Jets have till March 15 to move Revis

[flgreen]

Is Tebow the next to go? Revis?

February, 20, 2013
Feb 20

11:55

AM ET

By Rich Cimini | ESPNNewYork.com


Tuesday's salary-cap purge, which created nearly $31 million in cap relief, became national news, with some pundits portraying the four veteran cuts as new GM John Idzik taking the Jets in a new direction. That's kinda sorta true, but also know this:

These moves were set in stone as far back as late last fall, when it became apparent the Jets weren't going anywhere in 2012. If Mike Tannenbaum had kept his job, he would've made the exact same moves. These were organizational cap cuts, not one guy deciding on a whim. No one was blindsided here, not the players, not even the media, which had been reporting for several weeks that Bart Scott, Calvin Pace, Eric Smith and Jason Smith would be released.

[+] Enlarge
Tom Szczerbowski/Getty ImagesTim Tebow's time with the Jets is drawing to a close.
Now the question is, what's next? The Jets are approximately $5.7 million under the cap (that number is fluctuating because the cap amount hasn't been set), and they will create more room before the start of the league year on March 12.

Idzik has moved past the no-brainer stage of his offseason. Up next on his agenda:

1. He will make a decision on backup QB Tim Tebow ($2.6 million base salary). The Jets will try to shop him at this week's scouting combine. The first day they can trade him is March 12, so they might keep him until then with the hope that they can swing a deal. Chances are, no one will bite, so they'll end up releasing him.

2. He has to resolve the Darrelle Revis saga. The star cornerback is due a $1 million roster bonus on March 15, so you'd think they'd make a move before then. The Jets have three primary options: Let him play out his deal in 2013, extend his contract for mega-money or trade him. This will be one of the hottest stories at the combine.

3. Idzik will approach a few players about restructuring their contracts. The most likely candidates are LB David Harris (team-high $13 million cap charge), WR Santonio Holmes ($12.5 million), CB Antonio Cromartie ($10.8 million), LT D'Brickashaw Ferguson ($10.7 million) and NT Sione Po'uha ($6.2 million).

QB Mark Sanchez ($12.9 million) could be a candidate, but it doesn't make sense to push his money into future years, considering his tenuous position on the team. They can make a relatively clean break from him after 2013 if they keep his contract as is. There's a downside to restructuring. It's the credit card approach; you save now, but pay later. The Jets should try to avoid that as much as possible.

4. Idzik will address his own free agents, ramping up talks with agents this week in Indianapolis. The Jets have 12 unrestricted free agents, including eight starters. They appear to be most interested in retaining DT Mike DeVito, TE Dustin Keller and perhaps S LaRon Landry, depending on his price. They also have to make a decision on two key restricted free agents, RT Austin Howard and TE Jeff Cumberland. They have to decide which tender to give Howard -- first-round ($2.9 million) or second-round ($2 million).

[#27TheDominator]

Is Tebow the next to go? Revis?

February, 20, 2013

Feb 20

11:55

AM ET

By Rich Cimini | ESPNNewYork.com

 

QB Mark Sanchez ($12.9 million) could be a candidate, but it doesn't make sense to push his money into future years, considering his tenuous position on the team. They can make a relatively clean break from him after 2013 if they keep his contract as is. There's a downside to restructuring. It's the credit card approach; you save now, but pay later. The Jets should try to avoid that as much as possible.

 

I constantly see this "credit card" approach as if it would be horrible to pay Sanchez any money past this year.  I think it's ridiculous.  It is worthwhile to move money to the year's when you have a great deal of cap space.  Especially if the cap is going up. I don't think the Jets should "avoid that as much as possible".  I think they should use it as a tool where it can help the team in the long run.  I don't want to move the Sanchez money to give another $2M to Eric Smith another year, but where they can find value and need the money I don't see the big deal in pushing some money off where they have open cap space.  They have to consider who/what they will be able to do with that money in 2014 and make an educated decision.

[HessStation]

I can't believe David Harris and Holmes make 13M. That is just absolutely ridiculous.

