larry29 Posted March 9, 2008 Share Posted March 9, 2008 hi all. i dont post much but i am on here everyday. could someone please explain what happens with sean taylors contract. does it still count against the cap, or is it wiped out. by the way, sean was my favorite player and i miss him dearly. Link to comment Share on other sites More sharing options...
Chris0894 Posted March 9, 2008 Share Posted March 9, 2008 he counts as just over 2mil against the cap this year http://www.redskinswarpath.com/WarpathRedskinsCap.htm?vbseourl=redirect/WarpathRedskinsCap.htm Link to comment Share on other sites More sharing options...
ClintonINFORSIX26 Posted March 10, 2008 Share Posted March 10, 2008 Goodell is a total piece of crap...he needs to do something about that! Link to comment Share on other sites More sharing options...
DCchillin89 Posted March 10, 2008 Share Posted March 10, 2008 Goodell is a total piece of crap...he needs to do something about that! As long as the money goes to his child and wife, I really have no problem with it. The last thing on my mind when it comes to Sean Taylor is his posthumous salary cap hit. Link to comment Share on other sites More sharing options...
BigMike619 Posted March 10, 2008 Share Posted March 10, 2008 As long as the money goes to his child and wife, I really have no problem with it. The last thing on my mind when it comes to Sean Taylor is his posthumous salary cap hit. amen to that. i dont think there is a single person or player that would be mad over the money he is going to get. Link to comment Share on other sites More sharing options...
OVCChairman Posted March 10, 2008 Share Posted March 10, 2008 amen to that. i dont think there is a single person or player that would be mad over the money he is going to get. i second that. Not to sound horrible but it's much like a Pension when a woman is widowed. The only thing is that i dont know if they will get it. He wasnt married and his daughter is under 18... Does the government try to seize the funds or do they give it to the Legal Guardian. Link to comment Share on other sites More sharing options...
MrJL Posted March 10, 2008 Share Posted March 10, 2008 i second that. Not to sound horrible but it's much like a Pension when a woman is widowed.The only thing is that i dont know if they will get it. He wasnt married and his daughter is under 18... Does the government try to seize the funds or do they give it to the Legal Guardian. I think they should be able to pay his family and take the money off the cap. Link to comment Share on other sites More sharing options...
OVCChairman Posted March 10, 2008 Share Posted March 10, 2008 I think they should be able to pay his family and take the money off the cap. then Snyder would be appealing it and giving them the money out of his pocket... you think he would do that? :doh: I dont mind it either because it keeps him on the books for the team for the year. Kind of a silent tribute.... Link to comment Share on other sites More sharing options...
Mr. S Posted March 10, 2008 Share Posted March 10, 2008 You guys do realize that dead hit (no pun intended) has already been paid right? That was part of his $14 million dollar bonus he got, 14 million over 7 years, so about 2 million a year as pro-rated bonus money on the cap. I think Goodell should allow us to wipe the books with this one. The money has already been paid, it's just being accounted for like a signing bonus is, by being pro-rated over the term of the 7 year contract he signed. It should be removed, imo. I don't think we should be penalized for losing our best player by accident. Link to comment Share on other sites More sharing options...
ntotoro Posted March 10, 2008 Share Posted March 10, 2008 i second that. Not to sound horrible but it's much like a Pension when a woman is widowed.The only thing is that i dont know if they will get it. He wasnt married and his daughter is under 18... Does the government try to seize the funds or do they give it to the Legal Guardian. If he had a will (he most likely did), then that will dictate where the money goes. Link to comment Share on other sites More sharing options...
OVCChairman Posted March 10, 2008 Share Posted March 10, 2008 If he had a will (he most likely did), then that will dictate where the money goes. but if he's contracted.... does that mean he still is entitled to that money? or are they gonna pull a "it wasnt his money yet" kind of nonsense Link to comment Share on other sites More sharing options...
ntotoro Posted March 10, 2008 Share Posted March 10, 2008 but if he's contracted.... does that mean he still is entitled to that money? or are they gonna pull a "it wasnt his money yet" kind of nonsense They can't, simply because he does have a contract. It, in writing, was already his money. Even if they cut him because he died (sounds weird, but that's essentially what happens), he still has funds on the books and even death can't get around that. That money will go to his estate, I assume. Link to comment Share on other sites More sharing options...
OVCChairman Posted March 10, 2008 Share Posted March 10, 2008 They can't, simply because he does have a contract. It, in writing, was already his money. Even if they cut him because he died (sounds weird, but that's essentially what happens), he still has funds on the books and even death can't get around that. That money will go to his estate, I assume. I sure hope so... it's all politics though. I'm sure lawyers have picked that clean tryin to find some kind of a loophole Link to comment Share on other sites More sharing options...
angel2 Posted March 10, 2008 Share Posted March 10, 2008 I think they should be able to pay his family and take the money off the cap. It does seem that the players' union would step in and demand the NFL make an exception in this case. Whatever monies Sean's contract is owed him could come off the Skins' books and prorated over a period of time. Putting some of the money in escrow while drawing interest from a bank and would benefit his daughter's future education. Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted March 10, 2008 Share Posted March 10, 2008 It does seem like the NFL should step up and take care of this, but i doubt that will happen. It could be a mess if one team seems to get a special exception. Other teams would complain im sure, and i dont think the NFL wants that kind of controversy. Link to comment Share on other sites More sharing options...
