Seymour's contract details

[ladypatsfan]

http://www.patsfans.com/new-england-patriots/messageboard/showthread.php?t=34168

First of all, it appears that the Patriots got around the 12-month rule for renegotiations (he signed the deal yesterday) by keeping Seymour's cap number exactly the same as it had been -- $4,420,160. So either the CBA's reference to "Salary to be paid to the player" means "cap number," or that rule was clarified or changed in the recent CBA extension.

Anyhow, here are the details --

The "extension" is for only three more years past 2006. Seymour got a renegotiation bonus of $5.34 million, prorated at $1,335,000 per season. He also got a workout bonus of $100,000 in addition to his standard $6,160 workout bonus. His $585,000 base salary, plus his $1,335,000 prorated bonus and $100,000 additional workout bonus add up to $2.02 million -- exactly what his salary would have been, which is why his cap number is the same.

Next year, Seymour is due an option bonus of $18.66 million. If the option is not exercised, Seymour will become a free agent in 2008, and his 2007 base salary becomes $19.26 million AND is guaranteed. He has workout bonuses of $106,720 each season from 2007 through 2009.

His cap numbers each season will be $4,420,160 in 2006, $8,261,720 in 2007, $8,391,720 in 2008 and $11,346,720 in 2009.

If you guys are familiar with Miguel's salary cap page, then you know that AdamJT13 is one of Miguel's "sources" for his salary cap information. He is a legit source. I wonder where he gets this info from?

 

[RoadGrader]

http://www.patsfans.com/new-england-patriots/messageboard/showthread.php?t=34168


If you guys are familiar with Miguel's salary cap page, then you know that AdamJT13 is one of Miguel's "sources" for his salary cap information. He is a legit source. I wonder where he gets this info from?

I don't know ladypatsfan, but thank you for bringing this info to this forum.

it looks to me, especially in light of #93 receiving a guaranteed base salary of $19+MM in 2007 plus becoming a FA in 2008 if the Pats do not pay him an option bonus due of $18.66MM in 2007..... due to like maybe because some friggin' NY Jets center rolls over on his leg or something possibly ending his career in 2006, that both sides have protected themselves ....which ain't such a bad thing.

keep posting lady-pf.....it's good stuff

 

[BostonTim]

Re: Re: Seymour's contract details

... #93 receiving a guaranteed base salary of $19+MM in 2007 plus becoming a FA in 2008 if the Pats do not pay him an option bonus due of $18.66MM in 2007 [/B]

I'm going out on a limb here and takin' the under.

Cheers, BostonTim

 

[mikiemo83]

I wonder if this is only part of the story.... could they change the bonus on August what ever to make it more front loaded and ease up the hits later in the contract?

 

[aaava]

Yeah, what doesn't make sense here is that the Pats are *STILL* like 20 Million under this years cap!

So, if Seymour isn't going to get the salary to hit the cap this year,....

THEN WHO IS?

 

[BostonTim]

.... could they change the bonus on August what ever to make it more front loaded and ease up the hits later in the contract?

Trust me I don't know....but IF he re-signed yesterday, wouldn't that start a NEW one year waiting period?

Cheers, BostonTim

 

[mikiemo83]

Trust me I don't know....but IF he re-signed yesterday, wouldn't that start a NEW one year waiting period?

Cheers, BostonTim

not sure if this is a re-sign ( anni I used the correct one?) or an extension because the money is the same. if it is an extension maybe that doesn't count as a new contract, my thought is if it did then it would not be announced until August, and the pats can guarantee the money after the original 1 year grace period is up and front load a portion depending on who they spent money on already. this could work for both the team ( still have money to play with and reduce the number for nest year) and Richard ( more up front in case of injury)


only a thought

 

[Hawg73]

Good stuff, although his cap number is going to get crazy after this year.

First thing I thought of was that we still have 20M to play with and other than giving some to Branch it still seems likely that there will be a substantial amount left over.

I smell a blockbuster move coming, but haven't a clue in hell who they are interested in acquiring. Of the UFAs and RFAs still on the table there are maybe a handful of guys that would seem attractive and few play the postions we could really use some able bodies.

Surely, the holes we have to fill would not require a 2001-esque mass lower-level free agent importation. I would think it would be a strategy of bringing in a few quality, key guys over a mass influx.

Maybe we are banking on the June 1st cuts, even though I hear there will not be a huge number of them overall.

 

[Wandering Athol]

Interesting detail about the option bonus in Seymour's contract:

http://www.boston.com/sports/football/patriots/reiss_pieces/
ESPN.com's Len Pasquarelli reports on Friday that the $18.66 million option bonus is split into two parts. The first part is $6.66 million, and according to Pasquarelli can be paid any time from Aug. 4 of this year to next March. The second part is $12 million and is due next March. This detail is crucial because it allows the Patriots to use some of their current cap space by executing the first part of the option before the end of the 2006 league year.

-----------------------------------------------------

This gives the Pats a little more flexibility if they want to take a bit more of a cap hit in 2006 - smart move once again of their behalf.

According to http://www.patscap.com/, that would leave them either $16.9MM or $15.3MM remaining under the cap.

 

[Hemi_1]

I get the strange outside feeling that Arrington may be on BB sites.

We have a bunch of money to give to a big player.

Arrington is not a Mcginnest, but his presence would ease that blow a bit dont cha tink?

 

[Wandering Athol]

I get the strange outside feeling that Arrington may be on BB sites.

We have a bunch of money to give to a big player.

Arrington is not a Mcginnest, but his presence would ease that blow a bit dont cha tink?

He's talented, no doubt. I just don't think BB and Pioli are going to blow "J Peterson-type" (apparently what Arrington is looking for) money on a guy that had to be benched by Joe Gibbs for disciplinary reasons....especially now that there is no recourse within the new CBA for recouping signing bonus monies from problem children. Just my opinion.

 

[chef]

Good stuff, although his cap number is going to get crazy after this year.

do u really care, u got Seymore 4 a while
enjoy it