Been a busy few days for the Patriots, cap-wise, as we have learned the details of Brandon King and Julian Edelman's extensions. Let's take a look at those deals, as well as the ramifications of some other moves over the course of the last few days:
1. Before his extension, Edelman’s 2019 salary cap number was $5,410,949:
–-$2,000,000: Salary
–-$1,535,949: Signing bonus proration of his 2017 signing bonus. His signing bonus proration was lowered by $130,718, since he had to forfeit four weeks' worth of his signing bonus ($392,156.94) to the Patriots after his suspension. As a result, we get $392,156.94 divided by the three years his signing bonus covers, which equals $130,718.
–-$1,000,000: LTBE incentives
–-$375,000: 46-man active roster bonuses ($31,250 for each game he’s active). Was active for 12 games in 2018.
Before his extension, Edelman could have earned $6.5 million in cash this season:
–-$2,000,000: Salary
–-$3,500,000: Incentives
–-$500,000: Offseason workout bonus
–-$500,000: 46-man active roster bonuses
After his extension, Edelman's salaries are now:
-- 2019: $1 million - a decrease from $2 million
-- 2020: $3.3 million
-- 2021: $2.8 million
Edelman received an $8 million signing bonus that will be prorated in the following manner:
-- $2,666,666 in 2019
-- $2,666,666 in 2020
-- $2,666,668 in 2021
After his extension, Edelman’s 2019 salary cap number is now $6,077,615. That includes the following:
–-$1,000,000: Salary
–-$1,535,949: Signing bonus proration of his 2017 $5 million signing bonus
–-$2,666,666: Signing bonus proration of his 2019 $8 million signing bonus
–-$375,000: 46-man active roster bonuses ($31,250 for each game he’s active). He was active for 12 games in 2018 -- if Edelman is active for all sixteen games his 2019 number will increase by $125,000 to $6,217,615.
–-$500,000: Offseason workout bonus
After his extension, Edelman can now possibly earn $11 million in cash this season:
--$8,000,000: Signing bonus
–-$1,000,000: Salary
–-$1,000,000: Incentives
–-$500,000: Offseason workout bonus
–-$500,000: 46-man active roster bonuses
Before this extension, Edelman could have earned $3.5 million in incentives. They were:
-- $500,000 incentive, which could have been earned in one of the four ways:
- 1,057 receiving yards
- 70 receptions plus seven TDs
- 80 receptions plus Super Bowl appearance
- 80 catches AND 13 wins
- In 2018, 11 veteran wide receivers had at least 80 catches. Their average cap hit was $10,064,194. Edelman could catch 80-plus passes in 2019 and his 2019 cap number will just be $6,217,215.
- Edelman's $7.75 million new money APY is the 34th highest among all wide receivers.
- His 2019 cap number is the 39th highest.
- His 2020 cap number is the 28th highest.
- His 2021 cap number is the 23rd highest.