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01-06-2012, 09:57 PM #10Veteran Poster
- Join Date
- Aug 2006
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- 3,341
Re: Stealers cap situation for 2012 a complete disaster
Yeah the top RFA tag is going to be around $3.5 million I think, and a long term deal would be about 5 or 6 in the first year.
I am not sure I am following this logic from the writer....
Retaining Mike Wallace for the Long-Term Is a Necessity
The Steelers also have at least six players slated to be restricted free agents and two more who will be exclusive-rights free agents, all of whom Pittsburgh likely wants back for 2012. But the only prominent player on this list of restricted free agents is superstar receiver Mike Wallace. The Steelers obviously would ideally like to retain Wallace’s services by first tendering him an offer at the highest level (an estimated salary of $3.5 million for 2012) that would result in Pittsburgh having the right to match any external salary offers presented to Wallace or receiving a first-round draft pick from any team that signs Wallace to an unmatched offer.
By tendering Wallace, the Steelers would ideally work on signing him to a long-term deal in the summer that would slightly increase his cap figure for 2012 from his initial tender offer due to a pro-rated signing bonus. However, the Steelers would be able to free up more cap space to sign its draft picks and possibly increase Wallace’s 2012 cap figure after June 1st when they can release veterans like guard Chris Kemoteau who are signed beyond 2012, but not have all the dead money owed to those players applied to their 2012 cap limit as it would if those players were released before June 1st. However, that ideal strategy would be risky in Wallace’s case. It should be noted the new CBA no longer includes first- and third-round picks as compensation for the highest tendered restricted free agents.
What the writer is basically saying is sign him now, JUST so you can restructure his deal after June 1 to save money towards the 2012 cap. That alone should tell you how bad the situation is, teams don't sign guys to extensions and then restructure a couple months later LOL. I mean I guess you could do it, but you are just transferring money into 2013 and beyond in a pretty crazy way.
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