There were some online rumors of Jon Beason potentially headed to New York, which Jay Glazer of Fox Sports just confirmed:
Panthers source says they are working a trade that would send pro bowl LB Jon Beason to the Giants, who sorely need defensive help
— Jay Glazer (@JayGlazer) October 4, 2013
For the Giants the addition of Beason would put incredible pressure on their salary cap yet again. New York only ha $1.37 million in cap room as of Thursday and that was after restructuring the contract of Chris Snee for the second time in a month. Assuming that this trade would occur next week, and likely hinge on the Giants winning against the Eagles, Beason would come over to the team with a cap charge of $705,882 if the trade is executed next week, so they could fit him on the roster for the time being.
The problem for the Giants lies in the earning of the remainder of his roster bonuses on the season. Each week that he is active he earns $109,375 from the Giants. This money is counted on the cap immediately which means the Giants could be liable for about $1.3 million in additional cap charges by the end of the season. I guess it is possible the Panthers could absorb those charges ahead of time if the package for Beason is strong enough.
Beason’s contract voids at the end of the season so from the Panthers point of view getting anything back from Beason is likely worth the trade. Beason had originally signed a 5 year, $50 million dollar contract that contained a signing bonus of $20 million dollars in 2011. Injuries have seen him only play in 8 games since the injury, with his 9th game coming up this Sunday. Beason had already taken a paycut from the Panthers this season due to his lack of playing time the last two seasons. He will count $8 million in dead money against the 2014 cap for the Panthers if traded.
Edit: Per Glazer the deal is now done pending a physical. since its a week earlier than I assumed the immediate cap charge will be $874,081. The $1.3 million in incentives will remain if the contract is left unchanged.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.