The Packers Player and Salary Cap Tracker - Adrian Amos Restructure kicks it off

PACKERS' MOVES TO DATE:

Player Type Savings Space OTC/Ingalls Aggressive '22 Cap
NFL $180M $5M NA N/A - - -
Bakhtiari Restructure $8.304M N/A High $2.768M
Kirksey Release $5.6M = $4.949M N/A Medium - - -
Wagner Release $4.25M = $3.59M N/A Medium - - -
NFL  $182.5M   -$10.471/-$10.14M N/A - - -
Funchess Pay Cut $750K* -$9.721M/-$9.39M Medium - - -
Lovett Release $120K -$9.601M/-$9.27M Medium - - -
Amos Restructure $750K -$8.851M/-$8.52M Low +$750K
Smith, P. Restructure $7.25M -$1.601M/-$1.27M High +$3.25M
Turner Restructure TBA TBA TBA TBA
           
           
           

 

Bill Huber reports that the Packers have restructured the contract of Adrian Amos, converting his $1.5 million roster bonus to a signing bonus.  That decision generates cap savings of $750,000 in 2021 and increases his dead money and cap number by the same amount for 2022.

This is about the least they could do.  To call it low on the aggressiveness scale is an understatement.  It is something.  For those worrying that the Packers will not try to keep as many current players on the team as is reasonably possible, this is an inauspicious beginning.  The issue is what is prudent.  The Packers will have to find the right balance.

Overthecap had the Packers at $9.559M prior to this move.  Ken Ingalls had the Packers at a different figure, closer to my calculations.  You can see how Ken reached his numbers by clicking here

The Packers also released John Lovett.  His cap number was $780,000, so under the Rule of 51 a player with a $660K cap number replaces him amongst the top 51 players for a savings of $120K.  It may be that the Packers like Dafney better, anyway.  

The Packers reduced Preston's base from $6.85M to around $1.0M, gave him a $6.5M signing bonus, reduced his workout bonus and game active bonus from a combined $1.15M to $500K, and eliminated his $4M roster bonus. He does get $4.4M in unlikely to be earned sack incentives, but they start at 6, 8, 10, 12 and 14 sacks. His contract for 2022 is unaltered other than increasing his cap number from $16.5M to $19.75M.

So he can still earn over the $12M he was scheduled to earn, but he has to have a great year to do that. That's aggressive.

Update: *The Funchess pay cut is confusing: indeed, Overthecap and Spotrac still list his cap number at $2.518M and $2.365M, respectively.  I have adjusted OTC's to reflect Bill Huber's reporting that the Packers reduced his cap number by roughly $750K (Ken Ingalls wrote $747K without explanation).  It is not clear how that is possible.  The minimum for Funchess is $990K and he received a $1M signing bonus, $50K workout and $300K game active bonus.  Multiple sites indicated that his 2021 cap number would be $2.265M (Joel Cory indicated $2.215M).  I do not see how Funchess' cap number can be $1.465M to $1.515M after the pay cut unless he returned some of the signing bonus.   

NFL Categories: 
5 points

Comments (24)

Fan-Friendly This filter will hide comments which have ratio of 5 to 1 down-vote to up-vote.
CoachDino's picture

March 12, 2021 at 06:30 pm

If people believe that ARod is going to be good for the next 2 to 3 years then I think its prudent that they don't get crazy this year in pushing everything out. Losing CL and AJ will hurt but replacing Kevin King (Draft/FA) and getting Bak/Lane back has much greater value considering the after replacement impact.

Add a few bridge FA, hit on a few draft picks (maybe even lose some value by drafting a player that's ready to start over one with a higher ceiling through development and/or less of a reach).

Then next year, you have an even better idea on Arod and possibly some cap space to add some bigger name FA to help Arod or even more cap space if you trade him and really load up with the big time savings and draft picks so to best support your new lesser QB.

Focus on Defense/OL. Can you imagine the players you can sign in FA for 40Mil per year plus the picks. Love wouldn't need to be Arod as you just made the rest of your team so much better.

Arron Who? lol...

+ REPLY
1 points
3
2
Thegreatreynoldo's picture

March 12, 2021 at 06:44 pm

Coach, I reached the exact opposite conclusion after having decided that AR is going to be good for 2 to 3 more years!

AR can be great but he needs a team around him. If GB gets chintzy and conservative, the team will lose 6 to 10 players from the 2020 team, including two elite players. How the heck is that going to produce a super bowl win?

