clock menu more-arrow no yes mobile

Filed under:

Free Agency Open Thread 3.0 With Salary Cap Update

Hey guys I wanted to start a new thread to get us through the night and into the morning. Right now no confirmation on Eddie Royal or any other moves, but I have crunched some numbers and wanted to give an update to where we stand in regards to the salary cap. Now these numbers aren't official, and might not be 100% accurate, but should be pretty close. They are based off the reported information that we have so far, and a big shoutout to Parks and UK for being Twitter Legends and finding the exact reports.

Numbers after the jump

Adam Carriker: Base salary: $700K, $3m signing bonus, and a $250K roster bonus per year. The signing bonus is prorated over 4 years so it only counts $750K per year. This brings his cap total for 2012 to : $1.7 million

Pierre Garcon: Base salary: $2.1m, $11m signing bonus. The bonus prorated over 5 years is $2.2 million per year, meaning that absent any hidden fees, he only accounts for $4.3 million against the cap in 2012.

Josh Morgan: Base salary: $1.8, $5.5m signing bonus. While the deal can void after 2 years, for now the bonus is still prorated over the full 5 years of the deal, for $1.1 million a year. Morgan's 2012 cap hit should be $2.9 million.

That is a combined $8.9 million in 2012 salaries for these three players, but given the way the Rule of 51 works (the salary cap is only made up of the top 51 salaried players, so three minimum guys get pushed down the list) we will only be losing $7.73 million against our cap with these signings. With our cap number right around $16.5 million to start the day that leaves us with roughly $8.77 million left to spend.

Steve Shoup will be covering Free Agency and the NFL Draft for his own site, but will provide write-ups on players for the Redskins here on Hogs Haven as well. Check out his NFL Draft Page for more details and updates throughout the draft season! HTTR!