Renegotiations

Dolphins Remove Bryant McKinnie’s 2014 Season

Posted on by Jason Fitzgerald

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In a very small bit of housekeeping today I noticed that the contract of LT Bryant McKinnie no longer contained his 2014 season according to records maintained with the NFLPA. I was able to confirm through a League source that the Dolphins did indeed restructure the contract of McKinnie to delete the season from his contract, allowing McKinnie to become a free agent in 2014. No terms of his 2013 season were changed and he maintains his cap charge of $650,735.

In his contract signed with the Ravens McKinnie could have earned up to $3 million in compensation via his P5 salary, roster and workout bonuses, and weight incentives in 2014. None of the money was guaranteed and McKinnie’s traded contract contained no dead money so in essence the Dolphins could have kept the season intact and simply cut him next year. If I had to venture a guess maybe the Dolphins thought that dangling free agency in front of McKinnie could motivate him to perform for a new contract, though at 34 years of age it is hard to imagine much of a market for a player like McKinnie and such a tactic working.

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Ike Taylor Restructures Contract with Steelers

Posted on by Jason Fitzgerald

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Per our buddy Ian Whetstone (who probably keeps the most detailed cap notes anywhere) the Steelers restructured the contract of Ike Taylor yesterday by rolling $2.976 million of his salary into a prorated bonus:

This was a move that the Steelers needed to make due to lack of cap space. Prior to the contract restructuring the Steelers were just $247,000 under the salary cap and one more injury was liking going to compromise their ability to maintain a 53 man roster. The Steelers decision to release RB isaac Redman was essentially the same result as losing someone for the season as his $1.323 million dollar salary was fully guaranteed and would count in full on the cap even though no longer on the roster. He was replaced by LB Kion Wilson, who cost the team just under $330,000, pushing them the brink of the cap.

Taylor’s 2014 cap charge will rise by $1,488,236. The Steelers will have some major decisions on the hands in 2014 when it comes to the salary cap due to the multiple restructures they have used on a number of high priced players.

View Ike Taylor’s Salary Cap and Contract Page

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Breaking Down Brian Robison’s 4 Year Contract Extension with the Vikings

Posted on by Jason Fitzgerald

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Yesterday we had learned that DE Brian Robison had signed a contract extension with the Minnesota Vikings. Through a league source we now have a full picture of the financials surrounding the contract. The contract is for 4 years and is worth a total of $22.4 million in new money. The  only money fully guaranteed upon signing is a $5 million dollar signing bonus, though his current base salary was already guaranteed.

Robison had been scheduled to earn $4.4 million in base salary in 2013. Robison will now be paid at a rate of $2.83 million for the remainder of the season. He will receive a $5 million dollar signing bonus to bring his actual compensation in 2013 to $8.4 million. His salary cap figure remains unchanged for the season.

In 2014 Robison’s base salary is $4 million  and he is also eligible to receive $200,000 in roster bonuses for games active, a $100,000 workout bonus and NLTBE incentives of $1.2 million based on playing time, sacks, Pro Bowls, and the NFL DPOY award. The salary is guaranteed for injury only and becomes fully guaranteed on the 3rd day of the League Year.

In 2015 the P5 will be $4.15 million and the same bonus structure is in place. His salary is guaranteed for injury only with $2 million becoming fully guaranteed  on the 3rd day of the League Year and the balance becoming fully guaranteed on July 1.

In 2016 and 2017 he will earn $3.75 million and $5.3 million respectively in P5 salary along with the same bonus and incentive structure in the other years. No guarantees are included for these seasons.

View Brian Robisons Salary Cap and Contract Page

View Brian Robisons Financial Charts

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Giants Gain $1.25 Million in Cap Space With Snee Restructure

Posted on by Jason Fitzgerald

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I don’t any firm source on this, but based on NFLPA records it seems as if the Giants have again restructured the contract of G Chris Snee by passing along $2.5 million of his $4.2 million base salary in the form of a signing bonus.The Giants cap was so tight after the signing of FB John Conner ($60,000) that they were in a position where they had to make a move just to function for the rest of the year. Snee has always been the teams go to guy for restructures and they went there again.

