Monday Morning Stock Down

Mike Vick- Just an awful season and it gets worse by the day. Another non-200 yard passing performance and a turnover to boot. Vicks re-signing was some overreaction to a small sample of actual games and he has not rewarded the Eagles at all. He has a good chance of being benched as the head coach struggles to save his own job. Vick has no job security with the team right now. He has no cash guarantees left in his contract provided the Eagles release him before the start of the 2013 waiver system in February. His dead cap hit is only $4.2 million which will represent $12.7 million in cap savings. Most importantly they free themselves of $15.5 million in cash commitments.

Nnamdi Asomugha- Sticking with the Eagles theme, Asomugha is the face for the poor moves they have made on defense in Philadelphia. Asomugha still gets respect from teams but when he gets thrown on he gets toasted and that is what happened this past weekend as he gave up a 63 yard TD reception against the Falcons. Depending on how one values the Darrelle Revis contract, Asomugha is the highest or second highest paid corner in the game, but he is not a difference maker at all. Asomugha has $4 million in guaranteed salary next season but received no signing bonus so there is no real sunk cost for the team to chase. If there is an offset for that salary the Eagles would likely be able to cut him and just have someone else pick up the tab. At worst, if there is no offset for the guarantee, it is a savings of $11 million in both cash and cap.

Tony Romo- Yes he led them back and yes he almost got saved by a miracle grab by Dez Bryant, but 4 interceptions just doesnt cut it. Romo has one of these wacky contracts where the backend is all void seasons giving the team significant reason to extend the term of the real contract. Romo’s real contract ends in 2013, but he has become the poster child in Dallas for failure. Romo has a salary due next year of $11.5 million and a cap charge of $16.8 million. It is unlikely that Dallas’ owner would consider an extension at this point and with each passing game Romos value sinks. Cutting or trading him would cost Dallas $13.5 million in dead money which would result in a net savings of $3.3 million. Dallas has eaten big cap hits before for players and if the right package came along would do the same with Romo.