Hardy signs franchise tender

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On Monday, the annual window for applying the franchise tag closed.  On Tuesday, one of the four tagged players already made his move to embrace the restriction on his ability to hit the market.

Per a league source, Panthers defensive end Greg Hardy has signed his one-year, $13.116 million franchise tender.  Hardy hopes to ultimately parlay the franchise tender into a long-term deal.

The move puts Hardy under contract for 2014, preventing him from flirting with another team and ultimately signing an offer sheet with a team willing to give up two first-round draft picks if the offer isn’t matched.

It also prevents the Panthers from rescinding the tender and forces the Panthers to fund the full amount of the guaranteed salary — and also to carry $13.116 million in Hardy’s name under the salary cap.  The only way the Panthers can now eliminate the $13.116 million cap burden is to trade Hardy.

It’s not unprecedented for teams to rescind a franchise tender after the bulk of free agency has transpired.  The Eagles did it twice during the last decade, to linebacker Jeremiah Trotter and defensive lineman Corey Simon.

From Hardy’s perspective, getting $13.116 million represents a huge payday, especially in light of the fact that he made $2.75 million over the entire four years under his rookie contract.

In signing the tender, Hardy gives up the ability to hold out of training camp without being fined $30,000 per day, since he’s under contract.  By the time training camp opens, however, the July 15 window for signing the franchise player to a long-term deal will have closed.

The real question for Hardy becomes whether he’ll participate in the offseason program without a long-term deal.  Much of it is voluntary, and the only mandatory aspect comes via a three-day minicamp.  Hardy can pay the fairly low fine for not showing up for the lone involuntary camp, if that’s what he thinks he needs to do in order to get the kind of long-term deal he wants.

13 responses to “Hardy signs franchise tender

  1. I always wondered why the players that get tagged don’t do this more often. He just put 13 million in his pocket without question so the fines he’ll get for holding out are irrelevant and once the year comes around he’s signed up for one hell of a pay day and knows he’d be a FA in 2015. He constricts the cap so they are forced to find a way deal with him….in my opinion holding out without signing the tender just gives the team all the power.

  2. I hope the Panthers can work out a long term deal! Glad to have you back this year Mr Hardy!! Let’s make a good run this year at the SB!!

    Prayers for a safe and healthy season! Hope to see you at Wofford College during training camp!!

  3. He’ll show for the involuntary mini camp. That’s Kraken, he’s bought in to Rivera’s system and desires to stay in Charlotte.

    Hopefully the team can get a deal worked out that’s fair for both sides.

  4. When you grow up not having a vast amount of financial wealth you appreciate having a big payday when you work hard for it. Even though he’s been given the franchise tag I like his outlook. It’s more money than he’s EVER seen and its fully guaranteed. That’s the mindset of a good player/businessman. 1 year about $13 million I would sign that contract quick.

  5. I’m also surprised with how averse most players are to the franchise tag. I suppose there is a pretty big risk involved with playing out a one year contract, but there’s also a lot to gain from it (if you don’t have a down year/get hurt.)

    Suppose Hardy signs a 4yr deal at 26 and plays it out in its entirety. By the end of it, he’s not going to get another huge payday, being that he’s getting closer to “the cliff.” That’s a total of 4 years of getting paid like the best.

    If he gets franchised for even one year, he’ll be 27. He’d still be eligible to sign that same 4 year mega deal (provided he plays well/doesn’t get hurt,) but he’ll instead have 5 years of getting paid like the best.

    Make sense to anyone else? I know it’s risky, but pulling a Joe Flacco is so voguish.

  6. For Carolina fans, you have to realize your team needs more pieces…and 13m into 1 player for 1 year is not a good deal. You now have nearly 50% of your CAP into 4 players – 2 of which are on the defensive line.

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