This is one way you can maneuver through the salary cap as long as you are patient and have a little flexibility. The news came out March 8 that the Cardinals would be releasing Daryn Colledge a couple of days from then and designating him a June 1 release. Teams are allowed a couple of the pre-June 1 “June 1″ cuts every year if they so choose. What it means is that the team can release a player immediately but still spread the “dead money” cap hit over the next two years. The catch is that the team has to carry the player’s entire 2014 salary cap charge — or at least, what it was going to be — until actually June 1, before the benefit kicks in.
In Colledge’s case, the Cardinals were carrying his 2014 cap charge of $7.275 million all the way through June. (Since June 1 was Sunday, the “June 1″ cut didn’t become official until today.) With the arrival of June, Colledge now costs the Cardinals only $2.275 million on the cap this year, and will cost another $2.275M of dead money in 2015. That means just by time passage the Cardinals pick up another $5 million of cap space today (which Jason at overthecap.com covers nicely here.)
The NFLPA website listed the Cards at around $4.5 million of salary cap room going into the weekend, so the Cardinals should be around $9.5 million of cap space now. They still have to sign No. 1 draft pick Deone Bucannon, but there is a decent amount of wiggle room to make whatever moves necessary — including, you’d figure, the addition of a veteran inside linebacker in light of the Daryl Washington suspension.
Tags: Daryl Washington, Daryn Colledge, Deone Bucannon, salary cap
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There is a lot to digest with today’s Daryl Washington news and, as I have seen via Twitter and the comments on the blog, many questions. The biggest is what this all means for Washington’s future with the team. Not surprisingly, there are many who have said Washington should just be released.
That seems a little knee-jerk, at least sitting here today. A suspension means the Cards aren’t going to have to pay Washington in 2014. If nothing else, that buys time to survey the situation and see exactly what all the options are. Besides, as bad of a spot as Washington has put the team with his absence, releasing him — at least now — puts the Cardinals in an uglier situation in terms of money and the salary cap.
If the Cardinals cut Washington now, that creates a dead money hit of $7.5 million on the current cap. Absorbing that, even after the money the team will clear on the cap next week as Daryn Colledge’s June 1 designation on his release kicks in, will create a serious cap crunch. (According to the NFLPA site, the Cards have around $4.5 million in cap space currently, and should clear around $5 million or so with the Colledge situation).
More importantly, the collective bargaining agreement includes the ability for teams to get back portions of bonus money paid when a player violates league policies, and the Cardinals are planning on exercising that right. If the Cards cut him now, they no longer can try and get back any money. That’s a crucial piece of information given the huge option bonus the team recently decided to give Washington ($5 million this year and another $5 million is due early next year, when Washington would still be under suspension.)
Any suspended player, per the rules in the Substance Abuse policy, has a contract that is “tolled” during a year-long suspension. In simple terms, Washington’s contract freezes at this point. He doesn’t get money, he doesn’t advance another year toward the end of the contract. It picks up when and if Washington is reinstated (meaning, for instance, his 2014 terms would move to 2015, etc.) Given that reality — and those listed above — there no reason to rush any decision. Again, Washington very well could be released down the road. But it makes little sense for it to be now.
Tags: Daryl Washington, salary cap
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Seattle’s Earl Thomas is regarded by many (most?) as the best safety in the NFL right now. The Seahawks are now paying him like it, giving him an extension worth a reported $10 million average with more than $27 million guaranteed on his four extra years. This will impact the Cardinals, and in more than just Thomas-will-stick-around-the-NFC-West-and-be-a-pain type of way.
Shorter-term, the Seahawks have now cleared the way to also sign cornerback Richard Sherman to an extension. Given his position, he stands to make more than Thomas (although it’s arguable who is more valuable) and now both Sherman and the Seahawks know from where to start. Sherman has said this contract is about respect, although I am guessing he and Seattle will not have a hard time coming up with a deal that averages $11-to-$12M. And that’s where the Cardinals come in, because it will be the Sherman contract to which Patrick Peterson — who no doubt is awaiting his own extension — and the Cardinals will look when they start to negotiate. On one hand, Peterson was hurt being a first-round pick, because the Cardinals were able to exercise a player option for 2015 and delay talks if needed. Sherman, a fifth-round pick in 2011 long after Peterson was taken, had no such team option and the Seahawks are forced to deal with him right now. That said, Peterson’s 2015 option is worth more than $10 million, and after Sherman signs, his price should become more clear.
