Expect at least a couple more surprise cuts

[hawaiiansteel]

Re: Expect at least a couple more surprise cuts

Over salary cap, Steelers may need to release more veterans

Saturday, July 30, 2011
By Ed Bouchette, Pittsburgh Post-Gazette


The Steelers, still way over the salary cap, may have to release more veterans if they are unable to use contract renegotiation tactics in order to come into compliance by the $120 million team salary maximum by Thursday, said Kevin Colbert, their director of football operations.

"We'll do some renegotiations,'' Colbert said, but warned that there "could be further terminations.''

The Steelers the past week released three veterans for salary cap purposes -- tackles Max Starks and Flozell Adams and wide receiver Antwaan Randle El.

Colbert said they will use the three separate $1 million exemptions on three players under contract, essentially raising the cap to slightly more than $123 million.

More details in tomorrow's Pittsburgh Post-Gazette.

Read more: [url="http://www.post-gazette.com/pg/11211/1164129-66.stm#ixzz1TcdQTaMh"]http://www.post-gazette.com/pg/11211/11 ... z1TcdQTaMh[/url]

[feltdizz]

Re: Expect at least a couple more surprise cuts

Ben shouldn't have to restructure his deal. He is worth every penny we pay him.... Smith definitely needs to restructure. I don't have any faith in Keisels assessment of Smith. If his arm is 65% do you think anyone would reveal it given the cap situation?

[Discipline of Steel]

Re: Expect at least a couple more surprise cuts

Id say the Steelers front office know best his condition and they have not yet asked him for a pay cut, so i will go by that for now.

[Chavezz]

Re: Expect at least a couple more surprise cuts

All a ben restructure would entail is converting yearly salary to bonus. That bonus is then spread out over the length of the contract. The only negative is if its a player that declines during the last years of contract and when cut there is dead money that gets accelerated.


Its great for the player because its up front money. There doesn't seem to ne a negative for them at all.all

[flippy]

Re: Expect at least a couple more surprise cuts

Tough decisions for sure.

Steelers should be able to restructure contracts and make things work out. All depends on cash flow really.

[fordfixer]

Re: Expect at least a couple more surprise cuts

Steelers notes: Still over the cap
[url="http://www.timesonline.com/sports/steelers/steelers-notes-still-over-the-cap/article_ea0d2056-18d5-5653-b950-4206b7c74b03.html"]http://www.timesonline.com/sports/steel ... 74b03.html[/url]

Posted: Saturday, July 30, 2011 11:13 pm | Updated: 12:05 am, Sun Jul 31, 2011.

By Mike Bires

LATROBE -- Even by cutting three high-priced veterans, the Steelers are still over the salary cap.

Director of football operations Kevin Colbert wouldn't say exactly how much the Steelers are over. But he said Saturday that "Currently, we're still trying to get in compliance with the cap."

By Thursday, the total of the Steelers' top 51 salaries can't exceed $123 million.

According to terms of the new collective bargaining agreement, the cap number is $120 million per team. But each team is allowed three $1 million exemptions -- one for three different players.

"So in essence the cap is $123 million," Colbert said.

Those three exemptions would be charged to the Steelers' salary cap in 2014. Colbert expects every NFL team to use their exemptions.

"We'll be doing some renegotiating to try to get in compliance," Colbert said. "There still could be some further terminations and there could be some new roster additions."

On Thursday and Friday, the Steelers saved $12.4 million worth of cap space by cutting tackles Max Starks ($5.4 million) and Flozell Adams ($5 million) and wide receiver Antwaan Randle El ($2 million.)

If the Steelers want to sign any free agents -- wide receiver Plaxico Burress, for example -- there would have to be more cuts.

"If we make some significant additions, there still could be some terminations that are required," Colbert said.

One of the players who may have his contract renegotiated is linebacker LaMarr Woodley, who was tagged earlier this year as the Steelers' franchise player. He signed a one-year contract worth $10 million. But if the Steelers sign Woodley to a new multi-year deal, his money would be spread out over the length of his contract. That way, Woodley would be paid less this year and thus give the Steelers some cap relief.

There's also a chance the Steelers could make more cuts, perhaps wide receiver Arnaz Battle, who's due to make $1.038 million for playing only on special teams.

