Jump to content

NYJ | Coles drops Demands & Ellis Restructures


Smizzy
 Share

Recommended Posts

Jets: Working to get Coles Friday, March 04, 2005

BY DAVE HUTCHINSON

Star-Ledger Staff

The Jets moved quickly yesterday to ease the pain of losing two players on the opening day of free agency.

Talks to revive the Laveranues Coles-for-Santana Moss trade heated up, and the club signed free-agent running back Derrick Blaylock to a five-year, $11.1 million deal that includes a $3.2 million signing bonus. Blaylock, who played the past four seasons for the Kansas City Chiefs, replaces LaMont Jordan, who signed with the Oakland Raiders yesterday.

The Jets and the agent for Coles, Roosevelt Barnes, continued their discussions yesterday. It appears the two sides are getting closer to working out a trade as Coles has apparently dropped his demand for a new contract. The Redskins yesterday signed Patriots free-agent wide receiver David Patten, perhaps signaling some movement in a deal to move Coles.

To approve the trade, Coles is now said to want about $1.5 million over the next three years to get his contract numbers to roughly $15 million for the three seasons. The five-year veteran, who received the final $5 million of his $13-million roster bonus on Tuesday, is scheduled to have base salaries of $5 million in 2006, $3.75 million in 2007 and $5 million in 2008.

Coles, however, will likely want some his base salaries guaranteed and that could be another stumbling block.

Last week, the Redskins cleared room on their salary cap by restructuring the contract of tackle Chris Samuels and seem in a better position to absorb the cap hit in excess of $9 million that would occur by trading Coles.

It appears both clubs would like to make the trade. The Redskins don't want an unhappy Coles and it would be hard for the Jets to bring back Moss after shopping him so publicly.

Meanwhile, Blaylock, 25, seems to be a nice pickup for the Jets. Last season he rushed for 539 yards and eight touchdowns on 118 carries (4.6-yard average), all career highs. Blaylock (5-9, 210 pounds) and Larry Johnson split time for the injured Priest Holmes, with Blaylock starting five games.

With the Jets, Blaylock, a speedy, change-of-pace back, will spell veteran Curtis Martin. He's also a good receiver, catching 25 passes for 246 yards and a touchdown last season. In his career, Blaylock has 156 carries for 723 yards and 10 touchdowns. He was a fifth-round pick out of Stephen F. Austin in 2001.

"Derrick is thrilled," said Blaylock's agent, Mike Huyghue. "It's a great opportunity. The Jets are a great club. They were a heartbeat away from the Super Bowl last season. He can be a great complementary back to Curtis Martin. It's just a great situation."

Huyghue said his client may have gotten more money elsewhere, but the Jets are the team he wanted to play for.

"Derrick just feels really comfortable with his role with the Jets," Huyghue said. "He likes (coach) Herman Edwards and (running back coach) Dick Curl. He knew (general manager) Terry Bradway from Kansas City. He was just overwhelmed with the interview process."

As was the case with nose tackle Jason Ferguson, who signed with the Cowboys. The Jets went down fighting in an effort to retain the 26-year-old Jordan. It is believed they offered Jordan a five-year deal worth between $20 million and $22 million that included more than $10 million in guaranteed money. Jordan signed a five-year, $27.5 million deal that included $15.7 million in guaranteed money with the Raiders.

Notes:

Giants unrestricted free agent DT/DL Lance Legree visited the Jets yesterday. ... The Jets have made tender offers to restricted free-agent TE Chris Baker, C/G Jonathan Goodwin and WR Jonathan Carter. ... WR Wayne Chrebet has received the first installment ($250,000) of his split $400,000 roster bonus.

In Related news....

** The Jets created $5.6 million in cap room by restructuring Shaun Ellis' contract. Instead of a $9.4 million cap charge, it's $3.8 million.

Link to comment
Share on other sites

The Jets are acting like they need some money to sign a big free agent. Based on what I read Coles will not be breaking the bank so are they making a play for Smoot or Baxter? Since it makes sense probably not but I would take Pollard to help ease some pain.

