Fitz restructures contract

[Azlen]

https://twitter.com/LarryFitzgerald/status/430822732620521472

Back in AZ from #SB48 & the 1st order of business this AM was signing a restructured contract to help the @AZCardinals get better for 2014!


I haven't seen anything yet on how it was restructured.

 

[TJ]

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[NJCardFan]

This why Fitz is going to go down as my all time favorite player. Team first.

 

[MaoTosiFanClub]

Can't believe people still compare this guy and his overall greatness to that idiot Anquan.

Go Fitz. Best Cardinal Ever.

 

[82CardsGrad]

Just another day in the life of Larry Fitzgerald...


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[GatorAZ]

This why Fitz is going to go down as my all time favorite player. Team first.

Wait he's taking pay cut? Restructuring is just shuffling money to the future he still gets all of it...

 

[Cheesebeef]

looking forward to seeing how this effects our cap.

 

[TJ]

Can't believe people still compare this guy and his overall greatness to that idiot Anquan.

Go Fitz. Best Cardinal Ever.

Cue Shane meltdown in 5...4...3...2...1...

 

[BigRedRage]

good news! Shazzam photo is classic!

 

[the_future23]

Great mindset and love him but at some point he's going to want his money lol and hurt e cardinals one season.

Unless there is a loophole around this and it can defer to bonuses or something. Idk.

 

[az jam]

Great news from the face of the Cardinal organization.

 

[Southpaw]

I am not pushing for a trade, but would this make him easier to trade?

 

[pacman]

Albert Breer ‏@AlbertBreer 2m
Fitzgerald's cap # for 2014 is $18 million, and $5.25M of that is prorated bonus money. That leaves the Cards his $12.75M base to play with.

 

[Cheesebeef]

Albert Breer ‏@AlbertBreer 2m
Fitzgerald's cap # for 2014 is $18 million, and $5.25M of that is prorated bonus money. That leaves the Cards his $12.75M base to play with.

am I reading that correctly that our cap room just went from 2 million to 12 million with this restructure?

 

[Buckybird]

Now, get the real #58 done on the first day of FA & I'll be happy

 

[crisper57]

am I reading that correctly that our cap room just went from 2 million to 12 million with this restructure?

I don't think Breer has the details. He is just saying that no restructure can impact the $5 million (that's really, really dead money). So they only movement can come within the $12 M.

Or I could be wrong too.

 

[DemsMyBoys]

Not surprising in the least.

Larry is first, last and always a Cardinal.

 

[BillsCarnage]

I don't think Breer has the details. He is just saying that no restructure can impact the $5 million (that's really, really dead money). So they only movement can come within the $12 M.

Or I could be wrong too.

That'd be my guess too. But, i'd also reckon the Cards will have $10+mill free after restructure.

 

[Shaggy]

am I reading that correctly that our cap room just went from 2 million to 12 million with this restructure?

That's crazy if that's true!

 

[Billy Bob]

 

[BillsCarnage]

http://arizonasports.com/40/1697762/NEW-CONTRACT

Fitzgerald was due to earn $12.75 million in base salary this season, with the rest of the cap hit being part of a prorated signing bonus

Basically I think that $12mill will be converted and spread out as a signing bonus. Correct me if I'm wrong...

 

[football karma]

so as Breer pointed out--

the easy restructure is to take money due in salary in 2014 and convert to bonus. That pushes that money out to 2015-2018.

the problem is the 2015-2018 numbers arent small even prior to restructure: $21.25, $15, $15, $15.

so -- I am guessing this:

I suspect that this is a one year at a time deal. If Larry is productive and the team wins, they restructure to some extent again next year -- with the idea that in 2016 he gets cut, and the Cards eat a giant dead money hit that year.

 

[ASUCHRIS]

so as Breer pointed out--

the easy restructure is to take money due in salary in 2014 and convert to bonus. That pushes that money out to 2015-2018.

the problem is the 2015-2018 numbers arent small even prior to restructure: $21.25, $15, $15, $15.

so -- I am guessing this:

I suspect that this is a one year at a time deal. If Larry is productive and the team wins, they restructure to some extent again next year -- with the idea that in 2016 he gets cut, and the Cards eat a giant dead money hit that year.

Exactly...as Winston Wolf said, let's not start...well, you know. Sounds like almost any way you cut it, we'll either have to deal with the pain now or later.

"his would create nearly $10 million in additional cap room but at a major cost moving forward, with incredibly high dead money charges and salary cap charges. This is for a player who has accounted for just 1,752 yards in the last two seasons combined and will be 31 in August. "

http://overthecap.com/initial-reaction-larry-fitzgeralds-restructured-contract/

 

[Chopper0080]

am I reading that correctly that our cap room just went from 2 million to 12 million with this restructure?

12.75 million is eligable to be turned into bonus dollars. Spread over 5 years, the Cardinals could reduce his that portion of his 2014 cap hit to 2.55 million which would result in a 2014 savings of 10.2 million. That would be the extreme case.

 

[Hollywood]

Good news in the short term but he didnt take a pay cut. Those are rare in the NFL. He just restructure his contract. He still getting all the money he was supposed to get. It's just the way they're paying him changed.