Pettis restructures his contract

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12intheBox said:
Actually, I think it's all this year. He took a pay cut to stay on the team for this year - I believe he is still a free agent next season and now makes less this year than he otherwise would have - but he gets a gtd 250k bonus which makes us think he will stay on the roster for the rest of this season.
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when they restructure like this, they convert a portion of the base salary to a bonus, that gets paid immediately, and combines with the salary, usually equals what they were scheduled to make in the first place. But by converting part of it to a signing bonus, it can be spread over the remaining years of the contract.

In other words, they get the same $$$, but for cap (accounting purposes) it gives the relief THIS YEAR. and the player gets an "advance" on his earnings.
 
CoachO said:
when they restructure like this, they convert a portion of the base salary to a bonus, that gets paid immediately, and combines with the salary, usually equals what they were scheduled to make in the first place. But by converting part of it to a signing bonus, it can be spread over the remaining years of the contract.

In other words, they get the same $$$, but for cap (accounting purposes) it gives the relief THIS YEAR. and the player gets an "advance" on his earnings.
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That seemed to be the case with Long, but until we see the numbers from the Rams (or the agent) we won't know for sure - but it appears from the preliminary numbers this Pettis deal was a pay cut more than a restructure.
 
Chris Long restructures deal with Rams

Posted by Curtis Crabtree on April 23, 2013, 3:21 AM EDT
http://profootballtalk.nbcsports.com/2013/04/23/chris-long-restructures-deal-with-rams/

The St. Louis Rams have had little cap room for the majority of the offseason after big money deals were given to tackle Jake Long and tight end Jared Cook.

St. Louis had just $244,053 in cap space and needed room to sign their upcoming draft class which includes two first round selections. According to Jim Thomas of the St. Louis Post-Dispatch, the Rams were able to get some help with defensive end Chris Long agreeing to restructure his contract.

Long will get the same amount of money but the restructured deal gives the Rams an extra $4.5 million in cap space. Per Thomas, Long was scheduled to make $13.25 million in base salary this season. Six million of his base salary was converted to a roster bonus with the cap hit prorated over the final four years of his contract.

The new deal gives the Rams the ability to sign their draft class and finally submit the contract for offensive lineman Chris Williams that they couldn’t afford despite agreeing to the deal three weeks ago.
 
-X- said:
The new deal gives the Rams the ability to sign their draft class and finally submit the contract for offensive lineman Chris Williams that they couldn’t afford despite agreeing to the deal three weeks ago.
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Huh?
 
12intheBox said:
And dress 6WRs? Would be unusual. Even if they kept him on the roster, one of those 6 will be inactive on game day.
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Good point....Givens has more speed, however, Pettis they like in the red zone and is the back up punt returner so you could be spot on.
 
jjab360 said:
It's not like he's giving money back, just moving it around.
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Moving it around every year so that we can do more and sign people that can potentially help us? I don't see how that's not as good just because he's not giving the money back?
 
Well, he's getting the money earlier - and guaranteed. It's all in his interest, even if the team did nothing with the cap savings. He is a good team leader, but not for this.
 
Demoff/Snead: "Hey Austin, how's it going?"

Pettis: "Pretty good, what's up?"

Demoff/Snead: "Oh not much. Hey, so we wanted to run something by you."

Pettis: "Alright, what you got?"

Demoff/Snead: "So you need to take a pay cut or we're going to cut you. We will go ahead and give you $250K now though...cool?"

Pettis: "..."

Demoff/Snead: "Hello? Austin?"

Pettis: "...ok."
 
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