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Saints Restructure Jarius Bryd's Contract

nctarheel0619

By nctarheel0619,
in Carolina Panthers

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nctarheel0619 Newbie

nctarheel0619

Posted
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After releasing running back Pierre Thomas yesterday, the Saints continue to inch toward getting under the 2015 salary cap, restructuring the contract for safety Jairus Byrd. Field Yates of ESPN.com reports (via Twitter) that the club has converted Byrd’s $6MM roster bonus into a signing bonus, creating $4.8MM in cap savings for ’15.

Before the restructure, Byrd had been set to count for $10.3MM on New Orleans’ books for 2015 — that figure included his $6MM roster bonus, his $2MM base salary, $2.2MM in prorated signing bonus money, and a $100K workout bonus. By converting the roster bonus into a new signing bonus, the Saints can spread the cap hit over the next five years, making it count for just $1.2MM per year. So Byrd’s deal now includes that $2MM base salary and $100K workout bonus for 2015, along with $3.4MM in total prorated bonus money, for a total cap number of $5.5MM.

Although restructuring Byrd’s contract is a start, the Saints still have a ways to go before they’re under the cap, and will have until Tuesday to make all their moves. Contracts for players like Junior Galette, Jahri Evans, Marques Colston, Ben Grubbs, and Curtis Lofton are among the others that figure to be addressed in some form or other.

http://www.profootballrumors.com/saints-restructure-jairus-byrds-contract/

 

Still got a ways to go there Taints.  

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rmoneyg35 Proficient

rmoneyg35

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They are just making it even more difficult on them for the 2016 season.

Pulling a Hurney and just pushing that money back

As someone that doesn't fully understand how the restructuring works could you explain to me how this works?

From my understanding money will be saved this year but hurt them more next year. So basically it just puts the salary a year back? And can this only be done once?

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Frank Hollywood Newbie

Frank Hollywood

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As someone that doesn't fully understand how the restructuring works could you explain to me how this works?

From my understanding money will be saved this year but hurt them more next year. So basically it just puts the salary a year back? And can this only be done once?

They turn a players salary into a "signing bonus". This ends up being the same amount of money, but now they can spread that amount of money over the rest of the contract. The issue is that this money is now guaranteed. It counts as dead money if the player is cut or traded.

For instance if a player signed a 5 year 50 million dollar contract with only 10 million guaranteed, they would most likely spread out the 10 million over 5 years. (2 mil per year). When they cut said player, whatever guaranteed money is left is what counts as dead money against the cap.

So since the player counts as 10 million againot the cap every year, say in year 3 they need cap space and want to restructure his contract. they can take the 8 million of non guaranteed money that year and convert it to a signing bonus, which can be spread over the last three years. Which now means he only counts 4.6 mil against the cap that year (the 8 divided by three plus the original 2), a savings of 5.4 mil, however his cap next year is now up 2.6 mil as is the year after that. Furthermore if the player sucks, his dead money is now increased by 5.2 million next year which leaves little cap relief if cut.

That's the basics of it, there's a little more to it. Someone correct me if I got something wrong.

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The Huddler Grand Master

The Huddler

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As someone that doesn't fully understand how the restructuring works could you explain to me how this works?

From my understanding money will be saved this year but hurt them more next year. So basically it just puts the salary a year back? And can this only be done once?

Zod owes me 12 dollars today.

Zod owes me 13 dollars tomarrow.

Me and zod restructured.

He now only owes be 7 dollars today,

But now owes me 18 tomarrow.

Helps him out today, fugs him tomarrow.

Now in real contracts, that can spread that amount of money over the remaining number of years so its not such a jump. But, still. It fugs you in the long run

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