Players Cut & Dead Money

With players getting cut and signed by another team, this got me curious.

Let's say the Seahawks cut Player X but still owe Player X 4 millions out of the 8 millions he's due next season.
Player X is then picked up and signed by another team for 6 million a year next season.
Will Player X receive a total of 10 million to play next season?
How will the money get distributed between the parties involved?

See: Houchmanzadeh. We paid him a lot of money to play for Baltimore. And it was worth every penny, since they were not my pennies.

In your example, odds are the dead money (4 mill) was likely paid out in a signing bonus years earlier. The team was due to pay him an additional 4. The player will bank just the 6 mill

WilsonLegend":ujlpvzic said:

With players getting cut and signed by another team, this got me curious.

Let's say the Seahawks cut Player X but still owe Player X 4 millions out of the 8 millions he's due next season.
Player X is then picked up and signed by another team for 6 million a year next season.
Will Player X receive a total of 10 million to play next season?
How will the money get distributed between the parties involved?

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Unless it was dead money from a previous season, player X would get $10 million.

Same thing is true for coaches who get canned early. Coach contracts are typically fully guaranteed. Jim Mora made a ton of dough that one season in Seattle.

Worth every penny to pay Mora off too. :180670:

kearly":qgxzqlw6 said:

WilsonLegend":qgxzqlw6 said:

With players getting cut and signed by another team, this got me curious.

Let's say the Seahawks cut Player X but still owe Player X 4 millions out of the 8 millions he's due next season.
Player X is then picked up and signed by another team for 6 million a year next season.
Will Player X receive a total of 10 million to play next season?
How will the money get distributed between the parties involved?

Click to expand...

Unless it was dead money from a previous season, player X would get $10 million.

Same thing is true for coaches who get canned early. Coach contracts are typically fully guaranteed. Jim Mora made a ton of dough that one season in Seattle.

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Wow, i didn't realize that. That doesn't seem right.
In a way, from Player X's perspective, it's sometimes better to get cut.

WilsonLegend":iw6s76js said:

Let's say the Seahawks cut Player X but still owe Player X 4 millions out of the 8 millions he's due next season.

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I think this is the key to your hypothetical situation. If it's 8M$ in salary for the next season, he isn't "owed" 4M$ unless it's guaranteed.

Depends

Signing bonus. Let's say $10M - 5 years. He gets the money up front but spread in five years. So you cut him after 2 years then during the third year you take a dead cap hit off $6M. You already paid it just deferred cap hit

Guaranteed money is different. If he in the 3rd year was supposed to earn $6million of which $2M were guaranteed then he gets the $2M as well

So now the dead money cap hit is the $6M from signing bonus plus $2M guaranteed in that year PLUS any additional guaranteed money left in his contract

This is why most contracts have a bigger guaranteed hit up front so you can cut him after a few years.

Got it! Thanks all. Guarantee money vs signing bonus, big different.

I'm in the wrong biz.... Get fired and get paid millions to go away! Where do I sign up? 8)

we paid 10M in one year to Michael Bennett?!

Sports Hernia":3gvld9f6 said:

I'm in the wrong biz.... Get fired and get paid millions to go away! Where do I sign up? 8)

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You could be a CEO of a well positioned company. They don't call it firing though, just a golden handshake.

Barthawk":2got9wfm said:

we paid 10M in one year to Michael Bennett?!

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We 'paid' him 10M up front, but his first year cap hit is only 4M because the cap hit for the bonus is spread out over the life of the contract. Wait, Is this Tokadub, Part 2? :mrgreen:

Thanks

drdiags":2zksnkeb said:

Sports Hernia":2zksnkeb said:

They don't call it firing though, just a golden handshake.

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Unlike the "Golden shower" the average joe receives. 8)