Quote:
Originally Posted by Schneed10
My main man CrazyCanuck recently updated his cap sheets, which includes Chris Cooley's new contract extension. In that deal, Cooley has a roster bonus in the amount of $11 million due to him in 2008. When Peter King reported that we were $20 million over the cap, that included Cooley's large roster bonus, which counts entirely towards the team's 2008 cap figure. However, Snyder and Cerrato will certainly renegotiate this bonus into the form of a signing bonus, giving Cooley the same $11 million this March, but allowing the team to account for it differently and spread the cap hit over the life of Cooley's contract.
Long story short, the cap analysis I've been posting is now being updated, and gets significantly better in light of this recent update. Behold:
So this is all to say that the Skins are currently $20.4 million over the cap. By cutting players and restructuring contracts, they can clear up to $43 million in cap room. This would get us to a point where we'd have $22.6 million in cap space for 2008. That's if we decide to make every move, which we won't need to do if we don't want.
In light of this update, I hereby revise my position I've previously held suggesting that switching coaches was a bad idea from a cap standpoint. The team clearly has the capability to dramatically alter the roster this season if they so choose. Whether or not that's a good idea from a football perspective is entirely another matter. But the cap will not prohibit it from taking place.
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You should add Wade and Springs to your potential cut list.
I would add Kendall too since he will be 35 has no release fee, even though we both expect him to be back.