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Ravens Excercise 2015 Option for Jimmy Smith

 
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coordinator0


Joined: 18 Jan 2008
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PostPosted: Fri Apr 18, 2014 12:58 pm    Post subject: Ravens Excercise 2015 Option for Jimmy Smith Reply with quote

http://www.baltimoresun.com/sports/ravens/ravens-insider/bal-source-ravens-exercised-fifthyear-option-for-cornerback-jimmy-smith-20140417,0,4536151.story

Quote:
Smith is now due a partially guaranteed $6.898 million base salary in 2015, compensation that becomes fully guaranteed if he's on the roster on the first day of the 2015 league year.

His original four-year rookie contract, which included a $3.926 million signing bonus, was due to expire after next season and the Ravens were facing a May 3 deadline to pick up his fifth-year option.

Under the collective bargaining agreement, the Ravens had the right to retain Smith through the 2015 season for the salary-cap percentage average of NFL cornerbacks who have the third to 25th-highest salaries in the league for 2014.


This didn't come as a surprise to anybody. There is a question I want to throw out there though - if or when the Ravens give Jimmy a new contract will they keep Webb and his contract too? With both of them that would be a ton invested of money in the cornerback position even with the salary cap going up. I think a new deal for Webb next year is a real possibility but it's something interesting to think about and it could set the stage for taking a cornerback with a premium pick this season. Generally you don't see cornerbacks succeed in their rookie season and I don't think the team would be comfortable with Jimmy Smith and a rookie starting if Webb was released so taking one with a premium pick this year would give them insurance and/or leverage next offseason.
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DontTazeMeBro


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PostPosted: Fri Apr 18, 2014 1:09 pm    Post subject: Reply with quote

The first couple years of our contracts are pretty cap friendly for us. So 2015 should be the only year where the two of them together take up a lot of cap space. And with this option, Torrey is the only priority free agent we have going into 2015(hopefully Darian Stewart emerges as someone we'd like to keep around.) So as long as Webb plays well I don't see it becoming an issue.

I am so excited about next offseason and the 2015 season. We are in an excellent position there.
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gooselovechild


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PostPosted: Fri Apr 18, 2014 4:50 pm    Post subject: Reply with quote

Webb's contract structure makes it pretty easy to part ways with him after the 2015 season if we decide to go that direction.

I'd be ok using a premium pick on a CB on Dennard or Fuller if the draft board fell that way, but good CBs can also be found much later as well, Webb or Richard Sherman being the prime examples, so I don't think it's a necessity even if we are considering chopping salary with Webb in the future.

It would also be asking an awful lot to have both Ss and a CB with two years or less experience to make up 3/4 of the secondary in 2015. And especially if they all pan out, there would be virtually no chance to keep them together for more than two-three years since their contracts would all expire at roughly the same time.

But something else to consider is that, with the rising cost of CBs, it might be wise to keep Webb around and paired with Smith at his current salary--so long as his play justifies the cap number. If Sam Shields can get $9M+ per year before hitting the open market, Webb is actually a bargain at just $1M more per season on average. And if we could extend him, it would bring his cap number down even more, and avoid virtually the entire seconday needing new contracts in 2018.
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sp6488


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PostPosted: Fri Apr 18, 2014 4:55 pm    Post subject: Reply with quote

So are these amounts guaranteed? Like, is it essentially a new one year deal , with the original SB money completing its amortization in 2014?
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coordinator0


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PostPosted: Fri Apr 18, 2014 5:09 pm    Post subject: Reply with quote

Smith will be making the same amount of money in the 2014-15 season as he was before, Baltimore just exercised his option for the 2015-16 season. They have him under contract for two years now.
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sp6488


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PostPosted: Fri Apr 18, 2014 5:48 pm    Post subject: Reply with quote

coordinator0 wrote:
Smith will be making the same amount of money in the 2014-15 season as he was before, Baltimore just exercised his option for the 2015-16 season. They have him under contract for two years now.


Yea, I get that. What I'm asking is A) by exercising the option now, is it guaranteed (bc you have to do a full year before the relevant season), and B) the initial signing bonus money, which would have amortized over the initial 4 year term, is it now over the 5 or does it still have the same impact on year 4?
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coordinator0


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PostPosted: Fri Apr 18, 2014 5:58 pm    Post subject: Reply with quote

Ah, I get what you're asking now. I don't think the dead money from Smith's signing bonus gets spread out over two years now but it's hard to say for sure. As for the other part I found this:

http://russellstreetreport.com/cba-allows-ravens-to-control-j-smith-for-5th-season/

Quote:
However, it is important to note that the 5th Year Option is guaranteed for “injury only” up until the beginning of the league year for which the option applies. So, basically, in Smith’s case, the Ravens can exercise the option by May 7th, but could conceivably release him prior to be beginning of the 2015 league year for either Cap or performance reasons, so long as he is not injured. Once the player is on the team’s roster for the 1st day of the league year of the player’s 5th year, the option salary is fully guaranteed
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gooselovechild


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PostPosted: Fri Apr 18, 2014 6:01 pm    Post subject: Reply with quote

sp6488 wrote:
coordinator0 wrote:
Smith will be making the same amount of money in the 2014-15 season as he was before, Baltimore just exercised his option for the 2015-16 season. They have him under contract for two years now.


Yea, I get that. What I'm asking is A) by exercising the option now, is it guaranteed (bc you have to do a full year before the relevant season), and B) the initial signing bonus money, which would have amortized over the initial 4 year term, is it now over the 5 or does it still have the same impact on year 4?


It doesn't look like the signing bonus is redistributed by us picking up the option year, and that only the $6.898M salary counts against the cap for the 2015 season.

http://www.spotrac.com/nfl/baltimore-ravens/jimmy-smith/
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sp6488


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PostPosted: Fri Apr 18, 2014 6:18 pm    Post subject: Reply with quote

gooselovechild wrote:
sp6488 wrote:
coordinator0 wrote:
Smith will be making the same amount of money in the 2014-15 season as he was before, Baltimore just exercised his option for the 2015-16 season. They have him under contract for two years now.


Yea, I get that. What I'm asking is A) by exercising the option now, is it guaranteed (bc you have to do a full year before the relevant season), and B) the initial signing bonus money, which would have amortized over the initial 4 year term, is it now over the 5 or does it still have the same impact on year 4?


It doesn't look like the signing bonus is redistributed by us picking up the option year, and that only the $6.898M salary counts against the cap for the 2015 season.

http://www.spotrac.com/nfl/baltimore-ravens/jimmy-smith/


Good stuff, thanks for doing the leg work!

Interesting that the option has to be picked up prior to the 4th season, rather than subsequent to it.
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