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Steve Foley - Salary cap numbers

Discussion in 'Chargers Fan Forum' started by Shamrock, Sep 7, 2006.

  1. Shamrock

    Shamrock New Member

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    Pretty soon, someone will ask about the cap ramifications if the Chargers let Foley go after the 2006 season.

    Original contract Foley signed with San Diego.
    USA Today Salary database - Foley

    2004
    Base: $ 535,000
    Signing: $ 1,250,000
    Other: $ 2,500

    2005
    Base: $ 540,000
    Signing: $ 0
    Other: $ 1,751,430

    Note: I believe that 2005 $ 1.751 a one time roster bonus that was amortized against the 2005 cap. You can see that by the cap charge the Chargers took for Foley in 2005 ( $ 2,708,096 ) in the USA Today link.

    ..$417k (1/3 2004 signing bonus)
    + $ 1.751k (2005 extension roster bonus)
    + $ 540k (2005 base)

    = $2.708 mill

    NFLPA.org - Foley

    2006
    Base: $ 775,000
    Other: $ 875,000 (Roster bonus, per UT article)

    March 16th, 2005 Chargers sign Foley to three-year extension (through 2009).

    Stories like this are wrong.
    $3 mill "signing" bonus is wrong. IMO, the $3 mill is so-called guaranteed money. A combination of the 2005 $ 1.751 mill roster bonus, his 2005 base salary, and the 2006 $ 875k roster bonus. Those three amounts roughly equal $3 mill. This is where the press and agents (and radio/tv pundits) totally confuse fans about contract amounts, and how those funds are paid and spread into the current and future caps.

    *edit*
     
  2. Shamrock

    Shamrock New Member

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    2006 cap charge

    1/3 2004 signing bonus: $ 416,667
    2006 Base: $ 775,000
    2006 roster bonus: $ 875,000

    Total 2006 cap charge: $ 2,066,667

    2007 cap charge

    There will be ZERO dead space if Foley is released after 2006, because the final amortization of his 2004 signing bonus was taken against the 2006 salary cap. All other bonuses that have been paid were one time hits to the cap in the form of roster bonuses.
     
  3. exodus

    exodus Well-Known Member

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    yeah, but if he got shot off the field doing something that he shouldn't have been doing, doesn't that automatically void his contract? I thought there were all sorts of don't-do-this-or-that clauses in a typical nfl contract:icon_huh:
     
  4. Shamrock

    Shamrock New Member

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    The simple answer ......

    If the Chargers exercise their option not to pay Foley his 2006 base salary of $ 775,000, then that money will be added to the money currently available to spend in 2006 (ie, in addition to the $$$ SD is currently under the cap.)

    Foley has a current 2006 cap charge of $ 2,066,667. That is allocated against the current cap.

    If San Diego decided to try and collect the 2006 roster bonus of $ 875,000 (I'm sure the NFLPA would appeal on Foley's behalf) then that money might be added to SD's 2007 cap. Just depends on when SD asks for it and when it collects it (if they do.)
     
  5. BFISA

    BFISA Well-Known Member

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    Alla that **** makes my head essplode, but I guess its necessary :icon_eek:
     
  6. Shamrock

    Shamrock New Member

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    [​IMG]

    Can one of you photoshop gurus turn that into a 53 ???

    :bolt:
     
  7. Shamrock

    Shamrock New Member

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    One of the guys at Chargers.com posted this. Haven't found the link yet:
     
  8. Trumpet_Man

    Trumpet_Man Well-Known Member

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    :tup: COOL MOVE CHARGERS !!!! :tup:
     
  9. Shamrock

    Shamrock New Member

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    I think so too.

    It keeps the locker room focused on football, not on Foley's contract. It paints the Chargers management good in the players' eyes, while focusing any negative attention back where it belongs - on the shooter.
     

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