Miami Dolphins can easily clear $40 million in cap space this offseason
- Thread starter DKphin
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Omar has Ellerbe being a pre Jun 1 cut which hurts the Dolphins. Post Jun 1 they save 15 million or so on him, Hartline and Wheeler according to Over the Cap. I think his logic is flawed here and I am not listening to his podcast. Any of the cap guys have thoughts on what he is saying?
Fintastic2124
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Too many guys getting grossly overpaid
If I understand your question Maddog Omar said once before that you can designate 2 players that you must cut by June 1, but you can get the cap relief early, before you actually cut them in June. I had posted that in one of the Wallace threads because he would be a candidate for that if they make the decision to release him.
BahamaFinFan78
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I was surprised that he was not very in depth with his details.
t-dubya
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"They can save $40 million, now listen to me talk for a half an hour to find out how..."
No, thank you Omar.
No, thank you Omar.
In typical Omar fashion he looks like a buffoon. He is semi-right but his numbers don't make sense to me, keep in mind I'm using websites that may not be as good as his "insiders" but I trust the info I use since it hasn't never been more than some loose change off the actual numbers.
The difference between Wallace and Hartline is more like 2M. If you cut Wallace you save 5.5M (6.6M dead) and if you cut Hartline you save 3.15M (4.2M dead). I don't know about the pre/post deadline effect however when it comes to their contracts.
Ellerbe is a no brainer save 5.65M (4.2M dead). Randy Starks is an easy target save 5M (1M dead). Gibson could save 3.2M (1M dead). So yes there are ways to clear up a ton of space but getting to 40M isn't just about cutting the players it is about the quality of the replacements.
It isn't like Miami has a horde of draft picks this year, just the standard 1 thru 7 and maybe a conditional or two if they are lucky. Hartline should restructure his contract if he wants to stay or he is gone. Wallace is purely based on merit, you can cut him this year and make out or next year and make out like a bandit (his dead money goes way down in 16). I see no way Ellerbe is back with the team, total cap casualty, you cut one guy and have enough money to sign an entire draft class, no brainer.
The rest of the guys depend on free agency and the draft, I don't know Hickey's plan anymore than Omar does. Cards fall the way the game dictates they fall and not the way you say they should. That's what makes the rest of the guys on the team with a high savings to cap ratio a target.
BahamaFinFan78
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I think Gibson and Hartline need to go if you are keeping Wallace. He along with Landy, Matthews and a draft pick can make up your receiving core. Ellerbe, Starks and Wheeler can all go and save a ton of money. I would make Wheeler one of my June 1st cuts. Sturgis and Fields are also making too much-let them go. On a smaller note, Nate Garner is not worth what he is getting paid either.
But if you don't cut some player pre-June 1st how do you come up with the cap space to re-sign our own or other free agents? Free agency starts in March...if we don't have cap space we can't offer any of them.
JTC111
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Just in case some don't know, all teams have to be under the cap by March 10 and the draft isn't until April 30.
No doubt we're gonna have to let go at least 4 or 5 players before free agency starts if we want to get any free agents. I'll be happy if we can get a new starting guard,DT and corner. 3 players is not asking too much imo. Then we need 3 starters from the draft and 2 young players that were on the team last year to become starters...,Turner and Taylor comes to mind.
where's th'fish
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Really? You can give a player a June 1 designation and get the cap relief instantly? I hadn't heard of that. As far as I know the drawback of the June 1's is you can give them the designation early, but you still have to carry their number until June 1.
edit: Oh, just in time: http://overthecap.com/dolphins-2015-salary-cap-outlook/
Will read now.
That is what Omar said, will take a look around and see if I can find something to support that.
Maybe this is what he is referencing..but it doesn't seem like immediate relief.
One of the more complex phrases prevalently used this time of year is the Post June 1st release. I’ll do my best to explain this in layman’s terms as it most often applies to a player.
Real Example:
The Cowboys recently released WR Miles Austin, designated him a Post June 1st Release. He carries $7,855,600 in total dead cap right now, $2,749,400 of which is allocated to the 2014 cap, $5,106,200 if which will accelerate to the Cowboys’ 2015 cap.
The first thing to note is that Austin is being released on March 12th, and being designated a June 1st release. Per the rules of the CBA each team has the option to designate two players per year in this manner. The catch here is that Austin’s current contract must stay completely active on the Cowboys’ books until June 2nd. This means his original $8,249,400 cap figure will remain on the Cowboys salary cap until this time.
One June 2nd, all Post June 1st Designations are properly allocated in this manner:
Any bonus money allocated to the current year (2014) + any guaranteed salary throughout the remainder of the contract turns into 2014 dead money. In the case of Austin this includes the $2,749,400 in restructure bonuses.Any bonus money allocated to the remaining years of the deal (2015+) are accelerated into 2015 dead money. In the case of Austin this means $5,106,200.
http://www.spotrac.com/blog/understanding-2014-post-june-1st-releases/
Or maybe this:
If a player receives a $5 million signing bonus for a five-year contract, the player gets a $5 million check upon signing, but the money is prorated for salary cap purposes—counting $1 million per year for each year of the contract, including the year it is signed. This is a way of giving players a bigger payment with less of a cap hit, but there is a potential downside called acceleration.
If the above player is released after year-one of his five-year deal (4yrs remaining), the $1 million yearly signing bonus payment—spread out in the contract—now accelerates, or is added altogether, onto the current year’s cap. It becomes dead money or a cap charge for a player no longer with the team.
Under this scenario, if the player was released before June 1, assuming the contract was signed in 2014, the team would lose $4 million in cap space for 2015. But if the player is released after June 1, the team has a dead money cap charge of $1 million in 2015 and $3 million in 2016. The team still has a dead money hit of $4 million, but the acceleration (adding together of the prorated bonus) now takes place in the following season.
So a post-June 1 release gives a team more resources in the current year, which they may need, and pushes portions of the charge to the next year.
http://onejetatatime.com/2014/guest-nfl-post-june-1st-cuts-explained.html
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