Jones, Linsley, King, Wagner, Kirksey, maybe Lewis, Lancaster, Greene, Redmond, Boyle and Tonyan are on the block. That's 2400 snaps for the RFAs and thousands more for the UFAs.

The Packers need to clear some money and lots of it.

+ REPLY
3 points
3
0
flackcatcher's picture

March 12, 2021 at 08:30 pm

Well, both could be true. The Packers could be firming up their roster for this season, and preparing via the draft for a massive roster sweep in 2023. The Packers have under Thompson, and now Gutekunst operated in 5-year cycles. This upcoming season would be the end of that latest cycle. But the Cap has thrown a hard curveball into the mix. If, IF salaries are flattened, and the 'real cap number' is far lower due to loss of TV revue. The results could be chaos, with the mass release of players due to the 'disappearance' of 30-60 million of club salary structure. It makes sense for Gutekunst to take a minimalist line, and protect his roster for this season. By 2023 the NFL, and NFLPA must come to an agreement on how they will deal with the new revue structure. Otherwise, how Gutekunst will sign his RFA's will be the least of his worries.

+ REPLY
0 points
0
0
PF4L's picture

March 13, 2021 at 10:53 am

"Arron Who?" lol...

Aaron Rodgers = 3x MVP, SB MVP, HOF, one of the best QB's the NFL has seen in over 100 years.

Jordan Love = 3rd string scout team QB.

That Arron?

+ REPLY
-1 points
1
2
PF4L's picture

March 13, 2021 at 06:19 am

"Then next year, you have an even better idea on Arod"

Better idea of what? His talent?
Whether his success has just been a fluke?

What exactly are you confused about?

+ REPLY
0 points
2
2
Thegreatreynoldo's picture

March 12, 2021 at 07:48 pm

The Packers restructured Preston Smith to clear $7.25M. It adds $3.25M in additional cap space to 2022.

The Packers reduced Preston's base from $6.85M to around $1.0M, gave him a $6.5M signing bonus, reduced his workout bonus and game active bonus from a combined $1.15M to $500K, and eliminated his $4M roster bonus. He does get $4.4M in unlikely to be earned sack incentives, but they start at 6, 8, 10, 12 and 14 sacks. His contract for 2022 is unaltered other than increasing his cap number from $16.5M to $19.75M.

So he can still earn over the $12M he was scheduled to earn, but he has to have a great year to do that. That's aggressive.

So in the Trackers, it would be
P. Smith; $7.25M, -$1.559M/-$3.985M; High aggressiveness; +$3.25M added 2022 cap.

+ REPLY
2 points
2
0
splitpea1's picture

March 12, 2021 at 07:51 pm

Did you notice the dramatic difference in production by Smith in odd versus even-numbered years during the course of his career? That, combined with a new DC, gives us hope that he may be able to reach those incentives.

+ REPLY
0 points
0
0
Guam's picture

March 13, 2021 at 08:17 am

Delighted that Preston Smith saw the dangers of free agency in this crazy cap year and gave the Packers a significant restructure in 2021 and didn't add a deal breaking amount in 2022. My only concern is that they are going to have to find a way to get Gary more snaps. He is just too productive to continue playing behind P. Smith.

Between restructuring P. Smith, Amos and Funchess, the Packers are very close to making the cap number of $182.5. I think at this point they are only about $1 million over. They will need at least $15 million more to sign their draft class, 52nd and 53rd players, practice squad players and a few of their RFAs (Tonyan, Sullivan, Greene), but by cutting only another $1 million they will make the cap for the start of the new business year. That buys them time to make the other $15 million in moves.

+ REPLY
3 points
3
0
Thegreatreynoldo's picture

March 13, 2021 at 08:35 am

I agree though I think GB is a little further away from meeting the salary cap limit than $1M.

Gute was not aggressive with Amos' contract.
Gute got a lot out of Preston's deal.

I was about to have a meltdown until I saw the numbers on Preston's deal. I suppose that is the proper way to go about one's business here: be aggressive with some players, do the minimum with others using proper discrimination (now there's a word that has fallen out of fashion for everyday use).

Still think Amos is so solid and is still young enough that he is a guy we could have added some years to his deal to really get some money in. Oh well, not entirely satisfied but the big work on Preston got done. Amos was never going to be more than a few million anyway.

