After we just talked about the mechanics of restructuring contracts, news comes out today (via plugged-in NFL blogger Brian McIntyre) that Cardinals guard Daryn Colledge has restructured the contract he signed last season to help create cap room. Colledge had been due $3.8 million in salary; he gets $3.1M of that immediately as a signing bonus, lowering his salary to $700,000 and spreading that $3.1M over the final four years of his contract. It lowers his 2012 cap number from $5.5M to $3.175M, although it increases the cap number the last three seasons from $6.5M to $7.275M.
Where does that leave the Cards under the cap? I do not know. That moving target has been a mystery for now. The Card still have some free agents of their own they want to bring back, so they will continue to be judicious I would think in parceling it out. That said, I still believe they still have interest in T Demetrius Bell, although I’m not sure where that situation is at this point. I’d guess they aren’t the only ones looking at Bell.
It doesn’t look like any other players have restructured at this point. Given that it takes a hefty check handed out immediately to do these deals (because of the signing bonus), most teams hold off on restructuring until it is absolutely necessary.
– The Cardinals did not get any compensatory draft picks this year, no surprised since they signed more key free agents last year than they lost. The comp picks were just announced at today’s owners’ meetings in Florida.
Tags: Daryn Colledge, Demetrius Bell
Posted in Blog | 15 Comments »