How do the Polamalu Numbers work out? Who likes math?

[Stryker]

I understand that Troy currently counts $8.25M against the cap. ($6M Salary and 2.25M Prorated signing Bonus), and currently he is on the roster and we are under the cap.

If he's cut before June 1st he saves $3.75M in cap space ($4.5M dead money).
If he's designated a post June 1st cut he creates $6M in cap space ($2.25M dead money).
If he's traded it looks like we save $3.75M in cap space ($4.5M dead money)

How does it effect his numbers if he takes a pay cut?
I suppose the quick answer is we'd still have his Prorated signing bonus counting against the cap ($2.25M) plus the difference in his salary $6M minus the agreed pay cut amount.

How does it effect his numbers if he retires? Is there any special benefit to his dead money costs?

Next year is the last year of his contract and he would count $8M against the cap ($5.75 Salary & $2.25 prorated signing bonus)

All his cut/trade scenarios equate to $5.75 savings (2.25M dead money) in 2016.
I suppose there is no way around avoiding the $2.25M in dead money in 2016. Are there any scenarios from this year that could increase that dead money number in 2016?

 

[Litos]

I think he's gone post June 1st, unless he takes a Mega Paycut

 

[deljzc]

There is really no such thing as a "pay cut" in the NFL.

What is actually happening is the old contract is completely torn up (just like a release) and a new one is signed (just like signing a different player).

The only real thing to remember is the amortization of signing bonus is allowed to extend across contracts as long as the player is scheduled to be on your roster (this really happens very rarely and only when a new contract is signed with 3+ years left on the old contract).

So even if Polamalu decided to take a "pay cut" to say $1 million this year (just as an example), we still can designate his old contract a "June 1st cut" and spread that $4.5 million dead money into this year and next year. Then his NEW contract kicks in and we pay him a flat $1 million (which is guaranteed if he makes the opening day roster). His cap number reduces to $3.25 million and next year would be dead money of $2.25 million. Even if this isn't quite allowed exactly, the Steelers could just make the contract a 2-year deal @ $1 million per season (ot bonus) and it's the same thing for all intensive purposes.

If he retires, it really comes down to whether the Steelers can/will go after any of the last signing bonus he got in the 2014 3-year contract ($6.75 million). I doubt they will because there was probably an agreement (either written or implied) that all that money was guaranteed even in the case of retirement. Remember, Polamalu's BASE SALARY scheduled for 2014 was $8 million PRIOR to the old contract being torn up and the new 3-year deal being implemented. The new 3-year contract agreed to pay him this same amount (and I assume it assured him this money regardless of any retirement issues in 2015 or 2016).

If that's the case, then there is no difference between release or retirement. We can still spread the dead money out either all this year ($4.5 million) or split it between this year and next using the June 1st designation. I don't think it matters.

 

[Stryker]

Thanks for clarifying Del. We all appreciate your insight and understanding of the cap!

With the restructures, it may help to take all the dead money this year (since we can afford it). I suppose we have to decide which of our players with 1yr left, that we need to resign before the season starts and how the cap would be effected. If we're going to need the cap to retain these players, I can understand the post June 1st cut.

 

[xjx]

Frankly, I think it's time to move on. Let Troy go into retirement. Pick up a young guy and lets get going.

 

[insaniti]

Frankly, I think it's time to move on. Let Troy go into retirement. Pick up a young guy and lets get going.

It is, and the Steelers know this. But why force the issue if the result in salary cap is the same. He's either getting cut or will retire, just waiting to see which papers they have to file (and giving one of the all time Steeler greats plenty of time to mull his future as he deserves).

 

[swal75]

Since you can rollover unspent cap it doesn't really make sense to do anything other than a June 1st cut if we're not using the money before June 1st. Yeah, you get 2.25 in dead money next year but you can just rollover that same amount in unspent cap from this year.

There's a bunch of stuff that can happen with him(cut, retire, reduction) and I'm sure we'll sort it out.