Taysom Hill creates $7.75 million in cap space with restructuring

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With Drew Brees finally retired, the Saints can get to work on their post-Brees quarterback plan.

Step one: Sign Taysom Hill to a new contract that isn’t really a new contract.

The carefully crafted initial tweet from Adam Schefter of ESPN says that the “[d]etails are great,” and that it’s a four-year $140 million extension. Although Schefter can perhaps find some plausible deniability in the precise meaning of “great,” it’s all fake and it’s all phony. The restructuring is a device for creating 2021 cap space, and nothing more.

The four-year extension, which pays out $35 million per year, is fully voidable. Schefter eventually mentions that, but there will be a percentage of media and fans who fail to fully understand what’s happening; based on his initial tweet, some will think the Saints are paying Hill $35 million per year when they most definitely aren’t.

Per a source with knowledge of the situation, Hill simply gets the $12.159 million he was supposed to earn this year. The addition of the four phony years, regardless of fake salaries, allows for the creation of $7.75 million in cap space.

As the source explained it when asked point blank what Hill gets, Hill gets what he was due to get in fully-guaranteed fashion. Indirectly, he gets the benefit of extra cap dollars for a team desperate both to comply with the cap and to have enough space to maneuver.

He will never get $140 million over four years under this deal. Presumably, the Saints could have picked any number they wanted. The number chosen, coupled with the carefully reckless way the numbers initially were presented, will result in some mistakenly thinking that Hill is getting paid obscenely more than he is.

41 responses to “Taysom Hill creates $7.75 million in cap space with restructuring

  1. Loomis 100% put 140 million in there just for all the loser salary cap “experts” online (cough Geoff Schwartz) who continually whine about how much Taysom is paid.

    Expert troll job.

  2. This is the kind of “accounting” that should be banned, the phony years voidable and non guarannteed contracts are just too easy for teams to slink through loopholes to “comply” with the cap- either it’s areal cap or it’s not take out the slithery language

  3. This stuff is getting a little ridiculous. Can we just sign Kirk to a 20 year contract and make 19 of the years voidable so his cap hit is only a couple mil?

  4. The same guy New Orleans front office wanted two first round draft picks for a couple years ago? What a joke that was.

  5. Lol this is the same type of deal Brady signed. One was praised and one being called phoney-baloney.

  6. Yeah…sometimes tells me this whole “voidable years” mechanic is gonna go away in the near future.

  7. kevines255 says:
    March 14, 2021 at 5:58 pm
    This stuff is getting a little ridiculous. Can we just sign Kirk to a 20 year contract and make 19 of the years voidable so his cap hit is only a couple mil?


    Kirk Cousins is just a garbage time stat QB, Kirk only wins against the poorer defenses in the NFL and is a loser in games won. Kirk Cousins is a career .500 (51-51-2. Kirk Cousins has just one winning season and one playoff win. Kirk Cousins is a cash cow! Stat doesn’t play in January…

  8. The only benefit I see for Hill is he gets to be a free agent after this season to see what he can get in the marketplace.

  9. The NFL should have just left the cap at last year’s amount instead of making teams go through this dog and pony show of contract restructures where everyone ends up with the same amount of money

  10. So he signed the same contract extension as Brady except this is the one that’s fake and phony. Got it.

  11. Dont hate the player (team) hate the game. I agree with most of the above posters in that this “practice” should be and will be gone soon with a new rule to come banning such moves on the cap. But I applaud the teams that hire top notch cap savvy lawyers to find loop holes in the writing of the rules to exploit them. Still think Hill isn’t a starting QB in this league though…gadget player at best who should be a good TE/ H-back.

  12. If this is what the Saints think they need to do to be competitive, the future doesn’t look too promising.

  13. Trashing Kirk Cousins? Well, he sent Drew Bees home from the playoffs in 2019, so just remember that. You’re right tho, just another trash defense the Vikings played…

  14. Anyone else think the players association should not allow a multi year contract to be fully voidible??
    I bet the league puts an end to that and should start by voiding the contract.

  15. mantastic54 says:
    March 14, 2021 at 6:53 pm
    The NFL should have just left the cap at last year’s amount instead of making teams go through this dog and pony show of contract restructures where everyone ends up with the same amount of money—————————————————

    You never made a truer comment! The NFL has shown consistent year-over-year growth in national revenue, with Sportico reporting an 8-percent jump from 2018 to 2019. When other businesses would have been jumping for joy the NFL cut their team’s ability to keep key players and the ability to improve their rosters. The Salary Cap cut will hurt the on-field proformance in 2021.

