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OTC podcast discussing Smitty contract

PantherFeez

By PantherFeez,
in Carolina Panthers

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PantherFeez

Posted
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Jason from overthecap.com answered questions about what releasing Smitty would do to our cap situation and what DG is likely to ask him to do to stay on and help the team. 

 

http://overthecap.com/podcast-130-million-cap-ray-rice-panthers-chiefs/

 

He also talks about Greg Hardy (44:00 - 45:45) and Thomas Davis (45:45 - 46:50). The Smitty talk starts at at 46:50 and goes on for around 10 minutes. LOTS of numbers talk, so many might not find this interesting.

 

Smitty's contract ledger is located here for reference to the numbers he talks about: http://www.spotrac.com/nfl/carolina-panthers/steve-smith/ (Spotrac has more details near the bottom)

 

Summary (very general. lots of talk involving numbers)

 

Smitty has an Option bonus that picks up his 2016 contract year (has to be decided in June)

 

If not picked up and on the roster, the option bonus is paid anyways, but this would accelerate more bonus money into 2014

 

Smitty is "fully protected in his contract"

 

$3M of 2014 base salary is fully guaranteed even if he's released.

 

Post June 1 cut for Smitty means $6M cap hit (only saves us $1M) and $3M dead money into 2015

 

DG likely to keep his salary but ask him to get rid of the option to make Smitty's 2014 cap hit 6M instead of 7M

 

Real money: Smitty would earn $7M in 2014 if he is on the roster the way the contract is now, earns $3M cash if he's cut. $4M in real money is up for discussion from this point. DG and Smitty could meet somewhere in the middle in a new deal. If Smitty isn't up for discussion, he is cut, makes $3M and we take on $9M dead money split between 2014 and 2015

 

 

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