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Report: Eric Ebron Restructures Deal; Frees Up Cap Space

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The Pittsburgh Steelers and Eric Ebron have reportedly worked out a contract restructure this morning:

Steelers and TE Eric Ebron agreed to a reworked contract that frees up about $3.9M in cap space, per league sources.

— Brooke Pryor (@bepryor) March 24, 2021
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The move clears up $3.9M in cap space, which the team needs more and more of. The team will continue to try and clear space ahead of the draft, and to potentially sign some other free agents.



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Thank you Eric!
 
Superman said:
extending TJ?
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They could extend tj with barely anything added this season if they did it right... i saw a breakdown of how they could do it and still make him the highest paid lb in the process

they needed about seven million or so for the draft class... they probably are adding someone fairly soon though... something sparked the Nelson cut
 
For our capologists, how much money have we kicked to the next year or two or three with all the restructures?
 
Might happen this year it can be done.
 
Hines57 said:
For our capologists, how much money have we kicked to the next year or two or three with all the restructures?
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This one is simple. Just $6M you could do anything with this year (salary $5.5M and Bonus $500K)

We freed up about $4M so I'm thinking 2 voidable years added. So the 6M is divided by 3 for years spreading out $2M over the next 3 years. So only $4M in dead cap if he leaves next year.
 
Things keep happening at the STEELERS pace which is a bit slow for some but as expected for others. Ebron extension is needed and glad he agreed as I realize like Cope said, it's a small hit if cut next year.


Salute the nation
 
Cope said:
This one is simple. Just $6M you could do anything with this year (salary $5.5M and Bonus $500K)

We freed up about $4M so I'm thinking 2 voidable years added. So the 6M is divided by 3 for years spreading out $2M over the next 3 years. So only $4M in dead cap if he leaves next year.
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Ebron had been $8.5 million against the cap for 2021: $5.5 mill in salary, $2.5 mill in prorated signing bonus, and a $500K roster bonus.

So freeing up 3.9 makes his new cap hit $4.6 million this year. Not sure exactly how they would have done that, without greatly reducing his 2021 salary.
 
Hines57 said:
For our capologists, how much money have we kicked to the next year or two or three with all the restructures?
Click to expand...
no capologist here but I think I read somewhere about 16M
 
Cope said:
This one is simple. Just $6M you could do anything with this year (salary $5.5M and Bonus $500K)

We freed up about $4M so I'm thinking 2 voidable years added. So the 6M is divided by 3 for years spreading out $2M over the next 3 years. So only $4M in dead cap if he leaves next year.
Click to expand...
topseed said:
Ebron had been $8.5 million against the cap for 2021: $5.5 mill in salary, $2.5 mill in prorated signing bonus, and a $500K roster bonus.

So freeing up 3.9 makes his new cap hit $4.6 million this year. Not sure exactly how they would have done that, without greatly reducing his 2021 salary.
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Dave Bryan at the Depot speculates that they turned the $500K roster bonus and all but $1.075M of his salary for this year into a signing bonus. Then added four voidable years. Those moves would clear up $3.94M in cap space this year.
 
SteelBuckeye said:
Dave Bryan at the Depot speculates that they turned the $500K roster bonus and all but $1.075M of his salary for this year into a signing bonus. Then added four voidable years. Those moves would clear up $3.94M in cap space this year.
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That is feasible.

So 5.5 - 1.075 = 4.425 in added signing bonus from reduced salary

4.425 + 0.5 roster bonus = 4.925 carried forward in new deal

4.925 / 5 year deal = .985

1.075 new salary + 2.5 existing prorated signing bonus + .985 in new proration for 1 year = $4.56 million (new 2021 cap hit)

Thus, (.985) x 4 remaining years = $3.94 million in dead cap if Ebron is cut in 2022.
 
So are the voidable years something new? I don't remember seeing them used in years past.
 
stillwright said:
So are the voidable years something new? I don't remember seeing them used in years past.
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nah, we've just been pretty old school with cap tactics.

10.3 dead for ben. 3.94 dead for ebron. 5.6 dead for JuJu. So just about 20million borrowed from 2022 to pay for 2021. But if the cap spikes a lot in 2022 the effect is mitigated. plus you can roll-over whatever we have left at the end of this year.

Plus Heyward pushed slightly more than 7 million forward also, but it didn't use voidable years.
 
stillwright said:
So are the voidable years something new? I don't remember seeing them used in years past.
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Me either. I think so or a new approach for the Steelers one of the two.
 
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