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Re: $30 mil for 4 years...

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  • Frank
    Well, I read Miguel s statement on Richard s contract. I have to say, it didn t make me feel much better. Besides the relatively high cap numbers after this
    Message 1 of 5 , Apr 15, 2006
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      Well, I read Miguel's statement on Richard's contract. I have to say,
      it didn't make me feel much better. Besides the relatively high cap
      numbers after this year, he makes this statement;

      "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."

      I guess, as you said Zip, we can count on the cap to increase
      significantly over the term of the new CBA, but that's a lot of cash!

      fdb

      --- In patriotzip@yahoogroups.com, "RandyZ. Pierce" <alaric02@...> wrote:
      >
      > The detail seems off-set by the base salaries and the principle of a
      signing bonus spreading throughout the contract. Why is the leap so
      quick when the base salary takes four years to implement a jump?
      >
      > I'll be interested in Miguel's break down of these numbers before I
      jump to any conclusion.
      >
      > The initial reports are generally higher than reality and that
      initialy report was 30 Million for four years which would of course be
      7.25/year on average. That number doesn't intimidate me too much in
      Richard's case. We paid Ty Law more and I'd think Richard has a
      bigger overall impact upon this team.
      >
      > One thing for certain I can see no reason they have changed
      philosophies - though perhaps they adjusted for the new cap expectations.
      >
      > Go Pats!
      > Zip
      >
      > ----- Original Message -----
      > From: Frank
      > To: patriotzip@yahoogroups.com
      > Sent: Friday, April 14, 2006 12:31 PM
      > Subject: [patriotzip] Re: $30 mil for 4 years...
      >
      >
      > Now that I've seen more detail, I think the Pats could have done
      better.
      >
      > From the Herald, "His base salaries the next four years are $585,000,
      > $600,000, $730,000 and $3.685 million. Most importantly for the Pats,
      > his cap number is slated to be just $4.4 million in 2006 before it
      goes
      > up to $8.26 million in 2007, $8.39 million in 2008 and $11.34 million
      > in 2009".
      >
      > Ouch! Those future cap numbers are nasty. I could forsee attempts at
      > renegotiations down the road, that could get ugly. Seymour
      consistanly
      > said that he "didn't have to be the highest paid lineman", and yet
      > that's now what he is. He's a terrific player, better than his
      numbers
      > indicate, due to our scheme and the double teams he has to deal
      with. I
      > just hope this doesn't hurt our ability to sign players, or
      indicate a
      > change in a fiscal policy that has served us so well.
      >
      > fdb
      >
      >
      > --- In patriotzip@yahoogroups.com, "Frank" <frank.dana@> wrote:
      > >
      > > Is it too much? Did they compromise their philosophy for Seymour?
      > >
      > > If it's not too much, what would have been?
      > >
      > > fdb
      > >
      >
      >
      >
      >
      >
      >
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      >
      >
      >
      >
      >
      >
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    • Rich Carreiro
      ... Read Reiss s blog. The $18.66mil option is split into two pieces -- $6.66mil and $12mil. The $6.66mil piece can be paid any time from 4 Aug 2006 to next
      Message 2 of 5 , Apr 15, 2006
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        frank.dana@... ("Frank") writes:

        > Well, I read Miguel's statement on Richard's contract. I have to say,
        > it didn't make me feel much better. Besides the relatively high cap
        > numbers after this year, he makes this statement;
        >
        > "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."

        Read Reiss's blog.

        The $18.66mil option is split into two pieces -- $6.66mil and $12mil.
        The $6.66mil piece can be paid any time from 4 Aug 2006 to next March.
        The $12mil peice is due next March. This is obviously the Pats working
        around the "can't give a guy more than one raise in twelve months" rule.
        I fully expect the $6.66mil piece will be paid 4 Aug 2006 and so count
        against the 2006 cap.

        --
        Rich Carreiro rlcarr@...
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