David Harris Posted September 12, 2015 Share Posted September 12, 2015 ✔ @FieldYates Source: the Jets have converted $1.78M of K Nick Folk's $2.5M base salary into a signing bonus, creating $1,186,667 in cap space for 2015. -------------------- This has to be for Mo, right?? Link to comment Share on other sites More sharing options...
southparkcpa Posted September 12, 2015 Share Posted September 12, 2015 Hmm... Wonder what's up their sleeve? Doesn't seem enough to make a difference for Mo. Link to comment Share on other sites More sharing options...
NYs Stepchild Posted September 12, 2015 Share Posted September 12, 2015 Hmm... Wonder what's up their sleeve? Doesn't seem enough to make a difference for Mo. They don't need cap room this year to sign Mo. In fact they could clear some up by signing him long term. They would however need some to sign Kendrick, and/or trade for a TE. Link to comment Share on other sites More sharing options...
Spoot-Face Posted September 12, 2015 Share Posted September 12, 2015 Hmmmm. Interesting. Link to comment Share on other sites More sharing options...
TnT Posted September 12, 2015 Share Posted September 12, 2015 Puts Folks cap number at over 3 mil the next 2 yrs Link to comment Share on other sites More sharing options...
Fibonacci Posted September 12, 2015 Share Posted September 12, 2015 It must be for a tight end but we will see/. Link to comment Share on other sites More sharing options...
kelly Posted September 12, 2015 Share Posted September 12, 2015 The Jets have restructured kicker Nick Folk's contract to create salary cap space. Folk's base salary was set to be $2.65 million in 2015. The Jets converted $1.78 million of that into a signing bonus. The move created $1,186,667 in salary cap space for the Jets in 2015. (More below on exactly how this happened.)The Jets really aren't paying Folk any more or any less. They're just moving money around for cap purposes. The restructuring was first reported by ESPN's Field Yates.Folk signed a four-year, $12 million contract before last season. The only guaranteed money in the deal was a $2.1 million roster bonus, which only counted on the Jets' 2014 cap. So Folk's cap hits for 2015-17 were just going to be his base salaries.Folk has three years left on his contract: 2015-17. His signing bonus, for cap purposes, will be spread out over those three years — $593,333 each year.So the downside to the Jets creating cap space this year is that Folk now has that $593,333 cap hit attached to him — regardless of if he's on the team or not — for the next two seasons. (But the NFL's salary cap is projected to increase considerably, once again, this offseason.) Folk's base salary for 2015 is now $870,000. Throw in his pro-rated signing bonus amount of $593,333 this season, and his cap hit will be $1,463,333, rather than the previously scheduled $2.65 million.That's how you get the $1,186,667 in cap savings.The Jets needed the cap space. Even after reworking Folk's deal, they have just $2,172,134 in cap space, according to overthecap.com. Only the Lions, Patriots, Seahawks, and Saints have less space.Reworking Folk's deal gives the Jets some cap wiggle room in case they need to sign a replacement player, if they're hit with a serious injury. For Folk's purposes, his cap hits the next two years were going to be $2.75 million and $3 million — his base salaries. Now, you have to throw his pro-rated signing bonus money on top of those numbersFolk, 30, is entering his sixth season as the Jets' kicker. He has made 81.3 percent of his field goals during his time with them, including 82.1 percent last season and a career-best 91.7 percent in 2013. Here's the updated look at Folk's contract : 2015 Base salary: $870,000 Prorated bonus: $593,333 Cap hit: $1,463,333 2016 Base salary: $2.75 million Prorated bonus: $593,333 Cap hit: $3,343,333 Dead money if cut/traded: $1,186,667 (remaining prorated bonus) 2017 Base salary: $3 million Prorated bonus: $593,334 Cap hit: $3,593,334 Dead money if cut/traded: $593,334 (remaining prorated bonus) > http://www.nj.com/jets/index.ssf/2015/09/jets_restructure_kicker_nick_folks_contract_to_cre.html#incart_river Link to comment Share on other sites More sharing options...
slgrayson1 Posted September 12, 2015 Share Posted September 12, 2015 Can the save any more cap by cutting Smith and resigning Flynn or Johnson yo take his #3 QB spot? Link to comment Share on other sites More sharing options...