Due to the cap restrictions, the Steelers haven't even begun negotiations for an extension for all-star safety Troy Polamalu, who's in the last year of his existing contract. Polamalu is due to make $6.4 million this year. As it stands right now, he's the third-highest paid player on the team.

Quarterback Ben Roethlisberger has a base salary of $11.6 million. Woodley is due to make $10 million unless he gets a new long-term deal.

"Nothing so far," Polamalu said of any discussions with the Steelers. "I think the lockout changed the way the process works quite a bit."

Sepulveda signed

The Steelers agreed to terms with punter Dan Sepulveda.

An unrestricted free agent, Sepulveda reportedly visited with Houston on Saturday. But late Saturday night, he agreed to stay with the Steelers.

Sepulveda was taken by the Steelers in the fourth round of the 2007 draft. He missed two seasons -- 2008 and 2010 -- with knee injuries. The Steelers made it to the Super Bowl both years.

On Friday, the Steelers got all their 2011 draft choices in the fold by signing first-round pick Cameron Heyward, a defensive end out of Ohio State, and cornerback Curtis Brown, a third-round pick out of Texas.

[Discipline of Steel]

Re: Expect at least a couple more surprise cuts

Sepulveda signed

The Steelers agreed to terms with punter Dan Sepulveda.

An unrestricted free agent, Sepulveda reportedly visited with Houston on Saturday. But late Saturday night, he agreed to stay with the Steelers.

Sepulveda was taken by the Steelers in the fourth round of the 2007 draft. He missed two seasons -- 2008 and 2010 -- with knee injuries. The Steelers made it to the Super Bowl both years.

Interesting nugget nestled in at the end. Sep will have his opportunity to demonstrate recovery from the knee injurieS. Hopefully he will finally live up to his potential. Thank you for your contribution Mr. Kapinos.

[hawaiiansteel]

Re: Expect at least a couple more surprise cuts

posted by Dale Lolley:


Day off for Steelers

Monday, August 1

The Steelers get a day off today but that doesn't mean the front office isn't working.

In addition to working on contract extensions for strong safety Troy Polamalu and linebacker LaMarr Woodley, the Steelers are also looking to re-work quarterback Ben Roethlisberger's deal.

If some of those aren't finished by Wednesday, the team may have to do some more cutting to get under the salary cap by the Thursday deadline.

[url="http://www.observer-reporter.com/or/sidelines/"]http://www.observer-reporter.com/or/sidelines/[/url]

[steeler_fan_in_t.o.]

Re: Expect at least a couple more surprise cuts

Getting back to the OP....cutting Farrior would be a surprise, cutting Foote would not be.

As to many of the rest of the posts on here, many seem to be using the terms restructure or renegotiate improperly.

Restructuring is a good thing for a player and the team in the current year. Asking Ben to restructure would mean that he gets a good chunk of his 2011 salary today as "bonus" instead of "salary" - say about $8M of his $11.60. Ben is signed through 2015, so that bonus is spread out over 5 years. $1.6M of that $8M counts towards this year's cap and the remaining $6.4M is spread out as $1.6M a year over the remainder of the contract. With a restructure you have to identify the right players and target those players who you expect to be around for most or all of their contract.

Cap savings to us of $6.4M this year - Ben gets a nice fat check for $8M on the spot instead of throughout the season - The Steelers have increased their commitment to him over the lifetime of his deal because the added bonus makes it more expensive to cut him in future years. Win, win.

With a player like Smith or Flozell (had they done this instead of releasing him) they simply ask him to accept a lower salary. A bit of a humiliation for an athlete in a business where your worth is measured by the money you make, but usually coming with the idea that the player is no longer worth his salary and would otherwise be cut....but we still would like you to be here.

Then there is cap relief that comes from an extension. Troy or Woodley would fall into this category - especially Woodley who is sitting on a 1 year - $10M franchise tag deal right now. In that case you can even give him a deal in the 5 year, $50M range that would still save us in the $5M range for '11.

In reality, two strokes of a pen gets them another $10M+ off the cap - Ben and Woodley. We might not be able to chase after any more big tickets, but we are not in a position that we must start slashing either.

[feltdizz]

Re: Expect at least a couple more surprise cuts

All a ben restructure would entail is converting yearly salary to bonus. That bonus is then spread out over the length of the contract. The only negative is if its a player that declines during the last years of contract and when cut there is dead money that gets accelerated.


Its great for the player because its up front money. There doesn't seem to ne a negative for them at all.all