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Jerry Richardson should send Randy Lerner a ham (PFT)

CatMan72

By CatMan72,
in Carolina Panthers

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CatMan72

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From PFT:

The Panthers cut quarterback Jake Delhomme, despite owing him $12.7 million in guaranteed money in 2010.

Thanks to Browns owner Randy Lerner, Carolina owner Jerry Richardson suddenly owes Delhomme a lot less.

Per multiple reports, Cleveland will pay Delhomme $7 million in 2010, the first year of his brand-new contract.

It doesn't necessarily mean that Delhomme will get only $5.7 million from the Panthers this year. Given that signing bonuses apply evenly to the various years of a contract (even without a salary cap in place), the Panthers might only get credit for the portion of the signing bonus that applies to the 2010 season. (Delhomme reportedly has signed a two-year deal.)

Either way, Carolina's debt to Delhomme undoubtedly has been reduced by more than a few bucks. We'll try to get the info necessary to figure out the specific numbers.

Meanwhile, the investment in Delhomme means that he'll have more than a leg up in the competition with Seneca Wallace to be the starter, even though Wallace recently said thinks he'll be the starter.

UPDATE: We're currently researching this situation. Apparently, there's a school of thought that the money is fully guaranteed. But it's our understanding that it's standard practice for guaranteed base salaries to be offset by future earnings, without the inclusion of specific language to that effect. So stay tuned. If it turns out that Delhomme gets to keep the $7 million from the Browns and the $12.7 million from the Panthers, Carolina G.M. Marty Hurney should be fired and shot, not necessarily in that order.

Link: http://profootballtalk.nbcsports.com/2010/03/13/jerry-richardson-should-send-a-ham-to-randy-lerner/

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