Peterson’s situation isn’t the only way this will resonate in Arizona, however. It’s also the first step in an evolving Seattle financial picture. Eventually, the team built in part because they had such key parts playing on cheap rookie deals (Thomas, Sherman, Russell Wilson, for example) will have to start paying those parts. Which means less money elsewhere. That isn’t to say the Seahawks can’t maneuver their way through it while winning big, but it again underscores the balancing act of sustaining a winner in the salary-capped NFL, and why rosters don’t and can’t stay the same long-term.
– For those asking, click here for some details on the upcoming draft party a week from Thursday, being held inside University of Phoenix Stadium.
Tags: draft party, Earl Thomas, Patrick Peterson, Richard Sherman, salary cap, Seahawks
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Antonio Cromartie was asked about moving into the NFC West. “Oh, I love it,” he said. “The competition is here.” Obviously, the division sets a high bar for the Cardinals this offseason. But General Manager Steve Keim isn’t going to get giddy about free agency improvements.
“I don’t want to step out on a limb and say that we’re there yet,” Keim said. “As a perfectionist, I think we all look at things and would like to be a little deeper in certain positions.”
To recap, the Cardinals have added a starting cornerback (Cromartie), a starting left tackle (Jared Veldheer), a probable starting tight end (John Carlson), a speed third receiver and return man (Ted Ginn), a potential replacement for Rashard Mendenhall (Jonathan Dwyer) and an interior offensive lineman who has been a starter (Ted Larsen.)
Cap space is shrinking. After Cromartie’s deal is worked in, the Cards should have only about $4 million of space left. There is more coming after June 1 when the Colledge release is figured in (and I was wrong on how that is considered. I knew the cap hit had to be carried through the actual June 1 date; I didn’t realize Colledge’s entire original cap hit for 2014 stays on the books until then. So that’s more than $7 million, although it means the Cards will clear about $5M in cap space come June — before they’ll sign any rookies.)
But there will be more moves of some sort. Now, roster building will be about bargains now for Keim. There are still spots that he’d like to address, whether there or in the draft:
– depth at defensive end
– depth at outside linebacker
– “length” at both positions
– depth at inside linebacker
Depth at inside linebacker is the call because the Cards are counting on, not surprisingly, 2013 second-round pick Kevin Minter. “We’ll find out what Kevin Minter is made of,” Keim said. “Kevin is a guy that we drafted in the second round and is going to replace Karlos Dansby. He is in the audition stage. He’s got to prove that he is the guy that we thought he was coming out of college at LSU.”
Tags: Antonio Cromartie, free agency, Jared Veldheer, John Carlson, Jonathan Dwyer, salary cap, Steve Keim, Ted Ginn, Ted Larsen
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A quiet day, finally, around the Cardinals. I know many were hoping for Antonio Cromartie free agent news but there isn’t any. Until he signs somewhere though, I wouldn’t rule out the Cardinals. Again, if he comes, it’ll be on the Cards’ terms. Beyond that, I think the Cards will keep looking at options but the market is going to be a buyer’s market now. That’s right up Steve Keim’s alley.
– The Cardinals have about $11 million in cap space. I don’t know if that yet includes Ted Ginn’s deal. It’s definitely not going to count the new contract for LB Matt Shaughnessy, since Shaughnessy hasn’t actually signed yet, and there might be a couple other lesser deals yet to be counted. That will come soon. Still, it’s plenty of room to work. It doesn’t hurt the space that Jared Veldheer’s cap number in the first season is just $2.5M and Ginn will be a mere $1.75M.
– Overthecap.com, which broke down the Ginn deal, notes that $2 million of Ginn’s $3.25M salary for 2015 is guaranteed if he is on the roster on the third day of the league year next year. In other words, if the Cards decide to release him it will be right around the time free agency begins.
– The Cardinals exercised the option bonus they needed to pay linebacker Daryl Washington this week. Washington’s assault case is still ongoing — his next court date is scheduled for April 23 — but he’s a cornerstone of this defense and isn’t going anywhere. There is still a chance he is suspended depending on the outcome of the court case, but the Cards will deal with it.
