LionelRichie Posted February 13, 2006 Share Posted February 13, 2006 Booze=Here you go http://moneycentral.msn.com/content/Retirementandwills/Escapetheratrace/P100986.asp Note under "taxes"- "Signing bonuses are paid in a lump sum" google huh? Link to comment Share on other sites More sharing options...
PatsFanTX Posted February 13, 2006 Share Posted February 13, 2006 Ok then who will be our qb? Dont even tell me Bollinger or Fiedler.I will vomit. Package Abe and/or a 2nd round pick and grab Matt Schaub from the Falcons. Use the #4 pick and take a franchise LT (DBrick). Cutler at #4 would just be as risky as Vince Young. Link to comment Share on other sites More sharing options...
SouthernJet Posted February 13, 2006 Share Posted February 13, 2006 Package Abe and/or a 2nd round pick and grab Matt Schaub from the Falcons. Use the #4 pick and take a franchise LT (DBrick). Cutler at #4 would just be as risky as Vince Young. schaub or rivers would be fine,,, Link to comment Share on other sites More sharing options...
mudcat21 Posted February 13, 2006 Share Posted February 13, 2006 On this contract payout discussion, Fo and Dierking are absolutely correct and Boozer is wrong. A player gets his signing bonus upfront all at once at signing. For cap purposes the bonus is amortized over the term of the contract. Actual payout and cap hits are two completely different animals. That is why the Jets paid out the most in salaries a couple of years ago directly due to signing bonuses given. Link to comment Share on other sites More sharing options...
Boozer76 Posted February 13, 2006 Share Posted February 13, 2006 Booze-Your link told us how it prorates for purposes of the CAP. That is an accounting structure. The player gets the bonus when he signs teh deal, unless there are roster bonuses or incentives, etc. Players are NOT going to wait to get their guaranteed money. Their money loses value over that time. You are confusing accounting and real world. OK, here you go again: http://seattlepi.nwsource.com/football/164005_hawk10.html That would be the one for $8 million, the signing bonus attached to Jackson's six-year, $25 million contract. Alas, Jackson and his mother will have to wait. The check will be in the mail, but for a portion of the sum, as the Seahawks' policy is to spread signing bonus payouts over the length of the contract. http://www.nfl.com/news/story/7167454 Tampa Bay parted ways with safety John Lynch for salary-cap reasons and not because he couldn't play anymore. The cap savings to the Bucs is not the $4.1 million in salary scheduled for '04, but $2.24 million. Before Tampa Bay could clear the books of the Lynch contract, they had to pay off the remaining signing-bonus charges that were scheduled for 2005. Still, the face of the Tampa Bay football team is changing and it's time to move on. http://en.wikipedia.org/wiki/Salary_cap#Salary_cap_in_the_NFL For example, if a player signs a six-year contract and is paid a signing bonus, only one sixth of the bonus counts towards the salary cap in the first season, with the remaining five sixths divided equally over the remaining five years of contract. If a player is traded or retires, the entire remaining amount of his signing bonus which has not yet been accounted for will count against the team's salary cap for that season. (Additionally a signing bonus is merely guaranteed payment, and is not necessarily paid in its entirety upon signing. Part of the bonus can be placed in escrow to be paid at a later date negotiated in the contract.) Now you have wasted 20 milutes of my life trying top educate you. Either you get it or you don't. If you don't then I can help you no more. Link to comment Share on other sites More sharing options...
JETSFAN5180 Posted February 13, 2006 Share Posted February 13, 2006 Both has beens that never were.Why not bring back Nagle or Foley maybe Ray Lucas? Or heck keep Vinny he can be had for a new couch.San Diego is not gonna part with Rivers Brees has a shoulder injury.Schaub is in his 30s?So forget the youth movement. The NFL prototype qb is the Vince Young a mobile qb who is not a pocket passer and can run for yardage.Young also has a cannon for an arm.He can be groomed and the wrinkles ironed out i am not saying he is an immediate fix. Link to comment Share on other sites More sharing options...
MiamiJet Posted February 13, 2006 Share Posted February 13, 2006 Booze=Here you go http://moneycentral.msn.com/content/Retirementandwills/Escapetheratrace/P100986.asp Note under "taxes"- "Signing bonuses are paid in a lump sum" Bonuses are usually paid in lump sum. This is why Abe is pissed. Were he to slip in his bathtub and break his leg or ruin his back, he gets nothing from the Jets. A big ass signing bonus, however, would secure his future. This is the rage nowadays. Now, if he were to fall in said bathtub and break his leg or pull a Darryl Dawkins, he would already have his signing bonus. This is his lump sum or upfront money. The only thing he'd miss out on would be the rest of the money he'd expect to earn had he not suffered the injuries. Chad already has his money. The cap situation is this. We did not take an immediate cap hit upfront by giving Chad all of that money. We were able to spread out the 20 million(or whatever sum it was), over the length of his deal. this benefits us and the player. Where it doesn't benefit us is when said player is cut. Now, all of that bonus money comes due and we have to pay the piper. Cutting Chad doesn't really help us, but it does threaten Chad to restructure or redo his deal in the sense that he will no longer have a job, and any funds he is due to earn come March or June(roster, etc), will be gone. Chad will now have to pack up his family and fight for a job elsewhere. Link to comment Share on other sites More sharing options...
