Carson Palmer 1st year CAP hit is....

[MoeIsBetter]

http://sports.yahoo.com/blogs/nfl-s...on-palmer-first-cap-hit-4-194917063--nfl.html

Palmer has a first-year cap number of $4 million as he is technically signed through the 2015 season. The third season, which was included to allow the signing bonus to be prorated over three seasons, calls for a $10 million base salary, but voids if Palmer is still on the roster five days after Super Bowl XLIX.

$4M dollar CAP hit! And a 3rd year option!! This just gets better and better!

 

[PDXChris]

but voids if Palmer is still on the roster five days after Super Bowl XLIX.

Wait, what?!?!?! Is that a legal contract?

Awesome deal BTW.

 

[Totally_Red]

Must be $9 million signing bonus & $1 million minimum for the first year. That's $10 million guaranteed.

 

[MoeIsBetter]

Must be $9 million signing bonus & $1 million minimum for the first year. That's $10 million guaranteed.

...received a $6 million signing bonus and will have a 2013 base salary of $2 million, which is fully guaranteed

From the article.

 

[daves]

Must be $9 million signing bonus & $1 million minimum for the first year. That's $10 million guaranteed.

Makes sense. Then the $9M bonus spreads over 3 years for $3M per year, which combines with the first-year salary for a $4M cap hit the first year.

That would leave a 2nd year salary of $10M to reach the $20M total over two years. Thus, a $13M cap hit in year two. By that point either he will have justified that number, or the team will want to go in another direction. Same with year 3.

Seems reasonable!

...dave

 

[Goldfield]

Makes sense. Then the $9M bonus spreads over 3 years for $3M per year, which combines with the first-year salary for a $4M cap hit the first year.

That would leave a 2nd year salary of $10M to reach the $20M total over two years. Thus, a $13M cap hit in year two. By that point either he will have justified that number, or the team will want to go in another direction. Same with year 3.

Seems reasonable!

...dave

That AND lots of dead money drops off the cap.

 

[daves]

That AND lots of dead money drops off the cap.

Yep if this structure is correct ($9M bonus and salaries of $1M, $10M, $10M) then cutting him after year 1 would result in $6M of dead money against the cap; cutting him after year 2 would result in only $3M in dead money.

But i'm unsure about two things. First, does the (new) CBA allow a salary to jump that much from year 1 to year 2? And second, if the third year voids if he's on the roster 5 days after Super Bowl 49... how could he possibly ever get to year 3? The alternative is that he's cut before then. It seems unlikely that the NFL would allow spreading the cap hit over a 3rd year that cannot possibly happen. Something seems amiss.

...dave

 

[MoeIsBetter]

Yep if this structure is correct ($9M bonus and salaries of $1M, $10M, $10M) then cutting him after year 1 would result in $6M of dead money against the cap; cutting him after year 2 would result in only $3M in dead money.

But i'm unsure about two things. First, does the (new) CBA allow a salary to jump that much from year 1 to year 2? And second, if the third year voids if he's on the roster 5 days after Super Bowl 49... how could he possibly ever get to year 3? The alternative is that he's cut before then. It seems unlikely that the NFL would allow spreading the cap hit over a 3rd year that cannot possibly happen. Something seems amiss.

...dave

What I took it to mean is that if he's on the roster 5 days after Super Bowl, then his 10 million would became guaranteed. That's just the way I took it, but I could be wrong.

 

[oaken1]

it is my understanding that the "third" season is just a ghost....it allows the bonus to be pro rated over three years, allowing cap flexibility,...and it calls for a 10 million salary....but year three does not actually exist....the contract voids a week after the Super Bowl, which should then accelerate the last 2 million of bonus money back on to the 2014 cap number.....since the contract has an auto void included in it's wording Palmer will either get a new contract before that date or be automatically cut, negating the 10 million salary season.

 

[Dan H]

Somewhere, Rod Graves is curled into a ball in a corner, rocking back and forth.

"The horror, the horror."

 

[D-Dogg]

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[Goldfield]

Somewhere, Rod Graves is curled into a ball in a corner, rocking back and forth.

"The horror, the horror."

This is what I was thinking... Contracts in the past were always front loaded to use up all our cap limiting our ability to add talent. This is completely the opposite.

I am excited to see where Kiem takes us.