– It was a fruitful and smart start to free agency for the Cardinals. Get a left tackle, get a speed receiver/return man, get some interior OL depth, get running back depth. Re-sign a key linebacker like Shaughnessy, and as much as they wanted Karlos Dansby back, let him walk when the money got crazy. I also think, the way Keim operates, that from this point forward is even more important for the Cards. They have an excellent sales pitch right now and two guys in Keim and Bruce Arians who know how to sell it. There will be another Dansby-Abraham-Winston or two this offseason.
– As I pointed out on Twitter last night (@cardschatter, if you want more immediate updates from yours truly), we will have a video on azcardinals.com soon about Fitzgerald’s trip up in an F-16. Until there, here’s a taste of Fitz in the cockpit.
Tags: Antonio Cromartie, Daryl Washington, free agency, Jared Veldheer, Larry Fitzgerald, Matt Shaughnessy, salary cap, Ted Ginn
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With the new league year commencing Tuesday, the Cardinals are expected to make more than a few moves. One of them will be releasing veteran guard Daryn Colledge, a not unexpected decision given the selection of Jonathan Cooper and Earl Watford in last year’s draft and Colledge’s $4.8 million salary and $7.3M cap number. Colledge tweeted his goodbye Saturday evening:
Wanna thank you the fans and the Cardinals for an amazing opportunity. A great organization headed in the right direction. Wish ya the best.
— Daryn Colledge (@DarynColledge71) March 9, 2014
Nothing official has been announced yet, of course. Colledge confirmed via text message his release was coming Tuesday. That makes sense, because if a player is let go after the league year starts, he can be designated a June 1 cut. That means the Cardinals can take the $4.55 million of dead money Colledge’s release would create and spread it evenly over this season and next season, although they have to carry the entire $4.55M in dead money on this year’s cap until June 1 actually arrives. This isn’t about Colledge being a cap casualty but instead a decision to move on. Colledge understands that. It’s the business. It’s the same reason he ended up in Arizona in the first place, when Green Bay let him walk away and turned to a younger, cheaper alternative.
The Cards will pick up about $2.75M in cap space immediately with such a move, and gain another $2.25M or so June 1 when the dead money is spread out The Cardinals must carry Colledge’s entire $7.275M cap hit until June 1, and then it will drop to $2.275 million.
The Cardinals want to get more athletic on the line, definitely younger (Colledge is 32) and the reality is if the team is going to chase a high-dollar left tackle in free agency, the budget for the offensive line needs to be trimmed elsewhere. It’s too bad, because Colledge was a solid member of the line and good in the locker room. He was a standup guy with the media no matter what was going on — he was willing to answer questions all the time during the long losing streak of 2012 — and it was always entertaining to see Colledge head into and out of the showers with his wireless speaker booming ’80′s hits that came out before many of his teammates were even born.
This now means Watford and Paul Fanaika will battle for the right guard spot, and the Cardinals would like Watford, a 2012 fourth-round pick, to take control of the position. And in the bigger picture, General Manager Steve Keim continues to overhaul the roster and clear out some of the contracts left over from the previous regime in an effort to get the salary cap under control.
Thanks for all the support guys, it means a ton, I’ve enjoyed my time. Between the Pack and Card fans my next team has a lot to live up to.
— Daryn Colledge (@DarynColledge71) March 9, 2014
For now while I wait for FA and my future. I’m gonna watch Toy Story with my kids and put in an early ballot for Father of the Year. #NoBigs
— Daryn Colledge (@DarynColledge71) March 9, 2014
Tags: Daryn Colledge, Earl Watford, Jonathan Cooper, salary cap
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The salary cap for 2014 was officially set at $133 million this season, a jump of $10 million over last season — huge for any team looking for flexibility to do business (and a boon for those hoping for big-time extensions like Patrick Peterson). And Adam Schefter reported this morning that the cap will be more than $140M next year and then $150M by 2016. All great news for the Cards, with Steve Keim already working hard to get the cap situation under control by next year anyway.
I’ve had a few ask me about Cards’ cap space now. With a $133M and the Jasper Brinkley release today (creating $2M in cap space), the Cards should have a little more than $18M of space.