SonnyandSam Posted March 10, 2008 Share Posted March 10, 2008 The cap hit has nothing to do with any money owed to Sean Taylor or his estate. It is simply an accounting gimmick used by the NFL to manage how much money a team can spend each year. Sean's signing bonus was paid to him when he signed his contract and goes to his estate (what has not been spent). His will or state law will determine how the estate's assets will be distributed. Any incentive bonuses or salary from his contract would not be earned because he did not play. Snyder already committed to funding something like $.5 million towards the trust fund for Sean's daughter. I would not be surprised if he has not contributed more and/or helped to raise substantial amounts of money for the fund. Whether the NFL wipes away the hit on the salary cap, creates a precedent that the NFL may not want to address. Exactly what situations should one be permitted to wipe a salary cap hit off the books? I'm with most of you that the NFL should do it in Sean's case because he was murdered. But should it also happen when a player dies for other reasons. Several NFL players have died over the past couple years, and I do not recall reading anything about their cap impact being wiped off the books....so I doubt we will see it in Sean's case. Link to comment Share on other sites More sharing options...
cathartic-j Posted March 10, 2008 Share Posted March 10, 2008 but if he's contracted.... does that mean he still is entitled to that money? or are they gonna pull a "it wasnt his money yet" kind of nonsense They can't, simply because he does have a contract. It, in writing, was already his money. Even if they cut him because he died (sounds weird, but that's essentially what happens), he still has funds on the books and even death can't get around that. That money will go to his estate, I assume. Didn't you two read Mr. S's post? That money isn't going to "go" anywhere, because it was already paid. Taylor (and/or his family) probably received it shortly after signing the contract...which means we probably should be on the books for it, since we already paid it. The reason it's still on the books now is because it was guaranteed money that was prorated over the length of the contract for cap accounting purposes, but the payments themselves were not prorated. Now, Taylor's salary, which isn't guaranteed and hadn't been paid, is a different story. We're not on the books for that, and I have no idea whether Daniel Snyder intends to pay it to the family or not. My guess is that the trust fund set up for them will keep his daughter sufficiently supported financially. But if y'all are concerned, you can send a donation to: The Sean Taylor Memorial Trust Fund c/o The Washington Redskins 21300 Redskins Park Drive Ashburn, VA 20147 Link to comment Share on other sites More sharing options...
cathartic-j Posted March 10, 2008 Share Posted March 10, 2008 SonnyandSam: You beat me to it! Link to comment Share on other sites More sharing options...
SonnyandSam Posted March 10, 2008 Share Posted March 10, 2008 SonnyandSam: You beat me to it! Aaaahhhhh......great minds...... :chestram: Link to comment Share on other sites More sharing options...
USNationalist Posted March 10, 2008 Share Posted March 10, 2008 You guys do realize that dead hit (no pun intended) has already been paid right? That was part of his $14 million dollar bonus he got, 14 million over 7 years, so about 2 million a year as pro-rated bonus money on the cap. I think Goodell should allow us to wipe the books with this one. The money has already been paid, it's just being accounted for like a signing bonus is, by being pro-rated over the term of the 7 year contract he signed. It should be removed, imo. I don't think we should be penalized for losing our best player by accident. does that mean he will be taking up 2 mil in cap space for a few more years to come? Link to comment Share on other sites More sharing options...
SkinsMaster88 Posted March 10, 2008 Share Posted March 10, 2008 From an ESPN article: http://sports.espn.go.com/nfl/columns/story?columnist=pasquarelli_len&id=3130491 "[NFL senior vice president of public relations Greg] Aiello said that the remaining prorated amounts from signing or option bonuses already paid to Taylor will "accelerate" into Washington's salary cap for 2008. According to NFL Players Association documents, the prorated amounts for future seasons are $1.175 million each for 2008-09 and $128,000 for 2010. That would bring Taylor's salary-cap charge for 2008 to about $2.48 million. Taylor's scheduled salary-cap charge for 2008 had been $2.19 million. So it appears that the recalculated salary-cap charge for 2008, because of the "accelerated" prorations, could be slightly higher than the initial one. League officials still are determining what, if any, bonuses or incentives Taylor might have qualified for this season." Link to comment Share on other sites More sharing options...
SkinsMaster88 Posted March 10, 2008 Share Posted March 10, 2008 does that mean he will be taking up 2 mil in cap space for a few more years to come? It seems that the salary cap effect will be similar to if we had cut a player. So the remaining guarantees get pushed into that year. I don't believe we'll have anything on the salary cap after 2008. Link to comment Share on other sites More sharing options...
Darth Tater Posted March 10, 2008 Share Posted March 10, 2008 As long as the money goes to his child and wife, I really have no problem with it. The last thing on my mind when it comes to Sean Taylor is his posthumous salary cap hit. The $ hitting the cap is only for cap accounting purposes. The money was already paid out a long time ago. Link to comment Share on other sites More sharing options...
CRobi21 Posted March 10, 2008 Share Posted March 10, 2008 No hard feelings towards the OP. I know this is an issue that can be talked about. But it pisses me off to think about **** like this. Link to comment Share on other sites More sharing options...
Darth Tater Posted March 10, 2008 Share Posted March 10, 2008 It seems that the salary cap effect will be similar to if we had cut a player. So the remaining guarantees get pushed into that year. I don't believe we'll have anything on the salary cap after 2008. I think their handling it like a player who retires right after the season with a large amount in guarunteed cap hit not yet fully amortized. You can PUP him or put him on the Did Not Report list until June and then administratively cut him. I bet we carry about $4M on ST into 2009. Link to comment Share on other sites More sharing options...
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