Ian Thomas getting Restructure

[WhoKnows]

5 minutes ago, panthers55 said:

Have you seen the terms. Until then why keep going with speculation. With a new GM and new cap manager, bringing up the past may not portend the furure. I read a pay cut but no mention yet of any signing bonus to kick money down the road. And this is all part of tagging Burns and still having cap room to acquire free agents. Plenty of time to bitch when the facts unfold.

Don’t have to read the terms. His dead cap cannot be reduced just moved out and increased. Not sure why it’s hard to understand.

Dead cap comes from bonuses already paid that spread that money over the years of the deal. Reducing his salary does nothing to dead cap already paid out in his signing bonus or past restructuring bonuses. In 2023 we restructured Thomas and his salary was cut but he also got $1.6M in a restructuring bonus that was spread over 2023 and 2024. It’s likely that the same thing is happening here. Salary cut but a restructuring bonus to push some of that bonus money into future years.

It’s the last year of his deal so hopefully we just reduced salary but that $1.75M (possibly more) is still new money. We could save that $1.75M in salary by releasing him like we could have before. There’s no magic here.

[WhoKnows]

4 minutes ago, panthers55 said:

Actually so far it looks a successful protect the plate, make contact single over the middle with 2 strikes on him.

Keeping and continuing to pay Thomas isn’t ever going to be a single.

[panthers55]

3 minutes ago, WhoKnows said:

Don’t have to read the terms. His dead cap cannot be reduced just moved out and increased. Not sure why it’s hard to understand.

Dead cap comes from bonuses already paid that spread that money over the years of the deal. Reducing his salary does nothing to dead cap already paid out in his signing bonus or past restructuring bonuses. In 2023 we restructured Thomas and his salary was cut but he also got $1.6M in a restructuring bonus that was spread over 2023 and 2024. It’s likely that the same thing is happening here. Salary cut but a restructuring bonus to push some of that bonus money into future years.

It’s the last year of his deal so hopefully we just reduced salary but that $1.75M (possibly more) is still new money. We could save that $1.75M in salary by releasing him like we could have before. There’s no magic here.

Dead cap is a combination of all monies that will become due and payable if you trade or release him. In this case 6 million. It is not all money restructured in the past but what is left. Each year the dead cap money changes as the guaranteed money on which the dead cap is calculated gets used up or is increased if you guarantee more money. Since this is the last year of his contract his restructure is reducing his base salary to lower his overall cap hit which consists of all guaranteed money not yet accounted for (signing bonuses, roster bonuses) and his base salary. You can't push money down the road unless you extend him which is not what I have heard.  If you release him then the whole 6 million cap hit becomes due unless you designate it a post June 1 cut which kick dead cap down the road which you bitched about. Right now his cap hit has been reduced by his salary reduction. It is pretty simple to see.

[Waldo]

Morgan looks set for a real dud of an offseason. JFC how is this guy still around. He isn't even a decent backup. 

[panthers55]

20 minutes ago, WhoKnows said:

Keeping and continuing to pay Thomas isn’t ever going to be a single.

If you release him you lose more money and have to replace him and pay his replacement. I don't think you understand the finances here. We saved money and kept him without pushing anything down the road from what I have read.

[CamWhoaaCam]

Just now, Waldo said:

Morgan looks set for a real dud of an offseason. JFC how is this guy still around. He isn't even a decent backup. 

I came here to post this. As much hate as this guy gets he's still on the roster.lol

 

Must be a good character guy in the locker room or something lol

[panthers55]

2 minutes ago, Waldo said:

Morgan looks set for a real dud of an offseason. JFC how is this guy still around. He isn't even a decent backup. 

It wasn't that we wanted to keep him. Releasing him cost more than keeping him and getting a salary reduction.  A June 1st designation kicks dead cap down the road. This way we pay less than releasing him and get his blocking. He is worth a backup roster spot

[Waldo]

2 minutes ago, CamWhoaaCam said:

I came here to post this. As much hate as this guy gets he's still on the roster.lol

 

Must be a good character guy in the locker room or something lol

He was an easy cut to clean some cap and get him in the rearview. The guy is a complete waste of a roster spot and there is no maybe about it at this point in his career. After the Bozeman cut it looks so much worse. Hell Bozeman even as a bad fit is still sooooo much better than Thomas lol

[Waldo]

1 minute ago, panthers55 said:

It wasn't that we wanted to keep him. Releasing him cost more than keeping him and getting a salary reduction.  A June 1st designation kicks dead cap down the road. This way we pay less than releasing him and get his blocking. He is worth a backup roster spot

He isn't worth keeping so any cap cleared by dumping him was the win. URFAs would have more upside than Thomas at this point.

Edited March 10, 2024 by Waldo

[Johnstonny]

 

Carolina re-signed Thomas on a three-year, $16.9 million deal in February of 2022. As he did in the second season of that pact in 2023, Thomas will likely be taking a pay cut to stick around for the 2024 campaign.

Pretty much worthless....Hasn't really contributed sht.

[Toomers]

8 minutes ago, panthers55 said:

It wasn't that we wanted to keep him. Releasing him cost more than keeping him and getting a salary reduction.  A June 1st designation kicks dead cap down the road. This way we pay less than releasing him and get his blocking. He is worth a backup roster spot

  Please don’t stop. Seeing you try to explain and understand the salary cap is hilarious. 

[mrcompletely11]

1 hour ago, WhoKnows said:

It’s not a wash. Dead cap is dead cap. It’s pro-rated bonuses that already happened but haven’t hit the cap. The salary is “new money”, which means we probably spread the dead cap into 2025. So instead of just eating the dead cap, we will end up using another $2M (probably more, there has to be another restructure bonus to spread the cap). Last time we did this, Ian got his $1.6M that “he lost/we saved” in a restructure bonus. He didn’t really lose anything last time, we just pushed more into 2023/2024. Now we are likely pushing to void years in 2025+.

We would have save more total last time by just cutting him but we would have had to put all the dead cap into 2023 and well, we did have a better roster than 2022 so better off signing Hurst with the cap we saved in 2023 because we are this close to contending.

holy poo this dude gets it

 

a+ post

 

trying to act like we are going to be competitive in 2024 is borderline corky

Edited March 10, 2024 by mrcompletely11

[Dave Gettleman's Shorts]

2 hours ago, Jackie Lee said:

 

Ian Thomas would actually be a very solid TE if he knew how to catch, get open, block, run after catch, and if 5'10/185 pound cornerbacks didn't exist.

[mrcompletely11]

31 minutes ago, panthers55 said:

It wasn't that we wanted to keep him. Releasing him cost more than keeping him and getting a salary reduction.  A June 1st designation kicks dead cap down the road. This way we pay less than releasing him and get his blocking. He is worth a backup roster spot

uh dude, you drunk?