Over the past weekend, I received some really good information on player contracts, Lions current cap status and cap commitments for the future. With the recent signings in free agency, I had to make several educated guesses on some of the monies received by the players. The recently obtained information provides better insight and I can more accurately project the Lions current cap costs. Also, I believe that the Lions are so tight against the cap, that they'll need to cut someone else before they officially sign Tatum bell.
John Kitna - As I reported earlier, Jon had reached an escalator in his contract that bumped his base pay for 2008 from $1.95M to $2.95M. In addition to that, he also reached an escalator that bumped a roster bonus due this year from $500K to $1M plus he has a playing time incentive that based on last years playing time is deemed to be likely-to-be-earned (LTBE) of $1M and is due a workout bonus of $50,000. He originally signed a 4 year contract that included a $3.5M signing bonus. His current year cap cost is $5.875M.
Roy Williams - As I reported earlier, Roy had reached an escalator in his contract that bumped his base pay by $3.15M, from $574,500 to $3,724,500. As a part of that escalator, Roy was due a Roster bonus of $1,110,000. As a result of reaching the probowl in 2006, he's also due a workout bonus of $100,000. During the summer of 2004, Roy originally signed a 6 year contract that is voidable after this season and included a signing bonus of $4.5M. The Lions also exercised two options that at the time of execution, altered the details of the contract. The first option was for $6,662,500 in 2005 and the second option was for $990,000 in 2006, those option bonuses allow for a $971,667 deion credit (I'll explain this in another blog). His current year cap cost is $6,292,833.
Michael Gaines - When I originally reported his cap cost, I classified the entire $3M of guaranteed money as signing bonus money. According to the new information, $2.4M was signing bonus and $600,000 was a roster bonus due this year, plus a $500,000 roster bonus due in 2011. Along with his base pay of $800,000, his corrected current year cap cost is $2,000,000.
Keith Smith - When I had originally estimated his cap cost, I classified the $2M guaranteed as $1.75M signing bonus and a $250K roster bonus. The new information shows that the entire $2M was signing bonus money on his 2 year contract. Therefore, along with Smith's base pay of $1M, his corrected current year cap cost is $2M.
Leigh Bodden - When I last projected his current year cap cost, I estimated that his bonuses to be $1.5M. His bonuses due this year are $500K roster bonus and a $500K likely-to-be-earned playing time and interceptions incentive. He's also due $818,750 in bonuses in 2009. His updated current year cap cost is $2.7M.
Travis Fisher - When I originally estimated his cap cost , I estimated that he was due $1.75M in base salary and $2.5M in signing bonus. He actually received a $2.25M signing bonus and a $250,000 roster bonus to go along with his $1.75M base salary. I correctly assumed that he is also due a $500,000 roster bonus in 2010. His updated current year cap cost is $2.75M.
Chuck Darby - I had very little information when I originally estimated his current year cap cost. I guessed at a $3M signing bonus. He actually received a $1.2M signing bonus and a $965,000 roster bonus, with $100,000 workout bonuses due in each year of his contract. Those costs, along with his $730,000 base salary puts his current year cap cost at $2.195M.
Drew Stanton - Either has received or will receive a $1.245M option bonus that reduced his base pay for the current season from $785,000 to $370,000. He's also due a $513,900 NLTBE bonus that is based on playing time. Unless he wins the starting job or inherits it due to injury, he likely won't obtain that bonus and it will carry over to the following season. His current year cap cost is $785,000.
Kalimba Edwards - He was designated as a June 1st cut. On June 1st, the Lions will receive $4M in cap savings and will have $2M worth of dead cap space in 2009. I explain it in a little more detail in an earlier blog entry. The $4M in cap savings will provide for the bulk of the rookie cap space needed (usually a little over $5M per year, but won't be determined until after the draft). Current year cap savings $0 (nothing until June 1st).
Current year cap status $2.4M under, without including the Brian Kelly signing.