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Wednesday, May 15, 2013

Deangelo Williams Restructures

This one comes oddly sourced, from yahoo's Shutdown Corner. I do trust
the source, and they had a Haruki Nakamura restructure that I'm not sure
some of the local media ever actually covered (or got the cap numbers
correct with).

http://sports.yahoo.com/blogs/nfl-shutdown-corner/panthers-save-3-2-million-cap-space-restructuring-121345904.html

The full numbers are in the link, I won't bore you with them myself.
The gist of it - he took a small cut (lopping off $100,000 worth of
workout bonus), took most of his salary and put it into signing bonus to
spread $4 million across the next five years.

The more important part is that while he earns his 2013 in full thanks
to the signing bonus, 2014 and 2015 have greatly reduced salaries. The
workout bonuses continued to be lessened, and there's a total of $8
million in salary savings over those two years. So for $4 million this
year they likely would've paid anyway, they get immediate savings now
and future savings that essentially amounts to a paycut. Average of $4
million in '14, '15 to go with the new proration is a net savings of
$3.8 million per year in those years, and $3.2 million this year.

Also, since his deal includes this new Dave Gettleman trick of
automatically voidable years (the years of '16 and '17 void if he's on
the roster at the very end of '15, so barring a renegotiation it gives
an end date to Williams' tenure here. It would still be somewhat tough
to cut Williams after "14, but even then, the natural age-out after '15
will cost them nearly $3 million. Williams, who just turned 30 two
weeks ago, would be 32 at that point.

Carolina drafted RB Kenjon Barner in the 6th round, and there had been
speculation about Williams being a June 1 cut (moving the rest of his
cap hit to 2014). Now, that's highly unlikely he'll be cut. It does
create a potential concern on dropping a draft pick on a 3rd (or 4th
depending on Mike Tolbert) RB that might handle returns in '14 if Ted
Ginn is gone, but otherwise might have a continued issue getting
carries.


So what does Carolina need extra money for?

Hard to say. I believe they're shorter than what they needed for draft
picks, but a quick bit of work on a napkin suggests they'll have a
little left over. $3.2 million covers most of what draft picks will
cost, which I estimated at around $4.3 million.

With OTs like Max Starks and Winston Justice out there, and fantastic
guard Brandon Moore still waiting for a deal, eventually one of them may
decide they want to play rather than sit and wait for a payday they're
not likely going to get at this point. That could fill a short term
hole on the OL, which wasn't really filled to completion in my opinion
in the draft. Ed Kugbila might be able to contribute, or might not, but
the team didn't improve competition or talent at OT. If Kugbila isn't
ready, which isn't a stretch for a guy from that small a school, there's
no real change on the OL excluding Ryan Kalil returning.
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