124 Posted February 24, 2005 Share Posted February 24, 2005 Possible Coles trade stuck in salary cap limbo By Len Pasquarelli, ESPN.com INDIANAPOLIS -- Several league and team sources attending the annual NFL predraft combine workouts confirmed for ESPN.com Thursday that the Washington Redskins have at least three franchises legitimately interested in trading for unhappy wide receiver Laveranues Coles. But even with no lack of suitors for Coles, the Redskins still face this knotty problem in trying to strike a deal, one which would likely bring a high-round draft pick in return: Because of the convoluted salary cap ramifications, the Redskins can't peddle Coles to another club until they sell offensive tackle Chris Samuels on restructuring his current and burdensome contract. And while the Redskins have crept a bit closer to Samuels on a reworked contract, which would extend his current deal and provide Washington much-needed cap relief for 2005, there remains plenty of work to be done to consummate an agreement. "Right now," said a high-ranking official from one of the franchises attempting to acquire Coles from Washington, "the Redskins are (stuck). They simply can't absorb, at least not yet, the cap hit they'll take from trading Coles. They need to find room and the obvious way is to finish off a new deal with Samuels. But I guess that's not done yet." The salary cap math involved in the Coles mess: If Washington trades the wide receiver, whom they signed as a restricted free agent in 2003, forfeiting a first-round draft choice to the New York Jets in that transaction, they face a cap impact in excess of $9 million. Efforts to have Coles bypass a $5 million deferred signing bonus due him on April 1, a move that would have dramatically decreased the cap hit, seem to have fallen apart. Coles had originally agreed to forfeit the $5 million, but only as part of an agreement that he would be released, and able to choose his next team. The Redskins don't have the cap space sufficient to afford the $9 million charge that would accompany a Coles trade. But Samuels, whose cap charge for 2005 is $9.5 million and who is due $6.5 million in base salary and bonuses, can provide desperately needed room if he agrees to a new deal. Samuels, 27, is agreeable to an extension but the numbers must be right before the five-year veteran, a first-round pick in the 2000 draft, signs off on a reworked contract. As of Thursday afternoon, despite accelerated negotiations between the Redskins and Samuels' agent, an accord was not imminent. Agent Jimmy Sexton in January sent the Redskins a contract proposal that was rejected by Washington officials. A month later, the Redskins would love to strike a deal based on those January figures. Problem is, with the big-money contracts already signed during this offseason by Walter Jones of Seattle and Indianapolis' Ryan Diem, the financial landscape for offensive tackles has been significantly altered. Jones received a signing bonus of $16 million on a seven-year contract with total value of $52.5 million. Although he is one of the better left tackles in the league, Samuels does not rate in Jones' elite class, but still will merit a contract with a signing bonus close to what Jones received an a per-year average of at least $6 million. Until the Redskins come up with the right figures, though, the three teams interested in acquiring Coles figure to be cooling their heels. Len Pasquarelli is a senior NFL writer for ESPN.com Link to comment Share on other sites More sharing options...
Mean Papi Green Posted February 24, 2005 Share Posted February 24, 2005 Possible Coles trade stuck in salary cap limbo By Len Pasquarelli, ESPN.com INDIANAPOLIS -- Several league and team sources attending the annual NFL predraft combine workouts confirmed for ESPN.com Thursday that the Washington Redskins have at least three franchises legitimately interested in trading for unhappy wide receiver Laveranues Coles. But even with no lack of suitors for Coles, the Redskins still face this knotty problem in trying to strike a deal, one which would likely bring a high-round draft pick in return: Because of the convoluted salary cap ramifications, the Redskins can't peddle Coles to another club until they sell offensive tackle Chris Samuels on restructuring his current and burdensome contract. And while the Redskins have crept a bit closer to Samuels on a reworked contract, which would extend his current deal and provide Washington much-needed cap relief for 2005, there remains plenty of work to be done to consummate an agreement. "Right now," said a high-ranking official from one of the franchises attempting to acquire Coles from Washington, "the Redskins are (stuck). They simply can't absorb, at least not yet, the cap hit they'll take from trading Coles. They need to find room and the obvious way is to finish off a new deal with Samuels. But I guess that's not done yet." The salary cap math involved in the Coles mess: If Washington trades the wide receiver, whom they signed as a restricted free agent in 2003, forfeiting a first-round draft choice to the New York Jets in that transaction, they face a cap impact in excess of $9 million. Efforts to have Coles bypass a $5 million deferred signing bonus due him on April 1, a move that would have dramatically decreased the cap hit, seem to have fallen apart. Coles had originally agreed to forfeit the $5 million, but only as part of an agreement that he would be released, and able to choose his next team. The Redskins don't have the cap space sufficient to afford the $9 million charge that would accompany a Coles trade. But Samuels, whose cap charge for 2005 is $9.5 million and who is due $6.5 million in base salary and bonuses, can provide desperately needed room if he agrees to a new deal. Samuels, 27, is agreeable to an extension but the numbers must be right before the five-year veteran, a first-round pick in the 2000 draft, signs off on a reworked contract. As of Thursday afternoon, despite accelerated negotiations between the Redskins and Samuels' agent, an accord was not imminent. Agent Jimmy Sexton in January sent the Redskins a contract proposal that was rejected by Washington officials. A month later, the Redskins would love to strike a deal based on those January figures. Problem is, with the big-money contracts already signed during this offseason by Walter Jones of Seattle and Indianapolis' Ryan Diem, the financial landscape for offensive tackles has been significantly altered. Jones received a signing bonus of $16 million on a seven-year contract with total value of $52.5 million. Although he is one of the better left tackles in the league, Samuels does not rate in Jones' elite class, but still will merit a contract with a signing bonus close to what Jones received an a per-year average of at least $6 million. Until the Redskins come up with the right figures, though, the three teams interested in acquiring Coles figure to be cooling their heels. Len Pasquarelli is a senior NFL writer for ESPN.com lol, i just came on here to post this you quick bastid Link to comment Share on other sites More sharing options...
