Seahawks just restructured the prez

[nanomoz]

They weren't over the cap, were they? Something has to be in the works.

 

[LastRideOut]

They weren't over the cap, were they? Something has to be in the works.

I believe the Seahawks were tight on cap space.

 

[LTH]

I believe the Seahawks were tight on cap space.

My understanding is after all was said and done,they around 2 million.

 

[GGotskill]

My understanding is after all was said and done,they around 2 million.

I think I read they were just over $3m before the restructure and around $10m after.

 

[nanomoz]

I think I read they were just over $3m before the restructure and around $10m after.

I'm off. I thought they were around 6-9 available before this. I was missing something.

 

[morgulon1]

Easy bud lol I was at 7-Eleven waiting for my wife to get a slurpie.

Slurpees are pretty damn good.

 

[Cyrus12]

So when he gets cut next year what is the cap hit?

 

[onanygivensunday]

I'm off. I thought they were around 6-9 available before this. I was missing something.

Based on the calendar, the salary cap rules changed... so that all PS and IR players' salaries counted against the cap... not just the top 51.

 

[AgentDib]

the Seahawks were going to keep him for 2023 at $11M... it made sense to restructure his contract. His new salary is vet minimum and the rest as a pro-rata signing bonus over the 3 remaining years of his contract. It's still the full $11M. This move is exactly as expected, although it's not what some hoped for.

Could you provide a bit more detail about why you think this made sense? As far as I'm aware, all we are doing here is borrowing $6.6m from 2024 and 2025. Slightly better for this year, slightly worse for those years.

If we had a single year window then it would make sense, but the exciting part of this team is all the promising youth we have added who should continue to get better over the next few years. This move has a steep discount rate influenced by the FO wanting to win now, and long-term fans with low discount rates should push back for more emphasis on future season upside. I certainly don't feel like we are done building the team to where we can start sacrificing the future for the present, but rather that we need to keep building it up to a better level in the future.

 

[Sgt. Largent]

Interesting to see if they make a move. I dont think they had to do that. There has to be a reason why.

LTH

I think they did have to do it, they only had what, like 2-3M of cap space for the rest of the year?

I don't like pushing more dead cap on a player we're probably going to cut next year. But not sure who else they could have restructured to open up the necessary cap to finish the season with space to sign players for injuries, etc.

 

[sutz]

It’s a big can to kick down the road

You shouldn't talk about his wife like that.

Not surprising. They take one of the biggest salaries on the team and restructure. Always want some wiggle room on the cap if you can swing it.

 

[sutz]

Based on the calendar, the salary cap rules changed... so that all PS and IR players' salaries counted against the cap... not just the top 51.

Happens every year at this time. Goes from highest 51 of 90 counting to all 53.

 

[JustTheTip]

Slurpees are pretty damn good.

I prefer icees, but that is probably just nostalgic throwback to being in Kmart when I was a kid.

 

[morgulon1]

I prefer icees, but that is probably just nostalgic throwback to being in Kmart when I was a kid.

It's been so long I don't remember the difference. Yes , Kmart was an event when I was young.

Blue light special baby!!

 

[flv2]

Could you provide a bit more detail about why you think this made sense? As far as I'm aware, all we are doing here is borrowing $6.6m from 2024 and 2025. Slightly better for this year, slightly worse for those years.

If we had a single year window then it would make sense, but the exciting part of this team is all the promising youth we have added who should continue to get better over the next few years. This move has a steep discount rate influenced by the FO wanting to win now, and long-term fans with low discount rates should push back for more emphasis on future season upside. I certainly don't feel like we are done building the team to where we can start sacrificing the future for the present, but rather that we need to keep building it up to a better level in the future.

What you've said about borrowing cap space is exactly what is happening. The Seahawks have converted Adams' $11M salary into a $1.08M salary with a $9.92M signing/restructure bonus. Adams still gets all $11M this season but the Seahawks only have to account for one third of the $9.92M signing bonus this year. It's not a criticism of the Seahawks. It's an expected common sense move. If the Seahawks don't spend the money elsewhere then it doesn't make future cap years worse. The purpose is to increase current year cap flexibility. It doesn't change Adams situation going into 2024.

 

[LTH]

I think they did have to do it, they only had what, like 2-3M of cap space for the rest of the year?

I don't like pushing more dead cap on a player we're probably going to cut next year. But not sure who else they could have restructured to open up the necessary cap to finish the season with space to sign players for injuries, etc.

I think that is a reasonable assertion. I guess we will find out soon enough.

 

[LTH]

I think they did have to do it, they only had what, like 2-3M of cap space for the rest of the year?

I don't like pushing more dead cap on a player we're probably going to cut next year. But not sure who else they could have restructured to open up the necessary cap to finish the season with space to sign players for injuries, etc.

On the flip side of that, as close as I can tell they should have about 9 or10 million after the restructure and that is more than they need for what you are talking about. So why did they clear that much? Of course few really know the exact cap number but I think that is close. They could make a move if they felt they needed to... we will see...

 

[Sgt. Largent]

On the flip side of that, as close as I can tell they should have about 9 or10 million after the restructure and that is more than they need for what you are talking about. So why did they clear that much? Of course few really know the exact cap number but I think that is close. They could make a move if they felt they needed to... we will see...

From all the articles I read yesterday about this, most said you really need around 10M of cap going into the season for mid to late season necessary injury and depth signings.

So not sure this means something's in the works now. Even Pete said yesterday he's happy with the roster the way it is going into the season.

 

[CPHawk]

Saw some people floating the idea of Vita Vea on Reddit.

Is he any good? Should make a trade.

 

[Hawkstorian]

What you've said about borrowing cap space is exactly what is happening. The Seahawks have converted Adams' $11M salary into a $1.08M salary with a $9.92M signing/restructure bonus. Adams still gets all $11M this season but the Seahawks only have to account for one third of the $9.92M signing bonus this year. It's not a criticism of the Seahawks. It's an expected common sense move. If the Seahawks don't spend the money elsewhere then it doesn't make future cap years worse. The purpose is to increase current year cap flexibility. It doesn't change Adams situation going into 2024.

Just quoting this response, because it is the correct take. This isn't about Adams at all, this is just about shifting accounting to give some 2023 flexibility. The issue for 2024 is not his cap figure. That's a whole lot of sunk cost. The only issue is his non-guaranteed $16.5M salary. If the team doesn't see that value for the 2024 season they can release him and save those dollars.