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Discussion in 'Chicago Bears' started by BSBEARS, Mar 1, 2014.
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Excellent points, Soul. I think of Biggs as pretty "in the know" but Phil is a skilled mis-director.
Well guys all we know is that Peps cap hit is the elephant in the room in and it's not going away by ignoring it so I'm sure there's something going on behind the scenes. They don't just pull all this stuff out of their butts at quarter to midnight before the day FA begins.
I agree. And $5mil sounds better than the $18mil cap hit this year, and the $20-million dollar cap hit next year. That is a staggering amount of cap money, and obviously, the team could use that money, considering the team has so many needs. We're talking significant money here, that could be used to make the team better now - and beyond the 2014 season. We can invest that money into younger players with upside who will pay dividends for the future. Emery is in the midst of a major rebuilding effort on defense, and you don't pull that off by overpaying Pep by several millions of dollars while getting diminished returns on that investment.
JABF, I know of no one either here or analysts in the press who ever seriously discussed riding with Peppers in his current contract form. No idea where you got that idea. That was never the choice. Please stop hyperventilating about cap numbers that have no basis in reality.
Peppers will have to renegotiate his contract to a much more manageable and realistic number (that reflects his true current market value) or he will be released with near 100% certainty. The Bears may not even attempt to renegotiate it if they make a replacement move in FA. No team will pay Peppers that kind of money as described above.
Another point some don't seem to understand is that the "dead cap" portion of the $18-20m is already on the books and it doesn't go away no matter if he's retained or released. It is NOT future salary. It represents the accounting costs for past signing bonuses that have already been paid out and amortized over the life of his previously re-structured contract. The Bears eat that cost (as a cap deduction in effect) whether Julius Peppers is playing for Chicago, playing for another team, or retired sitting on a beach with a Corona.
Maybe I'm not understanding this then. Can't we restructure him and save any of that money? If not, then I didn't understand the situation. I'm not very cap savvy at all. So the money is just "gone" now? That is pretty sad.
I won't go on about it. But money is obviously a huge component to our off-season rebuilding of the defense. And what has me "going on" about this is probably the idea of paying a guy who seems to be loafing on us, fries my butt. If a player is old, or injured, I can certainly understand that - but I still don't like seeing the Bears overpay a guy in that situation. But if a guy is mailing it in......that gets me angry. But I'll try to let this go. I didn't mean to go on and on about it and tick people off.
I'll try to explain the accounting here. I don't have the exact amounts in front of me so this is a reasonable approximation:
Peppers is under contract this year scheduled to be paid about $14m in salary. His "cap cost" (note, cap cost not actual new dollar cost) is about $18.2 mill. That's because there is about $4.2m in extra cap cost also added into the calculation that represents previous signing bonus money already paid during previous restructures amortized yearly over the length of the deal. This $4.2m is what is referred to as "dead cap cost" if he were to be released or he retired (its called "dead" when it represents cap accounting charges a team incurs for a player who is no longer even on the roster). There is another $4.2m as described above on the books for next year (his current contract runs through 2015).
The Bears incur these "costs" in '14 and '15 as counted against their salary cap no matter if Peppers is playing for them or not. They aren't "new money" still being to paid him. They're the accounting for previous signing bonus(es). For example, if player X signs a 5 year contract paying him a salary of $3m each year with an upfront signing bonus of $10m, his cap cost to the team is $5m/yr (10/5 + 3 each season). That extra $2m in cap cost every year beyond the base salary (10m/5yrs) becomes "dead cap" cost to the team should they release him before his contract is fully up.
Peppers has already restructured twice with hefty signing bonuses to lower his initial cap cost and spread it out. That's why he now at the end of the contract has such substantial "dead cap" attached to him should he be released. It's the price you pay at the end of a contract to make the upfront cap charge lower. Every team does it to some extent. He's too old to extend a few more years so the only way to lower his costs is to ask him to renegotiate and take a salary reduction. The $4.2 times the next two years does NOT go away no matter what.
The only thing to add is if he is cut after june 1, that is how it works. He can be declared a June 1 cap hit prior to that date but if you do not declare him as a June 1 cut his total cap hit would come into this year or $8.4 million. That is why there is no reason to be in a hurry with Peppers. Additionallly by declaring him a June 1 cap hit to spread it out to 4.2 m per year rather than the 8.4 m then you can not spend the money until June 1.
I like Donald for a Lovie Tampa 2 UT. But is Tucker planning to run Lovie's scheme still, or is he going to implement his own 4-3 defense? If I remember from an article, doesn't Tucker like bigger DTs? Just asking, I don't know the answer.
The way I read Emery is I take all the names of players people like in the first round on the message board, then I throw those out and take the most unlikely reach I can. He's quite the unpredictable chooser of draft picks.
Each team is allowed to designate up to two players per year as "June 1 cuts" even if they are released prior to that date. That allows the team to spread the dead cap remaining on the contract equally over two years. Or you can physically wait till June 1st to officially cut them to achieve the same thing. If you release the player prior to June 1 and don't use the designation, all the dead cap remaining "accelerates" into the current year. The designation option was added to the CBA because it helps both sides. The team gets the cap spread benefit and the player gets released earlier so he can seek work elsewhere while FA is still in full swing.
If/when the Bears release Peppers they will almost certainly designate him as a June 1 cut and let him go well before then I would think,