CFZ Let's clear up some misconceptions about Elliott's contract

[Sydla]

The part in bold has absolutely no bearing in the team's decision to keep or cut him.

They save 10.9M by cutting him. It does not matter if the savings are spead out over 2 years.

Example 1: Zeke post June 1st cut

Current Cap Hit:​	16.7​
Post June 1 Cap Hit:​	5.8​
Savings:​	10.9​

Example 2: Zeke pre June 1 cut

Current Cap Hit:​	16.7​
Post June 1 Cap Hit:​	11.8​
2023 Savings:​	4.9​
2024 Savings:​	6​

Now restructure Zack Martin to push 6M into 2024.
- In 2024 use the other 6M saved by cutting Zeke to pay for the 6M from restructuring Martin.

Result: 10.9M saved in 2023 and break-even in 2024.

No one knows what their thinking is or why or why they won't cut him.

But math isn't that hard. If they cut him now, they save only $4.9 million against this cap this year. That's simply a fact. Whether or not they do that or chose to do that or get him to take a pay cut? That's not a fact. No one knows what they will do.

But everything I laid out above and what happens if they do A or B or C is factual based on real numbers from Spotrac.

If they cut him now, he's off their books for good and they save $4.9 million on this year's cap

If they cut him as a June 1, they save $10.9 million against this year's cap (as of June 1) and can spread the dead money over two years.

If they just get him to take a pay cut for this year, they save whatever that pay cut is against this year's cap.

Yes, the trim cap hits off of future years if they cut him but most are focusing just on what we save this year.

 

[john van brocklin]

Lots of threads about what to do with Elliott so let's at least talk about his contract and the implications.

Elliott is under contract through 2026 (italics indicate prorated items).

• 2023 - Base Salary $10.9 million + Signing Bonus $1.5 million + Option $2.6 million + Restructure $1.7 million = CAP HIT $16.7 million
• 2024 - Base Salary $10.0 million + Option Bonus $2.6 million + Restructure $1.7 million = CAP HIT $14.3 million
• 2025 - Base Salary $15.4 million + Restructure $1.7 million = CAP HIT $17.1 million
• 2026 - Base Salary $16.6 million = CAP HIT $16.6 million

All numbers in italics have to be accounted for at some point - either in the year schedule or advanced into another time frame if cut.

Now a few comments:

One, the Cowboys owe Elliott nothing but his base salary of $10.9 million this year. That's it. There were some saying that he gets like $5 million over his base if cut but that's not true. The only new money owed to Elliott is the base for 2023.

Two, if you cut him right now, you technically do save $10.9 million in base salary (against the cap) but in reality, you only save around $4.9 million against the cap. Why? Because in cutting him now, you have to advance all that future prorated crap into this year. So math wise:

• 2023 CAP HIT $16.7 million - Base Salary of $10.9 million + 2024 Option $2.6 million + 2024 Restructure $1.7 million + 2025 Restrucure $1.7 million = NEW CAP HIT of $11.8 million (or the "dead cap" number).

Subtract the original 2023 cap hit from the new cap hit and there is your cap savings for 2023 = $4.9 million.

The math changes slightly if you make him a June 1 cut because it allows you to spread the dead money over two years. Essentially a June 1 cut would result in the cap savings equaling the $10.9 million base salary and then all the prorated stuff gets split between 2023 and 2024. Basically all the prorated stuff for 2023 is charged in 2023 and then all the remaining prorated stuff is a cap hit in 2024.

Now as it comes down to how to deal with Elliott, there are two thought processes here. One is, just get him off the books and not have to deal with him anymore. Two is, maximize the cap savings THIS YEAR if you want free up as much cap space pre-June 1 to sign a quality free agent. One is just a cut and then determine if you need that $4.9 million savings NOW or you can wait (and move some other contracts around) to pocket the $10.9 million after June 1.

*** Another myth - a June 1 cut means the team still has to carry Elliott's contract on its' books until June 1. You can't cut him now, call him a June 1 cut and get his $10.9 million savings now. Elliott's contract has to be on our books until June 1 and we have to be cap compliant up until that point ***

Now if you are looking for maximum cap savings at the start of FA, getting him to take a massive pay cut is the best option. Because in a pay cut, you don't change the structure of the prorated stuff. It still is charged against the cap in those future years according to the schedule above. The only thing that changes is the base salary and that's a direct savings against the cap. So if you cut his base from $10.9 million to $2 million, that's a direct savings now of $8.9 million.

Thanks,
I thought you could designate a June 1st cut now, and get the financial benefits immediately?

 

[Coogiguy03]

Lots of threads about what to do with Elliott so let's at least talk about his contract and the implications.

