I'm never again looking at a single report from any source, ESPN, NFL, anything that spells out the amount of salary cap money a team has. The Redskins were so massively over the cap that even with their renegotiations and the new CBA they were just supposedly BARELY under, and by far the team with the least money available of the 32. Yet they're able to trade for Lloyd, bring in Randle El for WR1 money even though he's their WR2/3, and are supposedly very close to signing Archuleta.
Woodrow, this is a post by Fatness from a few days ago - it does a nice job of explaining the Redskins and the cap. Don't you just wish someone in Philly thought this creatively about using cap dollars ...QUOTE
With the chances of an extension to the CBA looking in the balance for the last week, the Redskins could have been looking at an offseason of restraint instead of aggressive buying. However, when the owners agreed to the last obstacle in the way of a new labor agreement - a revenue sharing deal – on Wednesday evening, the Redskins were back in an “aggressive mood”.
With the new labor agreement now in place, the restrictions of the 30 percent rule and the prorating of bonus monies for only 4 years are washed away, so the Redskins can look at creating cap space to be an active player if free agency.
The first order of business is getting under the new cap limit for 2006 which has been set at $102.0m and we will start at the figure of $115.5m. Three occurrences have helped the Skins already without having to barely raise a finger:
* The mutually agreed release of LaVar Arrington and his killer contract (saving nearly $4.3m off his previous cap figure)
* The automatic spreading of option bonuses due in 2006 over the next 5 years instead of 4 (for those players who will have 5+ years left on their contracts after the options are exercised), saving $1.2m. The players involved Santana Moss ([body].350m savings), Chris Samuels ([body].350m), Casey Rabach ([body].1m) and Carlos Rogers ([body].4m), and
* The automatic voiding of likely to be earned (LTBE) incentive clauses tied to “no new CBA” in the contracts of Samuels ($3.5m), David Patten ([body].6m), Rabach ($1.6m) and Renaldo Wynn (0.4m), totalling $6.0m in savings.
The team has also tendered offers to three of its restricted free agents at the lower tender of [body].712m – Dockery, Jimoh and Chris Clemons.
This would leave the team at a cap figure of $105.4m, just $3.4m over the cap.
The Redskins also have 8 key players who have large roster bonuses due in 2006 (totalling $13.650m) that could be guaranteed and spread out over the remaining life of the contract or to 2010 if the tenure is longer. This move would result in a further $10.4m in savings for 2006, bringing the Redskins into cap compliance with $7m in cap space already created.
All this and the team has yet to cut or trade a player in the process.
So what other moves could assist in creating additional cap space and potential free agent dollars? Those likely to happen are the following:
* Patrick Ramsey could be traded (saving $1.7m)
* Brandon Noble ($1.7m), Cory Raymer ($1.0m), Matt Bowen ($2.0m), Tom Tupa ([body].6m) and Walt Harris ($2.0m) will probably be released within the next 48 hours (saving $7.3m)
* Jon Jansen and Randy Thomas could undertake a basic 2006 base salary to bonus conversion restructure in thier contracts that could save a further $5.1m.
If all these moves were made (allowing for replacement of released players under the Rule of 51), another $12.2m would be saved, pushing the projected cap number down to $19.2m below the NFL limit.
The Redskins may also be eligible for LTBE incentive cap credits carried over from 2005 would increase this gap even further.