Link to comment
Share on other sites

Restructuring Ellis is puzzling.

Weren't you guys like 10 mil under the cap already?

Even a premier FA would usually only have a ~4 mil cap hit in his first year, often more like 2 or 3 (Colvin's first year cap hit was 1.8 million).

If the Jets really did have 10 mil in cap room that's nothing short of mystifying.

Link to comment
Share on other sites

Restructuring Ellis is puzzling.

Weren't you guys like 10 mil under the cap already?

Even a premier FA would usually only have a ~4 mil cap hit in his first year, often more like 2 or 3 (Colvin's first year cap hit was 1.8 million).

If the Jets really did have 10 mil in cap room that's nothing short of mystifying.

guess he pulled a Bruschi...likes playing here, wants to win so he helped out the team a bit

Link to comment
Share on other sites

Restructuring Ellis is puzzling.

Weren't you guys like 10 mil under the cap already?

Even a premier FA would usually only have a ~4 mil cap hit in his first year, often more like 2 or 3 (Colvin's first year cap hit was 1.8 million).

If the Jets really did have 10 mil in cap room that's nothing short of mystifying.

I'd have to dig up Flows post

But I think when we signed Ellis, his ENTIRE Bonus was felt this year....the Jets didn't carry any of the other monies to future years!!

sh*t, I'll find it :shock:

Link to comment
Share on other sites

guess he pulled a Bruschi...likes playing here, wants to win so he helped out the team a bit

No. 99.9% chance the restruture was a typical guarantee of his salary to prorate it over the life of the contract.

In other words, you freed up 5.6 million in cap room by pushing it onto future years as guaranteed money, which is puzzling if the Jets have as much cap room as has been widely reported.

Link to comment
Share on other sites

Flowtrain Posted on: Dec 2 2004, 11:09 PM

Replies: 36

Views: 1173 There are often conflicting reports of contractual details in the days following a new deal. However, so far, three sources have corroborated the fact that Ellis's 2005 cap hit includes his entire $8M roster bonus (plus an additional $1.4M resulting from salary, workout bonus and prorated signing bonus). Assuming this is correct, this a very significant development worth noting for a number of reasons.

Although the two-tiered bonus concept is common, the 2nd installment generally comes in the form of an option bonus prorated over the length of the extension. Here, the roster bonus isn't prorated; it's a lump sum hit against the cap. This is a rarity in the NFL, the most similar recent case being Antoine Winfield on the Vikings (there, his roster bonus was one installment in his first year).

The importance here is multi-faceted.

First, it's a tremendous sign that the Jets have chosen to willingly swallow a $9.4M one-year cap hit for one player, when they could've easily taken a hit in the neighborhood of $3M. Imagine if you would: Tim Robbins in the Shawshank Redemption, hands raised to the sky savoring his freedom after he emerges from the excrement filled tunnel of raw sewage. This is how Tannenbaum feels breaking free from the shackles of the back-loaded Tuna contracts. Okay, a bit dramatic. But you get the point. While before we only had reports that the Jets 2005 cap status was extremely favorable, here's the first hard proof of a monumental turnaround in the cap situation of old.

Second, recognize this: Tannenbaum, our assistant GM, is outstanding. We all know that his insurance protection cap gadget for Curtis was innovative. And we know that he was quick to follow the Eagles lead when Joe Banner discovered the cap deferment incentive loophole (Tannenbaum used Ken Yon Rambo). To be fair, Tannenbaum did share in some of the blame with the NFLMC during the improperly executed attempt to match Morton's contract. But the huge front-loaded roster bonus concept is also ingenious (assuming you can afford it) and it will continue to grow in popularity. Here's why.

A. Trades. In just a couple of years, Ellis is a rare marketable commodity for the Jets. Should Thomas emerge or another stud DE fall in our lap through the draft, Ellis can be traded with minimal cap damage to the Jets, and without much baggage to the receiving team.