  16. Silliness. It’s like when the NBA had way too many rounds in the draft. The GM would draft his mother, or his mailman in the later rounds. A lot of teams just went home. They will put a stop to these voidable years probably next year.

  17. Eventually the dead money hits the cap once the player is gone. If a team wants to borrow from the future to win now, I don’t really have a problem with it.

    For example, Brady’s dead money is a big reason why the patriots couldn’t spend last year. Now the dead money is off the cap and they can spend.

    If the saints void those 3 years, they’re looking at 3 years of dead money from the “signing bonus” but hill would actually count more if he stays on the team with a salary of 35 million.

    So next season, the saints decide if he’s worth 35 million or they cut him.

  18. Imagine how upset all the people who complain when a player who outplays their deal and wants a restructure should honor a contract they sign will be when the Saints (and every other team with a ton of their players) don’t honor the deals they sign. The outrage!

  19. harnessb1tch says:
    March 14, 2021 at 7:16 pm
    Only the Aints and the Pats would get away with this garbage.


    “Study the rule book”

    – T. Brady

  20. This is what’s called a loophole… If you understand Contract Law it’s a body of law that governs, enforces, and interprets agreements related to an exchange of goods, services, properties, or money. In the interpretation, the contract can have interpreted agreements that are legally binding as long as both parties agree on how the contract is structured. The way that the contract is written the restructure benefits both parties because it allows the NFL to restructure the contract to adjust how the dollar figures is paid out and the amount, it gives the player the ability to receive more up from money (guarantee money) in the form of a signing bonus.
    In other words, the yearly salary is converted into a signing bonus. NFL and the NFLPA It benefits

  21. I hope Taysom hill outperforms expectations, and then doesnt rework the voidable years. Time for a huge Payday!

  22. This is not new, just new for the NFL. Actually started in the NHL around ‘05 or so when the Red Wings signed Zetterberg, Datsyuk, Franzen and a lot of our core stats to 8-10 year contracts just to skew the cap hit. A few other franchises did similarly but the practice became banned because it was creative accounting basically since end years were never ever going to be realized. Hysterical the NFL is now doing the same. I presumed this was banned otherwise why in the HELL did no one do it before now when they were slammed against the cap???
    Anyways, may have been from some other sport before that but NHL mid 2000s it was in use.

  23. mahomie says:
    March 14, 2021 at 6:26 pm
    I’m very confused about this.


    Its all about how payments are calculated against the cap. Salary, roster bonuses, workout bonuses, and incentives count against the cap the year they are earned. Signing bonuses count against the cap evenly over the life of the contract. A player who has a salary of $15 million can sign a 3 year “extension” with $2 million in Salary and the other $13 million in a signing bonus. His cap number would go from $15 this year to $6.34 million. If the contract voids the next year the left over money from the signing bonus counts either in total that year or half the next two years, know as dead cap.

    The player earns the same amount but the cap hit is adjusted over years. Most contracts have this kind of scenario built in.

  24. I’ve got nothing against the Saints but to me, who’s in no way an expert in cap figures, this doesn’t seem to comply in any way with the spirit of the salary cap. Or does it? I’m confused.

  25. acemagee45 says:
    March 14, 2021 at 6:24 pm
    Lol this is the same type of deal Brady signed. One was praised and one being called phoney-baloney.
    Not even the same thing because:

    1) Brady actually deserves it
    2) Brady can actually play out the deal

  26. These teams are using loopholes to get away with nurder. What a joke. The saints shouodnt have been able to field a competitive team this year 70m over the cap.

  27. The Saints have been among my list favorite teams for a lot of years, but this is way “over-the-top”. I guess you have to give them credit for finding and flaunting a loophole in the system but the NFL needs to close this loophole quickly. Plain and simple is not fair, mainly to the player involved. I realize he signed it, and something can be said for his “devotion” to his team for letting them use him like this, but it is something the NFL needs to put a stop to.

  28. acemagee45 says:
    Lol this is the same type of deal Brady signed. One was praised and one being called phoney-baloney.
    Brady is getting paid 26M this year, and 24 next year.

    I think Brady’s deal was just confusion based on most of his signing bonus being paid next year. Because people thought all of his signing bonus was paid this year, they thought he was getting paid $41M this year.

    The reality is that he is being paid 15M of that bonus next year, which means 26M this year, and 24M next year.

  29. This is why I prefer how other sports handle contracts where you actually know what guys are making and if teams screw up they have to find a way to get out of the mess they created.

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