•Good evening everyone. I'm going to list an estimate of the top 51 player CAP HITS for the Giants as of this time (with an amendment to include what is most likely Boothe's cap number after re-signing today).
•In the offseason, the "Top 51" rule is in effect, in which the cap hits for the top 51 players is all that counts against the cap.
•Here's a good article that previously linked here that explains this rule as well as other salary cap basics:
"Durkin: Explaining The NFL’s Salary Cap" by Dan Durkin | February 18, 2013 3:15 PM
•Without further ado, here are the numbers--meaning Cap Hits--for the top 51 salaries on the team; I'll explain the numbers in the space below this table.
•Here is an offical list of the Giants players (BBI, of course, also has this):
Giants' current roster according to Giants.com
Source:
New York Giants 2013 Salary Cap courtesy of overthecap.com
•The total of the top 51 Cap numbers, as indicated above, is
$116,237,526.
•I included the CAP NUMBERS for David Carr, and the two Exclusive Rights Free Agents (ERFAs) who have not yet signed their tenders: Adrian Tracy and Jim Cordle (the thir ERFA, Justin Trattou already signed his).
•I went to spotrac.com and retrieved their expected tender salaries listed in the chart below ($555 K for Cordle and $480 K for Tracy).
•They might be wrong, but they're still very close (they're either going to be $480 K or $555 K), but I wanted to add them in here since they count nonetheless.
•Justin Trattou is the only ERFA who signed his tender, and he is set to count $480 K against the 2013 cap.
.
.
.
.
•I didn't include the Cap # for Boothe, which is unknown now, but I do have a strong of what I think it is for him.
•I tweeted the beat writers, and they thought my guess of the vet minimum for Boothe was good.
•Boothe has 7 accrued years, so he would stand to earn $840 K in salary, but only count $550 K against the salary cap.
•The Giants probably gave him a bonus---I'd expect it to be a $65 K bonus, which is the most that a player can receive and still be counted towards the reduced salary cap benefit of $555 K.
•I'll account for Boothe's money ($620 K cap hit) after I explain everything else.
•Here's the vet minimum table again:
Sources:
I.
http://profootballtalk.nbcsports.com/2011/07/25/minimum-salaries-shoot-up-under-new-deal/
II.
http://www.steelersdepot.com/2011/07/2011-2014-nfl-minimum-base-salaries/
.
.
.
.
•At this point you take the Dead Money, listed below, and add it to the
$116,237,526 figure listed above.
•When you do that, you get
$122,974,608, as indicated in the table below the Dead Money, where all the math is detailed.
Source:
Giants' Dead Money against the 2013 salary cap courtesy of overthecap.com (scroll to the bottom)
•On a side note, approximately 5.5% of the Giants' cap consists of Dead Money.
.
.
.
.
•You subtract the amount of
$122,974,608 from the salary cap limit of $123 million, and you get
$25,392.
•To this total that the Giants first appear to be under the cap by, you add the carryover money from the previous year's cap, which in the Giants' case is
$1 million.
•After you add these two figures, as indicated below, you get
$1,025,392.
•From the
$1,025,392 figure you subtract $504,000 due to the accrual of workout bonuses once the new league year starts, which in this year's case was 13 days ago, on March 12th.
•When you do this, you get
$521,392, as displayed above.
•Now to account for Boothe, I simply slide in his anticipated CAP HIT of $620 K into the top 51 CAP HIT numbers, and subtract the DIFFERENCE from the 51st slot that is displaced, which in this instance is $480,500; this number works out to be as follows:
$620,000 - $480,500 = $139,500
•You simply subtract $139,500 from $521,392 to get the updated Cap number for the Giants after Boothe's signing, which turns out to be
$381,892.
.
.
.
.
•For anyone who's interested, the Giants currently have 76 players signed to the roster.
•Here are the cap hits for the remaining 24 players on the roster:
•The total cap hit for these players DOES NOT count towards the cap.
•As can be seen, these players' CAP HITS are either at or near the league minimum salary (see chart for NFL League minimum salaries for reference above).
.
.
.
.
•These numbers are in constant flux with free agency going on, but with it calming down a bit, I figured now is a good time to provide a more thorough breakdown of the Giants' salary cap situation.
