17,465,468.00	$41,013,877.00	$102,575,917.00	$204,948,060.00	tbd after Hargrave
Malik & Alshon release 03/18	$14,445,022.00	$35,079,877.00	$106,506,917.00	$206,759,060.00	tbd
03/23 Update	$3,986,833.00	$30,213,277.00	$102,567,917.00	$197,850,060.00	tbd
Difference	$39,200,835.00	$43,112,600.00	$34,246,000.00	$9,652,000.00
	Total impact 2022-23	$77,358,600.00

[time2rock]

1 hour ago, downundermike said:

Cap update today.  Does not appear the full impact of the Brooks restructure or the Anthony Harris contract is included.

Howie has now taken 77.3 million off the cap the next two years with all his restructures.

 

 

	2021 ( 68 )	2022 ( 37 )	2023 ( 22 )	2024 ( 6 ) ( 10 )	2025 ( 1 ) ( 9 )
Projected Cap	$182,500,000.00	$203,000,000.00	$225,000,000.00	$256,000,000.00
Start - 03-04	$43,187,668.00	$73,325,877.00	$136,813,917.00	$207,502,060.00
Slay update - 03-05	$34,297,668.00	$71,140,877.00	$134,528,917.00	$202,932,060.00	$230,456,000.00
Kelce update - 03-10	$29,272,668.00	$43,455,877.00	$112,373,917.00	$204,332,060.00	$233,706,000.00
Seumalo update - 03-10	$26,873,468.00	$43,365,877.00	$109,631,917.00	$204,948,060.00	tbd after Seumalo
Hargrave update - 03-11	$17,465,468.00	$41,013,877.00	$102,575,917.00	$204,948,060.00	tbd after Hargrave
Malik & Alshon release 03/18	$14,445,022.00	$35,079,877.00	$106,506,917.00	$206,759,060.00	tbd
03/23 Update	$3,986,833.00	$30,213,277.00	$102,567,917.00	$197,850,060.00	tbd
Difference	$39,200,835.00	$43,112,600.00	$34,246,000.00	$9,652,000.00
	Total impact 2022-23	$77,358,600.00

He created such a deep hole (and of course couldn’t predict a pandemic messing with revenue and in turn the cap) that he didn’t have much other choice to get cap compliant this year.  

[Guest]

15 minutes ago, time2rock said:

He created such a deep hole (and of course couldn’t predict a pandemic messing with revenue and in turn the cap) that he didn’t have much other choice to get cap compliant this year.  

Regardless of the pandemic, the cap was probably going to be 205 million this year, we still would have been 20.6 million over the original projected cap.  The whole league had to deal with the pandemic, and the Eagles will still be in the bottom 3rd of the league the next 3 years in cap space, regardless of the cap number.  Then you add to that the bulk of the cap dollars are tied to guys over 30, some who have had multiple years of injury shortened seasons, and some of them you can not get out of the cap hit until 2024.  

Edited to add what I just posted in the blog

As of March 4th, we had 73.3 million in cap room for 2022 and 136.8 million in cap room for 2023.

Today, March 23rd, before the full details of the Brooks restructure, we have 30.2 million in cap room for 2022, and 102.5 million in cap room for 2023.

Yes, you are reading that correctly.  In 3 weeks with the restructuring, Howie has taken 43.1 million off the 2022 cap, and 34.2 million off the 2023 cap.

2023, we have 42.5% of our cap allocated to the following players.  Hargrave, Kelce and Graham, there is no savings to release these players in 2023, and Graham if released adds 8.9 million to the dead cap hit.  This problem is not going to go away.

	Age in	Cap Hit
	2023
Slay	33	$23,035,000.00
Lane	34	$21,319,998.00
Brooks	35	$16,782,237.00
Hargrave	31	$11,986,000.00
Kelce	37	$9,069,000.00
Graham	36	$7,935,000.00
Elliott		$5,331,000.00
	Total	$95,458,235.00

[Guest]

@time2rock, my last post in the blog, it really is very bleak the further you dive in.

