Measuring some of the moves the Patriots made in the last few days and their impact on the salary cap:
1. On Saturday, ESPN's Field Yates provided more details on Tom Brady's recent restructure, including the fact that Brady had $10 million of his $14 million base salary converted into a signing bonus, and that Brady’s cap number is still $22 million for 2018, while his cap number for 2019 jumped by $5 million to $27 million
Before the restructure, Brady's 2018 cap number was $22,000,215. It consisted of:
-- $14,000,000 salary
-- $215 offseason workout bonus
-- $7,000,000 signing bonus proration from 2016 $28 million signing bonus
-- $1,000,000 46-man roster bonuses ($62,500 per game)
Before the restructure, Brady's 2019 cap number was $22,000,000. It consisted of:
-- $14,000,000 salary
-- $7,000,000 signing bonus proration from 2016 $28 million signing bonus
-- $1,000,000 46-man roster bonuses ($62,500 per game)
After the restructure, Brady's 2018 cap number remains $22,000,215. It consists of:
-- $4,000,000 salary
-- $215 offseason workout bonus
-- $7,000,000 signing bonus proration from 2016 $28 million signing bonus
-- $5,000,000 signing bonus proration from 2018 $10 million signing bonus
-- $5,000,000 in LTBE (Likely to Be Earned Incentives)
-- $1,000,000 46-man roster bonuses ($62,500 per game)
After the restructure, Brady's 2019 cap number is now $27,000,000. It consisted of:
-- $14,000,000 salary
-- $7,000,000 signing bonus proration from 2016 $28 million signing bonus
-- $5,000,000 signing bonus proration from 2018 $10 million signing bonus
-- $1,000,000 46-man roster bonuses ($62,500 per game)
What did I get WRONG in my Friday's piece on Brady's incentives?
- The incentives would be classified NLTBE (Not Likely to Be Earned). They ended being classified LTBE (Likely to Be Earned).
- The Patriots want to limit dead money. If Brady retires after this season, the Patriots will now have to eat $12 million in dead money. Before the restructure, the dead money amount was $7 million.
- Brady's 2019 salary would become guaranteed after this restructure. It did not.
- $10 million up front
- $10 million paid over the seventeen weeks of the 2013 and 2014 seasons
- $5 million paid on February 15, 2014
- $5 million paid on February 15, 2015
