UPDATE: Edelman contract numbers leave Pats with little cap space


The numbers are in on Julian Edelman's new deal. Per ESPN Boston's Mike Reiss, lets take a look:


Term: Four years
Signing bonus: $5 million
Maximum value: $19 million

2014
Base: $1 million (guaranteed)
Roster bonus: $500,000 ($31,250 per game on 46-man roster)
Incentives: Up to $500,000
Cap: $2.75 million

2015
Base: $2.25 million ($2 million guaranteed for injury only, converts to skill guarantee in ’15)
Roster bonus: $750,000 ($46,875 per game on 46-man roster)
Incentives: Up to $500,000
Cap: $4.25 million

2016
Base: $2.5 million
Roster bonus: $750,000 ($46,875 per game on 46-man roster)
Offseason workout: $250,000
Incentives: Up to $500,000
Cap: $4.75 million

2017
Base: $3 million
Roster bonus: $750,000 ($46,875 per game on 46-man roster)
Offseason workout: $250,000
Incentives: Up to $500,000
Cap: $5.25 million

Considering how soft the receiver market was in 2014 it's not a bad haul for Edelman. The deal certainly pales in comparison to that given last year to Danny Amendola, but Amendola was fortunate enough to hit free agency before this year, which has seen very few receivers paid.

As with all of the Patriots 2014 signings, Edelman has a low 2014 cap charge to help squeeze his deal under the cap. However, his signing still leaves the Patriots without a lot of money to spend. The always thorough PatsCap.com now has the Patriots at $4,469,034 in space, not enough to really do anything substantial other than sign their draft picks.

So what are the Patriots options to save money?
  • One way or another, resolve the Wilfork situation- This is the big domino to fall here, as one way or another Wilfork's $11.6 million hit is being reduced. Cutting Wilfork outright will open up $8 million in cap savings, bringing the Pats number back up to $11,524,034. However, the fact that they have not already done so makes me suspect that there's a possibility that something gets worked out here between the Pats and their defensive captain. Perhaps, after surveying the market for 33 year old nose tackles coming off of a shredded Achilles, Vince released the Patriots offer of an extension doesn't look so bad. Either way, the team will save some money here. The only question is how much?
  • Trim some more fat from the budget- The Patriots have already fired a few bullets here, saving $5.35 million by cutting Steve Gregory and Isaac Sopoaga. They could save $3 million more by parting ways with Dan Connolly, a 32 year old guard whose play has declined over the past two years. Adrian Wilson shouldn't feel too safe either, as releasing the 34 year old will open up another $1.2 million.
  • Cost lowering extensions- Wilfork is the most prominent example of this, but he's far from the only candidate for an extension on the roster. Stephen Gostkowski is due $3.8 million in the final year of his deal; an extension could bring that number down for 2014. Another candidate is Devin McCourty, who had playing time escalators vault his number up to $5.1 million for the final year of his rookie deal. Extending McCourty this offseason could be key, as a year playing with Revis, Browner et all can only help McCourty's league-wide value. Signing him now could be a way to save money, both in the short term of this year and in the long term by locking him up before he hits unrestricted free agency.

In the short term, the Patriots have options to open up more spending money. Cutting Wilfork, Connolly and Wilson would open up $12.2 million in savings, which would bring them back up to around $16.6 million in space again. However, the Pats still have a number of needs to fill out and will be running low on means to create more space if they make those releases. Bottom line, the Patriots can still afford to spend, but will need to spend wisely if they want to fill all of their needs.

[UPDATE]



Post a Comment
Share