[SayNoToDMC]

It would be nice if Santonio and Marks agents got inducted into the Hall of Fame in the same year

[bitonti]

I constantly see this "credit card" approach as if it would be horrible to pay Sanchez any money past this year.  I think it's ridiculous.  It is worthwhile to move money to the year's when you have a great deal of cap space. 

 

it's not just moving his money around. It's giving him more money i.e. a raise.

 

That raise might  come in a hundred different forms but no player would restructure guaranteed money just for fun.  The union wouldn't even allow it. 

[Joe Jets fan]

Holmes is not going to do a thing.  He might not play this year and the Jets are going to have to pay him a huge amount.

 

This is the worst signing Tanny made, worse then Sanchez.  IMO

[SenorGato]

Why won't Holmes play this year?

[#27TheDominator]

it's not just moving his money around. It's giving him more money i.e. a raise.

 

That raise might  come in a hundred different forms but no player would restructure guaranteed money just for fun.  The union wouldn't even allow it. 

 

 

I think there was a rather simple article about this within the past week.   Why wouldn't he?  He'd have to just be a dick?  As I recall, all they have to do is convert some salary to bonus.  The bonus gets prorated.  The player gets the same money, actually is paid a portion of it earlier and some of the money (the prorated bonus) gets pushed to later year(s). 

[bitonti]

I think there was a rather simple article about this within the past week.   Why wouldn't he?  He'd have to just be a dick?  As I recall, all they have to do is convert some salary to bonus.  The bonus gets prorated.  The player gets the same money, actually is paid a portion of it earlier and some of the money (the prorated bonus) gets pushed to later year(s). 

 

ok but why would he do this? Cause he feels bad?  Gholston actually gave money back towards the end but it's pretty rare for a player to put the team's interest before his own. 

 

 

by the way the original thread title talks about Revis and March 15. Even the trade Revis crowd should be able to realize this is selling him at a low to move him now. No one's seen him run or cut. He can't really pass a physical right now. The 1 mil bonus means the jets are up against a clock and everyne knows it. They would get fleeced in any deal.

 

If you want to move Revis the time to do it is in the season, when everyone sees he's back, teams are aware that they are SB contenders (or not) and even the Jets can decide whether 2013 is really a lost year. Trading him now is like selling your stock the day after a crash. 

[faba]

You want to get money in a bonus up front -get the most money you can now since you lose any money if and when you are cut or let go with your contract

[#27TheDominator]

ok but why would he do this? Cause he feels bad?  Gholston actually gave money back towards the end but it's pretty rare for a player to put the team's interest before his own. 

 

 

by the way the original thread title talks about Revis and March 15. Even the trade Revis crowd should be able to realize this is selling him at a low to move him now. No one's seen him run or cut. He can't really pass a physical right now. The 1 mil bonus means the jets are up against a clock and everyne knows it. They would get fleeced in any deal.

 

If you want to move Revis the time to do it is in the season, when everyone sees he's back, teams are aware that they are SB contenders (or not) and even the Jets can decide whether 2013 is really a lost year. Trading him now is like selling your stock the day after a crash. 

 

 

How the **** does it put the team's interests before his own?  He gets his money NOW.  Money now is better than money paid in 16 installments, no matter how you term it. It might make him easier to trade if he wants that and IT DOES NOT IN ANY WAY HARM HIM OR MAKE HIM EARN (or not earn) A PENNY LESS.  He'd have to be a complete douche not to take that deal and his agent would risk being blackballed for douchebaggery.

[whodeawhodat]

agree, time value of money my friend. Money now is worth more than money next month, next year, five years from now.

[bitonti]

How the **** does it put the team's interests before his own?  He gets his money NOW.  Money now is better than money paid in 16 installments, no matter how you term it. It might make him easier to trade if he wants that and IT DOES NOT IN ANY WAY HARM HIM OR MAKE HIM EARN (or not earn) A PENNY LESS.  He'd have to be a complete douche not to take that deal and his agent would risk being blackballed for douchebaggery.

 

it's not really better. it's the same. If my job offered me my salary up front i'd feel like i was working for free by December. 

