Coles Deal Could Cost Skins

[SirSmizzy]

Coles Deal Could Cost Skins
http://www.washingtonpost.com/wp-dy...9-2005Mar6.html

By Nunyo Demasio
Washington Post Staff Writer
Monday, March 7, 2005; Page D03

By trading wide receiver Laveranues Coles to the New York Jets, the Washington Redskins now have diminished funds to try re-signing cornerback Fred Smoot. And the financial quandary may cause Washington to reduce its standing offer -- including a $10.5 million signing bonus -- which would almost certainly lead to Smoot's departure. Smoot initially declined the offer last season when both sides desired an extension.

Swapping Coles for Santana Moss brought a salary cap hit of roughly $9 million, and leaves the Redskins with less than $2 million under the cap. Although that's sufficient to re-sign Smoot to the current offer, it would nonetheless prevent other signings.

The Redskins hadn't ruled out adding a pass-rushing specialist or blocking tight end through free agency. And Washington must still re-sign some of its unrestricted free agents, such as offensive lineman Ray Brown; restricted free agents who may get offers from other clubs; and draft picks. To ease the financial bind, Washington plans on saving almost $2 million by trading Rod Gardner for a draft pick. And the club can create more cap space by releasing certain players. But Washington already restructured several contracts and is running out of accounting maneuvers.

The Baltimore Ravens lost their free-agent cornerback Gary Baxter after reducing an initial bonus offer of $10 million to $7 million. After the change, Baxter signed with the Cleveland Browns. However, Smoot's options may become limited depending on the destinations of two of the top cornerbacks still available in free agency: Tennessee's Samari Rolle and New England's Ty Law. (Rolle is reportedly close to signing with the Kansas City Chiefs.)

[patjam77]

i've said it before in previous posts... this offseason has been completely miserable for the Skins. i just don't agree with the kool-aid talk that this is all part of the master plan. yeah coles may have been a cancer but look what his trade has cost the skins. now to probably lose smoot?? i don't see how the skins D will be back to it's 2004 form. again just my opinion and i hope i will soon be able to drink the grape kool-aid and feel better about the direction of this franchise.

[Skinna Mob]

i've said it before in previous posts... this offseason has been completely miserable for the Skins. i just don't agree with the kool-aid talk that this is all part of the master plan. yeah coles may have been a cancer but look what his trade has cost the skins. now to probably lose smoot?? i don't see how the skins D will be back to it's 2004 form. again just my opinion and i hope i will soon be able to drink the grape kool-aid and feel better about the direction of this franchise.

Yeah i feel you!! I feel like urling over this money situation...

[hkHog]

Swapping Coles for Santana Moss brought a salary cap hit of roughly $9 million, and leaves the Redskins with less than $2 million under the cap. Although that's sufficient to re-sign Smoot to the current offer, it would nonetheless prevent other signings.

Well Gibbs already said that we were done shopping so I don't think this is a serious problem.

[FatPat]

I know all about the team concept Gibbs is trying to accomplish but what do you guys think is more important. Getting rid of a player that does not want to be here (coles) at the expense of a player that was tabbed as a core redskin by Gibbs himself (Smoot).

I guess Im trying to ask which do you accomodate first the guy that wants to be here or the guy that does not. Football, being a business, it is my opinion, that you keep both (Im making the bog assumption that Coles is a professional and would play hard regardless if he wasnt happy). The way the skins went about it seems likely that both are gone (not enough cap space for Smoot and Moss) and I persnoally dont think getting rid of someone unhappy is worth loosing a core redskin but again that is why Gibbs is running the ship not me. Let me know what you guys think.

[Redskins Rule]

I don't understand how this deal could cost us. Don't we have 5 million in credit for next years cap? If we trade Gardner, which I think we will get done shortly, then we have plenty of money to sign the guys that we need to sign; Including Smoot. And, we have the 5 million for next year. We need that 5 million, because we are already over the cap for the 2006 season.

Maybe I'm just blind, but I don't see how this deal has cost us financially.

[Deadskins]

Since Coles is renegotiating his contract with the Jets, I think we should have still forced him to return the $5 million. Why does Snyder keep letting these guys (Deion), steal our cap money by not playing out their contracts, or at least until the signing bonuses are paid down?

[1niksder]

I know all about the team concept Gibbs is trying to accomplish but what do you guys think is more important. Getting rid of a player that does not want to be here (coles) at the expense of a player that was tabbed as a core redskin by Gibbs himself (Smoot).

