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The Julio is traded thread


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Per @JDaveG

Cap and salary -- who took what?

So I keep seeing these posts about "the Titans took all Julio's cap hit" and "the Titans took his dead money" and all that.  Then there are the others that suggest we only clear enough to sign our rookies, which is driving into the other ditch.  Here's how the cap breakdown works and who pays what.

Julio is owed currently:

Pro-rated signing bonus -- $23.25 million

Guaranteed salary --           $17.30 million

Falcons pay:

2021 prorated signing bonus -- $7.75 million

2022 prorated signing bonus -  $15.5 million

This is because you cannot trade the signing bonus.  The Falcons paid it already, but get to prorate it over the life of the contract.  This means they take a dead cap hit for each year of the contract in the amount of $7.75 million (total prorated bonus was $41,333,334.00).  Since it was a post-June 1 trade, we get to take only this year's dead cap hit for 2021, and the rest hits in 2022.

The other thing is, people are confused about whether the $7.75 million counts against our cap this season and takes away from the cap relief we get from the trade.  The answer is yes, it counts, but no, it doesn't affect the cap hit, because it was already accounted for in Julio's cap hit for 2021.  So yes, we pay the dead cap number, but that was already on the books.  What the Titans pay for 2021 is all cap relief to us.  The real hit to us comes next season when the rest of his prorated signing bonus is accelerated and hits the cap in 2022.

Titans pay:

Basically just Julio's salary, which for this season is $15,300,000.00, and $11,513,000 the next two seasons.  Which is a cheap contract and why this is a good deal for him.  They don't have to pay his bonus (and as noted, they cannot), so they get Julio Jones for a pretty good deal (assuming they don't extend him or convert salary to bonus).   This means this season we get $15.3 million in cap relief, since Julio's number was counted against our cap until he was traded.

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1 minute ago, ya_boi_j said:

Please keep all of your comments and new threads here. Once training camp starts, all new Julio threads will be moved to the Around the NFL sub forum. Any current threads will be merged into here. There are 7 hiding on the front page now as if the other pinned thread didn't exist. 

Thanks. 

 

Any word on the official deal yet? 

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Just now, stizz said:

2nd next year, a 4th in 2023. I think most the fan base is indifferent on that return. 

I think teams knew we had to pay our rooks soon and our leverage was just gone.

Yup

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