Elliott is under contract through 2026 (italics indicate prorated items).

• 2023 - Base Salary $10.9 million + Signing Bonus $1.5 million + Option $2.6 million + Restructure $1.7 million = CAP HIT $16.7 million
• 2024 - Base Salary $10.0 million + Option Bonus $2.6 million + Restructure $1.7 million = CAP HIT $14.3 million
• 2025 - Base Salary $15.4 million + Restructure $1.7 million = CAP HIT $17.1 million
• 2026 - Base Salary $16.6 million = CAP HIT $16.6 million

All numbers in italics have to be accounted for at some point - either in the year schedule or advanced into another time frame if cut.

Now a few comments:

One, the Cowboys owe Elliott nothing but his base salary of $10.9 million this year. That's it. There were some saying that he gets like $5 million over his base if cut but that's not true. The only new money owed to Elliott is the base for 2023.

Two, if you cut him right now, you technically do save $10.9 million in base salary (against the cap) but in reality, you only save around $4.9 million against the cap. Why? Because in cutting him now, you have to advance all that future prorated crap into this year. So math wise:

• 2023 CAP HIT $16.7 million - Base Salary of $10.9 million + 2024 Option $2.6 million + 2024 Restructure $1.7 million + 2025 Restrucure $1.7 million = NEW CAP HIT of $11.8 million (or the "dead cap" number).

Subtract the original 2023 cap hit from the new cap hit and there is your cap savings for 2023 = $4.9 million.

The math changes slightly if you make him a June 1 cut because it allows you to spread the dead money over two years. Essentially a June 1 cut would result in the cap savings equaling the $10.9 million base salary and then all the prorated stuff gets split between 2023 and 2024. Basically all the prorated stuff for 2023 is charged in 2023 and then all the remaining prorated stuff is a cap hit in 2024.

Now as it comes down to how to deal with Elliott, there are two thought processes here. One is, just get him off the books and not have to deal with him anymore. Two is, maximize the cap savings THIS YEAR if you want free up as much cap space pre-June 1 to sign a quality free agent. One is just a cut and then determine if you need that $4.9 million savings NOW or you can wait (and move some other contracts around) to pocket the $10.9 million after June 1.

*** Another myth - a June 1 cut means the team still has to carry Elliott's contract on its' books until June 1. You can't cut him now, call him a June 1 cut and get his $10.9 million savings now. Elliott's contract has to be on our books until June 1 and we have to be cap compliant up until that point ***

Now if you are looking for maximum cap savings at the start of FA, getting him to take a massive pay cut is the best option. Because in a pay cut, you don't change the structure of the prorated stuff. It still is charged against the cap in those future years according to the schedule above. The only thing that changes is the base salary and that's a direct savings against the cap. So if you cut his base from $10.9 million to $2 million, that's a direct savings now of $8.9 million.

IN ENGLISH ALL THIS MEANS?? SO TIRED of numbers, and stats!!! Let's just play football uhhh!!!!!

 

[kumizi]

I dont give a ****. I see a really bad football player I dont want on my team.

 

[CT Dal Fan]

Alright but what if Elliott agrees to a pay cut? Do the remaining years on his deal still matter or does this contract basically get torn up and replaced?

I mean if we can keep Zeke at the veteran minimum he could still be a useful short-yardage and goal line option.

 

[ChronicCowboy]

Considering his dead cap, if we can get him to take a drastic pay-cut, it’s the best move. He’s a quality back-up and fullback option.

 

[glimmerman]

He said he would take a pay cut. Let’s see how much…

 

[JackOfNoTrades]

Lots of threads about what to do with Elliott so let's at least talk about his contract and the implications.

Elliott is under contract through 2026 (italics indicate prorated items).

• 2023 - Base Salary $10.9 million + Signing Bonus $1.5 million + Option $2.6 million + Restructure $1.7 million = CAP HIT $16.7 million
• 2024 - Base Salary $10.0 million + Option Bonus $2.6 million + Restructure $1.7 million = CAP HIT $14.3 million
• 2025 - Base Salary $15.4 million + Restructure $1.7 million = CAP HIT $17.1 million
• 2026 - Base Salary $16.6 million = CAP HIT $16.6 million

All numbers in italics have to be accounted for at some point - either in the year schedule or advanced into another time frame if cut.

Now a few comments:

One, the Cowboys owe Elliott nothing but his base salary of $10.9 million this year. That's it. There were some saying that he gets like $5 million over his base if cut but that's not true. The only new money owed to Elliott is the base for 2023.