Jetlife33 Posted September 12, 2015 Share Posted September 12, 2015 Well this is interesting. Link to comment Share on other sites More sharing options...
jett Posted September 12, 2015 Share Posted September 12, 2015 Before I get flamed for this comment understand I realize we needed to spend money for a few reasons, obviously to have a more competitive team but also the rule that states we need to spend 89 percent to our cap over 4 years and the fact that 50 million is too much to have not spent. I still wish we didn't spend practically all of it. I get that the contracts dished out were mostly front loaded so that we could easily get back under by a lot by trimming the fat, D Brick also will get the ax which will save a ton of money unless he restructures. Still, don't like the idea of giving out huge contracts. Link to comment Share on other sites More sharing options...
jdeacon Posted September 12, 2015 Share Posted September 12, 2015 This is a prelude to signing someone significant. Maybe Mo Maybe the Chancelor himself or were just trimming the fat and being responsible. who knows? Link to comment Share on other sites More sharing options...
slats Posted September 12, 2015 Share Posted September 12, 2015 Can the save any more cap by cutting Smith and resigning Flynn or Johnson yo take his #3 QB spot? The question is moot. Before I get flamed for this comment understand I realize we needed to spend money for a few reasons, obviously to have a more competitive team but also the rule that states we need to spend 89 percent to our cap over 4 years and the fact that 50 million is too much to have not spent. I still wish we didn't spend practically all of it. I get that the contracts dished out were mostly front loaded so that we could easily get back under by a lot by trimming the fat, D Brick also will get the ax which will save a ton of money unless he restructures. Still, don't like the idea of giving out huge contracts. Despite all the money doled out, according to OTC (http://overthecap.com/salary-cap/new-york-jets) the team still has $13M in cap space this year. Like you said, the majority of the deals they did sign are pretty painless to get out of. They're in good shape. Link to comment Share on other sites More sharing options...
joewilly12 Posted September 12, 2015 Share Posted September 12, 2015 Next up should be David Harris we overpaid him. Link to comment Share on other sites More sharing options...
thshadow Posted September 12, 2015 Share Posted September 12, 2015 Despite all the money doled out, according to OTC (http://overthecap.com/salary-cap/new-york-jets) the team still has $13M in cap space this year. Like you said, the majority of the deals they did sign are pretty painless to get out of. They're in good shape. I'm confused. You say we have $13M. The article said after the restructure we only have $2,172,134 in space. OTC says: Total Cap Number: $153,415,660 (Top 51: $140,376,716) and Google says the 2015 NFL salary cap is $143.28 million ??? Where did you get $13M from? Link to comment Share on other sites More sharing options...
Larz Posted September 12, 2015 Share Posted September 12, 2015 .The Jets needed the cap space. Even after reworking Folk's deal, they have just $2,172,134 in cap space, according to overthecap.com. Only the Lions, Patriots, Seahawks, and Saints have less space.Reworking Folk's deal gives the Jets some cap wiggle room in case they need to sign a replacement player, if they're hit with a serious injury. just house cleaning Link to comment Share on other sites More sharing options...
Jetdawgg Posted September 12, 2015 Share Posted September 12, 2015 I'm confused. You say we have $13M. The article said after the restructure we only have $2,172,134 in space. OTC says: Total Cap Number: $153,415,660 (Top 51: $140,376,716) and Google says the 2015 NFL salary cap is $143.28 million ??? Where did you get $13M from? Common Core Math Link to comment Share on other sites More sharing options...
slats Posted September 12, 2015 Share Posted September 12, 2015 I'm confused. You say we have $13M. The article said after the restructure we only have $2,172,134 in space. OTC says: Total Cap Number: $153,415,660 (Top 51: $140,376,716) and Google says the 2015 NFL salary cap is $143.28 million ??? Where did you get $13M from? Hmmm... One thing I think I missed is the nearly $4M they have in dead money, but I think that still puts them in the $9M range in cap room right now. The $153M is the team's maximum cap (larger than most teams due to carry over from the Idzik years), subtract the $140M for the top 51 and the $4M in dead money = @ $9M in space. I have no problem with anyone explaining why I'm reading that wrong, lol, but that's the way it looks to me. Link to comment Share on other sites More sharing options...
Jet9 Posted September 12, 2015 Share Posted September 12, 2015 Next up should be David Harris we overpaid him. This year's paycheck is happening. He's guaranteed $7mil next year. We have to spend close to cap. BFD. Link to comment Share on other sites More sharing options...
neckdemon Posted September 12, 2015 Share Posted September 12, 2015 This is a prelude to signing someone significant. Maybe Mo Maybe the Chancelor himself or were just trimming the fat and being responsible. who knows? kam chancellor would be awesome but i doubt it happens Link to comment Share on other sites More sharing options...
pointman Posted September 12, 2015 Share Posted September 12, 2015 This is a prelude to signing someone significant. Maybe Mo Maybe the Chancelor himself or were just trimming the fat and being responsible. who knows? If its Kam I will pledge allegiance to Mike Mac forever. Even if he sucks more than Idzik. Link to comment Share on other sites More sharing options...
Mike135 Posted September 12, 2015 Share Posted September 12, 2015 Raise for Geno? Link to comment Share on other sites More sharing options...