It does not seem any other changes were made to the contract and essentially the Giants are simply deferring $1.25 million in cap charges to 2014 when their salary cap books are a bit cleaner than they are in 2013. Snee’s cap next year should be $11.75 million with a dead money charge of $4.5 million if released. With the Giants in the middle of a very disappointing season he could be one of many veterans let go after the season, but for now he’ll give the Giants some much needed breathing room.

If I hear anything more on the contract I will pass it along.

View Chris Snee’s Contract and Salary Cap Page

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Breaking Down Rob Ninkovich’s Contract Extension

Posted on by Jason Fitzgerald

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Late last week DE Rob Ninkovich of the New England Patriots signed a 3 year contract extension that would keep him a Patriot through 2016. Via a League source with knowledge of the contract we have the full breakdown of the deal.

Ninkovich had been scheduled to earn $1.4 million in Paragraph 5 salary and was eligible for $900,000 in playtime incentives. Under his new contract the playing time incentive has been removed and he will receive a $5 million dollar signing bonus. He can also earn a $200,000 bonus if selected to the Pro Bowl.

In 2014 Ninkovich will have a base salary of $1 million which is fully guaranteed. He can earn a total of $250,000 in roster bonuses for each game active as well as a $100,000 workout bonus. He can receive up to $450,000 in incentives tied to playing time and the Pro Bowl.

In 2015 his base salary rises to $2.1 million, of which $1 million will be fully guaranteed if he is on the roster on the 5th day of the League Year. The same bonus and incentive structure exists.

In 2016 the Patriots reduced his base salary to $1.5 million and made the contract more incentive laden. His roster bonus increases from $250,000 to $300,000 and he can earn a total of $1.85 million in incentive payments.

All told the contract represents a base value of $10.7 million of which $6 million is fully guaranteed and $7 million is guaranteed.  With $6.35 million of the total contract being paid out by the end of the first extension year the contract provides a strong cash flow for Ninkovich. The Patriots will lose $550,000 in 2013 cap room on the extension.

View Rob Ninkovich’s Contract and Salary Cap Page

View Rob Ninkovich’s Financial Graphs

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S Andrew Sendejo Contract Details

Posted on by Jason Fitzgerald

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Yesterday S Andrew Sendejo of the Minnesota Vikings signed a two year contract extension. Per a League source, the contract itself is worth $2.0 million in new money with $200,000 paid as a signing bonus. His salary in 2013 remains unchanged so the cap strapped Vikings only lose $66,666 in cap room in 2013. In 2014 Sendejo’s salary will be $750,000 and in 2015 it rises to $950,000.

Though Sendejo entered the NFL in 2010 he has yet to play in enough games to push his free agent status beyond that of the “Exclusive Rights” category despite his $630,000 salary. In the NFL one earns a credited season for salary purposes with just three games on the Active roster, which Sendejo accomplished each season. However you need six games to earn a season towards free agency status, which he only accomplished in two seasons, which would have left him as a Restricted Free Agent in 2014.

The deal represents a middle ground agreement to take the uncertainty of the season out of the equation. The RFA tender for 2014 should be $1.389 million in non-guaranteed salary. Sendejo will now make $400,000 in fully guaranteed money and a total of $1 million in new money between the 2013 and 2014 seasons.

View Andrew Sendejo’s Contract and Salary Cap Page

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Buccaneers Modify K Connor Barth’s Contract

Posted on by Jason Fitzgerald

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According to a source with knowledge of the contract, the Buccaneers have slightly modified the contract of K Connor Barth. Barth who is currently on the Reserve/NFI list due to suffering an Achilles injury during a charity basketball game had $1.15 million of his 2014 Paragraph 5 converted to an incentivized roster bonus that will be paid for each week he is on the Active 53 man roster in 2014.

The reason for the move is to aid the Buccaneers in creating cap space for 2014. Because Barth will spend no weeks on the active roster the Buccaneers will gain $1.15 million in cap space during the 2014 offseason and free agency period as Barth’s bonus will carry a $0 cap value. This is not an uncommon move for teams as they utilize the prior injury history of players to artificially create cap room in future years.

Barth will be paid $500,000 of his $2.3 million base salary in 2013 while on NFI. The Buccaneers could have opted to pay him nothing while on NFI, but considering he was injured at a charity event it would create a strained relationship with Barth and could have reflected poorly on the organization for others considering the Bucs in free agency.

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