+ REPLY
1 points
1
0
PF4L's picture

March 13, 2021 at 06:13 am

What happens if you can’t find a trade partner for Preston Smith?
.
In Green Bay, you keep the 12th pick of the 2019 draft on the bench 3 years in a row,

+ REPLY
-2 points
1
3
dobber's picture

March 13, 2021 at 11:28 am

In the end, we don't know Barry's plan for how to use these guys. Gary and Z both line up all over the defensive front. P Smith doesn't play with his hand on the ground very often. It could be that the answer to the Packers shifting to more of a Vic Fangio/Brandon Staley scheme which features a heavier front is to use all three of these guys at the same time more often.

Whatever the case, they've decided that Smith is more valuable to them at a reduced cost on the 2021 roster than incurring the dead cap and paying him to not play for the Packers in 2021. They essentially got a significant cap relief AND keep the player...and don't have to burn resources to fill his hole on the roster. Good teams stockpile players.

+ REPLY
6 points
6
0
PF4L's picture

March 15, 2021 at 08:09 am

Well dobber...according to PFF (grade-53.1), and my eye test, Preston wasn't very valuable....at all.

The Packers didn't decide to keep Preston, he was kept because the Packers couldn't find a trade partner and they didn't want to eat the 8 million in dead money.
.
So they cut him a check for 6.5 million in new signing bonus money to reduce this years cap number and push money ahead to 2022 where he is due 12.5 million.
.
I don't think it's out of the realm of possibility that now that they lowered Smith salary in 2021, it might be easier to sit him and start Gary full time. Just speculation of course.

So it looks like they'll cut him a year from now, BUT...they have to eat 7.25 million in dead money. 7.25 mill...is pretty close to 8 million, amirite?

As of today (right now), the Packers have paid Preston 33.5 million dollars for 16 sacks in 2 seasons (8 sacks a year average).
The word "VALUE" has no place when describing Preston Smith at this point.

+ REPLY
-1 points
0
1
Since'61's picture

March 13, 2021 at 10:12 am

If they can restructure Rodger's contract they can get in decent shape for the 2021 cap. I don't know how that would impact the 2022 and 2023 cap years.

As for Love becoming the #2, I see that as a way to give Love more snaps during the preseason and practice throughout the year. That should give the Packers a better idea about what they have or don't have in Love. If Rodgers has another good/great season in 2021, which I believe that he will, the Packers would be crazy to move on from Rodgers.

I'm betting on the fact that Rodgers is going to continue to do everything he can to prove that the Packers should have never drafted Love. I think Rodgers is looking at this scenario like this; first you draft Love and leave me with one legit NFL WR, maybe 2 with Tonyan. I still won the league MVP award. Now we're losing Jones. I'm going to go out and win another MVP anyway and keep Love on the bench for another season. I would love to see Rodgers play well enough to keep Love on the bench for his entire rookie contract, hopefully winning an SB or 2 along the way. Maybe even longer if the Packers extend Rodgers deal.

As I have posted before, we might be drafting late in the first and second rounds but even at that point in the draft there must be a WR available who would be better than MVS, Lazard and ESB. Draft that player, pair him with Adams and see what happens.
Thanks, Since '61

+ REPLY
0 points
2
2
dobber's picture

March 13, 2021 at 11:30 am

ARod is the team's reserve bank. I think they'll rework all the peripheral pieces (not a stretch to say, since they're already doing it) before they touch QB1s deal. It's been broadly speculated that he'll only redo his deal to be paid more, not to take less for the team. In the end, the Packers know--and ARod knows--that they need to go to #12 for help if they want to free up cap and make any significant moves this off-season. He can play the waiting game, and the Packers seem to be happy to do so, too.

+ REPLY
2 points
3
1
Thegreatreynoldo's picture

March 13, 2021 at 12:16 pm

GB has restructured Turner. Numbers not in yet. $1M roster and $4.52M base so $5.52M - $1.075M vet. min. means the team can convert between $1 dollar and about $4.5.

We'll see what number they choose. EDIT: those two extremes generate 50 cents and $2.25M or so in cap savings. Enough to get GB into compliance with the cap.

I have Ken's (Ingalls) running cap space too high. He has GB at -$1.2M or so at present.

+ REPLY
1 points
1
0
Since'61's picture

March 13, 2021 at 12:02 pm

Dobber - I agree completely. AR is and will definitely play the waiting game. Stay safe. Thanks, Since '61

+ REPLY
1 points
1
0
Thegreatreynoldo's picture

March 13, 2021 at 11:37 am

GB could convert up to $20M in cash on AR's contract to a signing bonus amortized over the remaining three years of his deal. They could do $10M. At $20M, the proration would be $6.7M in 2022, and again in 2023. So gain $20M - $6.7 = $13.34M more 2021 cap space.

