Portis, Redskins agree to record $50.5M deal

[CSD]

Portis, Redskins agree to record $50.5M deal

By Len Pasquarelli
ESPN.com

The Redskins have beaten the Broncos to the punch.


Clinton Portis agreed Monday to an eight-year, $50.5 million deal with Washington, making him the highest-paid running back in league history.


Portis' deal includes $17 million in combined signing and option bonuses. The agreement has not been filed to the league, but Portis is expected to sign it within the next two days.


Wednesday is the first day NFL trades can be consummated.


Portis had two years left on his original rookie deal with the Broncos. He was scheduled to make $380,000 this season and $455,000 in 2005.

[CD]

The Redskins can forget about having a great defense for the next five years now. Far too much money invested in their offense.

They should be able to compete for a playoff spot and perhaps even make it but it will be extremely difficult for them to ever get through the playoffs now.

[lazydaze]

Wow...

That Snyder, he never cease to amaze or astonish.

Thats a big raise, and quite a leap of faith.

[CSD]

Danny Snyder needs an advisor.

[BringBackZezel]

There's a trump card on the horizon, though:

There is no salary cap in 2007. Teams will be able to backload contracts, and even cut HUGE contracts @ that point because they won't have to worry about a cap.


We'll see many more of these contracts in the next few years....

[lazydaze]

For real?

No cap. Does it expire?

[Iowa_Card]

Originally posted by CSD@Mar 1 2004, 12:33 PM
Danny Snyder needs an advisor.

He'd just fire the advisor if he didn't like the advice.

[ironman]

Gibbs knows what he's doing.

[BringBackZezel]

Originally posted by lazydaze@Mar 1 2004, 12:36 PM
For real?

No cap. Does it expire?

The CBA says that there is no cap in 2007. Many teams are scheduling 2-tier signing bonuses to take advantage of it right now.

We'll also see HUGE, long contracts because everything signed now is essentially a three year contract with team options past that.

There will be a TON of cuts after the 2006 season.

How is the NFL Salary Cap determined?

Answer:The Cap is determined through a complicated calculation system. The Cap is based on income that the teams earn during a League Year. A percentage of that income, termed Defined Gross Revenues (DGR), is allocated for player expenditures. The DGR is based on ticket sales, merchandise sales, and broadcasts. The DGR is divided equally amongst all 32 teams.

For all of you nerds out there, here is the actual mathematical calculation:

Projected DGR x CBA Percentage = Players Share DGR

Players Share minus Projected League wide Benefits =
Amount Available for Player Salaries

Amount Available for Player Salaries / Number of Teams =
Unadjusted Salary Cap per Team

The CBA Percentages were agreed upon in the 1998 and 2001 extension to the CBA are as follows:

1998-2001 63%
2002 64%
2003 64.25%
2004 64.75%
2005 65.5%
2006 64.5%
2007 Uncapped Year


NOTE: Minimum Team Salary (MTS) is 56% for the remainder of the CBA. If a team does not allocate at least 56%, then the players on the team roster for that year will be directly paid the shortage.

SOURCE

[CSD]

Originally posted by pgrote@Mar 1 2004, 12:38 PM
Gibbs knows what he's doing.

Gibbs isn't paying these guys, Snyder is. This is Joe Gibbs first exposure to the salary cap.

[lazydaze]

Originally posted by BringBackZezel+Mar 1 2004, 12:40 PM-->

QUOTE(BringBackZezel @ Mar 1 2004, 12:40 PM)

[BringBackZezel]

Originally posted by lazydaze+Mar 1 2004, 12:43 PM-->

QUOTE(lazydaze @ Mar 1 2004, 12:43 PM)

Originally posted by [email protected] 1 2004, 12:40 PM

[CD]

2007 is the final year of the collective bargaining agreement.

However, I've heard there are already discussions going on to extend the deal, in which case 2007 will become a capped year.

[CD]

Originally posted by pgrote@Mar 1 2004, 10:38 AM
Gibbs knows what he's doing.

He knew what he was doing in the no-cap era. His decisions now, his first year in the cap era, look like he has a lot of adjusting and re-learning to do.