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Eagles Cap Situation

mcnabb7542

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After further looking into our Cap Situation ... the situation is no where near as dire as it seems on the surface. Yes, right "now" we are over the Cap ... even with the spike in the Cap number we are still 12.6 million over the cap at this moment in time. HOWEVER ... this is just a temporary cloud as by the time Free Agency opens up, we will be just fine and have plenty of available funds to extend our own players and even bring in a few UFA's as well. Below is a summary of how we can work things out:

Currently 12.6 over the cap
  1. How to open up Space
Not picking up Foles Option or Tag and Trade
  • Saves 20 Million either way

Releasing Peters

  • Saves 8 million

Peters retiring

  • Saves around 10.5

Opt out of Jernigan Contract (could re-sign for 1 year 5 mil prove-health year)


** Jernigan's entire contract is now voidable without any hit to the Cap

  • Saves 13 million if the Eagles completely opt out

  • Saves 8 mil if re-signed to a 1 year prove-health 5 mil contract

Release or trade Nelson Agholor

  • Saves around 9.4 mil

Extend Agholor (more likely)

  • Can save around 5 mil in 2019 with a low cap hit year 1 of a new deal.

Chris Long likely retiring

  • Saves 5.5 million

Restructure Malcolm Jenkins

  • Saves 5.3 million


Total Saved 51.8 by

Losing: Peters, Long and Foles

Rework or extend: Jernigan, Agholor, Jenkins



  1. 51.8 Saved minus 12.8 that we are over = 39 under the cap
Around 8 mil needed for draft picks subtracted from the 39 mil under under = 31 mil for free agency.


Yet more options if needed

Cutting Rodney McLeod would save over 5 mil

Cutting Stefen Wisniewski would save 3 mil, but with Brooks injury we may have to keep.



That's and extra 8 we can open up which would put us at 39 mil under for free agents. Obviously though the more players we release, the more players we need to replace.


Well done @Rey !
 

Taz

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Great Job Rey! I would say the only other thing to add would be Jeffrey has a 11 mill guaranteed salary which they could turn into a roster bonus and save another 7-8 million.

The whole jist of this is they can do anything they want to do.
 

Rey

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With Foles not tagged: Savings 20 mil
With Jernigan option not picked up: Savings 13 million (super deep DL Draft class)
With Agholor traded or released: Savings 9.3 million (super deep WR draft class)

So around a savings of over 42 million in Cap Space with these 3 moves.
 

Teddyg

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No that’s not accurate, while Jernigan cap hit is $13mil, he would have a dead cap hit of $6mil so net savings for cap is $7mil...spotrac.com is good website for all salary cap info...
 

mall3013

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No that’s not accurate, while Jernigan cap hit is $13mil, he would have a dead cap hit of $6mil so net savings for cap is $7mil...spotrac.com is good website for all salary cap info...
:yo:hey there! Welcome to the Eagles board.
 

Rey

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No that’s not accurate, while Jernigan cap hit is $13mil, he would have a dead cap hit of $6mil so net savings for cap is $7mil...spotrac.com is good website for all salary cap info...

Report: Eagles not expected to pick up option for Tim Jernigan

"The Philadelphia Eagles are not expected to pick up the 2019 option on Tim Jernigan, per a report from NBC's Pro Football Talk. Jernigan has a $13 million cap hit ($11 million which is guaranteed) on March 13, the first day of the new league year. Philadelphia would save $13 million in cap space with the move.


Philadelphia reworked Jernigan's four-year, $48 million deal he signed last November, but the Eagles are no longer responsible for the final three years of the contract, including the $11 million guaranteed in 2019.

Jernigan was originally owed $35 million after the 2018 season as part of the four-year extension, but the 2019 through 2021 seasons are now option years. The Eagles can not pick up Jernigan's 2019 option and save $13 million in cap space in 2019. Philadelphia basically has an out in Jernigan's contract."

