Greg Olsen Exstention Saves Panthers $1.5 Million in Cap Space

[NJPanthers12]

https://twitter.com/corryjoel/status/573849292466601984

@corryjoel: The Panthers pick up $1.5M of 2015 cap room with Greg Olsen's 3-year, 22.5M contract extension. His cap number goes from $7.8M to $6.3M.

Didn't see this posted anywhere, but this is very helpful. We now have over $20 million in cap space.

[NJPanthers12]

@corryjoel: Greg Olsen's 2015, 2016 , 2017 & 2018 salary cap numbers are $6.3M, $5.1M, $10.35M & 9.75M after his contract extension.

Sorry I am not great at posting twitter stuff via IPhone. Here are his future hits.

[Jeremy Igo]

1.5 million will go a long way in picking up another receiver

[Squirrel]

Nice cap number for next year too.  Wonder how much is guaranteed?

 

 

[Cary Kollins]

I misread the title as $15 million and nearly flipped

[Nate Dogg]

1.5 million will go a long way in picking up another receiver

 

Why is the contract back loaded? I don't understand the big hits at the end. Isn't that what Hurney did to screw us?  I love Olsen, but I don't think it was very smart to put 10 million on the books for each of the last 2 years. He will be 33 and 34 years old.

[Squirrel]

Why is the contract back loaded? I don't understand the big hits at the end. Isn't that what Hurney did to screw us?  I love Olsen, but I don't think it was very smart to put 10 million on the books for each of the last 2 years. He will be 33 and 34 years old.

 

More of a 2 year contract.  Will need to see the guaranteed salary to see full effect. Last 2 years could be voidable with hardly any cap hit.

[uncfan888]

Why is the contract back loaded? I don't understand the big hits at the end. Isn't that what Hurney did to screw us? I love Olsen, but I don't think it was very smart to put 10 million on the books for each of the last 2 years. He will be 33 and 34 years old.

Depends on how much is guaranteed.. they can restructure, ask him to take a pay cut, or cut him. I don't like the way it's set up either, though. DG better be planning on using that money for good things

[MCC]

Why is the contract back loaded? I don't understand the big hits at the end. Isn't that what Hurney did to screw us? I love Olsen, but I don't think it was very smart to put 10 million on the books for each of the last 2 years. He will be 33 and 34 years old.

For one, it always makes sense to backload a contract a bit since they expect the salary cap to climb a bit in the next few years.

[NJPanthers12]

Depends on how much is guaranteed.. they can restructure, ask him to take a pay cut, or cut him. I don't like the way it's set up either, though. DG better be planning on using that money for good things

I think those good things are Cam and Luke. I also view this as only a 2-year extension. I wouldn't be shocked if he doesn't make it to that last year. Also with the cap possibly raising almost 20 million in the next 2 years, I don't think a 10 million cap hit will be awful.

[Nate Dogg]

Depends on how much is guaranteed.. they can restructure, ask him to take a pay cut, or cut him. I don't like the way it's set up either, though. DG better be planning on using that money for good things

 

I agree. I feel like it's setting us up for another Smitty scenario. However, Olsen is such a class act he might do what Gross did and just retire even though he has a couple more seasons left in the tank.

[jdpanther5]

I figured he may have reduced his base. Only way this would've actually saved money, though I was fine with using up $3m in space just to lock him down.

Why is the contract back loaded? I don't understand the big hits at the end. Isn't that what Hurney did to screw us? I love Olsen, but I don't think it was very smart to put 10 million on the books for each of the last 2 years. He will be 33 and 34 years old.

EDIT: Nevermind, didn't see his other tweet breaking it down further.

[Nate Dogg]

How is it backloaded? Yearly cap hits..

2015: $6.3m

2016: $7.1m

2017: $7.1m

2018: $6.5m

Though I'm sure there are some other incentives in there, damn good deal IMO.

 

That's looking a lot better. OP said cap hits were $6.3M, $5.1M, $10.35M & $9.75M.

[jdpanther5]

That's looking a lot better. OP said cap hits were $6.3M, $5.1M, $10.35M & $9.75M.

That's my bad actually, I was breaking it down based on the assumption that the base was equally spread (I thought spotrac had it that way, but now it's blank there).

Looks like a recipe for a 2017 restructure if the reported numbers are right though.