Boozer76 Posted February 13, 2006 Share Posted February 13, 2006 Booze=Here you go http://moneycentral.msn.com/content/Retirementandwills/Escapetheratrace/P100986.asp Note under "taxes"- "Signing bonuses are paid in a lump sum" Read your own link bro....... And those earnings are in jeopardy even before they're paid out. Agents and financial "advisers" often try to lure players with loans for the full amount of an anticipated signing bonus. When and if players actually get the money, it can be reduced by more than half, factoring in taxes, the agent's cut and NFL Players Association dues. All that puts some players in debt before they take the field. Hmmmm....Now why would a player need a loan for a SB that is paid out in full immediately.........Hmmmmmmmmmmm Link to comment Share on other sites More sharing options...
MiamiJet Posted February 13, 2006 Share Posted February 13, 2006 OK, here you go again: http://seattlepi.nwsource.com/football/164005_hawk10.html http://www.nfl.com/news/story/7167454 http://en.wikipedia.org/wiki/Salary_cap#Salary_cap_in_the_NFL Now you have wasted 20 milutes of my life trying top educate you. Either you get it or you don't. If you don't then I can help you no more. Good stuff. You are both right. The problem is that some teams handle the signing bonus differently. Some pay it upfront, while others place it into escrow. When Da F'n Soldier(Winslow) wrecked his head, bike and knee, he had already received, I believe, $9 million upfront, which Cleveland threatened to recoup. Thanks for the info. I did not realize that some teams differed in their approach. Link to comment Share on other sites More sharing options...
Scott Dierking Posted February 13, 2006 Share Posted February 13, 2006 OK, here you go again: http://seattlepi.nwsource.com/football/164005_hawk10.html http://www.nfl.com/news/story/7167454 http://en.wikipedia.org/wiki/Salary_cap#Salary_cap_in_the_NFL Now you have wasted 20 milutes of my life trying top educate you. Either you get it or you don't. If you don't then I can help you no more. Booze-No reason to get catty. I had not heard before that some teams can extend the bonus through the length of the contract. I would assume that it has to be written into teh contract like that. You seem to have heard that some are done in a lump sum. I believe the large majority of them to be one lump sum, from what I have read. On to point-Do you know how the Jets structured Peeny's? Link to comment Share on other sites More sharing options...
Boozer76 Posted February 13, 2006 Share Posted February 13, 2006 The bottom linre is we are both right. The TEAM has the right to pay out the SB over the life of the contract or immediately up front. What the TEAM does not have the option of doing is prorating the remaining SB if they decide to cut the player. In that case the remainder is all due upon cutting the player which is the case of Chad. A SB of 16 million is very rarely paid in full up front. Link to comment Share on other sites More sharing options...
Scott Dierking Posted February 13, 2006 Share Posted February 13, 2006 Read your own link bro....... Hmmmm....Now why would a player need a loan for a SB that is paid out in full immediately.........Hmmmmmmmmmmm Booze=That speaks to BEFORE they are signed. Befor contract ink is dry. OK? Link to comment Share on other sites More sharing options...
Scott Dierking Posted February 13, 2006 Share Posted February 13, 2006 A SB of 16 million is very rarely paid in full up front. You haven't offered proof to the frequency. I would be interested in seeing that. Link to comment Share on other sites More sharing options...
Boozer76 Posted February 13, 2006 Share Posted February 13, 2006 You haven't offered proof to the frequency. I would be interested in seeing that. As would I, but I am not going to spend my entire night looking up links. Link to comment Share on other sites More sharing options...
Boozer76 Posted February 13, 2006 Share Posted February 13, 2006 Booze=That speaks to BEFORE they are signed. Befor contract ink is dry. OK? Oh come on now. So you're telling me that a firm is going to loan millions on the prospet of a player receiving some amount in a SB? They have no idea how much NFL teams are going to guarantee, and in what form if the contract isn't signed. Furthermore, what idiot in his right mind would take out a loan in the millions if they are going to get it in say one week after the contract ink is dried? Link to comment Share on other sites More sharing options...
