Originally Posted by thunderkyss
I don't think we were getting our money's worth out of him, when we signed him to a deal that paid him $8M a year
over the first three years.
This year, 2012, I have no problem paying him $8M..... I don't know what his cap number was for the year, or how the contract worked out, I thought he restructured.
His number has got to "fit" within the cap but I wouldn't mind seeing a $6M/yr deal with performance bonuses where a year like 2012 would get him an extra 2-3 mil.
OK, I'm going to take a stab at this.
Originally, Smith signed a 5yr deal for $35M (including $12.5 in signing bonus.)
He was guaranteed $19.4M through the first two years.
What wasn't reported at the time, but now shows up on Spotrac is that he has to earn part of his salary in the last 3 years through some form of bonus (roster and/or incentive bonus,) at $1.3M per year.
He was due to make $4.4 in 2011 (including the $1.3) when he agreed to restructure his contract.
There wasn't any report of him receiving any front loaded money to defer his salary.
Again, as per Spotrac, he only took home $2M (including the $1.3M) instead of roughly some $4.4M
In another word, it looks like he took one for the team.
He risked leaving money on the table (or he was forced too.)
Based on the Demeco Ryan's situation, perhaps the remainder of his contract was guaranteed in exchange for the temporary pay cut.
If that's the case, the Texans guaranteed his contract (gaining the interest money) and cap space.
I think Smith will play through next season at a base salary of $6M plus that $1.3M roster/incentive bonus.
The Texans are in the book for the $2.5M prorated signing bonus (from the origin $12.5)
Let's assume something else entirely different .
Let's say that the Texans didn't guarantee Smith anything.
Cutting Smith would give the Texans $7.3 M in salary (but they can only use $4.8M) to find a replacement.
You're not going to be able to find a comparable player at that money.
I think Smith will stay.
Now if the Texans really like Smith, they might extend his contract at lower value per year, perhaps for another 2 to 3 years and be done with it.
There isn't a guy currently on the team that can replace him.
However, if they need to, they will have to cut him and hope that they can draft another guy. Or they can sign a low cost FA and give Jamison and Mitchell more snaps at that position.