The Patriots are no stranger to surprising late summer roster moves and this year’s edition sees them moving long time Guard Logan Mankins to the Tampa Bay Buccaneers for Tim Wright and a draft pick.
Mankins, our pick for worst contract on the Patriots over the last two seasons, signed a monster contract in 2011 that he had little chance to live up to. His contract remains the top valued contract among Guards and he is still a top five earner in cash salary, four years into the deal. He carried a $10.25 million cap charge in 2014 for the Patriots which was the 2nd highest in the NFL at the position this year.
Mankins still had $8 million in dead money remaining in his contract, but because this move was made after June 1 the Patriots will split that cost across two seasons. Mankins also earned a $250,000 workout bonus so his cap charge for the Patriots this year will be $4.25 million, a savings of $6.25 million. In 2015 he will count for $4 million against the cap.
Tampa Bay will assume Mankins remaining salaries in his contract. Those figures are $6.25 million in 2014 and $7 million in both 2015 and 2016. I did read in a few places the suggestion that Mankins could retire rather than accept the trade, but if that were to occur the Buccaneers would have the rights to try to recover the $8 million in signing bonus money left in his contract. This situation occured years ago when the Denver Broncos traded Jake Plummer to the Buccaneers and Plummer did not want to play in Tampa Bay.
I’d consider this a pretty classic salary dump. Nobody knows how long this trade was being discussed but since the Buccaneers brought in Richie Incgnito for a visit yesterday I would tend to think that may have gotten the Patriots thinking they found a team desperate enough to take Mankins off their hands. The money saved this year will improve their future salary cap position to help extend good players who were drafted in 2010 and 2011 and are up for extensions.