Scott Dierking Posted February 13, 2006 Share Posted February 13, 2006 Oh come on now. So you're telling me that a firm is going to loan millions on the prospet of a player receiving some amount in a SB? They have no idea how much NFL teams are going to guarantee, and in what form if the contract isn't signed. Furthermore, what idiot in his right mind would take out a loan in the millions if they are going to get it in say one week after the contract ink is dried? You would be surprised. Ever see 1st round draft picks as they arrive to the podium in $3,000 suits and pull up in Jags. They take loans out on themselves, and there are people that are to willing to do it. Happens all the time Link to comment Share on other sites More sharing options...
jets rooter Posted February 13, 2006 Share Posted February 13, 2006 let's go straight ahead.pennington is finished as a competitive q.b.the chances of him coming back to full strength are impossible.the jets cannot go with a dump off q.b. nfl defenses are hip to him and will load up on him.this draft is very deep.if the jets trade down they can still get a great player +extra picks in the next three rounds.I say go for it and build foe the future. Link to comment Share on other sites More sharing options...
PatsFanTX Posted February 13, 2006 Share Posted February 13, 2006 You haven't offered proof to the frequency. I would be interested in seeing that. Because salaries have continued to grow at a rate outpacing the salary cap, teams have found ways to circumvent the cap. Signing bonuses don't count toward a team's cap for a given year. A player who receives a signing bonus gets more money for that year than his recorded "salary," leaving more room in the cap for the other players. Say, for example, a player wants a seven-year, $60-million contract. Let's say that the owner decides to give that player an $11-million signing bonus, which is all paid out in the first year but gets factored into the cap as prorated over the course of the seven-year contract ($11-million / 7 years = $1.57-million per year). Most NFL contracts are "back-ended" -- most of the base salary is located in the last two or three years of the contract. If we suppose that our player's contract is structured so that he has a base salary of $2-million the first year, with higher base salaries in the final two years of the contract, the $13-million (base salary + signing bonus) paid out in the first year appears as $3.57-million to the cap! The advantage of signing bonuses for the owner is that he now has more money to spend under the cap. This is how the Washington Redskins ran up a total payroll of $92.41-million in the 2000 season when the cap was $67-million. The advantage for the player is that all signing-bonus money is guaranteed to be paid, whereas an NFL contract is not guaranteed. http://entertainment.howstuffworks.com/question644.htm Link to comment Share on other sites More sharing options...
Boozer76 Posted February 13, 2006 Share Posted February 13, 2006 Booze-No reason to get catty. I had not heard before that some teams can extend the bonus through the length of the contract. I would assume that it has to be written into teh contract like that. You seem to have heard that some are done in a lump sum. I believe the large majority of them to be one lump sum, from what I have read. On to point-Do you know how the Jets structured Peeny's? Didn't mean to get catty, I just am a bit cranky for other reasons right now. Sorry bout that. Like I said earlier, we are both right. Most of what I have read seems to point to prorating the payment, but I am sure there are just as many that pay it out immediately. In any case, getting back to Pennington, it really doesn't matter whether we pay him a dime or not. Cutting him now at a wash in terms of what hits the cap (12 million either way) absolves us of any amount due in 2007. That is why it makes sense to do it. If he restructures, so be it. But I don't think it is worth it for the team. Link to comment Share on other sites More sharing options...
LionelRichie Posted February 14, 2006 Share Posted February 14, 2006 Didn't mean to get catty, I just am a bit cranky for other reasons right now. Sorry bout that. Like I said earlier, we are both right. Most of what I have read seems to point to prorating the payment, but I am sure there are just as many that pay it out immediately. In any case, getting back to Pennington, it really doesn't matter whether we pay him a dime or not. Cutting him now at a wash in terms of what hits the cap (12 million either way) absolves us of any amount due in 2007. That is why it makes sense to do it. If he restructures, so be it. But I don't think it is worth it for the team. if pennington doesn't restructure he will likely earn $0 next year as he will find it extremely tough to be on someone's openning day roster. his restructure helps the team b/c it keeps him on the roster and continues the prorate of the SB. even on IR he earns a check for the jets - i could see them keeping him on IR for a couple of years and then he will get a coaching job somewhere. Link to comment Share on other sites More sharing options...
Thor99 Posted February 14, 2006 Share Posted February 14, 2006 If we draft Vince Young at #4 Chads done plain and simple.The draft will determine Chads career as a New York Jet. If we draft Vince Young at #4 the Jets are done. Plain and simple. Link to comment Share on other sites More sharing options...
Smizzy Posted February 14, 2006 Share Posted February 14, 2006 Vince Young = Aaron Brooks Yea. Link to comment Share on other sites More sharing options...
Sperm Edwards Posted February 15, 2006 Share Posted February 15, 2006 It is a privledge to read this thread about Chad Pennington I had to go back & find this one. Some funny stuff this past week but this is my POTW NOM. Spit my drink all over my desk. Link to comment Share on other sites More sharing options...
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