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Gross restructured


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#151 Kurb

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Posted 27 March 2013 - 02:03 PM

I've seen the Yas report about the extension, but Reed is saying that it auto voids and that the other years on the contract are dummy years to spread out the signing bonus. If it's an actual extension, then good deal. If it auto voids, very bad deal.



I don't think there is such a thing as an AutoVoiding Contract. Such a statement doesn't even compute in my brain.

Gross could void it if he chooses. That's what I have read twice now. Auto-Voiding just sounds backwards.

#152 SooSlow84

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Posted 27 March 2013 - 02:07 PM

I don't think there is such a thing as an AutoVoiding Contract. Such a statement doesn't even compute in my brain.

Gross could void it if he chooses. That's what I have read twice now. Auto-Voiding just sounds backwards.

Agreed. Hopefully we have him for 2014 as well.

#153 fieryprophet

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Posted 27 March 2013 - 02:12 PM

The Panthers save 6.8m against the cap this year, by converting Gross' 2013 cap of 11.7m to 4.5m. He receives 1m in base salary this year, plus 4.5m signing bonus, which totals a payout of 5.5m in guaranteed money. This deal auto-voids in 2014, making Gross a free agent (free to resign with us, btw) and accelerating the pro-rated signing bonus money to effect a 5.7m cap hit next year (still much lower than his projected cap hit would have been.) The last three years of the deal are just to effectively make his signing bonus cap hit cheaper for this year before taking the rest of the hit next year.

All in all, Gross took a decent upfront paycheck, gave us huge cap savings this year and next, and the pro-rated cap hit will not be a factor, nor will the extra three years that are voided next year. We did not kick the can down the road, we actually are achieving significant cap savings while giving us flexibility to bring Gross back at a cheap price next year if he doesn't retire.

#154 carpanfan96

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Posted 27 March 2013 - 02:12 PM

I don't think there is such a thing as an AutoVoiding Contract. Such a statement doesn't even compute in my brain.

Gross could void it if he chooses. That's what I have read twice now. Auto-Voiding just sounds backwards.



I know it sounds weird, but I don't put anything past anyone in the NFL. lol


I've seen a few different places reporting the 3 year extension though, so I'll go with that one which makes it a good deal.


Cap hits for the next three years on the deal are

2013 - 1 million base + 900k + bonuses from previous deal puts it around 4 million (saving the team 7 million)
2014 - 1 million base + 900k + 2 million roster + previous deal bonus money- 4.9 million cap hit
2015 - 1.9 million total cap hit
2016 - 1.9 million total cap hit
2017 - 1.9 million total cap hit



Saves the team roughly 12-14 million over the next two years.



His previous deal would have counted for a 3 million cap hit this season or a 1 million cap hit next season if cut either year as he didn't have a ton of bonus money floating in his contract.

#155 carolina-chuck

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Posted 27 March 2013 - 02:15 PM

Dammit, Michael Huff just signed with the Ravens. Please go get Alan Branch!


Amen

#156 Jakob

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Posted 27 March 2013 - 02:20 PM

Gross is da man.

#157 Guest_shitposting_*

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Posted 27 March 2013 - 02:21 PM

Gross is true bro.

#158 Sod

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Posted 27 March 2013 - 02:22 PM

Now we can afford to cut DWill for more future cap savings

#159 bigskypanthersguy

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Posted 27 March 2013 - 02:26 PM

Posted Image


You win all of the internet.

#160 Udogg

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Posted 27 March 2013 - 02:28 PM

Now we can afford to cut DWill for more future cap savings


Still makes more sense to do it next year imo.

#161 bigskypanthersguy

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Posted 27 March 2013 - 02:43 PM

i bet joe person knows nothing about this yet


Joe Person hasn't found out they found Carruth in the trunk of that car, yet. Give the man some time...

#162 JawnyBlaze

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Posted 27 March 2013 - 03:38 PM

Re: now we have money to sign our draft picks, we already did for the most part. James Anderson's contract comes off the books June 1st, which will account for at least most of what we need to sign draft picks. Whatever we have in cap space now, we should be able to spend most of it in FA.

And to Mr. Gross, we salute you.

#163 panthers55

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Posted 27 March 2013 - 04:13 PM

Yeah, but he'll probably retire, get cut, traded or restructure again before those later years that we are pushing his cap hit towards. He is 32 after all.

Check out what someone on twitter said about it: Nick Mensio@NickMensio
All those extra years on Gross' deal in the NFLPA system are just dummy years to bring the 2013 cap hit down, then, it appears. #Panthers

Actually I expect him to stay here for this year and next at least. Otherwise restructuring just gives us dead cap space next year if we trade him or cut him or he retires. The only way to mitigate some of that is to make any moves next year a June 1st designation which spreads out the hit over 2 years. But the dummy years theory just defers the hit, it doesn't make it go away. Gettleman said his contract restructurings are designed for the long term so obviously this isn't just a 2013 solution if he is to be believed.

#164 panthers55

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Posted 27 March 2013 - 04:18 PM

I know it sounds weird, but I don't put anything past anyone in the NFL. lol


I've seen a few different places reporting the 3 year extension though, so I'll go with that one which makes it a good deal.


Cap hits for the next three years on the deal are

2013 - 1 million base + 900k + bonuses from previous deal puts it around 4 million (saving the team 7 million)
2014 - 1 million base + 900k + 2 million roster + previous deal bonus money- 4.9 million cap hit
2015 - 1.9 million total cap hit
2016 - 1.9 million total cap hit
2017 - 1.9 million total cap hit



Saves the team roughly 12-14 million over the next two years.



His previous deal would have counted for a 3 million cap hit this season or a 1 million cap hit next season if cut either year as he didn't have a ton of bonus money floating in his contract.

Assuming this is correct, then he is not going to be playing beyond 2014 which still gives us 6 million in dead cap space in 2015 when he doesn't return, right?? Otherwise his salary for 2015 and beyond hasn't been figured in and when restructured will raise his cap hit in those years significantly.

#165 carpanfan96

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Posted 27 March 2013 - 04:22 PM

Assuming this is correct, then he is not going to be playing beyond 2014 which still gives us 6 million in dead cap space in 2015 when he doesn't return, right?? Otherwise his salary for 2015 and beyond hasn't been figured in and when restructured will raise his cap hit in those years significantly.



The cap hit in 2014 is 5.6 million, that's the correct numbers and years of the deal but once day 5 of the league year hits his deal voids out the 2014-2017 years of the contract. essentially making it a one year deal worth 5.5 million that brings his cap hit down this season to 4.9 and his cap hit up next season to 5.6. After that he has no impact on the Panther's salary cap.


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