futurescout
Practice Squad
- Joined
- Sep 13, 2013
- Messages
- 757
- Reaction score
- 3
We all know how awful both Ellerbe and Wheeler are. Not sure how familiar everyone is about contracts so I'll post this which perfectly explains June 1 cuts. http://overthecap.com/explaining-the-june-1st-designation/ basically you can designate two players a year as "June 1 cuts" we did the same thing to cut Dansby and Burnett. If we designate Ellerbe as a June 1 cut his dead money drops from 11.6 M to 7.M which would result in 250,000$ in cap savings. If we designate Wheeler as a June 1 cut his dead money drops from 10.6 M to 6.4 M, resulting in no cap savings. The only catch is that you are on the books for their salary until June 1st. Then you get the relief and with the dead money half of it is charged in 2014, with the other half in 2015. As an example in 2014 we are charged 1.25 M for Kevin Burnett and 2.325 M for Karlos Dansby. Basically we can wipe our hands of these AWFUL signings and take no real cap loss. And as far as budgeting for FA we have 38 M in cap space, so we will be fine. We can use the money we get from the June 1st cuts on June 1st for draft picks.