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“Simple” restructuring clears plenty of cap space for Cardinals

Fitz AP

Yes, Cardinals receiver Larry Fitzgerald restructured his contract.  No, he won’t receive a penny less in 2014 than he was supposed to make.

As expected, it’s a so-called “simple” restructuring, according to Kent Somers of the Arizona Republic.  It means that Fitzgerald agreed to convert a large chunk of his 2014 base salary to a signing bonus, which then will be spread over the five remaining years of his current contract.

At a base salary of $12.75 million and a league minimum for a veteran of 10 or more years of service at $955,000, the Cardinals were able to convert up to $11.795 million to a bonus.  Divided by five, that translates to a per-year charge of $2.359 million.  Which bumps $9.436 million to future cap years.  Which drops Fitzgerald’s cap number for 2014 from $18 million to under $9 million.

Of course, that drives up the Fitzgerald cap number by $2.359 million in 2015, 2016, 2017, and 2018.  Which makes 2015 the year of reckoning, when Fitzgerald’s cap number will be $23.6 million.

Which likely means that, come next year, it’ll take more than a simple restructuring to keep Fitzgerald in Arizona.

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25 Responses to ““Simple” restructuring clears plenty of cap space for Cardinals”
  1. bert1913 says: Feb 4, 2014 7:19 PM

    lol, nice try fitz

  2. thegreatgabbert says: Feb 4, 2014 7:19 PM

    Simple for them. I wanted to restructure my gambling debts and the boys they sent offered to restructure my face and knees instead.

  3. kkalama1 says: Feb 4, 2014 7:22 PM

    Hes good, just needs more help from the cardinals organization. Btw do people also find pftpoet and thevikingsarebest users posts to be absolutely hilarious? They make my day when I read their posts

  4. luz56 says: Feb 4, 2014 7:24 PM

    Now 11M under today’s cap number… Going for it all in 2014 because cap hell starts 2015… NFC West is the beast

  5. seatownballers says: Feb 4, 2014 7:28 PM

    Clever move

  6. vikingswillwinitsomeday says: Feb 4, 2014 7:32 PM

    Rest assured, my Vikes will vastly overpay for him when he is 4 years older and 2 steps slower.

  7. beardinals says: Feb 4, 2014 7:33 PM

    Keim doing his best to make the best of Rod Graves’ failures.

  8. realnflmaster says: Feb 4, 2014 7:34 PM

    23.6 million dollar cap hit? Yeah, see ya!

  9. radrntn says: Feb 4, 2014 7:34 PM

    well, they will need all that money for carson palmer, who the raiders paid 8 million to last year as he played in az. Not so simple.

  10. dickshotdogs says: Feb 4, 2014 7:40 PM

    New England.

  11. bobzilla1001 says: Feb 4, 2014 7:51 PM

    So tired of players wanting (and receiving) pats on their backs for getting paid more now rather than later. Restructured contracts only prolong the problems…

  12. stampnhawk says: Feb 4, 2014 7:51 PM

    Mind boggling numbers for 2015.

    Though as a Seahawks fan, hard to talk, as crazy as it sounds, Percy Harvin was almost worth his $11m salary this year with his direct contribution, with the final dagger kick off return, to winning the Super Bowl.

    You can’t put a price on winning that SB. You pay players for expectant performance based on past performance, but ultimately to directly get you to and even more ultimately then win that championship game.

    Not to start a debate but that makes the Romo contract and then $23 mil to Fitz hard to fathom given their resumes and positions.

  13. green41563 says: Feb 4, 2014 8:12 PM

    They’d have been better off cutting him.

    (1) He’ll be 31 before the start of the season;

    (2) He’s had two bad years in a row;

    (3) The Cardinals have no quarterback; and

    (4) He’s already owned a trillion dollars.

    Restructuring just makes the hole deeper.

  14. chawk12thman says: Feb 4, 2014 8:18 PM

    What a great move for this next season. He is a class player/person and wish him well.

    Everyone in the NFC West will be making moves to try to be the best in the West this next season, knowing that it is likely to be the S.B Winner again……….

  15. prideof10000lakes says: Feb 4, 2014 8:49 PM

    So the cards get one more year out of him for cheap and then ship him to Minnesota to help bring us a trophy the first year in our new stadium! Then call it a career and retire with papa fitzy on a nice, clean crisp northern minnesota lake next to joe Mauer.

    Must be rough.

  16. oreo51 says: Feb 4, 2014 8:56 PM

    It is great to see Arizona cap strapped well into the future. The Seahawks thank you.

  17. tjohn25 says: Feb 4, 2014 9:08 PM

    Wow, there’s some real geniuses commenting on here.
    -The Cardinals had a better record this season than the Packers, Chargers, and Eagles.
    -Larry’s numbers this season were better than 3 other years in his career.
    -He holds the single season playoff record for yards by a receiver for anyone trying to question his resume. (What have Andre Johnson, Calvin Johnson, and AJ Green done in the playoffs?)
    -Good, hard-training receivers play until their late 30’s, so he probably has seven good seasons left.
    -The Cardinals aren’t giving him away to any team.

  18. comatrip1 says: Feb 4, 2014 9:08 PM

    It’s garbage that teams can do this. They should have to pay for the contract mistakes they make. This is nonsense.

  19. doe22us says: Feb 4, 2014 9:13 PM

    Proverbial kicking the can down the road…

  20. cri33 says: Feb 4, 2014 10:07 PM

    And soon it will be Seattle’s turn for “restructuring”. They have several free agents and Wilson is due for a raise.

    green41563 ..the Cardinals have no QB so let their best WR go? Yeah sounds like a great plan. If he owned a trillion $$ I doubt very much he would still be playing.

  21. dachozen1 says: Feb 5, 2014 12:18 AM

    I dont get all these people feeling sorry for Fitz. Fitz chose to make as much money as possible and I dont begrudge him for that. However, he knows it will impact their ability to get an “elite” Qb and prevent them from getting help from free agents. His contract(especially for receiver) tie the hands of his team.

  22. osiris33 says: Feb 5, 2014 12:46 AM

    He’s really slowing down. Mistake to keep paying him.

  23. bucjordan says: Feb 5, 2014 7:23 AM

    What most people don’t realize is that the Cards are on the hook for all 5 years of that prorated signing bonus money whether or not Fitz gets cut next offseason. So he’s either going to cripple their cap situation and produce, or go to another team and still cost the team $2.5mil/year of cap space through 2018.

    You never free up cap space without paying for it later.

  24. atkinsandgreenreignsupreme says: Feb 5, 2014 9:14 AM

    Fitz to the Pats for the 2015 season! You heard it here 1st! He’s got 3-4 years left…..

  25. harveyredman says: Feb 5, 2014 2:22 PM

    C’mon, Larry knows only QB’s can count $18M against the cap.

    You got save those elite numbers for the elite “talent” in this league, like: Stafford, Bradford, Ryan, Romo, Cutler, Flacco, etc…

    We all see how an elite QB making $100M is what it’s all about. I mean it’s not like a pretty good QB with a strong defense could ever beat an elite QB or anything…. It is a QB league after all.

    Maybe next year Goodell will make it illegal to break up passes or DB’s will have to let WR run a few yards before they can tackle them,…. all for “player” safety and such.

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