If we release him this off-season his cap hit would be 12.75 million. If we keep him his cap hit will be 9.5 million in 2013 and go up to almost 11 million in 2014, and 12 million in 2015. If we june 1st the cut, it costs us around 6.4 million in dead cap space for 2 years.
The problem with restructuring is that it converts salary into a signing bonus which increases the cap in future years. So we could lower his salary from next year's 5.25 million to something like 2.5 million by converting 3 million of the salary to a signing bonus which increases the signing bonus in future years from 4 million to 5 million.
His cap next year goes from 9.5 million to 6.5 million but it bumps up his future yearly signing bonus cap from 4 to 5 million without considering the salary.
Aside from the $20M signing bonus already in Beasons bank, only $5M is guaranteed. Correct me if I am wrong here, but does that not mean that we can cut him without having to pay him more than $4M? (Assuming he has $1M guaranteed each year from now on).
So I do not think we have to change $5.25M into $2.25 salary and $3M bonus to match $5.25M. It should be enough to keep the $1M salary and add $2M signing bonus on top for each year left on the contract.
The will mean a total payout of $33M during the 6 years. Not $50 that was the top figure but still $8 more than was guaranteed (and as those extra $8 is payed as a signing bonus he gets even if he is hurt and cannot play).
Should be doable, unless I have missed something how it works?