2023 numbers are based on the expected cap with the new TV deal of 225 million.  You do know that if the cap goes up, it goes up for everyone, correct ??

Right now we are 22nd in 2022 cap space, 27th in 2023 cap space, and and 22nd in 2024 cap space.  We also have major cap hits tied to 32+ year old players, and dummy years for players who will not even be on the roster.

2024 shows we have 10 players under contract with a cap allocation of 58 million, 22% of the projected 256 million cap for that year.  I believe 5 of those are dummy years to spread out cap hits.

[Guest]

Here is todays update.

3 weeks ago, all the Howie loyalists talked about one rough  year, but we will have 73 million in cap space in 2022.

Here we are, with 26.7 million in cap space for 2022.

[time2rock]

1 hour ago, downundermike said:

Here is todays update.

3 weeks ago, all the Howie loyalists talked about one rough  year, but we will have 73 million in cap space in 2022.

Here we are, with 26.7 million in cap space for 2022.

I'm sure a large part of that $47M delta was due to the moves he was forced to make to get out of that extreme hole he put us in.  

[Guest]

4 minutes ago, time2rock said:

I'm sure a large part of that $47M delta was due to the moves he was forced to make to get out of that extreme hole he put us in.  

Obviously, but had to point out 3 weeks ago all would be OK because of the 73M 2022 cap number.  Tried to tell people then this would happen.

I still don't think they have the full impact of the Brooks restructure figured in, plus the cap number for the draft picks, and any players you want to re sign or extend, that number is going to be lower.

[John Blutarski]

Looks like the Flacco and Harris signings are now reflected on overthecap. ~$1.5M this year cap hit for each of them since Howie did his usual void years. So they'll have some dead money each year for Flacco until he's 40 lol. 

Same thing with Harris. We get one year of play out of him, then dead money cap hits for 4 additional years after he's gone.

[Cochis_Calhoun]

As far as I can see they need the Barnett restructure and the Ertz cut to get the money to sign draft picks, I'd go as far as to suggest we may be forced to trade out of #6 to afford our first rounders salary, the contract value for #6 picks the last 2 years has been $25.6million and $26.6million, rookie minimum Salary for 2021 is $660k, so if we structure our first round picks contracts like the last 2 #6 picks, you vet minimum the basic salary first year, and prorate ~$17million as a signing bonus,  you're looking at a minimum cap hit this year of somewhere around $5million dollars.

I just don't see how we pay that and sign the other 10 picks and get under the cap, so I think we'll trade back to mid round, which as I have stated many many times about many cap issues this year would make Howie Roseman's continuing employment by the Eagles absolutely indefensible.

 

[time2rock]

1 hour ago, John Blutarski said:

Looks like the Flacco and Harris signings are now reflected on overthecap. ~$1.5M this year cap hit for each of them since Howie did his usual void years. So they'll have some dead money each year for Flacco until he's 40 lol. 

Same thing with Harris. We get one year of play out of him, then dead money cap hits for 4 additional years after he's gone.

I get the need to sign a vet backup QB - probably not the best idea to go into a season with Hurts having only 4 games under his belt and then a couple of rookies rounding out the depth chart.  The only way the Harris signing makes sense is if they are considering 2021 an audition and would consider signing him longer term (relatively speaking) after 2021.  Otherwise why not just play the young guys and not negatively impact the future cap further than it already is?  I swear Howie has no idea what he is doing anymore ... most of his moves seem random and he is continuing to keep an eye on competing in 2021 while also trying to focus on getting us in the best shape to compete in the future (can't do both).  

[Perforator]

1 hour ago, John Blutarski said:

Looks like the Flacco and Harris signings are now reflected on overthecap. ~$1.5M this year cap hit for each of them since Howie did his usual void years. So they'll have some dead money each year for Flacco until he's 40 lol. 

Same thing with Harris. We get one year of play out of him, then dead money cap hits for 4 additional years after he's gone.

I am so glad we have the cap wizard Howie Roseman. Otherwise we would be screwed.