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

[big dog cowboy]

They're dumb enough to keep him.

Unfortunately this is so true.

 

[big dog cowboy]

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

He has no trade value. Big name? Yes. That's about it. The talent just isn't there. Add in his contract, no one would give up a 7th for him.

 

[fivetwos]

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.

I agree with your point, and I’m not defending anyone in this FO by a longshot, but DLaws new contract isn’t the same as Darnold.

It’s honestly team friendly at this point. The big cap hits are dead money from restructures on the original contract….the one he used refusing to get shoulder surgery to get…when Jerry figured paying him like a sack guy would turn him into one.

I honestly can’t believe Jerry lost THAT negotiation also. A player tells you they won’t get surgery if you don’t give them a new contract. He wasn’t THAT important, but that just tells you how “close” they THINK they are, yet aren’t. It would be comical if not so damn sad.

 

[john van brocklin]

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

Thanks

 

[Cowboys5217]

They're dumb enough to keep him.

It'll be a big sign that they are not serious about making it to the Super Bowl.

 

[Havic]

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.

Not even a good pass protector according to PFF.

 

[Sydla]

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

No, as a June 1 cut, you have to carry his cap hit until June 1.

 

[Motorola]

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

You've got to wait 6 more months = Thursday September 7th.
Alternatives:
(Revised\renewed) XFL...week 3 was this weekend (yesterday and today)
USFL - 2nd season of the comeback...April 15th

 

[john van brocklin]

No, as a June 1 cut, you have to carry his cap hit until June 1.

Thanks

 

[LatinMind]

Exactly. Restructure doesn't work for me at all. We would get more production from a drafted rookie in the 3rd or 4th.

This isn't a issue about Zeke's deal. It's a issue of his roster spot. Because I don't think he deserves one.

Just draft a back and make Zeke June 1st cut. That is what's best for both the roster and salary cap.

That is smart, but if Elliot agrees to what the team proposes its all a moot point. You play him this yr, still draft a guy and move on next yr. If he doesn't make the cut then so be it, you lose the vet min if that's what they give him.

 

[Kingofholland]

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.

Great breakdown. Never been opposed to keeping Zeke, he did score 12 tds each season the last 2 years. That does carry some value, despite what anyone thinks of his production.

If the Cowboys could shave 8-10 million off the cap hit from a Zeke paycut I think he'll be here. Whether if he except that and a reduced role is the biggest question of this offseason.

 

[Jipper]

It'll be a big sign that they are not serious about making it to the Super Bowl.

Well yeah did you see him get blown up on the last play at sf....that killed his ranking hahaha

 

[RustyBourneHorse]

People think yeah they save 5mil, no you pay 11mil to get rid of him. And pile on the money you pay his replacement.

Paycut is the best option for the team.

Lol I asked somebody earlier is 6mil worth 800 yards and 12 tds. He said any rb in the draft can do that. Only 5 rbs in the nfl got 12 or more. And did with more carries except for ekler

Not to mention that Zeke was stating that he is open to a paycut. If the FO and Zeke can come to an agreement on a paycut, that might be the best case scenario for the team. Plus, I think Mike will be able to make the most of Zeke. Especially since he'd like to run the ball more this year.

 

[kskboys]

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.

Good stuff, but you forgot to add in the prorated signing bonus. Add 10.9 mil and 1.5 mil. Cap hit: 11.4 mil

 

[kskboys]

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.

EZ does not hit the hole fast enough anymore to be a short yardage back.

 

[kskboys]

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

Zeke, thanks for those first few years.

Zeke is not tradeable. You'd have to give up picks to get someone to take on his salary.

 

[jazzcat22]

EZ does not hit the hole fast enough anymore to be a short yardage back.

What holes. The OL provided nothing. Hard to find holes with 8 or 9 in the box. But Moore insisted on still running them.

 

[basel90]

Cut the cancer

 

[Landryhat73]

Dallas really isn’t in much of a hurry to make a decision on Zek because we probably aren’t going to use the cap savings with a drastic salary cut or a straight out release until we need to sign out draft picks. It might be a similar situation to Ware in which the Jones will do what is best for the player. Only difference is Zek is probably looking at the vet minimum.

 

[Sydla]

Good stuff, but you forgot to add in the prorated signing bonus. Add 10.9 mil and 1.5 mil. Cap hit: 11.4 mil

Prorated signing bonus ends this year. So it’s in the 2023 calculation above but this is the last year they have to account for it.