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Schneed10 · 02-21-2005, 10:25 AM

I gotta get involved in this thread, this is definitely not good.

First off, now that we're releasing LC, do you still trade Rod Gardner? I guess you do, because it saves you cap room.

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.

Hopefully he'll give back at least $8 million of that bonus so we'll gain some cap room. If we get cap room, I gotta believe we have to make Derrick Mason our #1 priority, or the receiving corps is in some trouble.

02-21-2005, 10:25 AM	#87
Schneed10 A Dude Join Date: Feb 2005 Location: Newtown Square, PA Age: 46 Posts: 12,458	Re: Redskins Expected to Release Coles I gotta get involved in this thread, this is definitely not good. First off, now that we're releasing LC, do you still trade Rod Gardner? I guess you do, because it saves you cap room. 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. Hopefully he'll give back at least $8 million of that bonus so we'll gain some cap room. If we get cap room, I gotta believe we have to make Derrick Mason our #1 priority, or the receiving corps is in some trouble.