Top 25 Paid WRs 2014

[Way Truth Life]

 

 

Very sly response......I like it.

[Jon Snow]

Since you seem rational explain to how we could ever get the $3 million back this year?

In 2015 his base salary jumps to $6 millionish and he is guaranteed $3.6 million making his cap cost $9 million correct? What is the difference letting him play out the 2014 season then giving the cut or renegotiate option in 2015? $3.6 million guaranteed correct? So, if we cut him in 2015, we lose an additional $3.6 million. If we cut him in 2014 we lose $3 million plus we have to find a $4 million base WR to replace him that is as good as him.

What am I missing here? It is a no brainer.

You don't get it back. It's just part of the cost to clear the contract off the books. From what I understand from reading the contract summary is that basically they either redo it before 2014 league year starts or the team has to add a 3 million a year option on the next two years plus an additional year at 9 million in 2016.

My guess is that there's more to it than as I'm by no means an expert on the salary cap issues but it is more than just his salary alone. The cap hit to keep him is more than his salary numbers indicate which as you know we are carrying more dead cap money charges than a team of mules can haul. Bottom line is that noe is the best time to cut or renegotiate Steve from a salary and cap stand point that there will ever be under his current contract.

As for his replacement, that cost has nothing to do with what Steve makes. It will depend on who we sign or draft and their role in the receiver group. We need several already and if Steve goes it will be one more.

Steve's last contract from rotoworld but it doesn't break it down completely.

4/10/2012: Signed a four-year, $37.75 million contract. The deal contains $16.8 million guaranteed, including a $10 million signing bonus and each of Smith's first three base salaries. 2014: $4 million (+ $3 million option bonus), 2015: $7 million, 2016: $9 million (Option Year), 2017: Free Agent

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[Way Truth Life]

4/10/2012: Signed a four-year, $37.75 million contract. The deal contains $16.8 million guaranteed, including a $10 million signing bonus and each of Smith's first three base salaries. 2014: $4 million (+ $3 million option bonus), 2015: $7 million, 2016: $9 million (Option Year), 2017: Free Agent

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So.  $7 million in 2015 guaranteed money in 2015 even if we cut him?

 

I read $3.6 million guaranteed per year....I'll research.

[Jon Snow]

So. $7 million in 2015 guaranteed money in 2015 even if we cut him?

I read $3.6 million guaranteed per year....I'll research.

That's they way I read it. And I read somewhere that the option year 2016 is actually picked up on June 1st 2014. So I'm sure that the guaranteed money for 2016 would be figure in there somewhere.

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[Way Truth Life]

Smith has $3 million that is fully protected this year in the event he is released, but the Panthers have time to decide on his fate which works to their advantage. Smith has an option bonus due of $3 million but the team has until June 30 to make a decision on this option. Normally the option would need to be exercised in the first few days of the League Year to facilitate a quick release for the player. By the time they would decide in this case, though, the bigger money in free agency will have dried up.

If the team fails to pick up the option and release Smith by July 1 they will owe him a $3 million non-exercise fee. If they release him they will need to pay him $3 million in fully guaranteed base salary. So $3 million of this money is indeed protected for Smith. In addition I believe that Smith’s guarantee is of the no-offset variety meaning he can double dip if released. So at a minimum Smith will earn $4 million in the NFL this season and most likely a few dollars more.

The Panthers would gain little by releasing Smith. His cap charge for the year would be $6 million, assuming his is a post June 1, and he is currently only counting for $7 million.  The team would then be responsible for $3 million in cap charges in 2015 ($4 million in acceleration and a $1 million credit for not picking up the option). His roster spot would also need to be replaced by someone making at least the minimum of $420,000. What it boils down to is that releasing Smith in 2014 is going to cost the Panthers $9.84 million in cap space and $3.84 million in cash plus a somewhat negative PR situation over the next two seasons.

The best case for both sides is to find a way to make Smith’s contract more reasonable for his age and expected performance level. According to a source with knowledge of Smith’s contract his true cash salary in 2014 would be $5.5 million due to half of his option being deferred until 2015. That should be the first starting point. Eliminate the option and pay him $5.5 million in 2015, with $2 million coming as a roster bonus in June (thus getting him more immediate cash than he would get in the option) and reducing his P5 to fully guaranteed $3.5 million. $5.5 million is likely more than he would make if the situation dragged out and he was released on July 1.

 

http://overthecap.com/steve-smiths-contract-situation-carolina-panthers/

[Jon Snow]

So it still comes down to redoing the contract before June 30th. Which so far Steve has said publicly he will not do. We have come full circle with this debate and are no closer to an agreement. I say he is not worth his current rate regardless of past performance and you want to see him make more.

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[Way Truth Life]

So it still comes down to redoing the contract before June 30th. Which so far Steve has said publicly he will not do. We have come full circle with this debate and are no closer to an agreement. I say he is not worth his current rate regardless of past performance and you want to see him make more.

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Not what I read.

 

The Panthers would gain little by releasing Smith. His cap charge for the year would be $6 million, assuming his is a post June 1, and he is currently only counting for $7 million.  The team would then be responsible for $3 million in cap charges in 2015 ($4 million in acceleration and a $1 million credit for not picking up the option). His roster spot would also need to be replaced by someone making at least the minimum of $420,000. What it boils down to is that releasing Smith in 2014 is going to cost the Panthers $9.84 million in cap space and $3.84 million in cash plus a somewhat negative PR situation over the next two seasons.

[TheNewStandard]

Dude, I just actually looked at the contract particulars instead of taking someone else's word for it. I was relaying to you what I was explained. So please understand how frustrated I am with all this.

As it appears, we are stuck with a, gulp-let me get this right, 9 million hit in dead cap if we release him before June 1st and that goes on 2014 cap figures. If the 3 million kicks in on day 1 of the '14 season, I'm not sure, but if he's on the roster it's prorated over the final 3 years of his contract. So it's looking like 9 before and 12 after the deadline.

if he were cut after the '14 season, the dead cap lowers to 7 mil dead against the cap for the '15 season and we just can't afford that number.

Basically, we have to do this now or things get really messy for Cam and Luke and anyone else who wants to come here for that matter.

Sorry for being a total a-hole and throwing out names, it was uncalled for and I'm as frustrated as you are with all this. There's more to it that we aren't being told and it sucks. It comes down to who is going to take the bit for us each of the next couple of seasons to keep us on track and this year it looks like Smitty because it costs too much to do this twice in one year with these big bonuses.