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Jordan Gross restructured

Mar 27 2013 11:14 AM YoungPanthers89 Carolina Panthers
@SteveReedAP
BREAKING: Panthers OT Jordan Gross has agreed to a restructured contract. Base salary reduced from $8.7M to $1M in '13, $6.7M to $1M in '14.



@SteveReedAP4m
I'm not sure at this point if years were added on to the contract, but that would make sense. Hope to know more soon.


That'll help.

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175 Comments

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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.
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.

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.
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carolina-chuck
Mar 27 2013 02:15 PM

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


Amen
Gross is da man.
shitposting
Mar 27 2013 02:21 PM
Gross is true bro.
Now we can afford to cut DWill for more future cap savings

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You win all of the internet.

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


Still makes more sense to do it next year imo.

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...
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.

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.

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.

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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who is that?
3.2 million dollar paycut going from 8.7M salary to 5.5M

gives us 6.8M in extra cap space this year with 3.6M in dead money being pushed to the future
from the CO...Jones....

http://blogs.charlot...-cap-space.html

Veteran left tackle Jordan Gross has taken one for the team.
The former first round pick entering his 11th season took a pay cut this offseason to help Carolina with its salary cap situation while picking up a contract extension through 2017.
According to an Associated Press report, Gross' base salary of $8.7 million for 2013 will be cut to $1 million, and his $6.7 million base salary in 2014 will be cut to $1 million.
Though his base salary goes to $1 million for 2013, Gross will still receive a salary of $5.5 million by virtue of a $4.5 million signing bonus on his extension, according to ESPN.com.
Gross, who was scheduled to become an unrestricted free agent at the end of the 2014 season, is the second-longest tenured Panther in the locker room and holds the franchise record for most career starts with the team (151). Gross will make $1 million in base salary from 2014-2017 and will receive a roster bonus of $2 million in 2014, according to ESPN.com.
The Panthers were between $1 to $2 million under the cap before Gross took his cut. The move takes Gross' cap figure for 2013 from $11.7 million to $4 million and gives the Panthers nearly $7 million more in cap room.

“I’ve given 10 years to the Panthers and the Panthers have given 10 years to me. And nobody wants this organization to win more than I do,” Gross told the Observer earlier in March. “I’d love to be a part of the equation for success in 2013. This is just something that has to get worked out.”


Does not mention next year.....sigh.

I always thought Gross would restructure. Getting $7mil this year is more than expected. As someone else said before, likely Gettleman likely was saving this...holding his cards. He said he had a plan. So far I am impressed.

Kudos for Gross. He has been a leader and a class act.

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 last three years won't leave any dead money. Salary plus roster bonus won't stay on the cap if he retires.
All I can say is thank you very much Mr. Gross and Mr. Gettleman for get this done so we can have the cap to sign a few more decent FAs to help this team out. :rock:

How many GM's in the league can rock the triple thick chinstrap shirt tucked into gym shorts with papers tucked into the waistband look? None I can think of.


Now that's some funny poo.
You dat deal Gross, thanks for getting Gettie wit it...

The last three years won't leave any dead money. Salary plus roster bonus won't stay on the cap if he retires.

yes it will. All of the remaining money from the original deal but the amount for next year will accelerate if he is not on the team for any reason. You are right that the roster bonus won't count if the contract is voided.

yes it will. All of the remaining money from the original deal but the amount for next year will accelerate if he is not on the team for any reason. You are right that the roster bonus won't count if the contract is voided.


I don't think you're right. All of his bonus is being paid this year and next. None of the 1.9 million for any of those 3 yrs will count against the cap.

who is that?


shakur sozahdah

shakur sozahdah

thank you sir, she is bad.