Post#1670 » by BlackOutBuzz » Mon Sep 29, 2014 8:05 pm
Unfortunately we can't just "get rid of him." Most of his cap hit is related to signing and restructure bonuses, which players get at signing but the cap impacts are amortized over up to 5 years.
If a player is cut or traded before all of the amortized amounts have been realized, then the future cap impacts either immediately (if cut on or before June 1) or are distributed over two years (if cut post-June 1). If traded, the cap hit from money already paid stays with the previous team, which is why trades (especially player for player) are so rare in the NFL. Some contacts now include "offset language," which gives a team some reprieve if a cut player signs elsewhere by nullifying the amount of salary the player signs for with their new team. The savings, however, are usually negligible.
RE: Stewart
2014 Cap hit: $4,585,000
2014 Dead Money: $18,185,000
While Gettleman did restructure the contract upon his arrival - creating short-term relief but a long-term liability - that pales in comparison to what Hurney did by giving him the contract in the first place. The amount of dead money in relation to salary means that cutting Stewart in the off-season would have cost 4 TIMES THE AMOUNT IT WOULD TAKE TO KEEP HIM. Basically, cutting him this year wasn't an option because doing so would've put us OVER the cap.
2015 Cap Hit: $8,300,000
2015 Dead Money: $13,600,000
The amounts are closer next season, but the dead money if cut still exceeds the cap hit. However, designating him as a June 1 cut makes it a bit better. As a June 1 cut, only the already-paid bonuses and guarantees of 2015 would hit the cap next year. That amount would be $6.3m, a savings of $2m based on the original cap hit of $8.3m.
That said, the other shoe drops in 2016, when all the other dead money hits the cap. That totals $7.3m, which is also over $2m in savings when compared to keeping him.
To summarize: Barring a big year after recovering from injury, I think Stewart is gone next offseason.
#capnerd
Sent from my QMV7A using RealGM Forums mobile app
Hornets Picks by Year
2021: Bouknight, Jones, Thor, Lewis
Protection on future 1st* (to NYK); 2nds
2022: 1-18; CHA (31-55), TOR 2 (55-60)
2023: 1-16; BOS (GH)
2024: 1-14; BOS (GH)
2025: 1-14; CHA (31-55)
*Becomes two 2nds if unconveyed