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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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Knew he'd restructure. He's always been a team player.
That didn't stop the majority predicting otherwise.

Back to the news, sounds like Gross got an extension.
Gantt says it gives gross the option to void the final year of his deal rather than actually just voids it all together.

http://profootballta...-with-panthers/
If we cut williams, we will save additional $3 or $4 million. We can also sign 2-3 decent FAs.

@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.

Posted Image


Holy Hell what a salary cut.
Damn, thanks Jordan Gross, you damn baller you.

If we cut williams, we will save additional $3 or $4 million. We can also sign 2-3 decent FAs.


No.

http://www.spotrac.c...ngelo-williams/

Accelerate Bonus, Subtract Salary = loss or gain from cutting.

Holy Hell what a salary cut.
Damn, thanks Jordan Gross, you damn baller you.


Another report has this years base salary at $5.5 mil, which makes a lot more sense than $1 mil.

http://profootballta...-with-panthers/
It only saves us 3.2 mil this year

Another report has this years base salary at $5.5 mil, which makes a lot more sense than $1 mil.

http://profootballta...-with-panthers/



Saw that.

Still a solid savings.
Happy he's done this now, but why not several weeks ago? Could have picked up Sean Smith, Michael Huff, or another decent FAs. This was the one year FA contracts weren't completely out of hand at the positions we needed, now most are gone.
Start working on that Hardy extension.
Gmaniac
If the contract is voidable by the player and the player chooses to do so, what do the rules say about the cap hit in the player-voided year? Any?

If the contract is voidable by the player and the player chooses to do so, what do the rules say about the cap hit in the player-voided year? Any?


Just from the term "player-voided" it seems that there wouldn't be any cap hit. If the employee voids a contract of the employer, it appears there wouldn't be any money going to the employee, hence no cap hit. I could be totally wrong though.
We should be talking to Beason and Williams next.
He can only void the base salary and any workout bonuses, roster bonus,etc. Any cap hit from a signing bonus will still take its toll.

Which he quite obviously going to since the base is only 1 million.
At times like this, I wish I had paid more attention to the threads explaining "cap"...anyway, I take it this is GOOD NEWS!

Happy he's done this now, but why not several weeks ago? Could have picked up Sean Smith, Michael Huff, or another decent FAs. This was the one year FA contracts weren't completely out of hand at the positions we needed, now most are gone.

probably because this doesn't actually work out in his favor and it took a lot more work to make it happen.

the important thing is that it got worked out and we probably wouldn't have picked up those guys anyway.

Start working on that Hardy extension.

nah. much more important stuff to do.

@SteveReedAP

Details on OT Jordan Gross' new deal. He will make $5.5 million this year and the contract automatically voids out after this season.




@SteveReedAP
Gross was set to have a salary cap hit of $11.7 million this year, so this is a fairly significant pay cut. He'll become free agent in '14.
Playoffs may be upon us.

Nice work Gett and Gross

And then there's this from Yas The Carolina Panthers have restructured the contract of left tackle Jordan Gross and given the veteran left tackle a three-year contract extension.

"According to numbers obtained by ESPN.com, Gross’s contract, which had been set to expire after the 2014 season, now runs through 2017. Gross was given a $4.5 million signing bonus to make up for a cut from $8.7 million to $1 million in base salary this year.

The restructure drops Gross’ salary-cap figure for this year from $11.7 million to $4.9 million.

The new deal also drops Gross’ 2014 cap figure from $10.7 million to $5.9 million.

In each year from 2014 through 2017, Gross will earn $1 million in base salary and he’s scheduled to receive a $2 million roster bonus in 2014. His cap figure is $1.9 million for each of the final three years of the deal.

Gross always has been known as a team player. This deal only enhances that reputation as Gross is helping the Panthers get out of cap trouble now and in the future."

http://espn.go.com/blog/nfcsouth
Though his base salary goes to $1 million for 2013, Gross will still receive a salary of $5.5 million, according to former player agent Joel Corry. Gross is the second-longest tenured Panther in the locker room and holds the franchise record for most career starts with the team (151).

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.
http://blogs.charlot..._medium=twitter
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soo we now have $7mil in cap room?

looks like we're not done in FA after all. OL and maybe DT coming up.
Think it gives us closer to 8-9 million room all together.

i bet joe person knows nothing about this yet


Give Joe person a break. He's chasing a breaking story that the Panthers might try to get some public money to remodel the stadium.
I'm confused, some articles are saying his contract is done after this year, and now this one is saying it's a 3 year extension, which is it? If it's extension with him paid 5.5 this year and 1.9 the next 3, Gettlemagic.