Jump to content

Does anybody know the financial ramifications of cutting Mike Vick now


g-dawg
 Share

Recommended Posts

I say, if the Falcons can cut Vick now and stay under the salary cap - why wouldn't they? Its very unlikely that the Falcons will ever get money back from Michael - he probably blew all of it and with the bankruptcy filing - he obviously has no intent to pay his creditors - of which the Falcons have a $3.75million dollar claim.......

I guess - MAYBE - once Vick gets out of jail and applies for reinstatement from the NFL - maybe the Falcons would be in a better position - Roger Goodell possibly could say - you cannot come in until you pay those monies back to Falcons - but that is a longshot.....

Cut him now if you can - let's move on.....

Link to comment
Share on other sites

g-dawg (7/16/2008)
I say, if the Falcons can cut Vick now and stay under the salary cap - why wouldn't they? Its very unlikely that the Falcons will ever get money back from Michael - he probably blew all of it and with the bankruptcy filing - he obviously has no intent to pay his creditors - of which the Falcons have a $3.75million dollar claim.......

I guess - MAYBE - once Vick gets out of jail and applies for reinstatement from the NFL - maybe the Falcons would be in a better position - Roger Goodell possibly could say - you cannot come in until you pay those monies back to Falcons - but that is a longshot.....

Cut him now if you can - let's move on.....

Yet another one...:pinch:

Link to comment
Share on other sites

If the Falcons release Vick following the 2007 season, as many suspect will occur due to his prison sentence and suspension, there is about $14.9 million left remaining in unamortized bonus money. If he is released prior to June 2, the Falcons will have all that accelerated to their 2008 salary cap. That would save $396,720 against that year's cap. If the team releases him after June 1 (or designates him as one prior to that actual date), about $7.573 million of the remaining bonus money will accelerate to 2008, with the remainder ($7.32 million) counting against the 2009 cap. This however does not factor in any bonus money that the Falcons may or may not recoup from Vick.

Link to comment
Share on other sites

atljbo (7/16/2008)
If the Falcons release Vick following the 2007 season, as many suspect will occur due to his prison sentence and suspension, there is about $14.9 million left remaining in unamortized bonus money. If he is released prior to June 2, the Falcons will have all that accelerated to their 2008 salary cap. That would save $396,720 against that year's cap. If the team releases him after June 1 (or designates him as one prior to that actual date), about $7.573 million of the remaining bonus money will accelerate to 2008, with the remainder ($7.32 million) counting against the 2009 cap. This however does not factor in any bonus money that the Falcons may or may not recoup from Vick.

given that, I think the Falcons should go ahead and cut him now and take the $7.5 cap hit this year and then $7.32 cap hit in 2009.

although, I guess you could argue every year that he is on the roster and you don't have to pay him -the cap hit goes down every year.  So, given that, the Falcons would probably wait until after June 1st, 2009.......

atljbo, any idea what the cap hit in 2009 and 2010 would be if they waited until next summer to cut MV7?

Link to comment
Share on other sites

atljbo (7/16/2008)
If the Falcons release Vick following the 2007 season, as many suspect will occur due to his prison sentence and suspension, there is about $14.9 million left remaining in unamortized bonus money. If he is released prior to June 2, the Falcons will have all that accelerated to their 2008 salary cap. That would save $396,720 against that year's cap. If the team releases him after June 1 (or designates him as one prior to that actual date), about $7.573 million of the remaining bonus money will accelerate to 2008, with the remainder ($7.32 million) counting against the 2009 cap. This however does not factor in any bonus money that the Falcons may or may not recoup from Vick.

what suspension??dont judge before things happen.no im not comparing this to vicks situation but lofu tatupu spent a day in jail for whatever it was he did, i dont see him getting suspended.

Link to comment
Share on other sites

g-dawg (7/16/2008)
atljbo (7/16/2008)
If the Falcons release Vick following the 2007 season, as many suspect will occur due to his prison sentence and suspension, there is about $14.9 million left remaining in unamortized bonus money. If he is released prior to June 2, the Falcons will have all that accelerated to their 2008 salary cap. That would save $396,720 against that year's cap. If the team releases him after June 1 (or designates him as one prior to that actual date), about $7.573 million of the remaining bonus money will accelerate to 2008, with the remainder ($7.32 million) counting against the 2009 cap. This however does not factor in any bonus money that the Falcons may or may not recoup from Vick.

given that, I think the Falcons should go ahead and cut him now and take the $7.5 cap hit this year and then $7.32 cap hit in 2009.

although, I guess you could argue every year that he is on the roster and you don't have to pay him -the cap hit goes down every year. So, given that, the Falcons would probably wait until after June 1st, 2009.......

atljbo, any idea what the cap hit in 2009 and 2010 would be if they waited until next summer to cut MV7?

i think that the falcons will either try to trade him in 09 when he gets released from prison (and if he has no more legal troubles) or he will be cut during the 2010 june 1st cut

Link to comment
Share on other sites

who would trade for him and his inflated contract atljbo - he's worth about 10-20% of what his contract is now - he's untradeable......

also, dammit!  why did they move this post to "around the NFL" when it clearly is talking about the Falcons - I know because it had "Vick" in the title - well, soo.........this is about Falcons business not Michael Vick, per se

Link to comment
Share on other sites

g-dawg (7/16/2008)
who would trade for him and his inflated contract atljbo - he's worth about 10-20% of what his contract is now - he's untradeable......

also, dammit! why did they move this post to "around the NFL" when it clearly is talking about the Falcons - I know because it had "Vick" in the title - well, soo.........this is about Falcons business not Michael Vick, per se

i dont know why they moved this post lol....... but yea.... i agree...... he is not tradeable.... even without his signing bonus and guaranteed money..... his contract is still crazy big

Link to comment
Share on other sites

oregonsfan (7/16/2008)
What impact, if any, would the likely upcoming uncapped year have on all this?

A million times I've said that cutting someone in an uncapped year allows you to absorb all that cap hit IN AN UNCAPPED YEAR!!  Mike Vick will be cut in 2010, and his cap hit will not affect us at all.  THAT'S why he will remain on the roster until then.

Link to comment
Share on other sites

falconchef (7/17/2008)
oregonsfan (7/16/2008)
What impact, if any, would the likely upcoming uncapped year have on all this?

A million times I've said that cutting someone in an uncapped year allows you to absorb all that cap hit IN AN UNCAPPED YEAR!!  Mike Vick will be cut in 2010, and his cap hit will not affect us at all.  THAT'S why he will remain on the roster until then.

Thanks for the info!

Link to comment
Share on other sites

crankthatbatman (7/16/2008)
atljbo (7/16/2008)
If the Falcons release Vick following the 2007 season, as many suspect will occur due to his prison sentence and suspension, there is about $14.9 million left remaining in unamortized bonus money. If he is released prior to June 2, the Falcons will have all that accelerated to their 2008 salary cap. That would save $396,720 against that year's cap. If the team releases him after June 1 (or designates him as one prior to that actual date), about $7.573 million of the remaining bonus money will accelerate to 2008, with the remainder ($7.32 million) counting against the 2009 cap. This however does not factor in any bonus money that the Falcons may or may not recoup from Vick.

what suspension??dont judge before things happen.no im not comparing this to vicks situation but lofu tatupu spent a day in jail for whatever it was he did, i dont see him getting suspended.

 

Dude, Vick is suspended right now, has been for a while.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...