Two, if you cut him right now, you technically do save $10.9 million in base salary (against the cap) but in reality, you only save around $4.9 million against the cap. Why? Because in cutting him now, you have to advance all that future prorated crap into this year. So math wise:

• 2023 CAP HIT $16.7 million - Base Salary of $10.9 million + 2024 Option $2.6 million + 2024 Restructure $1.7 million + 2025 Restrucure $1.7 million = NEW CAP HIT of $11.8 million (or the "dead cap" number).

Subtract the original 2023 cap hit from the new cap hit and there is your cap savings for 2023 = $4.9 million.

The math changes slightly if you make him a June 1 cut because it allows you to spread the dead money over two years. Essentially a June 1 cut would result in the cap savings equaling the $10.9 million base salary and then all the prorated stuff gets split between 2023 and 2024. Basically all the prorated stuff for 2023 is charged in 2023 and then all the remaining prorated stuff is a cap hit in 2024.

Now as it comes down to how to deal with Elliott, there are two thought processes here. One is, just get him off the books and not have to deal with him anymore. Two is, maximize the cap savings THIS YEAR if you want free up as much cap space pre-June 1 to sign a quality free agent. One is just a cut and then determine if you need that $4.9 million savings NOW or you can wait (and move some other contracts around) to pocket the $10.9 million after June 1.

*** Another myth - a June 1 cut means the team still has to carry Elliott's contract on its' books until June 1. You can't cut him now, call him a June 1 cut and get his $10.9 million savings now. Elliott's contract has to be on our books until June 1 and we have to be cap compliant up until that point ***

Now if you are looking for maximum cap savings at the start of FA, getting him to take a massive pay cut is the best option. Because in a pay cut, you don't change the structure of the prorated stuff. It still is charged against the cap in those future years according to the schedule above. The only thing that changes is the base salary and that's a direct savings against the cap. So if you cut his base from $10.9 million to $2 million, that's a direct savings now of $8.9 million.

oh Lord, what a bad contract. Do we even have a GM?

 

[nightrain]

It's mind numbing to think the Cowboys are staring down the barrel of a $16M+ payment to a RB who has been declining for a number of years and the Owner/GM still wants to keep his lack of production on the roster.

 

[Bobhaze]

I am in the just cut him and move on. Yes, you don't save as much in actual cap space for 2023 by cutting his base salary (pre June 1), but as others have noted, the other component here is his being on the roster means he'll get used, probably moreso than he should.

To me, just thank him for his service and rip off the bandaid and cut him.

Cutting Zeke as a post June 1 is what most good football organizations would do. Once a big time player is declining, you don’t wait, you move on. And good football orgs move on a year early, not a year late.

This organization has always hung on too long to their favorites- players they fall in love with, spend cap space on, but also players that don’t really get you closer to where you’ve been. That’s Zeke. If we want to get closer to a championship, he’s got to go. Keeping Zeke is counter productive to a championship IMO.

 

[Jarv]

Male him part of a trade package, no bites then just cut him and wash your hands.

Zeke, thanks for those first few years.

 

[visionary]

He could play for the vet min and I’d still move on to a young guy. Zeke is slow and good as a pass protector or a short yardage guy but that’s it.

This
He’s done
Don’t waste a roster spot on him
Get a young guy

 

[Mr Cowboy]

Agree to a pay cut and then cut him on the last cuts before the season!

 

[Mr Cowboy]

Lots of threads about what to do with Elliott so let's at least talk about his contract and the implications.

Elliott is under contract through 2026 (italics indicate prorated items).

• 2023 - Base Salary $10.9 million + Signing Bonus $1.5 million + Option $2.6 million + Restructure $1.7 million = CAP HIT $16.7 million
• 2024 - Base Salary $10.0 million + Option Bonus $2.6 million + Restructure $1.7 million = CAP HIT $14.3 million
• 2025 - Base Salary $15.4 million + Restructure $1.7 million = CAP HIT $17.1 million
• 2026 - Base Salary $16.6 million = CAP HIT $16.6 million

All numbers in italics have to be accounted for at some point - either in the year schedule or advanced into another time frame if cut.

Now a few comments:

One, the Cowboys owe Elliott nothing but his base salary of $10.9 million this year. That's it. There were some saying that he gets like $5 million over his base if cut but that's not true. The only new money owed to Elliott is the base for 2023.

Two, if you cut him right now, you technically do save $10.9 million in base salary (against the cap) but in reality, you only save around $4.9 million against the cap. Why? Because in cutting him now, you have to advance all that future prorated crap into this year. So math wise:

• 2023 CAP HIT $16.7 million - Base Salary of $10.9 million + 2024 Option $2.6 million + 2024 Restructure $1.7 million + 2025 Restrucure $1.7 million = NEW CAP HIT of $11.8 million (or the "dead cap" number).

Subtract the original 2023 cap hit from the new cap hit and there is your cap savings for 2023 = $4.9 million.

