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VICK CAP HIT WOULDN'T BE CRIPPLING
We've posted a few times since Mike Vick showed his middle finger to a group of lingering home fans in November 2006 an explanation of the cap hit that would result from cutting or trading him.
In light of the rumors that the team could be planning to move on (or move out), we thought that a refresher would be in order.
If Vick is cut after June 1 (or on or before June 1 as a post-June 1 casualty), a cap charge of $7.57 million would apply in 2007. But by avoiding his $6 million salary that currently is on the books for 2007, the Falcons would suffer a net hit of only $1.57 million this year.
The bulk of the cap charge would come in 2008, when the remainder of Vick's unallocated bonus money would hit the cap. The gross hit in 2008 would be $14.68 million. But since the team also would avoid Vick's $7.5 million salary for 2008, the net hit would be $7.18 million.
Though the number seems high in isolation, it's still less than seven percent of the total cap dollars available next year.
The same cap consequences would apply if Vick were traded after June 1. But we can't imagine that anyone would take on his contract at this point, and we likewise doubt that Vick would be inclined to renegotiate it.
Of course, the cap consequences would be adjusted if Vick were to successfully argue that the Falcons cut him not due to skill but as an act of discipline. In that case, his $6 million salary for 2007 would hit the cap at some point, too.
We've posted a few times since Mike Vick showed his middle finger to a group of lingering home fans in November 2006 an explanation of the cap hit that would result from cutting or trading him.
In light of the rumors that the team could be planning to move on (or move out), we thought that a refresher would be in order.
If Vick is cut after June 1 (or on or before June 1 as a post-June 1 casualty), a cap charge of $7.57 million would apply in 2007. But by avoiding his $6 million salary that currently is on the books for 2007, the Falcons would suffer a net hit of only $1.57 million this year.
The bulk of the cap charge would come in 2008, when the remainder of Vick's unallocated bonus money would hit the cap. The gross hit in 2008 would be $14.68 million. But since the team also would avoid Vick's $7.5 million salary for 2008, the net hit would be $7.18 million.
Though the number seems high in isolation, it's still less than seven percent of the total cap dollars available next year.
The same cap consequences would apply if Vick were traded after June 1. But we can't imagine that anyone would take on his contract at this point, and we likewise doubt that Vick would be inclined to renegotiate it.
Of course, the cap consequences would be adjusted if Vick were to successfully argue that the Falcons cut him not due to skill but as an act of discipline. In that case, his $6 million salary for 2007 would hit the cap at some point, too.