Smizzy Posted February 24, 2005 Share Posted February 24, 2005 **** Washington. I would be just as happy watching them choke to death on that Coles deal. Everybody raved about Snyder and his "innovative" style...how's that working out for you? The Washingotn Deadskins are ****ed. Link to comment Share on other sites More sharing options...
Latinlawyer Posted February 24, 2005 Share Posted February 24, 2005 Possible Coles trade stuck in salary cap limbo By Len Pasquarelli, ESPN.com INDIANAPOLIS -- Several league and team sources attending the annual NFL predraft combine workouts confirmed for ESPN.com Thursday that the Washington Redskins have at least three franchises legitimately interested in trading for unhappy wide receiver Laveranues Coles. But even with no lack of suitors for Coles, the Redskins still face this knotty problem in trying to strike a deal, one which would likely bring a high-round draft pick in return: Because of the convoluted salary cap ramifications, the Redskins can't peddle Coles to another club until they sell offensive tackle Chris Samuels on restructuring his current and burdensome contract. And while the Redskins have crept a bit closer to Samuels on a reworked contract, which would extend his current deal and provide Washington much-needed cap relief for 2005, there remains plenty of work to be done to consummate an agreement. "Right now," said a high-ranking official from one of the franchises attempting to acquire Coles from Washington, "the Redskins are (stuck). They simply can't absorb, at least not yet, the cap hit they'll take from trading Coles. They need to find room and the obvious way is to finish off a new deal with Samuels. But I guess that's not done yet." The salary cap math involved in the Coles mess: If Washington trades the wide receiver, whom they signed as a restricted free agent in 2003, forfeiting a first-round draft choice to the New York Jets in that transaction, they face a cap impact in excess of $9 million. Efforts to have Coles bypass a $5 million deferred signing bonus due him on April 1, a move that would have dramatically decreased the cap hit, seem to have fallen apart. Coles had originally agreed to forfeit the $5 million, but only as part of an agreement that he would be released, and able to choose his next team. The Redskins don't have the cap space sufficient to afford the $9 million charge that would accompany a Coles trade. But Samuels, whose cap charge for 2005 is $9.5 million and who is due $6.5 million in base salary and bonuses, can provide desperately needed room if he agrees to a new deal. Samuels, 27, is agreeable to an extension but the numbers must be right before the five-year veteran, a first-round pick in the 2000 draft, signs off on a reworked contract. As of Thursday afternoon, despite accelerated negotiations between the Redskins and Samuels' agent, an accord was not imminent. Agent Jimmy Sexton in January sent the Redskins a contract proposal that was rejected by Washington officials. A month later, the Redskins would love to strike a deal based on those January figures. Problem is, with the big-money contracts already signed during this offseason by Walter Jones of Seattle and Indianapolis' Ryan Diem, the financial landscape for offensive tackles has been significantly altered. Jones received a signing bonus of $16 million on a seven-year contract with total value of $52.5 million. Although he is one of the better left tackles in the league, Samuels does not rate in Jones' elite class, but still will merit a contract with a signing bonus close to what Jones received an a per-year average of at least $6 million. Until the Redskins come up with the right figures, though, the three teams interested in acquiring Coles figure to be cooling their heels. Len Pasquarelli is a senior NFL writer for ESPN.com Coles can't seriously think some club wont want him to change the #'s on his contract, especially with a bum toe that he wont attempt to fix with surgery. I would not advocate the Jets picking up Coles unless they got him on the cheap! LL Link to comment Share on other sites More sharing options...
