Gross restructured

[carolina-chuck]

Dammit, Michael Huff just signed with the Ravens. Please go get Alan Branch!

Amen

[Jakob]

Gross is da man.

[Guest shitposting]

Gross is true bro.

[Sod]

Now we can afford to cut DWill for more future cap savings

[bigskypanthersguy]

You win all of the internet.

[Udogg]

Now we can afford to cut DWill for more future cap savings

Still makes more sense to do it next year imo.

[bigskypanthersguy]

i bet joe person knows nothing about this yet

Joe Person hasn't found out they found Carruth in the trunk of that car, yet. Give the man some time...

[JawnyBlaze]

Re: now we have money to sign our draft picks, we already did for the most part. James Anderson's contract comes off the books June 1st, which will account for at least most of what we need to sign draft picks. Whatever we have in cap space now, we should be able to spend most of it in FA.

And to Mr. Gross, we salute you.

[panthers55]

Yeah, but he'll probably retire, get cut, traded or restructure again before those later years that we are pushing his cap hit towards. He is 32 after all.

Check out what someone on twitter said about it: Nick Mensio ‏@NickMensio

All those extra years on Gross' deal in the NFLPA system are just dummy years to bring the 2013 cap hit down, then, it appears. #Panthers

Actually I expect him to stay here for this year and next at least. Otherwise restructuring just gives us dead cap space next year if we trade him or cut him or he retires. The only way to mitigate some of that is to make any moves next year a June 1st designation which spreads out the hit over 2 years. But the dummy years theory just defers the hit, it doesn't make it go away. Gettleman said his contract restructurings are designed for the long term so obviously this isn't just a 2013 solution if he is to be believed.

[panthers55]

I know it sounds weird, but I don't put anything past anyone in the NFL. lol

I've seen a few different places reporting the 3 year extension though, so I'll go with that one which makes it a good deal.

Cap hits for the next three years on the deal are

2013 - 1 million base + 900k + bonuses from previous deal puts it around 4 million (saving the team 7 million)

2014 - 1 million base + 900k + 2 million roster + previous deal bonus money- 4.9 million cap hit

2015 - 1.9 million total cap hit

2016 - 1.9 million total cap hit

2017 - 1.9 million total cap hit

Saves the team roughly 12-14 million over the next two years.

His previous deal would have counted for a 3 million cap hit this season or a 1 million cap hit next season if cut either year as he didn't have a ton of bonus money floating in his contract.

Assuming this is correct, then he is not going to be playing beyond 2014 which still gives us 6 million in dead cap space in 2015 when he doesn't return, right?? Otherwise his salary for 2015 and beyond hasn't been figured in and when restructured will raise his cap hit in those years significantly.

[carpanfan96]

Assuming this is correct, then he is not going to be playing beyond 2014 which still gives us 6 million in dead cap space in 2015 when he doesn't return, right?? Otherwise his salary for 2015 and beyond hasn't been figured in and when restructured will raise his cap hit in those years significantly.

The cap hit in 2014 is 5.6 million, that's the correct numbers and years of the deal but once day 5 of the league year hits his deal voids out the 2014-2017 years of the contract. essentially making it a one year deal worth 5.5 million that brings his cap hit down this season to 4.9 and his cap hit up next season to 5.6. After that he has no impact on the Panther's salary cap.

[DaCityKats]

who is that?

[R0CKnR0LLA]

3.2 million dollar paycut going from 8.7M salary to 5.5M

gives us 6.8M in extra cap space this year with 3.6M in dead money being pushed to the future

[ladypanther]

from the CO...Jones....

http://blogs.charlotte.com/panthers/2013/03/jordan-gross-restructures-deal-to-help-panthers-with-cap-space.html

Veteran left tackle Jordan Gross has taken one for the team.

The former first round pick entering his 11th season took a pay cut this offseason to help Carolina with its salary cap situation while picking up a contract extension through 2017.

According to an Associated Press report, Gross' base salary of $8.7 million for 2013 will be cut to $1 million, and his $6.7 million base salary in 2014 will be cut to $1 million.

Though his base salary goes to $1 million for 2013, Gross will still receive a salary of $5.5 million by virtue of a $4.5 million signing bonus on his extension, according to ESPN.com.

Gross, who was scheduled to become an unrestricted free agent at the end of the 2014 season, is the second-longest tenured Panther in the locker room and holds the franchise record for most career starts with the team (151). Gross will make $1 million in base salary from 2014-2017 and will receive a roster bonus of $2 million in 2014, according to ESPN.com.

The Panthers were between $1 to $2 million under the cap before Gross took his cut. The move takes Gross' cap figure for 2013 from $11.7 million to $4 million and gives the Panthers nearly $7 million more in cap room.

“I’ve given 10 years to the Panthers and the Panthers have given 10 years to me. And nobody wants this organization to win more than I do,” Gross told the Observer earlier in March. “I’d love to be a part of the equation for success in 2013. This is just something that has to get worked out.”

Does not mention next year.....sigh.

I always thought Gross would restructure. Getting $7mil this year is more than expected. As someone else said before, likely Gettleman likely was saving this...holding his cards. He said he had a plan. So far I am impressed.

Kudos for Gross. He has been a leader and a class act.