Sackem90
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According to Gantt, Jake's deal won't cause us to have to restructure anyone to fit our rooks under the cap for this year:
Easy to manage
Delhomme's extension has benefits in both short, long term
By Darin Gantt The Herald
(Published June 19‚ 2004)
By Darin Gantt
CHARLOTTE -- While the numbers on quarterback Jake Delhomme's contract extension look huge, they're actually easy for the Carolina Panthers to manage for both the long-term and the short-term.
The contract extension Delhomme signed Thursday is worth up to $38 million over the next six years, with $12 million in bonuses.
But he'll make just $1.2 million in base salary the next two years, enabling the Panthers to save salary-cap space and cover themselves in case his production falls off.
Delhomme was scheduled to make $1.37 million in base salary this year, but that was knocked down to $535,000 for the coming season. He'll make $665,000 in salary in 2005.
Delhomme won't have cash-flow problems thanks to the guaranteed bonuses, and spreading them into installments eases the cap burden for the team this year. If all $12 million were given up front as a signing bonus, a $2 million share would count against each year's cap, in addition to that year's salary. Adding option or roster bonuses to be paid next year allows the Panthers to cut down the portion that counts this season.
Delhomme's agent, Rick Smith, said Friday that the entire $12 million would be dispersed between now and March 1, 2005. Smith wouldn't offer more specifics on how much would be paid when, but the fact the sum is split into signing and roster bonuses indicates the cap-friendly nature of the deal.
Panthers general manager Marty Hurney wouldn't comment on the numbers, other than to say the team didn't have to restructure other contracts to fit Delhomme under this year's cap and wouldn't have to restructure others to sign this year's remaining unsigned rookies.
He also said the structure wasn't drastically different from other deals written lately. The six-year, $26.5 million contract signed by wide receiver Steve Smith included a similar two-tiered bonus structure. Smith will be paid $9 million in bonuses over the next two years.
Delhomme's base salary jumps to $4.785 million in 2006. He'll make $6.4 million, $6.19 million and $5.825 million in the final three years of the deal. Those larger salaries allow the Panthers flexibility if they need to restructure the deal later.
Although the ink was barely dry Friday, there was already some grumbling and astonishment in league circles that the Panthers overpaid for a player who had only started two games and thrown 86 passes in six years prior to taking over the job here last season.
But Hurney said the team was happy with the deal, confident that Delhomme would continue to be the kind of player that led them to eight come-from-behind wins and a Super Bowl appearance last year.
"We kind of figured they would," Hurney said when informed others were second-guessing the team's decision. "But we're OK with that."
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>>Sounds good to me since we ALWAYS have to restructure to fit our rookies in every year.
Easy to manage
Delhomme's extension has benefits in both short, long term
By Darin Gantt The Herald
(Published June 19‚ 2004)
By Darin Gantt
CHARLOTTE -- While the numbers on quarterback Jake Delhomme's contract extension look huge, they're actually easy for the Carolina Panthers to manage for both the long-term and the short-term.
The contract extension Delhomme signed Thursday is worth up to $38 million over the next six years, with $12 million in bonuses.
But he'll make just $1.2 million in base salary the next two years, enabling the Panthers to save salary-cap space and cover themselves in case his production falls off.
Delhomme was scheduled to make $1.37 million in base salary this year, but that was knocked down to $535,000 for the coming season. He'll make $665,000 in salary in 2005.
Delhomme won't have cash-flow problems thanks to the guaranteed bonuses, and spreading them into installments eases the cap burden for the team this year. If all $12 million were given up front as a signing bonus, a $2 million share would count against each year's cap, in addition to that year's salary. Adding option or roster bonuses to be paid next year allows the Panthers to cut down the portion that counts this season.
Delhomme's agent, Rick Smith, said Friday that the entire $12 million would be dispersed between now and March 1, 2005. Smith wouldn't offer more specifics on how much would be paid when, but the fact the sum is split into signing and roster bonuses indicates the cap-friendly nature of the deal.
Panthers general manager Marty Hurney wouldn't comment on the numbers, other than to say the team didn't have to restructure other contracts to fit Delhomme under this year's cap and wouldn't have to restructure others to sign this year's remaining unsigned rookies.
He also said the structure wasn't drastically different from other deals written lately. The six-year, $26.5 million contract signed by wide receiver Steve Smith included a similar two-tiered bonus structure. Smith will be paid $9 million in bonuses over the next two years.
Delhomme's base salary jumps to $4.785 million in 2006. He'll make $6.4 million, $6.19 million and $5.825 million in the final three years of the deal. Those larger salaries allow the Panthers flexibility if they need to restructure the deal later.
Although the ink was barely dry Friday, there was already some grumbling and astonishment in league circles that the Panthers overpaid for a player who had only started two games and thrown 86 passes in six years prior to taking over the job here last season.
But Hurney said the team was happy with the deal, confident that Delhomme would continue to be the kind of player that led them to eight come-from-behind wins and a Super Bowl appearance last year.
"We kind of figured they would," Hurney said when informed others were second-guessing the team's decision. "But we're OK with that."
[email protected]
>>Sounds good to me since we ALWAYS have to restructure to fit our rookies in every year.
