AdamJT13
Salary Cap Analyst
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Keith Brooking signed a five-year contract for $13 million. He did not get a signing bonus, but he could get a $2 million option bonus this season if we decide to pick up his option for 2013. (I do not know the first or last date the option can be exercised). If we don't pay him the option bonus, his base salary for this season increases from $1.4 million to $2.5 million and becomes fully guaranteed. The last two years of the contract are voidable (which might be why it was reported as a three-year contract). He has a $100,000 workout bonus each season and base salaries of $1.4 million, $1.9 million, $2.2 million, $2.5 million and $2.5 million.
Here are his cap numbers (if the option is exercised) --
2009 $1.9 million
2010 $2.4 million
2011 $2.7 million
2012 $3 million
2013 $3 million
If we don't exercise the option, these would be his cap numbers --
2009 $2.6 million
2010 $2.4 million
2011 $2.7 million
2012 $3 million
My guess is that whether we pay the option bonus will be determined by whether we want him for more than this season, so the date it can be exercised probably is (or should be) late enough that we should know by then. If we don't want him back, we could make it a one-year contract for $2.6 million and have no cap hit in the future. Or, we could make it a one-year contract for $3.5 million but take a cap hit that is $700,000 less this season in exchange for $1.6 million in dead money in the future. Or, we could keep him next year and however long as he's worth the contract.
Here are his cap numbers (if the option is exercised) --
2009 $1.9 million
2010 $2.4 million
2011 $2.7 million
2012 $3 million
2013 $3 million
If we don't exercise the option, these would be his cap numbers --
2009 $2.6 million
2010 $2.4 million
2011 $2.7 million
2012 $3 million
My guess is that whether we pay the option bonus will be determined by whether we want him for more than this season, so the date it can be exercised probably is (or should be) late enough that we should know by then. If we don't want him back, we could make it a one-year contract for $2.6 million and have no cap hit in the future. Or, we could make it a one-year contract for $3.5 million but take a cap hit that is $700,000 less this season in exchange for $1.6 million in dead money in the future. Or, we could keep him next year and however long as he's worth the contract.