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Cap details of the Teddy restructure/trade

t96

By t96,
in Carolina Panthers

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t96 Grand Master

t96

Posted
Posted

Someone correct me if I'm wrong on the below but this is the information I can gather on how this trade affects our cap compared to trading him without restructure or straight up releasing him:

This is the resulting effect of the trade on our cap:

 

Comparing this trade to our other options based on this spotrac info -- https://www.spotrac.com/nfl/denver-broncos/teddy-bridgewater-14441/ 

 

If we had released him pre-June 1st we would've had $33M in dead cap this year, none next year.

If we had traded him pre-June 1st we would've had $15M in dead cap this year, none next year.

If we had released him post-June 1st we would've had $23M in dead cap this year, $10M next year.

If we had traded him post-June 1st we would've had $5M in dead cap this year, $10M next year.

 

Those were our only other options to get rid of Teddy (other than a different restructure). Our best option obviously would've been to just trade his contract straight up but clearly (and understandably) no team would've been willing to take that on unless we added other assets to the deal and who knows how much that would've been (it really was not a good contract for a player of his caliber).

 

Ultimately we're getting an extra 6th round pick for $2M more in dead cap this year than our ideal option (but not a realistic option given team's unwillingness to take on Teddy's deal) of just trading him. We are saving $16M in total dead cap space by being able to trade him and not just straight up release him. This is partly due to Teddy's willingness to restructure as he could've just said fug you to the Panthers and forced us to release him and signed elsewhere anyways. Denver has Teddy for just $3M this year, which is actually an incredible deal for them as he is a solid backup at that price. I'd say Teddy deserves some credit from Panthers fans for helping to facilitate this trade, as we benefit quite a bit from it. Of course we never should've been in this position anyways but we had to fix Hurney's mistake...

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electricbluecats Newbie

electricbluecats

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Simplest way to look at the trade is we save $3m compared to the cost of cutting him and pick up a 6th round pick.

Breer just added that the restructure kept his base salary at $1.5m, so Broncos get him at $4.5m this season with $3m guaranteed. Since the alternative was him being released, Teddy got that extra $1.5m in base salary as the incentive to agree to the restructure and facilitate the trade.

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t96 Grand Master

t96

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Oops, I was looking at 2020 numbers not 2021 numbers so I think you guys are right. We're only saving $3M in dead cap compared to releasing him, not $16M. Still much better for us than releasing him but I don't know how it compares to if we had traded him without the restructure. 

 

I tried to edit the OP but can't, please ignore those numbers they are completely off.

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