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KC_Guy


Joined: 07 Jan 2008
Posts: 7236
Location: Brussels, Belgium
PostPosted: Mon Sep 01, 2014 12:04 pm    Post subject: Reply with quote

JHawk24 wrote:
KCG- you're the cap dude. Since this is front loaded on the guarantee, it should be feasible that we restructure/extend Berry, cut Bowe or restructure Bowe after this year, and still have plenty to play with for Poe and Houston in the next two years now that all of our pre C-B rookie contracts will be gone. It's a QB league now, and financially we have a pretty darn good ROI in this contract. The talent level of the entire team is now the question.


We'll have to see about the contract. There is no information out how it is structured, what guarantees are in (injury or performance) - so, we'll have to wait and see.
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Kcpre


Joined: 18 Jan 2009
Posts: 438
Location: LA
PostPosted: Mon Sep 01, 2014 4:25 pm    Post subject: Reply with quote

Pretty damn happy about this. It's a big weight off the shoulders knowing that we're set at QB for the next few years, the uncertainty was killing me. And now we have the franchise tag available for Houston if it comes to that, which I'm pretty sure it will.
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Jakuvious


Joined: 06 Sep 2010
Posts: 9420
PostPosted: Mon Sep 01, 2014 5:18 pm    Post subject: Reply with quote

KC_Guy wrote:
JHawk24 wrote:
KCG- you're the cap dude. Since this is front loaded on the guarantee, it should be feasible that we restructure/extend Berry, cut Bowe or restructure Bowe after this year, and still have plenty to play with for Poe and Houston in the next two years now that all of our pre C-B rookie contracts will be gone. It's a QB league now, and financially we have a pretty darn good ROI in this contract. The talent level of the entire team is now the question.


We'll have to see about the contract. There is no information out how it is structured, what guarantees are in (injury or performance) - so, we'll have to wait and see.


Kind of surprised it's taking this long for the details to come out, honestly.
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KC_Guy


Joined: 07 Jan 2008
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PostPosted: Tue Sep 02, 2014 5:56 pm    Post subject: Reply with quote

So finally the Smith numbers are in:

Quote:
Jason La Canfora @JasonLaCanfora 27 Min.

Alex Smith's deal includes $18M signbonus and $1M salary for '14, $11.9M base in '15, $14.1M base in '16, $10.2M base in 17 and $14.5M in 18


Quote:
Jason La Canfora @JasonLaCanfora 26 Min.

Smith has $2M roster bonuses in 17 and 18. His $19M for 14 fully guaranteed and if on roster 3rd day '15 league yr, $26M in 15-16 fully guar


Let's sort that one out:

2014 - 1 M$ base, 18 M$ SB (19 M$ guaranteed upon signing), cap 4.6 M$
2015 - 11.9 M$ base (guaranteed 3rd day 2015 League year), cap 15.5 M$; if released: cash paid 19 M$ (19 M$ p.a.), dead money 14.4 M$
2016 - 14.1 M$ base (guaranteed 3rd day 2015 League year), cap 17.7 M$; if released: cash paid 45 M$ (22.5 M$ p.a.), dead money 24.9 M$
2017 - 10.2 M$ base, 2 M$ RB, cap 15.8 M$; if released: cash paid 45 M$ (15 M$ p.a.), dead money 7.2 M$
2018 - 14.5 M$ base, 2 M$ RB, cap 20.1 M$; if released: cash paid 57.2 M$(14.3 M$ p.a.) M$, dead money 3.6 M$
total: 73.7 M$ (14.75 M$ p.a.)

My breakdown:

This initially is a ONE year, 19 M$ contract. If things don't work out the Chiefs can release Smith after the season, but would have to take 14.4 M$ in dead money on their cap. (There are ways to spread it out a bit - but irrelevant here).

Early next year this contract converts into a THREE year, 45 M$ contract (15 M$ average) when his next two years become guaranteed. If released before the three years are done cash and cap hit explode, once his salary becomes guaranteed.

From 2017 it's pay as you go. The RB guarantees he would be released early in the year with a chance to catch on with another team.

The numbers for cash paid and dead money refer to a release in that year before additional guarantees hit or a roster bonus becomes due.

Overall: Not so different from the Kap deal. Chiefs can opt out after year one, three, four or five without taking a devastating cap hit. Looks like a scheme developing- pricey contracts with opt-out solutions if they don't work out.

I consider this a fair deal for both sides. The Chiefs don't have to TRULY commit before Smith's initial contract is up, but they pay him for the longer term option. Once they commit a bit more - it's for the foreseeable future. They don't bet the franchise's long term fate on Alex. And Alex may earn decent, but not top QB money.

Oh - a decent side effect: The Chiefs just cleared another 3 M$ in cap THIS year. If they don't use it they can just roll it over into next year. But it may give them the flexibility to get a Houston deal done already this year.
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