BuffBillsMan90
is Clumpalicious!!
The Official Cap Compliancy Thread
In this thread, I will start keeping track of Miami's moves to become cap compliant before the 2004 League Year starts March 3rd(4th?). One point that MUST be made: Cap compliancy includes tender offers to any "tagged" players and RFA & EFA. Why? Well, because the deadline to tender these players is before the above date.
The unadjusted salary cap for 2004 is $80,582,000
I reserve the right to revise and extend my remarks. Without objection, so ordered! :) MMMMPH! Ah wanna pwrotest, but ahm bound in duct tape!!! <-----has gotta be Muck
UFA: WR Gadsden, OL Nails, OT Wade, TE E. Perry, KR Charlie Rogers, FB Ayanbadejo, DE Burnett, LB Hendricks, CB Wyrick, S Freeman (Re-signed), S Wooden, and CB Buckley
RFA: DE Ogunleye(NC), LB Greenwood(3rd), RB Minor(3rd), QB Rosenfels(5th)
EFA:: OL Jerman, DT Romero (Re-signed), RB L. Henry (re-signed 1yr-$380,000)
Official Moves(bold)
1) Re-signed RB Leonard Henry(potential EFA): 1 yr-$380,000
2) Restructured DL Jay Williams: salaries for 2004 & 2005 both reduced. 2004: $1.2 million--->$660,000 and 2005: $1.3 million---->$900,000. He accepted a pay cut in 2004. He has a $12,500 roster bonus in 2004. The move saves $527,500 on 2004 cap
3) Simple restructure by DT Larry Chester: salary of $1.525 million reduced to $535,000. The difference of $990,000 likely converted to signing bonus and amortized over 3 yrs at $330,000/season. Cap number lowered from $2.095 million to $1.185 million. Cap savings on 2004 is $910,000 if you include the waived roster bonus of $250,000
4) WR Derrius Thompson: guarantee roster bonus(treat as signing bonus): saves $200,000 on 2004 cap. (OFFICIAL but numbers not available)
5) LB Zach Thomas: appears imminent that his $4.5 million roster bonus will be guaranteed, thus amortized at $900,000/season: saves $3.6 million on 2004 cap. His salary was reduced from $2.845 million to $660,000 with the difference also guaranteed. Total cap savings: $5.358 million
6) K Olindo Mare: signed to 3 yr contract extension. 2004 salary reduced from $1.85 million to $660,000. Given $2 million signing bonus. Cap savings of $916,667
In this thread, I will start keeping track of Miami's moves to become cap compliant before the 2004 League Year starts March 3rd(4th?). One point that MUST be made: Cap compliancy includes tender offers to any "tagged" players and RFA & EFA. Why? Well, because the deadline to tender these players is before the above date.
The unadjusted salary cap for 2004 is $80,582,000
I reserve the right to revise and extend my remarks. Without objection, so ordered! :) MMMMPH! Ah wanna pwrotest, but ahm bound in duct tape!!! <-----has gotta be Muck
UFA: WR Gadsden, OL Nails, OT Wade, TE E. Perry, KR Charlie Rogers, FB Ayanbadejo, DE Burnett, LB Hendricks, CB Wyrick, S Freeman (Re-signed), S Wooden, and CB Buckley
RFA: DE Ogunleye(NC), LB Greenwood(3rd), RB Minor(3rd), QB Rosenfels(5th)
EFA:: OL Jerman, DT Romero (Re-signed), RB L. Henry (re-signed 1yr-$380,000)
Official Moves(bold)
1) Re-signed RB Leonard Henry(potential EFA): 1 yr-$380,000
2) Restructured DL Jay Williams: salaries for 2004 & 2005 both reduced. 2004: $1.2 million--->$660,000 and 2005: $1.3 million---->$900,000. He accepted a pay cut in 2004. He has a $12,500 roster bonus in 2004. The move saves $527,500 on 2004 cap
3) Simple restructure by DT Larry Chester: salary of $1.525 million reduced to $535,000. The difference of $990,000 likely converted to signing bonus and amortized over 3 yrs at $330,000/season. Cap number lowered from $2.095 million to $1.185 million. Cap savings on 2004 is $910,000 if you include the waived roster bonus of $250,000
4) WR Derrius Thompson: guarantee roster bonus(treat as signing bonus): saves $200,000 on 2004 cap. (OFFICIAL but numbers not available)
5) LB Zach Thomas: appears imminent that his $4.5 million roster bonus will be guaranteed, thus amortized at $900,000/season: saves $3.6 million on 2004 cap. His salary was reduced from $2.845 million to $660,000 with the difference also guaranteed. Total cap savings: $5.358 million
6) K Olindo Mare: signed to 3 yr contract extension. 2004 salary reduced from $1.85 million to $660,000. Given $2 million signing bonus. Cap savings of $916,667
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