Redskins officials reportedly are “furious” (as they should be) about the removal of $36 million in salary cap space. And so it can be said that they’ve chosen both to get mad — and to get even.
Apart from any formal effort to challenge their punishment-without-a-crime, the Redskins are looking for ways to craft new contracts that will help them manage the cap charges in 2012.
With receiver Josh Morgan, for example, a $5.5 million signing bonus on a two-year deal will count only $1.1 million toward the cap in 2012, even though it should have chewed up $2.75 million.
The Redskins pulled it off via a five-year contract that will void to two. It means that, instead of a $2.75 million cap charge in 2012 and 2013, the bonus will count as only $1.1 million in 2012 and, presumably, $1.1 million in 2013, and then $4.4 million in 2014, once the cap penalties are gone and the salary cap shoots up under the new TV deals. (Unless, of course, the league finds two years from now that the Redskins were trying to obtain an unfair competitive balance via a contract the league office approved.)
Morgan also will be paid a fully-guaranteed base salary of $1.8 million in 2012, along with a $200,000 workout bonus. In 2013, he’s due to receive a $3.8 million base salary and a $200,000 workout bonus.
Morgan also is eligible to pocket $250,000 in each year for a Pro Bowl berth.
It adds up to $7.3 million fully guaranteed, $7.5 million that is as a practical matter guaranteed (if he shows up for the workout program), and $11.5 million in two years with another $500,000 available if he makes it to the Pro Bowl in both years.
At an average of $766,000 per reception from 2011, that’s not a bad deal.