(Mods, if my post doesn't fit into this thread feel free to move it)
Matt Flynn's contract will be asked about plenty this off-season, so I've been working on it, and hopefully I can lay out all the useful information people want to know. It's a bit complicated, so bare with me. Also, please, correct me if my figures or math is wrong.
a. According to Sportrac
, Flynn's contract is $19.5 million over 3 years (with an additional 7 million in escalators, but ignore that. He won't receive it as a backup).
b. Of the realistic $19.5m contract, 10 million is guaranteed. After a 2m base salary and 2m signing bonus in 2012, he still has 6 million left guaranteed over the life of his contract; a remaining 4m in signing bonus (spread over two years) and 2m which comes elsewhere (base salary or dead cap space should he be cut).
c. Cutting Flynn before the 2013 season would cost 6 million in cap hit, spread over one or two years to cover his guaranteed money (Either 4m in 2013 + 2m in 2014 OR
6m in 2013. Thanks to mikeak for the correction
), unless he is claimed off waiver. see point k.
d. If he was still on the roster next season, his base salary (5.25m) + his signing bonus (2m) would be a cap hit of 7.25m in 2013 and we would STILL be owed 2m in 2014 because his signing bonus in '14 is not included with his '13 base salary.
So, if we cut him before the 2014 season, his total two year cap hit would be $9.25 million w/ one season of play. (5.25m base salary + (2m + 2m signing bonus) = $9.25m)
e. If Flynn was to play two seasons, his total two-year cap hit would be 15.5m (4m in signing bonus + (5.25m + 6.25m base salary) = $15.5m).
f. The difference in cap space savings is $3.25 million if we cut
him before the '13 season versus cutting him before 2014. (9.25m - 6m = $3.25m). Essentially, it costs us 3.25m more
to keep him for next season and then cut him.
g. The difference in cap space loss
is $1.25m if
we can trade
him before the '14 season versus cutting him before 2013. (6m - 7.25m = -1.25m). Essentially, he would costs us 1.25m more
to keep him next season if we can trade him outright before the '14 season. (Writer's note: It must be absolutely certain he can be traded before the '14 season to think of the numbers this way.
h. The cost to replace Flynn's roster spot starts with the minimum allowed salary (~$450,000) and should be compared against the 3.25m or 1.25m it cost to keep
Flynn. (Ex. $3.25m - $450,000 = $2.8m cap saving)
i. Trading him outright before next season would save a total cap space of $11.5m over two years.
j. Trading him before the '14 season would save a cap space of $6.25m in 2014.
k. Should Flynn be cut and claimed of wavier wire by another team, they would take on the money owed for the base salary of Flynn's current contract which would include the 2 million portion of guaranteed money the Seahawks owe. Essentially, the cap hit would be reduced to $4m (from the signing bonus), instead of the original $6m. Writer's note: Additionally, figures in c., f., and h. would need to be adjusted. Example: (f.) 9.25m - 4m = 5.25m cap space saved
This post is not meant to start a Flynn cut/trade discussions here in this thread, but is purely Cap Salary information you can use in other, more appropriate threads. (Unless the OP's goal was to allow all player trade/cut discussion to be here?).
Edit: Added an alphabetic format and corrected g.
Edit: Added and confirmed k.
Edit: Corrected and confirmed i. & j.