Revis trade and Jets cap hit

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    Revis trade and Jets cap hit

    I have enjoyed watching all the noise about the jets trying to trade Revis and what they might get for him and I just noticed something that is a big problem for the Jets if they do trade him - Dead money! Revis current contract runs through 2016 though he has the option to void the last three years. His prorated bonus is 3M/year based on the 2016 contract end date so at this point he has 12M in 'dead money'. If they trade him this year, all of that bonus shifts to dead cap money and further cramps their salary cap situation. And the kicker is if he voids the contract (which he will) after this year then the 9M prorated bonus from 2014-2016 is dead money anyway.

    You can say that the Jets are not in salary cap hell all you want, but having 12M this year or 9M next year in dead money sure doesn't look like heaven to me!

     
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    Re: Revis trade and Jets cap hit

    RWTK - I actually get pretty bored with most of the 'Jets' back and forth on the board and I was loath to start this thread, but ... I hadn't seen any commentary in all the noise about possibly trading Revis that related to the huge amount of dead money still out there from his signing bonus. 

    And it doesn't just relate to Revis. People talk about trying to trade for Fitz out of AZ or the Pats trading or cutting Mankins or ... And nobody looks at the dead money on these players contracts. It is a huge part of any consideration Fitzgerald would cost an 18M dead money hit for AZ, Mankins is 12M for the Pats, etc. etc.

     
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    Re: Revis trade and Jets cap hit

    The key saliant point is that Revis is darn near untradable because he'll be a headache no matter where he goes.

     
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    Re: Revis trade and Jets cap hit

    and now for the facts.

    Revis signed a contract as follows;

    2010: $7.5 million base salary, no signing bonus
    2011: $18 million option bonus (due on the first day of the first league year after 2010, accounting for the chance of a lockout), $7 million base salary
    2012: $7.5 million base salary (guaranteed for injury)
    2013: $6 million base salary (guaranteed for skill)

    In the first 2 years, Revis realized $32.5 making him the highest paid CB in football.

    Revis was paid in 2013 $7.5m because his season was guaranteed for injury

    Revis salary for 2013 is $6m. If Revis does not hold out, his contract for 2014, 15, 16 voids, making him a free agent.

    The Jets owe Revis $6m, there is no dead money. The Jets cannot trade Revis until the official start of the 2013 season (March 12th I believe)

    The Jets can trade Revis and have zero financial obligation to him. The Jets can let Revis play out the year, pay him his $6m, and let him walk away in free agency, getting nothing in return.

    The issue with Revis is resigning him. There is no dead money.

    When the dust settles, either with the Jets or another team, the media will announce that Revis has signed a contract for $100 million dollars, of which he will realize maybe $50-$60 million of it.

     
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    Re: Revis trade and Jets cap hit

    In some sense the Jets won't incur any dead money from trading Revis because they will incur it anyways when he walks after the season (since the option bonus he was paid is prorated through 2016 despite the fact he can void his contract after this season).  Tannenbaum is a genius.  LMFAO.

     
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    Re: Revis trade and Jets cap hit

    Yet another thread about the New York Jets on the NE patriots football forum!!???

    It's like being in the redsox forum with all the threads about the Mighty New York Yankees.

     I get a strong sense of Napoleanic Syndrome going on in here...again.Poor poor beantown..always a bridesmaid and never a bride.

    Obsess much?

     So how are ya today my horribly accented neighbors from the North?!

     
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    Re: Revis trade and Jets cap hit

    In response to RidingWithTheKing's comment:

    There is dead money, RKrap. Lying won't change that.

     

    Sunday notes: Could Revis stay, Cro go? January, 27, 2013 Jan 27 5:00 AM ET By Rich Cimini | ESPNNewYork.com

    A quick take on the Jets (the Revis edition) and the rest of the NFL:

    1. Revis or Cro?: Instead of shopping Darrelle Revis, maybe the Jets should put fellow CB Antonio Cromartie on the trading block. Don't laugh, it's not such a far-fetched idea. There's a small segment of the organization that would rather trade Cromartie than Revis, according to a source.

    Let's think about this for a second: Cromartie's trade value never will be higher; he's coming off arguably his best year. A Cromartie trade would clear $8.2 million in cap room (only $2.5 million in dead money); a Revis trade would actually cost the Jets cap room ($12 million in dead money, as opposed to his current cap charge of $9 million).




    this is erroneous. the $18m was paid already as it was due the first day of that new year. That is why Revis with a $16.5 2 year AAV was "the highest paid CB" over Namdi...the bonus was not ammortized over the length of the contract.

    The balance of the contract voids after this year if Revis does not hold out

     
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    Re: Revis trade and Jets cap hit

    King-Tsk tsk tsk-Your jealousy is raging from your written words. I get it. You see there are two types of Americans. You are either from NYC or from everywhere else. Welcome to from everywhere else!

    If you don't like NYC then sadly you'll just never get NYC.

    New York New York- Sounds so nice they named it twice!

     So do you want Spygate,players going to jail and making drunken fools of themselves in public,Brady strafing the pats for 27 million or do you want to stick with the Jets my obsessed NY Jets fan??

    hey king- repeat after me-J-E-T-S Jets Jets

     
  20. You have chosen to ignore posts from pcmIV. Show pcmIV's posts

    Re: Revis trade and Jets cap hit

    In response to rkarp's comment:


    this is erroneous. the $18m was paid already as it was due the first day of that new year. That is why Revis with a $16.5 2 year AAV was "the highest paid CB" over Namdi...the bonus was not ammortized over the length of the contract.

     

    The balance of the contract voids after this year if Revis does not hold out




    Stop playing dumb.  Whether or not Revis has been paid the bonus is immaterial to what the cap hit is.  Do you really think the Jets incurred all 18.5 million as a cap hit in one year?  They paid it all up front, but they added the extra voidable years on the contract so that they could spread out the cap hit over those years. Those cap hits persist if he leaves and are compressed into one season once he goes.  Christ even the guy from nyjetscap.com who you cite all the time knows this:

     

    http://overthecap.com/looking-at-the-contract-of-darrelle-revis/

    You are wrong.  Just admit it.

     
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  23. You have chosen to ignore posts from JRABBB. Show JRABBB's posts

    Re: Revis trade and Jets cap hit

    King-I believe that you started your post by name calling??What are you 12? Chi=Town- great place to visist but NYC is my home.

    Like I said before -You don't get NYC and sadly you never will.Bloomberg cleaned the place up along with Guiliani,expensive,yes,no denying that but when it's the number one tourist attraction on the planet that comes with the territory.

    You say it's hard to get around? Get a map.The Avenues run North and South and the streets go east to west. Even a simpleton like yourself could figure it out.

    Now do you want to keep up with the Geography lesson or do you want to keep talking about the Jets in the NE patriots forum?

    I had a few subjects in my last post that I would like to discuss about the pats...too embarrssed to address I guess??

     
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