Salary cap recap 07.22.18: Sony Michel signing leaves Patriots with $8,898,940 in cap space

The Patriots completed signing their 2018 draft class on Sunday, as they came to terms with running back Sony Michel. Let's take a look at the deal.



Thanks to the slotting of the rookie contracts, we already know the numbers:

Salaries:
2018: $480,000 (fully guaranteed)
2019: $917,577 (fully guaranteed)
2020: $1,355,154 (fully guaranteed)
2021: $1,792,731 with an option for the 2022 season

Michel will receive a $5,081,232 signing bonus, which will be prorated $1,270,308 each year. His cap numbers are as follows:

2018: $1,750,308
2019: $2,187,885
2020: $2,625,462
2021: $3,063,039



In a couple of days, we'll learn how much of Michel's 2021 salary is fully guaranteed. I wrote earlier this month about how negotiating over the amount of guaranteed 2021 salary was most likely the reason why Michel's signing was so close to the start of training camp.

This signing lowered the Patriots salary cap space by $1,120,308, as Michel displaced Brandon Bolden's $630,000 salary from the Top 51 list. Michel now has the 31st highest cap number on the Patriots roster, and the fourth-highest cap number for a Patriot running back

Because his first three years' salaries are fully guaranteed, the spring of 2021 will be the first time during Michel's deal that the Patriots can release him without losing cap space.

Answering some logical follow-up questions:

Question: How many running backs or fullbacks are signed by the Patriots? And for how long?

Answer: Eight.
James White: Through the 2020 season
Rex Burkhead: 2020
Mike Gillislee: 2018
James Develin: 2020
Jeremy Hill: 2018
Brandon Bolden: 2018
Ralph Webb: 2020
Sony Michel: 2021 with an option for the 2022 season

Question: How much cap space will the Patriots have after signing Michel?

Answer: $8,898,840

Question: What is your projection for Sony Michel's 2022 option amount be?

Answer: Michel's option amount will be the average of the third-through-25th highest 2021 cap numbers at the running back position. In 2018 the option amount for a running back drafted with the 31st overall pick would have been $5,605,000. My projection for Michel's option amount is $5.5 million.

Question: How many players are now on the Patriots active roster?

Answer: By my count, 89. The offseason limit is 90.

Question: What is the positional breakdown of the Patriots roster?

Answer:


I consider Matthew Slater, Brandon Bolden, Nate Ebner, Nicholas Grigsby, and Brandon King special teamers.

Question: As of July 22, what compensatory picks should the Patriots receive in 2019?

Answer: A third-round pick for Nate Solder, a third-round pick for Malcolm Butler, a sixth-round pick for Dion Lewis, and a seventh-round pick for Cameron Fleming. (Matt Tobin's $655,000, Luke Bowanko's $ 720,000, Troy Niklas' $940,000, Jordan Matthews' $1,000,000 and Ulrick John's $745,000 cap numbers are too small to be included in the 2019 compensatory pick calculations.)

In addition, it's important to note that the Jeremy Hill signing currently offsets the loss of Johnson Bademosi. And the Adrian Clayborn signing currently offsets the loss of Danny Amendola, according to Over The Cap.

Question: What are the Patriots 2019 draft picks?

Answer:

1. 1st round: their original assigned pick


2. 2nd round: from the Bears as part of a 2018 draft-day trade


3. 2nd round: their original assigned pick


4. 3rd round: from the Lions as part of a 2018 draft-day trade


5. 3rd round: compensatory Pick (Solder)


6. 3rd round: compensatory Pick (Butler)


7. 4th round: their original assigned pick


8. 5th round: their original assigned pick


9. 6th round: compensatory Pick (Lewis)


10. 7th round: from the Eagles as part of a 2018 draft-day trade


11. 7th round: their original assigned pick


12. 7th round: compensatory Pick (Fleming)