•Expect more changes to come of course (Diehl's paycut will be coming eventually).
•Enjoy.
The Rookie Pool money is not needed yet, but when it is, DD's saved money will help. The Giants are still not done with FA, so they can continue to make prudent signings in free agency, like they have so far. There's probably not much left, but it will not be surprising to see another signing or two, particularly at OLB.
None would make any of that if they were an UFA
Then you have Dead Money and Cap savings if a player is cut to consider. I left all this out, and concentrated on the category that counts when adding up the cap--the Cap Hit--so as to keep things simpler from a visual standpoint. That's what the simplified Excel sheet screen shots seen above are for.
diehl doesnt seem like the deceiving type, so he might be telling the truth the giants havent approached him about anything. But seriously now
Random observations:
Snee is overpaid -- but if he returns to form, not so much.
Rolle is overpaid at $9.25m. But I could live with $6m for him
Diehl is way overpaid at $6.9m.
Hynoski is underpaid.
Source: http://overthecap.com/rookie-pool-estimate.php
__________________________________________________________
•Here's the pick-by-pick breakdown, courtesy of overthecap.com:
Source: http://www.overthecap.com/rookiepool.php?Team=Giants
rasbutant : 7:23 am
is because they have been restructured, in some cases multiple times. This is why restructures are bad, at some point you have to pay for it.
robbieballs2003 : 7:31 am
Weird question but how do you get those sort buttons at the top of each column in your excel spreadsheet? I've tried and I could only do it with macros. Thanks.
•As DelBlue91 said in his 8:15 am post, I just set a filter on the rows across.
•I used the 2010 version of MS Excel, while staying on the Home Tab, I clicked on the "Format as Table" icon, in the Styles subsection up top.
•After that I just selected the filter with the color of the row you see.
•I couldn't find colors that exactly fit the Giants like I wanted, so I found what looked to fit closest.
Example: Position (QB, RB, WR, TE, K, DEF) then by NAME from A to Z. Obviously you can tell this is for fantasy football.
•I'm going to write something up about voidable years, since that is a technique that teams are using nowadays (see C-Web) to deal with players on the last years of their deals, or by signing players while creating cap flexibility going forward (see Brandon Myers).
•I haven't gotten to writing up the piece that I said that I would about the June 1st rule yet; I'm going to get to that soon as well.
•Here is a little preview:
•The June 1st designation and the voidable year share some important traits.
•I like to characterize the June 1st rule as being for "cap slackers", (see the Raiders and Cowboys) and the voidable year contracts as being for well-prepared students.
•The Raiders get somewhat of a pass, only because Reggie McKenzie is still busy cleaning up Al Davis's mess (like how Donnie Walsh cleaned up Isiah Thomas's mess with the Knicks a few years ago, to make a cross sports analogy).
•I'll continue this another time, hopefully very soon.
2. Yes, the Giants can replace Stevie Brown's 1 year contract with a longer term deal that lowers his 2013 cap number.
3. The Rookie Pool Estimates shows that the Giants need $5M in cap space for their draft picks. That's not entirely correct, since they really only require the difference between those players and the player they are replacing in the Top 51. Looking at the list of the top 51, the lowest cap hit is $480k, which is greater than the projected cap hits for draft picks 5 through 7. So those 4 draft picks will not count in the top 51 and you can subtract there 2013 cap hits from the rookie pool total. That lowers the cap room required for the rookie pool to ~$3.3M.
Next you can compare the 1st 4 rd picks and their combined projected cap hits vs the cap hits for the 4 players they'd replace in the top 51. The difference there is ~$1.3M which is the amount of additional cap space the Giants will need to sign their draft picks.
Or you could also just add a separate column and put in a preferred sort order there. You could use a nested if statement, IE IF(A2="QB",1,(IF(A2='RB',2,(IF(A2='K',7,0))))). You could also create a list elsewhere in the file and do a vlookup to pull back the sort order value.
2. As of now, the Giants could create enough cap room to sign Cruz and cover the rookie pool simply by cutting Diehl (or forcing a paycut). That would also possibly give them enough wiggle room to avoid other restructures when they need to start counting everyone towards the cap.
