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Could the Bucs save $1M by cutting Key???


Kizarvexis
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Not a good time to be named Johnson

By Pat Kirwan

Special to NFL.com

Now the question is, what are their options for next year? This is where Tampa Bay has some options. They could simply cut him anytime before April 1 when they owe him another $1 million in the form of a roster bonus. True, they have the full accelerated $7.25 million staring them in the face but his cap charge for 2004 becomes $8.2 million in salary and bonuses. So, if he gets cut, they in fact create a million dollars of cap space by subtracting all the bonuses remaining from the 2004 charge. That probably sounds good to the Bucs at this point.

If they decide to pay him the $1 million roster bonus on April 1, they could hold him on the roster until after June 1 and split their expenses over two years, which is part of the deal set by the Collective Bargaining Agreement. So basically they would defer $4.56 million of charges until 2005. Teams in bad cap shape elect that scenario.

WOW! If Mr. Kirwan is correct with his numbers, cutting/trading Key before April 1st, 2004 would SAVE money.

Kizarvexis

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Sounds like it would save money but not cap room...that could be an issue if they are still on the hook for salaries of people that get cut.

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Sounds like it would save money but not cap room...that could be an issue if they are still on the hook for salaries of people that get cut.

Not really. In the NFL, unless your salary is guaranteed, you don't get it if you are cut.

So, this year KJ counts ~$4.5M against the cap. $2.9M base salary (according to NFLPA.org) and $1.625M prorated signing bonus ($13M over 8 years).

In 2004, KJ gets $8.2M in salary and bonuses according to the article above. But if the Bucs cut/trade KJ before April 1st, 2004, they are only hit with a $7.25 in accelerated cap charges, which is the signing bonus(es) and any guaranteed $ in the contract. That $7.25M would be almost $1M less than he would be making if he was still on the team through 2004, the above mentioned $8.2M. So the Bucs can save money by cutting/trading KJ before April 1st.

Now, if the Bucs wait until after April 1st, 2004, they have to pay KJ a roster bonus, which is guaranteed $ (IIRC) and would count against the '04 cap if he is cut/traded later. The only reason I can see the Bucs doing that is if they need to spread the cap hit over 2 seasons and cut/trade KJ after June 1st.

IMO, unless some team doesn't want to risk trying to get KJ in FA, the Bucs will cut him March 31st.

Kizarvexis

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Not really. In the NFL, unless your salary is guaranteed, you don't get it if you are cut.

In 2004, KJ gets $8.2M in salary and bonuses according to the article above. But if the Bucs cut/trade KJ before April 1st, 2004, they are only hit with a $7.25 in accelerated cap charges, which is the signing bonus(es) and any guaranteed $ in the contract. That $7.25M would be almost $1M less than he would be making if he was still on the team through 2004, the above mentioned $8.2M. So the Bucs can save money by cutting/trading KJ before April 1st.

Now, if the Bucs wait until after April 1st, 2004, they have to pay KJ a roster bonus, which is guaranteed $ (IIRC) and would count against the '04 cap if he is cut/traded later. The only reason I can see the Bucs doing that is if they need to spread the cap hit over 2 seasons and cut/trade KJ after June 1st.

IMO, unless some team doesn't want to risk trying to get KJ in FA, the Bucs will cut him March 31st.

Kizarvexis

Thanks for the in-depth analysis...the signing bonus, guaranteed $$$ is what I am talking about.

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I BULLieve that at a certain time when you cut him ... you can split it over 2 seasons ...

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if the Bucs take a 7+ mill cap hit, that is huge!!  Yes it is less than the 8+ they would be paying him but at least you have a player giving you something on the field where as a cap hit leaves you with no player and no money to sign a different player.  They will work out a trade with some stupid team so they will not take a large cap hit and have the services of a player.  The bucs have some of the best capologist in the NFL, they are too smart to take that large of a hit.  

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if the Bucs take a 7+ mill cap hit, that is huge!!  Yes it is less than the 8+ they would be paying him but at least you have a player giving you something on the field where as a cap hit leaves you with no player and no money to sign a different player.  They will work out a trade with some stupid team so they will not take a large cap hit and have the services of a player.  The bucs have some of the best capologist in the NFL, they are too smart to take that large of a hit.  

Well considering that KJ is under contract for 4 more years and evidently is not willing to do anything next year and to have a bad attitude this year, the Bucs are saving money. $8.2M for nothing next year (and even more in later years)  or $1M back to the cap to sign someone else. (Like a replacement for Walker. ;))

Kizarvexis

::drinker::

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