Stephen1, on 05 March 2013 - 12:13 PM, said:
I think this is the deal with Spencer....
Spencer is a good player...he is very good vs the run and adequate as a pass rusher. Dallas has huge needs along the OL and at RB, and I think they need to hit that in this years draft, they think if they let Spencer walk it opens up a huge hole at DE that they would need to address early in the draft, then when you consider this draft doesn't appear deep at all DE is not the way to go. I think they are just renting Spencer for the year. Now next year they either would have to ish or get off the pot, long term contract or let him walk....and they will let him walk.
I understand that, but the restructurings are just buying time, not solving the problem. If the end solution is to let Spencer walk because they can't cut any of the guys they restructured then are they really in a better place? At the end of the day the Cowboys will have paid Spencer how much over the past 2-3 years? $22-35M? Does that make any sense for a non-probowl talent?
When looking at all the restructuring going on let's take the Bears restructured Peppers' contract back in 2011. Granted there are a few ways of doing it, but it all has the same underlying logic.
The Bears reworked the contract for the Pro Bowl defensive end in 2011 and doing so again would create huge cap figures for Peppers in the final two years of his contract in 2014 and '15. Peppers’ 2013 cap figure is $16,383,333 and he has a base salary of $12.9 million with a $100,000 workout bonus.
Here are the numbers in play for Peppers right now:
2013 Base salary $12.9 million, $100,000 workout bonus, cap figure $16,383,333, proration $3,183,333.
2014 Base salary $13.9 million, $100,000 workout bonus, cap figure $17,383,333, proration $3,183,333.
2015 Base salary $16.5 million, cap figure $19,683,335, proration $3,183,335.
Restructuring Peppers’ contract now would enable the Bears to create the most cap savings with a single transaction, short of releasing a player with a big ’13 cap number, something that will not happen. But restructuring Peppers again will create even larger cap figures in the final two years of the contract.
So his remaining cap numbers would look like this:
2014 cap figure $21,049,999.
2015 cap figure $23,350,001.
This type of cap management is long term cap suicide. What's compounding the Cowboys problem is one of the assets they want to keep is Spencer, who's only a one year solution at this point. The worst case situation is 1-2 years down the road. They will have players who don't warrant their future salary and there's some large dead money associated with cutting them. Essentially they might let Spencer walk and make a few cuts and they won't free up enough money to replace the players that walked away.