 

and with interest rates at a historic low it really doesn't matter. what he's gonna earn < 1% in a savings account? 

 

the difference between now and later isn't worth the time to go into the office to sign the contract. It's meh. 

[flgreen]

Why won't Holmes play this year?

Holmes has a rather severe injury for a WR.  He is scheduled for a second surgery, I believe in April.

 

In many cases of the Lisfranc injury there is never really a total healing, and the person is plagued by chronic pain.  Not saying that is what is going to happen with Holmes, but the frailty of the bones involved, and the stress put upon them by playing football, it is very possible he won’t be playing this year 

[T0mShane]

It would be nice if Santonio and Marks agents got inducted into the Hall of Fame in the same year

lolilolol

[#27TheDominator]

it's not really better. it's the same. If my job offered me my salary up front i'd feel like i was working for free by December. 

 

and with interest rates at a historic low it really doesn't matter. what he's gonna earn < 1% in a savings account? 

 

the difference between now and later isn't worth the time to go into the office to sign the contract. It's meh. 

 

1.  Why wouldn't he?

2.  Even assuming 1%, 1% of $8.5M is still actual money.

3.  He has every reason to want the team to succeed NOW by having more money to spend while he is still here and not later when he is cut. 

4.  What is he, a dick?  Players do this constantly.  

[SMC]

Cimini writes a decent article but his point about Revis is dumb.  The $1 million bonus is nothing.  The Jets could pay that and still trade him or extend him thereafter.  That won't stop him.

 

If it was something like $5 mil then it would be something to consider.

[BurnleyJet]

Cimini writes a decent article but his point about Revis is dumb. The $1 million bonus is nothing. The Jets could pay that and still trade him or extend him thereafter. That won't stop him.

If it was something like $5 mil then it would be something to consider.

Agree, Tewbows going to make 2.6m this year and he's gone either cut or Trade. So a Mill for the Best CB in the NFL not a problem.

[BroadwayJoe12]

it's not really better. it's the same. If my job offered me my salary up front i'd feel like i was working for free by December. 

 

and with interest rates at a historic low it really doesn't matter. what he's gonna earn < 1% in a savings account? 

 

the difference between now and later isn't worth the time to go into the office to sign the contract. It's meh. 

 

 

Assuming you don't lose any money on getting taxed on a lump sum compared to over installments, money now is always better than money spread out. Always (unless you're eddie murhpy's ex wife).  When factoring in have your money make money for you and inflation, it's always best to get your money now as you can never make up lost time investing.

[JetsFanInDenver]

If the JETS can find a trade for Tebow I would start believing in miracles!

[JetsFanInDenver]

It would be nice if Santonio and Marks agents got inducted into the Hall of Fame in the same year

 

Meh....

 

They only outsmarted Tanny!

[slats]

How the **** does it put the team's interests before his own? He gets his money NOW. Money now is better than money paid in 16 installments, no matter how you term it. It might make him easier to trade if he wants that and IT DOES NOT IN ANY WAY HARM HIM OR MAKE HIM EARN (or not earn) A PENNY LESS. He'd have to be a complete douche not to take that deal and his agent would risk being blackballed for douchebaggery.

I tried explaining this a month ago. Bit doesn't get it. Knowing that Bit likes to really dig in with his opinions, I've given up.

[bitonti]

I tried explaining this a month ago. Bit doesn't get it. Knowing that Bit likes to really dig in with his opinions, I've given up.

 

 

I put myself in the players shoes. If my job pays me 12,000 a year. And instead of give me 12 monthly payments of a 1000, they give it all up front. How is that any better? The time value of money is basically nothing because the interest rates are zero. 

[Sperm Edwards]

it's not really better. it's the same. If my job offered me my salary up front i'd feel like i was working for free by December. 

 

and with interest rates at a historic low it really doesn't matter. what he's gonna earn < 1% in a savings account? 

 

the difference between now and later isn't worth the time to go into the office to sign the contract. It's meh. 