Some suggested to me earlier today, after the Schefter report, that it will make things easier with Larry Fitzgerald going forward. That probably is true. But with that bloated $23.6M cap figure for 2015, it still stands to reason that a major decision is coming after this year for both the Cardinals and Fitzgerald. Keim reiterated for the umpteenth time at the Scouting combine the plan is for Fitzgerald to remain a Cardinal for his whole career. But the reality is this, and it’s been covered many times as well — with a big roster bonus due, that unwieldy cap number, and the unrealistic idea that the Cards can simply keep kicking Fitz’s cap pain into future years as he gets older, Fitzgerald is probably going to have to agree to take less money in 2015 than he is now currently scheduled. If he says no, that puts the ball back in the Cardinals’ court with Keim facing one of his famous “tough decisions.”
But that’s another reason why the news the cap is growing so quickly can benefit the Cardinals. Keim has been adept already at maneuvering the roster anyway. To be able to have more space to really stretch his legs and build how he wants to build plays into that sustained success he so often speaks about. The Cards want to build with draft picks and lock up young stars. That’s the plan. That the Cards seemingly will have weathered their cap overhaul under Keim and stayed competitive is impressive.
Tags: Larry Fitzgerald, salary cap
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The news around the salary cap — which will be officially set closer to the start of the new league year/free agency on March 11 — continues to be an adjustment upward of its estimate. Now the possibility is that it is around $132 million, which of course means every team’s projected cap space continues to get bigger. Kevin Seifert has the Cardinals, with that $132M cap, with a projected $15.295 million of cap space. That’s not a bad number, although it ranks in the lower half of the league — 18th, to be exact. A whopping 13 teams are projected to have more than $22M of cap space, and the Raiders ($66.39M), Jaguars ($55.13M), Browns ($51.23M) and Colts ($40.01M) all have more than $40M in cap space.
So there will be the possibility for some big free agent deals.
The Cards are in the same stratosphere, but that’s OK. The Cards don’t want to get sideways with big commitments to players who shouldn’t get them. There is enough room, however, to make some things work. The other plus is that the Cards, right now, have the most cap space in the NFC West. The 49ers are next with $11.84M, then the Rams at $6.32M and then the Seahawks at $4.78M.
This is all fluid, of course, with Seattle able to cut players if they want, for example, or the Cardinals re-signing one of their own guys (Karlos Dansby, anyone?). The Cardinals could still also release a player or two that they know they won’t be moving forward with to create more cap room.
The Dansby situation is one that bears watching, in fact. There is enough cap room across the league that would allow more than a few other teams to money-whip Dansby if they so chose. Again, in the case of Dansby, I don’t see the Cardinals getting into a big bidding war. They will want to reward him, but within reason. Extra space also could play into potential Patrick Peterson negotiations.
Tags: 49ers, Karlos Dansby, NFC West, Patrick Peterson, Rams, salary cap, Seahawks
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With all the discussion the last couple of days about Larry Fitzgerald and his contract and the salary cap, it seemed prudent to hit on some points about the cap, how it works, and what some of the terms mean that are constantly being thrown around.
– The salary cap, in simplest terms, is the limit, in dollars, the sum total of the players on each team can cost each season. The projected cap for each team (it is finalized right around the time free agency begins) in 2014 is reportedly about $126 million. Teams, through certain cap strategies, can carry over some unused cap space from the year before, however, so that number might be slightly larger for some teams.
– In the offseason, a team’s cap number is determined by the top 51 cap numbers on the roster. Once the regular season begins, every player’s cap number — the 53 on the roster, the eight on the practice squad and anyone on injured reserve — counts against the cap.
– A player’s salary is counted against the cap each season, as is a pro-rated part of a bonus. Say a player signs a three-year contract for $2 million salary each year, and gets a signing bonus of $3 million. He gets $5 million in real money the first year — salary plus the bonus check — but his cap number that first year is $3 million ($2M plus $1M in pro-rated bonus.)
UPDATE: A bonus can be pro-rated over the first five years of a contract. Which is why, prior to this latest restructure, Fitzgerald had no pro-rated bonus money on his contract past the 2015 season. Because he signed an eight-year deal in 2011, the pro-rated part only worked through the first five seasons.
