Mr. P Posted March 8, 2012 Share Posted March 8, 2012 The Giants were reportedly $8 million or so over the salary cap and needed to get down by the start of the league year this coming Tuesday, so it was likely players like Brandon Jacobs would have to take a pay cut or get cut. One other option was to do a simple restructuring of a big contract. The team has done just that with Eli Manning. Per NFL Players Association records, the Giants guaranteed $9 million of Manning's $10.75-million base salary for the 2012 season, which allows the team to spread the cap hit over the remaining four years of his contract. Manning's new base salary is $1.75 million. Manning's 2012 cap number shrunk from $16.35 million to $9.6 million, saving the Giants $6.75 million on this year's cap. The move doesn't hurt Manning at all. In fact, it only helps him. He gets that $9 million right now, as opposed to waiting for the season. Plus, it was previously non-guaranteed money, so there was a chance he wouldn't have gotten it. Because, you know, he might've gotten cut before the season began..................... ........moving on........ While Manning's cap number grew smaller this season, the numbers for the next three years grew by $2.25 million each. A look at his cap numbers: 2013: $20.85m (was $18.6m) 2014: $20.4m (was $18.15) 2015: $19.75 (was $17.5) * * * * Also, NFLPA records show the Giants have re-signed both of their exclusive rights free agents: TE Jake Ballard and CB Bruce Johnson. Once they tendered those players, they had no choice but to come back to the team. The Giants are hopeful Ballard, coming off ACL surgery, can play at least part of next season. Johnson is working his way back from a torn Achilles tendon suffered in training camp last summer. http://www.nj.com/giants/index.ssf/2012/03/giants_eli_manning_restructure.html?utm_source=twitterfeed&utm_medium=twitter&utm_term=%23nyg Link to comment Share on other sites More sharing options...
Allstarjim Posted March 8, 2012 Share Posted March 8, 2012 Good stuff. But doing some quick estimation, that means they are still over a little, right? I suppose with the Jacobs cut, they will be under. But they still have to clear much more room because they have to sign all their picks and still be able to field a 53 man roster. Link to comment Share on other sites More sharing options...
BlueInCanada Posted March 8, 2012 Share Posted March 8, 2012 Oh, he ONLY gets 9 million right now. Poor Eli. Link to comment Share on other sites More sharing options...
BIGBLUE01 Posted March 8, 2012 Share Posted March 8, 2012 Eli......I FUCKIN LOVE YOU Link to comment Share on other sites More sharing options...
Nas Posted March 8, 2012 Share Posted March 8, 2012 Does this mean Eli costs the the team a little bit more than 3rd of the cap for the entire team? Good move now.. but it will bite over the next 3 years. Link to comment Share on other sites More sharing options...
Mr. P Posted March 8, 2012 Author Share Posted March 8, 2012 Eli's restructure doesn't kill the Giants in future years. It adds $2.25M to his cap number in each of the next three seasons. That's all. https://twitter.com/#!/TheBlueScreen Link to comment Share on other sites More sharing options...
gmenroc Posted March 8, 2012 Share Posted March 8, 2012 About that time, we extend him to the end of his playing days, give him more guaranteed money, and we all can ride off into the cap friendly sunset...hopefully with a few more rings. Link to comment Share on other sites More sharing options...
Zelmo Posted March 8, 2012 Share Posted March 8, 2012 Essentially what happened here, from the technical salary cap perspective of it, is Eli agreed to restructure his contract so that he only makes 1.75 million this year. The incentive to do such a restructuring is a nine million dollar signing bonus (this is obviously a misnomer, as Eli was due to make this money this year anyway), which is paid to Eli up front, and counts against the cap, but the cap hit is defrayed equally over the remaining years of the contract, hence the 2.25 million dollar figure over the remaining four years. So this works for everyone...Eli gets paid exactly what he was going to get paid anyway, and the Giants get to take nine million dollars of cap hit money and soften the hit over four years instead of taking it all in one. The Jets just did this exact thing with D'Brickashaw Ferguson (however you spell it)....the only real downside of such a move is in the event you must release or trade the player, in which case the cap hit of the bonus money all gets accelerated into one year. Absolutely don't mean to jinx anything, but there is very little reason to think or worry that Eli will not play out his contract here. -Z Link to comment Share on other sites More sharing options...
Lughead Posted March 8, 2012 Share Posted March 8, 2012 CAP HITS Link to comment Share on other sites More sharing options...
gmenroc Posted March 8, 2012 Share Posted March 8, 2012 CAP HITS Hixon still showing as UFA though he resigned....yet Eli's numbers are updated. Link to comment Share on other sites More sharing options...
Lughead Posted March 8, 2012 Share Posted March 8, 2012 Hixon still showing as UFA though he resigned....yet Eli's numbers are updated. yeah kinda odd. I emailed them to let them know. Link to comment Share on other sites More sharing options...
Lughead Posted March 8, 2012 Share Posted March 8, 2012 Hixon still showing as UFA though he resigned....yet Eli's numbers are updated. Updated. Link to comment Share on other sites More sharing options...
Lughead Posted March 8, 2012 Share Posted March 8, 2012 I realy can't believe Chad Jones is making more than Victor Cruz. Link to comment Share on other sites More sharing options...
Storm Posted March 8, 2012 Share Posted March 8, 2012 I realy can't believe Chad Jones is making more than Victor Cruz. Uh, why's that hard to believe? Chad Jones was a 3rd rounder, Cruz undrafted. They are young players that are still in their rookie contracts, lol. Link to comment Share on other sites More sharing options...
Lughead Posted March 8, 2012 Share Posted March 8, 2012 I believe the Giants are now about 3.7 mill under the cap. Link to comment Share on other sites More sharing options...
Lughead Posted March 8, 2012 Share Posted March 8, 2012 Uh, why's that hard to believe? Chad Jones was a 3rd rounder, Cruz undrafted. They are young players that are still in their rookie contracts, lol. I am just looking at the way things played out for both players in retrospect. Link to comment Share on other sites More sharing options...
NightFire Posted March 9, 2012 Share Posted March 9, 2012 Good stuff. But doing some quick estimation, that means they are still over a little, right? I suppose with the Jacobs cut, they will be under. But they still have to clear much more room because they have to sign all their picks and still be able to field a 53 man roster. Seems to be a Giant delemma every season. At least this year they are drafting at the bottom of the order. Should help save some money. Link to comment Share on other sites More sharing options...
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