 

Your job doesn't have NFL salary cap rules.  Money paid to you in 2013 is fully on the books for 2013 whether you take it in advance as a bonus or weekly/bi-weekly as paychecks.  There is no similarity.

 

I'm sure Mark sees himself as a team leader (this team or another team in the future).  Let's see him explain to the team how he wouldn't take some millions in advance of the season instead of later on over the course of the season, and how the team ended up with millions less in cap room this year for another player because it wasn't worth his time to go into the office to sign a contract.

 

Bit, it would never ever happen like that.

 

And for the record, I'm against it anyway.  I'm still for cutting him this year and being 100% free and clear of him after the season's over.  There is a 0% chance of the Jets winning a superbowl this year with so many actual or relative holes on the team and so little cap space to do anything about it.

[bitonti]

Your job doesn't have NFL salary cap rules.  Money paid to you in 2013 is fully on the books for 2013 whether you take it in advance as a bonus or weekly/bi-weekly as paychecks.  There is no similarity.

 

I'm sure Mark sees himself as a team leader (this team or another team in the future).  Let's see him explain to the team how he wouldn't take some millions in advance of the season instead of later on over the course of the season, and how the team ended up with millions less in cap room this year for another player because it wasn't worth his time to go into the office to sign a contract.

 

Bit, it would never ever happen like that.

 

And for the record, I'm against it anyway.  I'm still for cutting him this year and being 100% free and clear of him after the season's over.  There is a 0% chance of the Jets winning a superbowl this year with so many actual or relative holes on the team and so little cap space to do anything about it.

 

yes mark needs to be a team leader by making himself easier to cut or trade. Can anyone find a situation where this has happened before? where a player converted guarunteed salary to bonus without getting a raise? Im not talking about what's possible i'm talking about what will happen. Any agent worth their licence would want something out of the deal. Players don't make deals for no reason. Neither do teams. Everyone acts in their own economic interest. There is no advantage to the player to get his money up front. It's just a different delivery method.

 

The only reason Mark would make this deal is if he wanted to leave NY. In which case his "team leadership" is not relevant. 

[Sperm Edwards]

yes mark needs to be a team leader by making himself easier to cut or trade. Can anyone find a situation where this has happened before? where a player converted guarunteed salary to bonus without getting a raise? Im not talking about what's possible i'm talking about what will happen. Any agent worth their licence would want something out of the deal. Players don't make deals for no reason. Neither do teams. Everyone acts in their own economic interest. There is no advantage to the player to get his money up front. It's just a different delivery method.

 

The only reason Mark would make this deal is if he wanted to leave NY. In which case his "team leadership" is not relevant. 

 

Don't agree with any of this.  In no small part because doing this doesn't even mean he gets traded.  If you can find an instance of a player refusing to take money in advance to help the team clear cap room - with no pay cut - then I'll stand corrected.  But the onus is on you, since you're the one saying he wouldn't do that.  Not to mention your analogy to your own finances is kind of silly and irrelevant.

[flgreen]

I put myself in the players shoes. If my job pays me 12,000 a year. And instead of give me 12 monthly payments of a 1000, they give it all up front. How is that any better? The time value of money is basically nothing because the interest rates are zero. 

Your correct.  Getting $12,000 a year up front, when you have to live on it, isn’t much money in interest.

 

$12,000,000 up front is a different situation.  Even if you live like a Duke, and spend $2,000,000, you still have $10,000,000 to invest.  Your not putting that money in a savings account, if you are smart, your investing it.

 

If you have good advisors the investment return on $10,000,000 is significant.  Always take the money up front

[#27TheDominator]

yes mark needs to be a team leader by making himself easier to cut or trade. Can anyone find a situation where this has happened before? where a player converted guarunteed salary to bonus without getting a raise? Im not talking about what's possible i'm talking about what will happen. Any agent worth their licence would want something out of the deal. Players don't make deals for no reason. Neither do teams. Everyone acts in their own economic interest. There is no advantage to the player to get his money up front. It's just a different delivery method.

 

The only reason Mark would make this deal is if he wanted to leave NY. In which case his "team leadership" is not relevant. 