The math changes slightly if you make him a June 1 cut because it allows you to spread the dead money over two years. Essentially a June 1 cut would result in the cap savings equaling the $10.9 million base salary and then all the prorated stuff gets split between 2023 and 2024. Basically all the prorated stuff for 2023 is charged in 2023 and then all the remaining prorated stuff is a cap hit in 2024.

Now as it comes down to how to deal with Elliott, there are two thought processes here. One is, just get him off the books and not have to deal with him anymore. Two is, maximize the cap savings THIS YEAR if you want free up as much cap space pre-June 1 to sign a quality free agent. One is just a cut and then determine if you need that $4.9 million savings NOW or you can wait (and move some other contracts around) to pocket the $10.9 million after June 1.

*** Another myth - a June 1 cut means the team still has to carry Elliott's contract on its' books until June 1. You can't cut him now, call him a June 1 cut and get his $10.9 million savings now. Elliott's contract has to be on our books until June 1 and we have to be cap compliant up until that point ***

Now if you are looking for maximum cap savings at the start of FA, getting him to take a massive pay cut is the best option. Because in a pay cut, you don't change the structure of the prorated stuff. It still is charged against the cap in those future years according to the schedule above. The only thing that changes is the base salary and that's a direct savings against the cap. So if you cut his base from $10.9 million to $2 million, that's a direct savings now of $8.9 million.

Please do an analysis on Lawrence. We got the same amount of sacks from Sam and Armstrong last year as we did from Lawrence. The Cowboys should try to trade him, cut him or agree to a major cut.

 

[fivetwos]

Thinking more on this….I actually can’t even believe keeping this guy is some sort of debate. I really cant.

Do they do this on purpose to keep people talking about the team?

No one can possibly defend bringing this guy back….and I don’t want to hear about stats. They force fed him opportunity because of his contract and will do it again if he is on the team next year.

I don’t see how any fan of this team doesn’t want fresh legs at RB.

 

[fivetwos]

Please do an analysis on Lawrence. We got the same amount of sacks from Sam and Armstrong last year as we did from Lawrence. The Cowboys should try to trade him, cut him or agree to a major cut.

They just did that last year with him on a new three year deal, with 30 of the 40 million guaranteed. He is on the team this year for sure.

And surely you understand that there’s plenty more to defensive end play than sacks numbers, yes?

He is still playing at a high level and very worth his pay at the moment, but you’re right, he isn’t the sack guy that Jerry wanted to pay into existence.

 

[Mr Cowboy]

They just did that last year with him on a new three year deal, with 30 of the 40 million guaranteed. He is on the team this year for sure.

And surely you understand that there’s plenty more to defensive end play than sacks numbers, yes?

He is still playing at a high level and very worth his pay at the moment, but you’re right, he isn’t the sack guy that Jerry wanted to pay into existence.

No he's not, his contract is in line with Darnold and Bosa and his production is not. This is the problem that Jerry has, he is to loyal and won't get rid of players until it's too late.

But I'm sure we'll have Lawrence, Zeke and Tyron back this year and people will be hollering about Daks contract but not these!

Dak's contract is in line with other QBs. The other 3 are way over paid and is why we can't sign FAs.

 

[irishline]

Thanks,
I thought you could designate a June 1st cut now, and get the financial benefits immediately?

Nope. I believe it gets you under the cap for league purposes but you cannot use the savings until after June 1st. Could be wrong though on that point.

"However, no matter when a player is cut, whether before or after June 1, if he is designated a June 1 cut the team cutting him does not realize any cap savings until after June 1. So a player cut in March but designated a June 1 cut remains on the books of the team cutting him for salary cap purposes even though he is free to sign with any other team immediately."

https://www.ganggreennation.com/2020/3/19/21186561/understanding-the-post-june-1-designation

 

[stinkface]

Alright but what if Elliott agrees to a pay cut? Do the remaining years on his deal still matter or does this contract basically get torn up and replaced?

I mean if we can keep Zeke at the veteran minimum he could still be a useful short-yardage and goal line option.

He won't play for the minimum. Too much pride and too much of a cut. Sign up Jamaal Williams from Detroit. Had 17 touchdowns last year and over 1,000 yards. Will be a heckuva lot cheaper then Zeke with more production. Jamaal is a free agent.

 

[zeke21]

Sad that his legacy will not be what it once promised to be. If you throw up his first 3-4 years of production.. he was a true superstar. BUT surely you can't waste a roster spot on him again.. has absolutely lost a step and can't hit the holes.

I suspect IF he agreed to take vet min.. then possibly they keep him as short yardage/FB specialist.. and I could be convinced he wouldn't be the worst 53rd man out there.