Guys that went to pro bowls 2-3 years ago are going to have big cap numbers today. That's life in the NFL. The Giants are not the lone team out there with fading stars making lots of loot. Matter of fact, every team deals with this with maybe 1-2 exceptions and those 1-2 exceptions, the Niners and maybe Seattle will join the ranks soon enough.
Miles Austin (they keep restructuring...over 10 mil in dead money)
Jay Ratlif (didn't he get cut?)
Doug Free (over 10 mil)
Anthony Spencer (over 10 mil)
I'm not glad that NY has all this money tied up in some fading talent but just about every one of those big cap hits is tied up to a guy with one year left on his deal. That's a good thing.
Our cap situation is not bad at all.
•Sheet 1 has salaries 1 through 51 (sans K. Boothe).
•Sheet 2 has the rest of the salaries that don't count towards the cap.
•Including Boothe, the Giants currently have 76 players signed to the roster.
I think if he gets injured in training camp, then he would only count a smaller amount towards the cap. I think it would only be his $35,000 workout bonus which would count. I could be wrong, but I think the contract works somewhere along those lines. The Giants protected themselves, that much I remember, even if the details are a little foggy.
It'a hard to believe, to fathom, that Boothe, who made 1.5 mil last year, was one of the few bright spots in the OL, will sign for veteran minimum? That's a 50 % paycut....we reward Beatty for one freakin' season....we overpay Bass and Snee, and we ask Boothe, probably the most consistent OLman last year, to take a 50% pay cut?
Looking at Snee's cap hit this year makes me want to puke.
It should have been reduced a year ago. I'd offer him a cut or the road. Yes, I know he was voted to the pro-bowl again. So was that fat bastid, Sapp, 10 years after he was any good.
I guess you can look at it a couple of ways: maybe Boothe is worse than we think he is; or maybe in 2013 a guy can be pretty good and still not attract more than a one-year deal at veteran minimum. The second interpretation could bode well for some of Reese's other bargain basement signings.
What were the cap ramifications for cutting DD as opposed to him taking this paycut now down to 1 million for 2013?
Just curious
•As it stands, the Giants saved $3,475,000 on account of Diehl's restructured deal (sounds mellifluous, lol).
•The difference between the two is $1,350,000.
•The difference between cutting Diehl and keeping him on the team for insurance and/or back-up purposes is essentially that amount of $1,350,000.
*Source:
http://www.overthecap.com/cap.php?Name=David%20Diehl&Position=RT&Team=Giants
•Remember this: the cap number is equal to the base salary + the bonuses.
•If I add the base salary of $1 M to the bonuses listed above, I get a cap number of $3,428,125.
•That's a difference of $3,475,000 from the old cap number of $6,903,125.
Ralph reported it too: "Diehl's new deal includes massive pay cut" by Ralph Vacchiano | March 26, 2013 6:47 PM
•The Giants have 76 players currently signed to the roster as of tonight.
•These numbers include adjustments made with respect to yesterday's re-signing of Boothe and today's announcement of a restructured deal for Diehl.
•Here they are:
.
.
.
.
.
.
.
.
•Here is the explanation of the math done to arrive at the Giants' cap number as of this time:
•As can be seen, the Giants are $3,856,892 under the cap.
.
.
.
.
•Here are the CAP NUMBERS for players 52 through 76 on the roster.
•As previously stated, these players do not currently count against the salary cap.
.
.
.
.
•Once the regular season begins, the players on the 53-man roster all count towards the cap as well as the players on the practice squad, which will account for approximately another $1.5 to $2 million.
•The Giants will also need to make room in case of an emergency/emergencies; this is sometimes called "fudge money".
•1 or 2 million dollars at the end of the roster is typically an amount that teams like to leave for breathing room in case it is needed.
•There is also money needed in case players go on IR (another million bucks).
•In all, the Giants would still need $3.5 to $5 million of cap money to account for those contingencies mentioned above.
•Right now, the Giants have enough room to continue to make shrewd FA signings, and sign most of their draft picks.
•I wouldn't be surprised to see another contractual adjustment made---possibly an extension for Eli.
•That's all for now folks--Enjoy.