How Much Cap Space Do We Have Now?

[TheBengalsMind]

So, according to ESPN we had $44,704,357 on March the 12th.

We have released Glenn, BW Webb, John Miller since then.

Gleen opened up 9.5 million, BW Webb opened up 3.5 million and Miller opened up 3.9 million. 16.9 million total.

Minus the cap hits we took this year which brings the total to 15.7 million.

Which leaves us with 60,404,357.

We tagged AJ Green for 18 million, we signed Waynes for 20 million this year (but only a 10 million dollar cap hit), we signed Reader for an average of 13.25 million a year (not sure if it's front loaded, back loaded or averaged out), Xavier Su'a-Filo has also been added at 3.3 million a year.

Which is 44,550,000.

That leaves us 15,854,357.

Then we had 4 tender offers, which where the "right to match" version of tender which is around a million dollar tender right? Edited, now we know we had 8.6 million in tenders.

So that leaves us with around 7,254,357 dollars in cap space.

If I'm missing something in this equation please let me know.

With Dalton gone it obviously goes up to 24,954,357.

I figured it would be nice to have a thread where we could keep track of it.

[McC]

Good idea. The only thing I have to add is I have nothing to add.

[Au165]

(03-18-2020, 03:08 PM)TheBengalsMind Wrote: So, according to ESPN we had $44,704,357 on March the 12th.

We have released Glenn, BW Webb, John Miller since then.

Gleen opened up 9.5 million, BW Webb opened up 3.5 million and Miller opened up 3.9 million. 16.9 million total.

Which leaves us with 61,604,357.

We tagged AJ Green for 18 million, we signed Waynes for 20 million this year (lowers after), we signed Reader for an average of 10.75 million a year (not sure if it's front loaded, back loaded or averaged out).

Which is 48.75 million.

That leaves us 12,854,357.

Then we had 4 tender offers, which where the "right to match" version of tender which is around a million dollar tender right?

I'm not 100% sure with the new CBA.

So that leaves us with around 8,854,357 dollars in cap space right?

Or am I missing something in this equation?

With Dalton gone it obviously goes up to 26,554,357.

I figured it would be nice to have a thread where we could keep track of it.

We chose to take the dead money this year so our cuts were only worth 15.7.

[*Synric*]

Reader is 4 years 53 mil that's 13.25 a year.

[TheBengalsMind]

(03-18-2020, 03:12 PM)Au165 Wrote: We chose to take the dead money this year so our cuts were only worth 15.7.

(03-18-2020, 03:14 PM)Synric Wrote: Reader is 4 years 53 mil that's 13.25 a year.

Ah, I knew I would likely make a mistake I'll edit the original post to note changes. Thanks.

[Whatever]

(03-18-2020, 03:21 PM)TheBengalsMind Wrote: Ah, I knew I would likely make a mistake I'll edit the original post to note changes. Thanks.

Waynes is getting paid $20 mil this year,but his cap # is likely a lot less due to signing bonus proration.

[*ochocincos*]

https://www.spotrac.com/nfl/cincinnati-bengals/cap/

The above is updated typically at least within the day of something changed. We don't know the details of the Reader and Waynes contracts, so they haven't been able to add those in yet.

But basically the Bengals are at ~$34 mill before Reader and Waynes but need to reserve ~$11 mill for draft pool.
They basically have to offload Dalton and/or Kirk to be able to sign anyone else.

[TheBengalsMind]

(03-18-2020, 03:30 PM)Whatever Wrote: Waynes is getting paid $20 mil this year,but his cap # is likely a lot less due to signing bonus proration.

That is also likely true of Reader, as well. I'll try to edit as soon as I'm able to find out more details of both players contacts.

SpoTrac as of now just has both cap hits listed as the salaries being averaged out.

If anybody can find more accurate details I'll update as I can.

[oncemoreuntothejimbreech]

(03-18-2020, 03:38 PM)ochocincos Wrote: https://www.spotrac.com/nfl/cincinnati-bengals/cap/

The above is updated typically at least within the day of something changed. We don't know the details of the Reader and Waynes contracts, so they haven't been able to add those in yet.

But basically the Bengals are at ~$34 mill before Reader and Waynes but need to reserve ~$11 mill for draft pool.
They basically have to offload Dalton and/or Kirk to be able to sign anyone else.

My understanding is the $34M cap space is after accounting for the $11M rookie pool.

Right?

[Gamma Ray Tan]

New league year is here!

[*ochocincos*]

(03-18-2020, 04:59 PM)oncemoreuntothejimbreech Wrote: My understanding is the $34M cap space is after accounting for the $11M rookie pool.

Right?

No. It's italicized because it's not actually factored in yet. It is just showing about what it should cost.

[Whatever]

Found this blurb on the mothership...

"The Bengals have yet to announce a deal pending physicals, but their three free-agent agreements are believed to count for about $23 million under this year's salary cap, on top of A.J. Green's $18 million tender and $8.6 million in restricted free agent tenders."

So, basically $49.6 mil against this year's cap so far.

[*pally*]

here are Waynes contract details

Trae Waynes (Bengals), three years, $42M, $15M signing bonus, salaries $5M, $8.4M, $10.4M; $2M 5th day 2021 roster bonus; 2021-2022 per game roster bonuses up to $200K

— Aaron Wilson (@AaronWilson_NFL) March 19, 2020

[*Nate (formerly eliminate08)*]

(03-18-2020, 03:39 PM)TheBengalsMind Wrote: That is also likely true of Reader, as well. I'll try to edit as soon as I'm able to find out more details of both players contacts.

SpoTrac as of now just has both cap hits listed as the salaries being averaged out.

If anybody can find more accurate details I'll update as I can.

This is a hard job.

[fredtoast]

(03-18-2020, 10:52 PM)pally Wrote: here are Waynes contract details

Trae Waynes (Bengals), three years, $42M, $15M signing bonus, salaries $5M, $8.4M, $10.4M; $2M 5th day 2021 roster bonus; 2021-2022 per game roster bonuses up to $200K

— Aaron Wilson (@AaronWilson_NFL) March 19, 2020

Cap hit only $10 million this year.

[McC]

(03-18-2020, 11:10 PM)fredtoast Wrote: Cap hit only $10 million this year.

Doesn't seem like an outrageous deal.

[Whatever]

(03-18-2020, 11:10 PM)fredtoast Wrote: Cap hit only $10 million this year.

Yup.  Plus he can be cut next year for basically a wash against the salary cap.

[*Synric*]

(03-18-2020, 11:10 PM)fredtoast Wrote: Cap hit only $10 million this year.

And 16mil cap hits in 2021 and 2022.

[Wes Mantooth]

Geoff Hobson's latest update:

"After the recent splurge in free agency the Bengals currently sit with negative 43 million in cap space. Look for them to field a partial roster this year, and to forfeit draft picks."

[Shake n Blake]

(03-18-2020, 03:38 PM)ochocincos Wrote: https://www.spotrac.com/nfl/cincinnati-bengals/cap/

The above is updated typically at least within the day of something changed. We don't know the details of the Reader and Waynes contracts, so they haven't been able to add those in yet.

But basically the Bengals are at ~$34 mill before Reader and Waynes but need to reserve ~$11 mill for draft pool.
They basically have to offload Dalton and/or Kirk to be able to sign anyone else.

Sounds about right. Seeing how the Pats have sat and watched these other QB's fly off the shelves, I'd guess they're playing the waiting game with us. If so, we'll be choosing between (maybe) a 4th round pick or just cutting Dalton so we can actually sign other players.

If this really is the case, I think getting that cap space now is more valuable than any possible draft compensation.