I guess Im trying to ask which do you accomodate first the guy that wants to be here or the guy that does not. Football, being a business, it is my opinion, that you keep both (Im making the bog assumption that Coles is a professional and would play hard regardless if he wasnt happy). The way the skins went about it seems likely that both are gone (not enough cap space for Smoot and Moss) and I persnoally dont think getting rid of someone unhappy is worth loosing a core redskin but again that is why Gibbs is running the ship not me. Let me know what you guys think.

The ideal situation would have allowed the Skins to resign Smoot to a reasonable contract, but our so called core Skin isn't being reasonable. And as far as Coles go it doesn't matter that Coles may have played hard he would have been a cancer in the locker room.(his request to be released and comments about the team left many players saying they didn't want him back.

We are close to the Cap limit but that could change with the release of a player or two. The trade of Gardner will free up about $2M.

I actually like the pace of free agency this year. Gibbs said the FA shopping is over so the remaining cap won't matter until it's time to sign our rookies witch will take about $2M in cap space.
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I looked at all the moves that the Skins made and I think we did OK. ...... Here they are with the 05 cap impact.


SUMMARY

Cap Room (Feb 180: $3,.185,000
In House Savings: $9,054,000
Cap Spending: $10,007,000
Top 51 Salaries $3,366,000 saved
Dead Money $9,611,000 added

Housekeeping

Samuels - 7 years, $46.5M, $15.75M SB, $3M RB
Year...Salary...Bonus...Old Bonus...Cap Hit
Old 2005 cap number - $9643
New 2005 cap number - $6882
2005 cap savings: $2,761,000

Haley - released
Old 2005 cap number - $1163
New 2005 cap number - $0
2005 deadcap - $325
2005 cap savings: $838,000

Parker - released
Old 2005 cap number - $455
New 2005 cap number - $0
2005 deadcap - $0
2005 cap savings: $455,000

Restructures
Ramsey - $500,000
Jansen - $1,000,000
Thomas - $1,600,000
Wynn - $1,900,000


TOTAL SAVINGS: $9,054,000

When 50/50 is traded or released hell free up almost $2M


Shopping

Harris - $1M escalator triggered
2005 cap increase: $1,000,000


Marshall - 3 years, $2M, $368K SB
2005 cap hit: $577,000

Simon - 1 year, $380K
2005 cap hit: $380,000

Smith - 2 years, $690K
2005 cap hit: $305,000

Cartwright - 1 year, $656K tender
2005 cap hit: $656,000

Evans - 1 year, $656K tender
2005 cap hit: $656,000

Hasselbeck - 1 year, $656K tender
2005 cap hit: $656,000

Lott - 1 year, $656K tender
2005 cap hit: $656,000

Warner - 1 year, $656K tender
2005 cap hit: $656,000

Clemons - 1 year, $380K tender
2005 cap hit: $380,000

Chandler - 1 year, $380K tender
2005 cap hit: $380,000

Salave'a - 1 year, $760K, vet min exemption
2005 cap hit: $455,000

Albright - 1 year, $760K, vet min exemption
2005 cap hit: $455,000

Rabach - 5 years, $13.75M, $2.5M SB, $2M RB (guaranteed), 5th year voidable.
2005 cap hit: $1,435,000

Patten - 5 years, $13M, $3.5M SB
2005 cap hit: $1,360,000

TOTAL SPENDING: $10,007,000



I estimate we had about $6.75M left under the Cap with Coles still here


After Coles trade for Moss


Coles would be earnings: $3,357,000 credit
Moss 2005 cap hit: $448,000
Top 51 Salaries $104,000 saved
Dead Money $9,286,000 added

TOTAL 2005 CAP HIT due to TRADE: $6,272,000

I estimate we have about $477,000 left under the Cap after the Coles trade

I may have missed a restucture or two, Iv'e heard Harris and someone else had re-did their deals but could find nothing to confimr this.(not listed on theHogs.net then ir probably didn't happen).

[riggofan]

I'm with you guys on this. I don't think we've ever seen such a clear example of poor team management as this. Its bad enough to trade Coles away for Moss, but to hurt yourself financially in the process is just moronic.

[JansenFan]

Thread continued here.... http://www.thehogs.net/forum/viewtopic.php?t=11699