B. Insurance. Heaven forbid Ellis should break down either due to injury, decline in play, or some unforseeable reason, the Jets can let him go without taking a big hit. He's expendable. Many teams have had their caps implode due to unexpected injury or disappointing lack of performance. The Jets have protection against that.

C. Leverage. Due to Ellis' expendability mentioned above, should the Jets need or wish to restructure down the road, they have great leverage over Ellis at the bargaining table.

D. Budget Management. For years, the Jets had been in reaction mode, filling in FAs when affordable and when absolutely necessary. However, this is a proactive maneuver that demonstrates long-term planning and foresight that should allow the Jets to remain competitive and relatively intact for the long-term.

Another interesting wrinkle here is that should Abe receive the tag in 2005, that's around $16M in cap space tied up in two players at the same position. It appears the even with Ellis' front-loading, the master plan still contains enough cushion to accommodate such a predicament. Despite this positive sign, discretion still dictates that at least a couple FAs will be let go. Remember, Moss's expiring contract is yet another that looms on the horizon. But for now, Jets fans deserve to soak in this latest development and take comfort in its significance. On the cap front, good news like this has been a long time coming

Link to comment
Share on other sites

Obviously Losing Fergie was not in the plans

TB has to pull up the trousers, and get to work

That's the thing, losing Ferguson FREES UP money.

First year FAs cost less than you think, you've just lost two players who you would have paid significant coin to, and you're reported to have a lot of cap room already.

:-s:-k#-o:-k:-s:-s:-s:-s:shock: :? :-s:-s

Link to comment
Share on other sites

which is puzzling if the Jets have as much cap room as has been widely reported.

the JETS don't have as much as widely reported - the tag of Abe put them at around 7 mil left - if we figure 5 Mil to sign rookies and UDFA that's not alot of a wiggle room

Link to comment
Share on other sites

the JETS don't have as much as widely reported - the tag of Abe put them at around 7 mil left - if we figure 5 Mil to sign rookies and UDFA that's not alot of a wiggle room

2 mil is more realistic, assuming the Jets are already over 51 players

~1.000 mil 1st year hit on round 1

~0.600 mil 1st year hit on round 2

~0.350 mil 1st year hit on round 3

Then you subtract the salaries of the guys who'll be bumped off the top 51, around 700k probably.

That's a 1.250 mil cap hit on the first 3 rounds.

Day 2 guys and UDFAs actually SAVE YOU MONEYor cost nothing, because they are cheaper than the guys you already have.

Link to comment
Share on other sites

this feeing up of funds and going against the previous plan of accelerating Ellis' money is a curious move

my guess all along is that they were going after Baxter who would be the cheapest of the 'big name' CBs out there, this move signals to me that they are going after possibly smoot who will command a big bonus as well

they are probably trying to give a big bonus and absorb as much of it as possible like tehy were trying to do with Ellis in order to lessen the cap hit in future years

it is unlikely with the money already invested in the DL that they spend this money there, but the bottom line is that the money is gonna get spent so for those that want a big splash, I'm quite sure it is coming

Link to comment
Share on other sites

but the bottom line is that the money is gonna get spent so for those that want a big splash, I'm quite sure it is coming

Jets | Smoot Agrees - from www.KFFL.com

Fri, 4 Mar 2005 10:20:35 -0900

Dave Hutchinson, of The Star-Ledger, reports the New York Jets have signed unrestricted free agent CB Fred Smoot (Redskins) to a seven-year, $65.4 million contract that includes a signing bonus of $23.2 million.

Link to comment
Share on other sites

LOL, right, 23 Million Signing Bonus. LOL!!!!

I want Smoot Bad, and think he's worth the asking price of a 12-14 M signing bonus. He could lock down the #1 CB spot for the next 5 years, and with Barrett and Strait (hopefully) could make CB a strength spot instaed of the weakness it's been for a while now....

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share



×
×
  • Create New...