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Old 01-22-2013   #63
76Texan
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Default Re: Will we and/or Should we keep Antonio Smith for the 2013 Season ?

Quote:
Originally Posted by amazing80 View Post
so if we extend him, only the 2.5 would stay.

So if we did 3 years 12 mil, with 6 mil signing bonus youd have (hed actually get 12.5 this season, but not all of that is against the cap)

4 + 2.5 + 2, saving a million and keeping him another 3 years while lowering his hit the next 2 seasons, correct?
Unfortunately, that's not going to work.

As per last year, there were 24 D-linemen who earned more than the 7.1 per annum that Smith was making (not counting 34 OLB.)

4 more guys made slightly less than him but still at or above the $7M threshold.

And there were a ton of them making more than $6M.

Base on that going rate, I think a 3-yr deal is probably in the 7.1, 6.5, 6 range at the minimum. That is he will probably get paid about $6.5M per year.

You just can't find a FA with that caliber for cheaper.

There's a temporary saving in cap space to restructure his contract (taking into account that we still have the $2.5 signing bonus in the book.)

Let's say we give him a new 3-yr contract at $19.5 ($4.5M restructuring bonus and $5M base salary per yr.)

Add the $2.5 to the $4.5, we have $7M that need to be prorated over 3 years for $2.333M per annum.

His cap hit for each of the next 3 years would be $5+$2.333= $7.333

Instead of $9.6M, we only need to deal with $7.333; therefore, we will have an extra $2.267M to use (kicking the can down the road.)

So I guess that can be done; but I doubt there's any more we can do.
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