If Cofield can pass a physical, and the Giants haven't addressed the lack of depth behind Hankins another way, Barry could be a good late-spring signing.
The defensive tackle, now a co-captain for the Washingon Redskins, believes Mara spearheaded salary-cap sanctions against the Redskins that resulted in the team negotiating down Cofield’s base salary for this season from $4.05 million to $840,000.
Cofield benefited from that restructure. In exchange for reducing his 2013 salary by $3.21MM, from $4.05 million to $840,000, he received a restructure bonus of at least that amount. (Spotrac shows the extra money to amortize as 4*877.5K=$3.51MM, so he got another $300K somewhere.) Equally important, his 2013 salary wasn't previously guaranteed; the restructure locked in that money.
Barry was pissed about the Executive Committee hamstringing his team; he had nothing to complain about financially. That Daily News piece implying that the grudge was about his own salary is slop. Barry's comment at the time makes that clear: "It doesn’t really change my situation too much. Just some complex math that my agent had to explain to me. So if it frees up money for the team…They don’t do that type of thing for guys they don’t plan on having in the future. It shows some confidence in me and I plan to repay it.”
Here's a much more accurate story that shows an understanding of NFL contracts and the purpose of restructuring.
Quote:
Cofield agreed to reduce his salary to the league minimum for a player of his experience level and converted the difference to bonus money that the team could prorate over the remainder of his contract for cap accounting purposes.... Cofield was to have a salary of $4.05 million this season. Instead, his base salary is reduced to $840,000 and he receives $3.21 million in bonus money. The Redskins can prorate that bonus over the remainder of Cofield’s contract, which runs through the 2016 season. Cofield’s contract now counts about $3.9 million against the Redskins’ salary cap this season instead of $6.3 million.
provided they are happy the injuries are taken care of they can have him back for a good price and was there under spags so should fit the defence quicker than any draft pick would
would free up a draft pick for a LB/OL or DE in the early/middle rounds so worth it for that alone
Link - ( New Window )
Barry was pissed about the Executive Committee hamstringing his team; he had nothing to complain about financially. That Daily News piece implying that the grudge was about his own salary is slop. Barry's comment at the time makes that clear: "It doesn’t really change my situation too much. Just some complex math that my agent had to explain to me. So if it frees up money for the team…They don’t do that type of thing for guys they don’t plan on having in the future. It shows some confidence in me and I plan to repay it.”
Here's a much more accurate story that shows an understanding of NFL contracts and the purpose of restructuring.
Washington Post on Cofield's 2013 restructure - ( New Window )
would free up a draft pick for a LB/OL or DE in the early/middle rounds so worth it for that alone