 

It happens so ******* often they don't even report on it now.  IIRC, off the top of my head, Scott did it before he even played a game with the team.  Jonathan Stewart did it recently. Julius Peppers did it barely into that big deal with the Bears, I remember reading about it when we were interviewing Angelo for the GM job.  It is routine.

 

PS:  The interest rates are not 0 and getting money now is always better, unless you are a crackhead. 

[jack48]

ok but why would he do this? Cause he feels bad?  Gholston actually gave money back towards the end but it's pretty rare for a player to put the team's interest before his own. 

 

 

by the way the original thread title talks about Revis and March 15. Even the trade Revis crowd should be able to realize this is selling him at a low to move him now. No one's seen him run or cut. He can't really pass a physical right now. The 1 mil bonus means the jets are up against a clock and everyne knows it. They would get fleeced in any deal.

 

If you want to move Revis the time to do it is in the season, when everyone sees he's back, teams are aware that they are SB contenders (or not) and even the Jets can decide whether 2013 is really a lost year. Trading him now is like selling your stock the day after a crash. 

Well, if he had a conscience he might.  But these players think nothing of taking the money.  He has essentially been grossly overpaid for his contributions the last two years.  But why am I even bothering to mention things like conscience in relation to a football team?

[jack48]

1.  Why wouldn't he?

2.  Even assuming 1%, 1% of $8.5M is still actual money.

3.  He has every reason to want the team to succeed NOW by having more money to spend while he is still here and not later when he is cut. 

4.  What is he, a dick?  Players do this constantly.  

I doubt these guys put their money in savings accounts.  More likely corporate bonds and the market.  Having the money now could be a good deal, if the dollar continues to tank in the coming years---which it probably will.

[bitonti]

It happens so ******* often they don't even report on it now.  IIRC, off the top of my head, Scott did it before he even played a game with the team.  Jonathan Stewart did it recently. Julius Peppers did it barely into that big deal with the Bears,

 

so these players took money that they already had coming to them up front and didn't take any raise at all? Not even a little raise in the bonus? Why? 

 

we talk in the Revis thread about what a player will or will not do... and it's assumed that revis will eventually hold out again... there's nothing in Mark Sanchez' history that leads us to believe he will do anything for the team for free. 

[bitonti]

Your correct.  Getting $12,000 a year up front, when you have to live on it, isn’t much money in interest.

 

$12,000,000 up front is a different situation.  Even if you live like a Duke, and spend $2,000,000, you still have $10,000,000 to invest.  Your not putting that money in a savings account, if you are smart, your investing it.

 

If you have good advisors the investment return on $10,000,000 is significant.  Always take the money up front

 

like a Duke eh... 

 

[#27TheDominator]

so these players took money that they already had coming to them up front and didn't take any raise at all? Not even a little raise in the bonus? Why? 

 

we talk in the Revis thread about what a player will or will not do... and it's assumed that revis will eventually hold out again... there's nothing in Mark Sanchez' history that leads us to believe he will do anything for the team for free. 

 

We have told you why about 90 times in this thread alone.  You are unable to provide one valid reason why they wouldn't.  As Jack said, these guys are not putting their money into interest bearing checking accounts - properly invested a few million dollars can bring back some serious change. 

[bitonti]

We have told you why about 90 times in this thread alone.  You are unable to provide one valid reason why they wouldn't.  As Jack said, these guys are not putting their money into interest bearing checking accounts - properly invested a few million dollars can bring back some serious change. 

 

or you can lose it all. Financial advisors charge a fee for management, commissions, fees, taxes, it's possible that the investment gains don't exceed the cost of doing business. Yes if it's smartly invested you can beat the market if it's dumbly invested you end up with nothing. It's all theoretically.

 

BL I can't say why they wouldn't you can't say why they would. it seems like a wash at best. and I think we all agree it's not gonna happen. We can argue about it all day in theory but in practice when has Mark done anything for the jets for free?

[Maxman]

I can't believe David Harris and Holmes make 13M. That is just absolutely ridiculous.

 

It is criminal.