Defensive tackle Tim Jernigan heads the list, thanks to a back injury suffered away from the premises last offseason that, per rules of the collective bargaining agreement, gave the team the right to void the remainder of the guaranteed money in his contract without having to take the corresponding dead-money hit on the cap.
 
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SteelersPride

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Clearing up Timmy Jernigan's contract situation
If the Eagles pick up Jernigan's option...
• He will be on the Eagles' cap in 2019 at $13 million. That would be $11 million in salary, plus a $2 million signing bonus proration.

If they don't pick up Jernigan's option...
• The Eagles will on the hook for the aforementioned $2 million signing bonus proration in 2019, plus $2 million each in 2020 and 2021, which would both accelerate into 2019. That would mean a dead money charge of $6 million.

The Eagles' total savings in 2019 would be $7 million.

• Jernigan would count toward the compensatory pick formula, because the guarantees were removed, and the option was added. (In other words, they would be choosing not to exercise an option, as opposed to releasing him, the latter of which would negate his inclusion in the comp pick formula.)

It is extremely unlikely that the Eagles are going to pick up Jernigan's option. They will almost certainly either decline the option with Jernigan walking in free agency, or they will renegotiate a new deal with him, if Jernigan is open to a substantial pay cut. The most likely outcome is that the Eagles will simply decline the option, and Jernigan will walk.
 

Rey

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Yeah, I've seen different reports on different sites ... originally I had seen the savings at 7 million then other sites have the pro-rated SB nullified which would open 13 million instead of the 7 mil. Either way I see Jernigan gone and the Eagles looking at his replacement in the draft.
 

Orlando Eagles

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Clearing up Timmy Jernigan's contract situation
If the Eagles pick up Jernigan's option...
• He will be on the Eagles' cap in 2019 at $13 million. That would be $11 million in salary, plus a $2 million signing bonus proration.

If they don't pick up Jernigan's option...
• The Eagles will on the hook for the aforementioned $2 million signing bonus proration in 2019, plus $2 million each in 2020 and 2021, which would both accelerate into 2019. That would mean a dead money charge of $6 million.

The Eagles' total savings in 2019 would be $7 million.

• Jernigan would count toward the compensatory pick formula, because the guarantees were removed, and the option was added. (In other words, they would be choosing not to exercise an option, as opposed to releasing him, the latter of which would negate his inclusion in the comp pick formula.)

It is extremely unlikely that the Eagles are going to pick up Jernigan's option. They will almost certainly either decline the option with Jernigan walking in free agency, or they will renegotiate a new deal with him, if Jernigan is open to a substantial pay cut. The most likely outcome is that the Eagles will simply decline the option, and Jernigan will walk.

Well laid out! Thanks!

Before all this number talk (well, the full breakout anyway) I was leery of letting Jernigan go. But I totally get it now. Hopefully he will find a way back at a more reasonable number.
 

old duke

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Whether or not Jernigan stays, we need to draft a DT that can stay healthy. One who is stout, and has a decent pass rush. Cox gets double teamed too much.
 

Taddy Mason

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Graham will be coming back, will probably see the numbers later.

 

Guy Incognito

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Graham will be coming back, will probably see the numbers later.

Happy to see him staying. Wonder if they do something with Bennett next. He's got two years left, but no guaranteed money.
 

Iggloo

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I am surprised by the BG extension. I suspect it means we have seen the last of Timmy Jernigan for sure and probably Agholor and some others.
 

Rey

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Great move to keep him! Heard we got a really nice hometown discount as well ....
 

Taddy Mason

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Great move to keep him! Heard we got a really nice hometown discount as well ....
hearing $40M over 3, but who knows what those actual numbers are.
 

Rey

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old duke

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That means we have no urgency to draft a DE, unless a stud falls. A DT is the most important need now, and then a RB or WR with our top 3 picks, barring free agents of course.
 

Orlando Eagles

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Graham will be coming back, will probably see the numbers later.


God damn! I have been mashing the Phillies sites for a while watching for Harper. Happy news yesterday, but mostly expected.

I did not expect this happy news at all!!
Nice!
 
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