“Simple” restructuring clears plenty of cap space for Cardinals

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.

25 responses to ““Simple” restructuring clears plenty of cap space for Cardinals

  1. 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

  2. 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.

  3. 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…

  4. 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.

  5. 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.

  6. 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……….

  7. 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.

  8. 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.

  9. 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.

  10. 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.

  11. 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.

  12. 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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