That increases AR's cap charge by $6.7M in both 2022 and 2023 and his dead money by $13.34M. He'd be tradeable in 2022 since his cap # would be $46.5M (ouch!) and his dead would be almost $23.9M, so there would be a $22M cap savings on a trade or a release depending on the timing. His cap # for 2023 would be $35M.

If you believe AR is THE QB for the next 2 years, he does have a big fat $25M base salary next year. GB could convert up to $24M to a signing bonus to push his cap down to $34.5M, saving $12M in cap space. That would increase his 2023 cap number to $47M (ouch) and his dead money would be $21.5M. Big cap savings on a trade or release of $26M. But $47M would be a lot even two seasons down the road. Could add a 2024 year at age 41. It could be a void year just to dump cap in as dead money.

So, there are options but the team should be prudent with AR. They will have to tap into his deal for 2021, no question about it. It could be for a lot, a little for something in the middle. And Gute and Murphy know better how much the cap limit might spike beginning probably in 2023 and 2024. I don't know how the TV and the gambling is going to affect things. I'm not a gambler, but I hear awful things about how much the house can make on it.

+ REPLY
2 points
2
0
Since'61's picture

March 13, 2021 at 12:09 pm

TGR - thanks again for the great info and explanation. Is it possible for the Packers to stretch out Rodger's guaranteed money, maybe for 2 or 3 more years, thereby lowering the guaranteed money each year, but increase the annual incentives in his contract? Stay safe. Thanks, Since '61

+ REPLY
0 points
0
0
Thegreatreynoldo's picture

March 13, 2021 at 01:06 pm

Yes, with AR's agreement.

Howie Roseman in Philly did that with Wentz. He put in so many incentive possibilities (no less than 8 different possibilities that were all technically NLTBE) that it was thought Wentz surely would make the money. Not sure how that worked out but I think it was prior to Wentz's implosion and they found some incentives that were absurdly easy to meet.

Why would AR agree to less sure money in return for incentives? IDK.
A1) to help the team
A2) if there incentives added up to much more than the guaranteed money such that AR was betting on himself.

+ REPLY
1 points
1
0
Leatherhead's picture

March 13, 2021 at 04:08 pm

What if you believe AR is our QB for this year, but not necessarily next?

+ REPLY
0 points
0
0
Thegreatreynoldo's picture

March 13, 2021 at 01:11 pm

I find this amusing (and feel ashamed for thinking it amusing), but it is Ken Ingalls' observation, so I will use a link instead of spoiling it:'

https://twitter.com/KenIngalls/status/1370543280950218752

+ REPLY
0 points
0
0
flackcatcher's picture

March 13, 2021 at 09:06 pm

That Russ Ball is a beast, a beast I'll tell you.... :-0

+ REPLY
1 points
1
0
frankthefork's picture

March 14, 2021 at 12:53 pm

Sorry, but after 16 years of watching and waiting for Arod 12 to be a Tom Brady team player GOAT, I just don't see a pay cut, and can only hope for a restructure. Come 2022 or 2023, if a deal of (3) 1st round picks or more (ala Stafford, Wilson) for Mr. MVP was offered, the GM should take it. Stafford, Goff or better yet Eli Manning to me are just above average QB's, and Eli a SB MVP- Champ; bet there will be a few available if Love isn't worthy to start in 2022.
Restructure or extend AR12, otherwise this may be AR last year as a GBP.
Agree with Guam...just hate to see high draft picks sit on the pine 3 yrs when the talent is NFL starter already, like Gary. Get Love starter ready and draft his back up in this yrs 6th or 7th rd.! The age clock is ticking so is my patience. GPG

+ REPLY
2 points
2
0
HankScorpio's picture

March 14, 2021 at 04:34 pm

If you think the Funchess extension is confusing, how about the tweet I just read from Shefter.

"Saints are restructuring QB Taysom Hill’s contract to create cap room. Details are great: it’s a 4-year, $140 million contract extension - but all years are voidable and it’s a mechanism to free up cap space this year, per source. It saves Saints over $7.5M against cap this year."

First of all, $35 mil AAV for Taysom Hill? And it saves them $7.5 mil off the current $16 mil Spotrac has him at?

I hope and pray the Packers never find themselves in that much of a cap bind that they have to do something like that.

+ REPLY
1 points
1
0

Log in to comment and more!

Not a member yet? Join free.

If you have already commented on Cheesehead TV in the past, we've created an account for you. Just verify your email, set a password and you're golden.