Mean Papi Green Posted February 24, 2005 Share Posted February 24, 2005 would have been nice if ole len named the three suitors. I would like coles back but NOT via trade if we have to trade for him, I'd take Mason Link to comment Share on other sites More sharing options...
Latinlawyer Posted February 24, 2005 Share Posted February 24, 2005 Does anyone have access to old quotes that Coles may have said regarding the Jets as he left. I think everyone needs to be reminded of what this guy said and what that short midget kickoff returner said as they left. LL Link to comment Share on other sites More sharing options...
Mean Papi Green Posted February 24, 2005 Share Posted February 24, 2005 Does anyone have access to old quotes that Coles may have said regarding the Jets as he left. I think everyone needs to be reminded of what this guy said and what that short midget kickoff returner said as they left. LL I'd recomend a search on JI if you weren't banned that is Link to comment Share on other sites More sharing options...
Latinlawyer Posted February 24, 2005 Share Posted February 24, 2005 I'd recomend a search on JI if you weren't banned that is MPG, my rican bruther...you are a riot. Anyone with access to JI.com, can you guys retrieve the Coles quotes? thanks! LL Link to comment Share on other sites More sharing options...
TomShane Posted February 24, 2005 Share Posted February 24, 2005 Basically he said that the Jets disrespected him and lied to him. Oh yeah, another genius signing--Chad Mortom--was laughing on the way out the door because Spurrier was going to give him 10 touches per game. HAHAHAHAHAHAHAHAA! I LOVE THAT THE SKINS ARE F*CKED! I LOVE IT!!!!!!!! Link to comment Share on other sites More sharing options...
Mean Papi Green Posted February 24, 2005 Share Posted February 24, 2005 MPG, my rican bruther...you are a riot. Anyone with access to JI.com, can you guys retrieve the Coles quotes? thanks! LL I think Coles was young and immature and hurt that the Jets didnt match the offer he said stuff like he was insulted by their initial offer and it was a slap in the face and crap like that, he punked up but like Herm said he needs to grow up a bit, maybe he did but apparently maybe he didnt I really cant see giving up ANYTHING to trade for him, that would just be retarded, FA i would consider though Link to comment Share on other sites More sharing options...
TomShane Posted February 24, 2005 Share Posted February 24, 2005 Word, MB. If you trade for him, you're getting that Albatross salary back in full. Wait for him to be cut and then pick him up off the street if you want him. Me? I'd let him rot. Link to comment Share on other sites More sharing options...
Mean Papi Green Posted February 24, 2005 Share Posted February 24, 2005 Word, MB. If you trade for him, you're getting that Albatross salary back in full. Wait for him to be cut and then pick him up off the street if you want him. Me? I'd let him rot. I'm liking the idea of Mason as a short term answer and seeing how our other three do under Dinger, then make a decision on Tan and Mason's future with us maybe take a chance with a rookie too Link to comment Share on other sites More sharing options...
TomShane Posted February 24, 2005 Share Posted February 24, 2005 I'd be absolutely shocked if the Jets don't take a wideout with one of their first three picks. Alot of nice project-types out there this year. I'm liking the idea of Mason as a short term answer and seeing how our other three do under Dinger, then make a decision on Tan and Mason's future with us maybe take a chance with a rookie too Link to comment Share on other sites More sharing options...
Latinlawyer Posted February 24, 2005 Share Posted February 24, 2005 I'm liking the idea of Mason as a short term answer and seeing how our other three do under Dinger, then make a decision on Tan and Mason's future with us maybe take a chance with a rookie too No matter what, we cannot trade for him. That salary is a deal killer. The redskins gave Coles that crazy salary to keep the Jets at bay, now its biting them in the azz. F the Redskins...they can keep their lame toe wr unless....they cut him. Then we can get him at cut rate. YEAH BEOTCH! LL Link to comment Share on other sites More sharing options...
TomShane Posted February 24, 2005 Share Posted February 24, 2005 No matter what, we cannot trade for him. That salary is a deal killer. The redskins gave Coles that crazy salary to keep the Jets at bay, now its biting them in the azz. F the Redskins...they can keep their lame toe wr unless....they cut him. Then we can get him at cut rate. YEAH BEOTCH! LL SNYDER ES UN PUTA!!!!!!!!!! Link to comment Share on other sites More sharing options...
124 Posted February 25, 2005 Author Share Posted February 25, 2005 Mason would probably be the best pick-up of the two but I would welcome back Coles if he would A-Apologize and B-Come here for at least half of what he was making in Washington. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.