BroadwayJets Posted September 12, 2015 Share Posted September 12, 2015 Hmmm... One thing I think I missed is the nearly $4M they have in dead money, but I think that still puts them in the $9M range in cap room right now. The $153M is the team's maximum cap (larger than most teams due to carry over from the Idzik years), subtract the $140M for the top 51 and the $4M in dead money = @ $9M in space. I have no problem with anyone explaining why I'm reading that wrong, lol, but that's the way it looks to me. I don't know where it's coming from either, but he says this, and it's unlikely he's wrong. But his website doesn't say that. Maybe PS guys' contracts? We gave Flynn a signing bonus, not sure how much. Jason_OTC @Jason_OTC 8h8 hours ago Jason_OTC retweeted Field Yates They had to do something. Were under $1M in cap room Jason_OTC added, Field Yates @FieldYatesSource: the Jets have converted $1.78M of K Nick Folk's $2.5M base salary into a signing bonus, creating $1,186,667 in cap space for 2015. RETWEETS5 FAVORITES4 9:04 AM - 12 Sep 2015 · Details Link to comment Share on other sites More sharing options...
j4jets Posted September 12, 2015 Share Posted September 12, 2015 ✔ @FieldYates Source: the Jets have converted $1.78M of K Nick Folk's $2.5M base salary into a signing bonus, creating $1,186,667 in cap space for 2015. -------------------- This has to be for Mo, right?? not really. They could structure Mo where the current year cap hit would actually be less than his current hit. So, not necessarily b Link to comment Share on other sites More sharing options...
slats Posted September 12, 2015 Share Posted September 12, 2015 I don't know where it's coming from either, but he says this, and it's unlikely he's wrong. But his website doesn't say that. Maybe PS guys' contracts? We gave Flynn a signing bonus, not sure how much. Jason_OTC @Jason_OTC 8h8 hours ago Jason_OTC retweeted Field Yates They had to do something. Were under $1M in cap room Jason_OTC added, Field Yates @FieldYatesSource: the Jets have converted $1.78M of K Nick Folk's $2.5M base salary into a signing bonus, creating $1,186,667 in cap space for 2015. RETWEETS5 FAVORITES4 9:04 AM - 12 Sep 2015 · Details I'll take Jason at his tweet, but that's not how I interpret his site. :/ Link to comment Share on other sites More sharing options...
BroadwayJets Posted September 12, 2015 Share Posted September 12, 2015 I'll take Jason at his tweet, but that's not how I interpret his site. :/ I, too, am perplexed. Link to comment Share on other sites More sharing options...
Dcat Posted September 12, 2015 Share Posted September 12, 2015 Hmm... Wonder what's up their sleeve? Doesn't seem enough to make a difference for Mo. Any extension/new contract for Mo now would likely reduce the 2015 cap, not increase it due to spreading out the bonus. Link to comment Share on other sites More sharing options...
Dcat Posted September 12, 2015 Share Posted September 12, 2015 Raise for Geno? haha. The only Raise Geno deserves would be to raise his IQ a few points. Link to comment Share on other sites More sharing options...
Mike135 Posted September 12, 2015 Share Posted September 12, 2015 haha. The only Raise Geno deserves would be to raise his IQ a few points. Hey, it could work. "Why rewards are more effective than punishment--with children." https://www.psychologytoday.com/blog/family-affair/200809/rewards-are-better-punishment-here-s-why Link to comment Share on other sites More sharing options...
jack48 Posted September 12, 2015 Share Posted September 12, 2015 could be just freeing up money for emergency in season moves Link to comment Share on other sites More sharing options...
FTL Jet Fan Posted September 12, 2015 Share Posted September 12, 2015 Doesn't seem like it's for MO @JasonLaCanfora: Jets nowhere close with Mo Wilkerson. This situation likely to head into 2016. The very latest right here: http://t.co/FRO672qXli Link to comment Share on other sites More sharing options...
aec4 Posted September 13, 2015 Share Posted September 13, 2015 Common Core Math Or it could be that we had cap carryover from 2014 season? Link to comment Share on other sites More sharing options...
NYJetsVets91 Posted September 13, 2015 Share Posted September 13, 2015 Doesn't seem like it's for MO @JasonLaCanfora: Jets nowhere close with Mo Wilkerson. This situation likely to head into 2016. The very latest right here: http://t.co/FRO672qXli Wow, if this is true then the Jets have really been low balling Mo... "Then, within hours of Dareus's extension becoming official on Thursday, the Jets presented a new proposal that the source said was still less than half of what Dareus will receive in terms of total dollars and guaranteed money, and was not close to the $23 million in full guarantees at the time of signing that Jordan received this summer, either." Link to comment Share on other sites More sharing options...
artemusclyde Posted September 13, 2015 Share Posted September 13, 2015 Think Jets are planning on letting Mo walk. Link to comment Share on other sites More sharing options...
Dcat Posted September 13, 2015 Share Posted September 13, 2015 Think Jets are planning on letting Mo walk. I'm starting to think the same thing. But I am not necessarily going to assume that the conforta article is in any way even close to accurate either. Link to comment Share on other sites More sharing options...
FTL Jet Fan Posted September 13, 2015 Share Posted September 13, 2015 I hope they don't just let him walk! We better get something for him. Link to comment Share on other sites More sharing options...
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