Nicks Settlement Saves Bucs A Few Bucks
August 5th, 2014
More cash to entice Gerald McCoy?
Amicably waving goodbye to former All-Pro guard Carl Nicks last month appears to have saved the Bucs some cash.
Per a FOX report last year, Nicks’ 2014 contract had a $6 million injury guarantee.
But it seems the Bucs, for now, got off much cheaper. Bucs beat writer Rick Stroud is Twittering that “the value of the agreement is between $3 million and $4 million with workman’s compensation and other considerations.”
The messy legal situation that was averted here surrounds Nicks’ actual health. Nicks passed a pre-training-camp physical, and Joe was told he passed others, as well. But the gray area was Nicks’ lost ability following a MRSA infection and subsequent foot surgery that was considered a non-football injury by NFL standards.
Regardless, Nicks is old news and it seems Tampa Bay has a few extra bucks laying around to entice Gerald McCoy to extend his contract right now. The Bucs already were more than $10 million under this year’s salary cap before the Nicks agreement.
August 5th, 2014 at 11:50 am
Wouldn’t hurt to sign another guard at some point before the season starts too…
August 5th, 2014 at 11:53 am
Reworking McCoys deal provides cap relief anybody reporting otherwise doesn’t understand the cap. This is about market value and getting more than suh. Nothing more! McCoy and Tampa are in great positions to get deal done.
August 5th, 2014 at 11:56 am
trade for Alex Boone from SF. They could use a healthy RB (We have a surplus) and potentially include Baltimore’s 5th rounder we got for Zuttah. Would SF do it? I think they’ll be fine with Looney at guard to replace him anyway.
August 5th, 2014 at 12:14 pm
I agree 100% Rob. Although it seems the coaches may know a little more than we do on that front.
August 5th, 2014 at 12:27 pm
I know this is off-topic but does anyone else’s computer run like garbage when joebucsfan.com is open?
This is ridiculous.
Go Bucs!!
August 5th, 2014 at 12:28 pm
The last of the pop star’s awful contracts. The Saints knew what they were doing when they let him go.
August 5th, 2014 at 12:43 pm
@Eliot
It’s the ads running that does it. I’m guessing Joes web host inundates this site with national ads that he’s got no control over. CNN and other sites do the same thing, though Joe seems to have some really crappy host that doesn’t vet ad performance before they stick them out there. Just a guess though.
August 5th, 2014 at 12:46 pm
On the topic, Nicks got a good deal – great salary and no requirements to travel with the team this year. He can spend the time on his family or whatever else he’s doing. Bucs did a smart thing here, along with Nicks’s agent. Everybody wins.
August 5th, 2014 at 1:25 pm
The Bucs have 7.071mil remaining in dead money from Nick’s year-end 2012 restructure – equal payments of 2.357mil spread over years 2013 thru 2016. That is why Nicks had a 2014 cap hit of 9.357mil (7mil salary + 2.357mil dead money).
By using the June 1st option they are allowed to absorb the 2.357 amount in 2014 and delay the remainder of the dead money (4.714mil) and absorb it under the 2015 cap since the cap is expected to increase another 10mil for 2015.
Since we now know that Nicks agreed to settle for 3mil, the 2014 cap hit becomes 5.357mil (3mil settlement + 2.357mil), a savings of 4mil. The salary cap is a fluid number that changes with every transaction, but evidently was sitting at 9.71mil at the time Nicks’ settlement was applied because the NFLPA database reports the Bucs salary cap at 13.71mil.
Mort is correct that when McCoy’s contract is extended, there is likely to be some cap savings since his 2014 cap number is 15.327mil and any signing or roster bonuses are likely to be spread over the life of the contract. But Mort we do not have the 2015 5th round pick we got for Zuttah. We used it to move back into the 5th round to select Pamphile.
Keep in mind the 13.71 cap number includes 90 players, which will soon be cut to 61 players (53 final roster + 8 practice squad). There will be around 2mil put back into cap space. Bottom line – the Bucs are in great shape.
Don’t feel bad for Carl either. This means the Tampa Bay Buccaneers will have paid Nicks a whopping $28 million over three years to play nine games. Under Article 45-Injury Protection of the CBA, the settlement will be paid to the player in equal weekly installments commencing no later than the date of the first regular season game, which benefit payments will cease if the player signs a contract for that season with another Club.
August 5th, 2014 at 1:28 pm
Amen,MTM. They backfilled Nicks with Ben Grubbs…who is still going strong. Oh swell, like you also mentioned…this contract was one of the last turds in he pop star punchbowl. Goldson’s may be yet another…depending on how closely he’s watched and if he’s changed his technique this offseason.
August 5th, 2014 at 7:35 pm
Thanks Joe,
Was getting worried about you haven’t seen a nicks post on here for a few days.
August 5th, 2014 at 10:30 pm
@ Macabee
Great info man, thanks for breaking that down for us. I love to hear about details of contracts, to me its intriguing.
You gus are so full oh Sh*t! You, just like all of us, praised the nicks signing!! Quit trying to monday morning QB every FA that doesn’t work out!