Added a year and cleared $10 million in 2023 cap space.
 

 

He's talked about wanting to be with his kids more so I'm surprised.

What happens if he were to decide to retire in 2024?

3 minutes ago, Mike030270 said:

He's talked about wanting to be with his kids more so I'm surprised.

What happens if he were to decide to retire in 2024?

Good Question ... or 2025 etc ...

Not sure if the info is correct, but I am hearing that with the Lane cap space created (10 mil) ... we now have over 23 mil in Cap Space? Anyone have updated info to confirm?

14 minutes ago, Rey said:

Not sure if the info is correct, but I am hearing that with the Lane cap space created (10 mil) ... we now have over 23 mil in Cap Space? Anyone have updated info to confirm?

That’s just adding the ~9M saved added to the projected ~14M in OTC

34 minutes ago, Mike030270 said:

He's talked about wanting to be with his kids more so I'm surprised.

What happens if he were to decide to retire in 2024?

It's a good question, by all accounts, he's created cap space this year and next by moving salary into bonuses through 2027 (I guess those void years '26-'28 that contained no guaranteed money now do) it depends what the $30million guaranteed is made up of, if he's signing as a cap favor to Howie and it's his existing $21million of bonuses from his old contract plus $10million of this years basic salary guaranteed and prorated as bonus then it'd be $30million dead cap in '24,  but surely there has to be new money in there to persuade him to extend by a year or the NFLPA and / or the League would cry foul, in which case you'd be getting beyond Wentz level dead cap hit.

Howie has to have had assurances that he'll play on.

 

This is very likely just a regular old contract restructuring dressed up in an extension's clothing.  I posted about it in another thread, but I'll basically repeat that here:

There is unlikely to be any new money in the extension -- ultimately it is simply about timing the cap hit of the contract Lane already signed.

Lane's contract called for him to be paid $14,155,000 in salary in 2023 (the vast majority of which was guaranteed) plus a $250k workout bonus, and there was about $9.8M of prior bonus to apply to the 2023 cap, for a total cap allocation of about $24.2M in 2023.  The extension will undoubtedly split that salary into $1.165M in 2023 salary (the NFL minimum salary for players with Lane's experience) and $12,990,000 to be paid immediately as an extension signing bonus.  That extension signing bonus will get allocated to the salary cap evenly over the four years of the extension (i.e., about $3.25M each year from 2023 through 2026).  So Lane's cap allocation for 2023 will be $1.165M salary + $250k workout bonus + $9.8M prior bonus allocation + $3.25M new extension bonus allocation = about $14.5M.  That is very close to the $14.8M a source in the article says is the new 2023 cap allocation.

Lane's contract called for him to be paid a total of $14.9M in 2024 ($13.4M in salary, $1.25M in roster bonus, $250k in workout bonus), but only $1.25M was guaranteed.  Combine what his contract calls for him to be paid in 2023 with that, and it comes very close to $29M.  The extension was announced as $30M guaranteed, so the extension would include a new guarantee of his 2024 salary, and they would have worked another $1M into a guarantee somehow.  Moving, say, $1M of salary from 2025 to the extension signing bonus would do it, and also account for the $0.3 difference in 2023 cap allocation.

Ultimately, this likely only moves something like $3.25M of the cap hit past 2025, which will probably end up as a dead cap hit in 2026 (or maybe 2025 if Lane retires).  So, yeah, kicking the can down the road, but not really that big a deal.

These types of extensions are not "favors" done by the player .... the player gets very tangible benefits for doing nothing but signing their name.  Lane gets almost all his 2023 money immediately instead of during the season, an extra year of salary guaranteed, and maybe a little sweetener of some kind (such as $1M pushed up from 2025 to the extension signing bonus).  The Eagles take on some risk by guaranteeing the 2024 salary, but not much -- Lane's performance has not been slipping so there is little reason to think they would want to move on from him a season from now.

4 hours ago, Rey said:

Good Question ... or 2025 etc ...

If he retired before 2024, he would forfeit the newly guaranteed salary, for one thing, which seems unlikely.  And if before either 2024 or 2025, like with any other player who is cut or retires, the salary cap hit would accelerate into the current year ... the extension would likely have very little new effect because I don't think there is any new money to be accelerated in the extension.

And there’s the yearly Lane restructuring. Did Howie give him 33mil to basically hold for a 2026 restructuring? 😂

17 hours ago, Mike030270 said:

He's talked about wanting to be with his kids more so I'm surprised.

What happens if he were to decide to retire in 2024?

He walks off in to the sunset and we have a major issue both at RT and with the cap. That’s the risk I guess Howie takes with these restructures. And I think year by year we are seeing a larger dead cap hit as a result.