Redskins Expected to Release Coles

Releasing Coles is not going to give us extra room under the cap. Reports are that he is going to repay half of the signing bonus, which will decrease our cap room for this coming year, albeit by a minimal amount. Regardless of the cap ramifications of this move, this will not change what our team is looking for in free agency and the draft. Gibbs and Co. have known for a while that Coles would be gone in the near future (L.C. reportedly requested a midseason trade last year, which was denied.) The team has known this would happen all along, just the fans didn't know. Gibbs has been preparing all along for next season without Coles.


youre right, the fans didnt know he wanted a trade...which bring up an interesting question...how did you know. YOU MUST NOT BE A FAN!!!! GET UM BOYS!! lol, you have any other inside info that you can give to us

oh, and welcome to the site, I dont think I have seen or welcomened you yet.

youre right, the fans didnt know he wanted a trade...which bring up an interesting question...how did you know. YOU MUST NOT BE A FAN!!!! GET UM BOYS!! lol, you have any other inside info that you can give to us

I do remember hearing some grumblings during the season that Coles was unhappy, but I think like anybody I just shrugged it off thinking he was just frustrated like everyone else. Frustrated with the offensive struggles, frustrated with losing, etc.

Who knew how serious this really was?! I guess we just found out!

I agree. Canuck, what will this do to our immediate cap situation?

I posted this previously, here is your answer:

So, the question is what happens next? I'm a financial analyst, so I'll hit you with the salary cap ramifications: Coles signed a 7-year deal with a $13 million bonus, meaning that bonus counts $1.857 million against the cap each year of the deal. He's played out 2 years of the deal, so the unallocated portion of his bonus would amount to 5 year's worth, or $9.286 Million. If he gives back all of that $9.286 Million, his bonus will clear off of the books, and his cap number in 2005 will decrease by $1.857 million. Plus we won't be paying him his base salary of $1.5 million, so that would go to savings, meaning we would save a total of $3.357 million in 2005.

We need to find out how much of his bonus he'll be giving back. The formula to find the effect on our salary cap if we cut him is this:

(9.286 - The Amount He Gives Back) - 3.357

If the number comes up negative, that means our cap goes down. If it comes up positive, it means his current 3.357 cap hit will get bigger.

I am pretty sure that signing bonuses can only be spread out over six year. Your math is for 7. Its 2.16 million per year if it is spread out over six. Im not positive, but im pretty sure.

Thats acutally a good thing becuase it means more of it has already been accounted for.

As far as a post june 1st cut, that pushes most of it onto the 2006 books. Which is going to be a tough year for us salary cap wise. But if he gives back half of his bonus money, as rumored, thats 6.5 million back. That means that 3.25 million will be on the books for 2006, as opposed to 4.3 million if we cut him prior to june first.

Great news to wake up to. Unfreakingbelievable.

http://sports.espn.go.com/nfl/news/story?id=1996404

an espn article. Talks about how its going to be a mess. We take a 9 millino dollar hit if we trade him, or no hit but no compensation

Like Offiss I'm scared this is an omen that the offense isn't seen to be evolving. Both of our starting WR's are ASKING for trades. That is NOT a good sign by any means. It probably means we're going to run the same ultra-conservative miserable offense.

I like Coles attitude. He's going about this the right way. I hate to see him go but it's better than having him here if he doesn't want to be. I think a Mason FA pickup, and a guy through the draft is our best course of action. I think Jacobs is ready to step into the limelight - even though Spurrier took a ton of shit for drafting him -- he was the right pick. Blazing fast with great hands. We need to seriously look at McCants. I think we'll want to keep him.

More than anything - this makes me worry about our team. Does Smoot not want to resign because he thinks we won't win? Are our offensive troubles THAT bad? I guess we'll see next season.

Smoot wants cash, if he show him the money he'll be back in a heartbeat.

I'm just saying - it makes you wonder. Has he priced himself out of our range on purpose?

BTW: I'm going to start posting large pictures till I get another avatar! ;)