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Friday, February 15, 2013

Kalil restructures




Center Ryan Kalil, signed to a new deal in 2011, has restructured his deal. 

He’s moved $4.75 million in salary and added it to a workout bonus, to move $5 million across four years.   It adds to a 2013 option bonus of $4 million that will count against this year and future years.  The net savings is $2.2 million.  It increases future years’ total cap hit by $1.8 million per year. Any cap acceleration would cost $5.65 million per year through 2015, plus another $4 million total through 2017.

ESPN currently suggests that the move leaves the team at $131 million, but in this prior article:
http://espn.go.com/blog/nfcsouth/post/_/id/44306/updated-2013-salary-cap-space
ESPN states it was already at 131.7 million.  Which would currently drop Carolina to 129.5 million.

Either way, the team has the need to get to $120 million.   The team also needs $4.3 million for draft picks, at the very least; that goes without any replacement players.

I’m honestly a bit surprised that new GM Dave Gettleman is employing such a tactic first, before looking at more friendly contracts. In looking at 2013 and 2014, I really had not considered Kalil’s contract one that needed immediate manipulation, and he didn’t take a pay cut.  He wasn’t going to be cut.  So it’s an odd place to start.  But, it’s a start.
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