– Cap numbers can be lowered, like it was in the case of Fitzgerald. His cap number was set to be more than $18 million, which included $12.75M in 2014 salary and about $6M in various pro-rated bonuses. The Cards made $11.75M of that scheduled $12.75M salary into a bonus for March. Fitzgerald benefits because instead of taking that $12.75M 1/17th at a time in his weekly in-season paychecks starting in September (which is how players get their salaries, only in-season), he gets $11.75M of it in one big check in March. The Cardinals benefit because now, with his salary shrunk to $1M and the $11.75M pro-rated over the remaining five years of his existing contract is spread out. It shaves $9.4M off Fitz’s cap number now, but adds another $2.35M to his cap numbers for each of the final four years of the contract (because all five years absorb $2.35M of that $11.75M).
– When talking about a player adjusting his contract, there are basically four directions it can go: A player can get a brand-new deal, where he is never a free agent but the team rips up his existing contract for a better one. A player can get an extension, which usually keeps the deal in place for the current year but tacks on more years and adds, usually, a signing bonus. A player can restructure, which is what Fitzgerald did. The money stays the same, and essentially, paperwork is used to adjust what the money is called (and when it’s paid out) so it lowers/increases the cap number. And then there is a pay cut, which is exactly how it sounds. From time to time, players are willing to accept pay cuts — reductions in salary — that will obviously lower a cap number without future cap hits.
– Dead money is the cap hit left by a player once he is no longer on the roster. It’s something every team ideally wants to avoid, although it’s all but impossible to have zero dead money. Even an undrafted rookie with a tiny signing bonus leaves some dead money if cut.
– Dead money is accounted basically by all the leftover pro-rated money that hasn’t already been used. With Fitzgerald, for example, if he were cut (or traded) after this season, his dead money would start at $9.4M of cap space, or the remaining four years of pro-rated bonus money for his restructuring earlier this week. That doesn’t include his other pro-rated bonus money he already has (which would take his dead money to more than $14M next season.)
– The dead money is almost always hits the cap the first season and then is over with. The exception is if a player is a post-June 1 cut — or is designated a post-June 1 cut — in which case the team takes a hit of one season’s worth in Year One and the rest the subsequent season. For example, Adam Snyder was cut last season with $4M in dead money and four years left on his contract. Cards made him a June 1 cut, meaning they only had to take a $1M hit in 2013 (pro-rated of what was left.) This year, however, the Cards most absorb the remaining $3M in dead money from Snyder.
– Those are the basics. For a much more in-depth salary cap FAQ, this page is pretty good.
Tags: Larry Fitzgerald, salary cap
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There are only two head coaching openings left, both of which Cardinals defensive coordinator Todd Bowles interviewed for: Cleveland and Minnesota. Bowles has now, according to multiple reports, pulled out from the consideration for the Cleveland job. Mike Zimmer, interviewing a second time in Minnesota, is the favorite for the job there but, as I mentioned earlier today, I didn’t think Bowles was going anywhere anyway. There is a chance Bowles will be a head coach again some day (after his interim stint in Miami) but it’s going to have to be the right fit. I’m not sold Bowles is aching to be a head coach, not when he knows the pitfalls of bad situations. Assuming Bowles stays, that would be great news for a defense that flourished under his watch.
UPDATE: On Wednesday morning, Mike Zimmer was officially hired as Vikings coach. Bowles is going to be in Arizona.
– Numbers guru Brian McIntyre reported today that QB Carson Palmer earned an extra $1 million for his 2014 salary (I’d assume for reaching performance incentives) and now will make $9 million in 2014 with an $11 million cap hit, raising each number by that aforementioned million and shaving another million off the Cardinals’ current cap space.
– Along those same lines, linebacker John Abraham earned an extra $375,000 for 2014, raising his 2014 salary to $2.875M.
– Congrats to Tyrann Mathieu, who was named as a cornerback to the Pro Football Writers of America’s all-rookie team for 2013. And GM Steve Keim was named Executive of the Year by profootballtalk.com.
Tags: Carson Palmer, John Abraham, salary cap, Steve Keim, Todd Bowles, Tyrann Mathieu
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