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In response to
"So, what's the cap hit to the Pats for releasing Hernandez this soon?"
by
Will Hunting
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Here
Posted by
Strongbad (aka Rambler14)
Jun 26 '13, 11:07
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From a salary cap perspective, Hernandez was scheduled to count $4.073 million against the Patriots' salary cap this season. That figure was comprised of a $1.323 million in fully guaranteed base salary, up to $118,000 in "per game" roster bonuses, an $82,000 workout bonus and $2.55 million in signing bonus proration. The "per game" roster bonuses are non-guaranteed and long gone, which leaves signing bonus proration ($2.5 million from last year's signing bonus plus $50,000 from his 2010 signing bonus) and the workout bonus. There have been conflicting media reports about the level of protections the Patriots received regarding the $2.46 million in fully guaranteed base salary that Hernandez was due over the 2013 and 2014 seasons. An arrest might void those guarantees, but Ian Rapoport of the NFL Network reported last week that the clauses doing so are not present.
Because the release of Hernandez occurs after June 1, the cap hit will be spread over the 2013 and 2014 seasons. Here's the annual breakdown:
2013: If the base salary guarantees in the contract do void, Hernandez will have a $2.632 million cap figure, a cap savings of $1.441 million for the Patriots. If the base salary guarantees do not void, Hernandez will count $3.955 million against this year's cap, with the team gaining $118,000 in cap space.
2014: The final three years of signing bonus proration � $7.5 million � are scheduled to accelerate onto the team's 2014 cap. That number may increase by $1.137 million, the fully guaranteed portion of his $1.2 million base salary in 2014, depending on whether or not his arrest voids the guaranteed language in his contract.
According to salary cap data maintained by "Shutdown Corner", the Patriots were $8.33 million under their adjusted cap number of $129.152 million for the 2013 season.
The Patriots could eventually receive cap credits if they successfully recover portions of Hernandez's signing bonus, which is where the financial aspect of Wednesday's release comes in.
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