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Thread: Contract info on Faulk
Contract info on Faulk
This is what Howard Balzer is saying:
Here are the facts as they relate to Faulk's contract (he would not count more this year than he already does if released or he retired):
*The base salaries are not guaranteed.
*He counts a little over $4 million against the cap this year. His abse salary is $1.9 million, but there is also a $100,000 reporting bonus to make his compensation this year $2 million.
*If he were to retire or be released, the $2 million would disappear and the Rams would save $2 million against the cap. He would still count $2 million for his signbing bonus.
*After this year, there is $4 million of bonus remaining to account for. However, to split it over 2007 and 2008 (assuming he can't play again) would mean waiting until after June 1 for him to be released or retire. Because his base salary in 2007 is $2.6 million, he would count $4.6 million for most of the off-season.
Of course, he could retire or be released before June 1, and the hit would be $4 million, the same it would be if he were released or he retired now.
There is no rush to do anything now because the Rams have the cap room to sign their draft picks. And, there are no players out there that would count $2 million against the cap this year. However, money is often needed during the season to replace injured players.
Personally, I believe an excellent compromise on both sides is that Faulk agrees to reduce his base salary to the minimum ($810,000) or even $1 million, giving him money and the Rams $1 million extra in cap space.