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Thread: Rams Rework Contracts For Pettis, Long

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    Rams Rework Contracts For Pettis, Long

    September 4th at 11:58am CST by Luke Adams


    The Rams have reworked the contracts for a pair of their players, creating a little more cap flexibility as the 2014 season gets underway. Jason Fitzgerald of Over the Cap has the details on the team’s new agreement with wide receiver Austin Pettis, while Brian McIntyre tweets the information defensive end Chris Long‘s restructure.

    Pettis, 26, has agreed to slice his base salary for 2014 by more than half, from $1.431MM to just $700K. In exchange for taking a pay cut, the former third-round pick received a $250K signing bonus. Because he’s in the final year of his contract, the bonus won’t be prorated at all, but it still results in nearly $500K worth of cap savings for the Rams. And for Pettis, is likely means his roster spot is safe.

    Long’s restructure was a simpler move, with the team converting $3MM of his 2014 base salary into a signing bonus. That bonus will be prorated across the final three years of his deal at a rate of $1MM per season, meaning his ’14 cap number has been reduced by $2MM.

    Overall, the Rams created about $2.48MM in cap room.


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    Re: Rams Rework Contracts For Pettis, Long

    Interesting....no mention of reworking AvengerRam's contract? How about CurlyHorns and r8rh8rmike?
    Maybe the info will come out later?
    RealRam likes this.

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    Re: Rams Rework Contracts For Pettis, Long

    I wonder what if anything we will do with that extra money.

    ramming speed to all

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    Re: Rams Rework Contracts For Pettis, Long

    unless they plan on giving someone a raise this year, the FO must be giving themselves FA options

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    Re: Rams Rework Contracts For Pettis, Long

    Quote Originally Posted by general counsel View Post
    I wonder what if anything we will do with that extra money.

    ramming speed to all

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    Emergency injury replacement money.

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    Re: Rams Rework Contracts For Pettis, Long

    A little more coin in the war chest...so where might they spend it?

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    Re: Rams Rework Contracts For Pettis, Long

    Making room for Robert Quinns contract?

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    Re: Rams Rework Contracts For Pettis, Long

    Are we talking Jake or Chris? Did I miss which "Long" is being discussed?
    And for Pettis, is likely means his roster spot is safe
    That's a little surprising to me. I would have thought Pettis' spot was the suspect #1 when Bailey came back.
    "Before the gates of excellence the high gods have placed sweat; long is the road thereto and rough and steep at first; but when the heights are reached, then there is ease, though grievously hard in the winning." --- Hesiod

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    Re: Rams Rework Contracts For Pettis, Long

    By Frank Dobozy

    In anticipation of the deadline, the Rams - in need of salary cap space - restructured the contracts of Chris Long and Austin Pettis. On Tuesday, the Rams had $1,748,376 in salary cap space. Why did the Rams need to create additional salary cap space, when they already appeared to be in compliance with the changeover to the regular season salary cap rules? I explained the reasons why in a complete salary cap update, published in April:

    During the offseason, only the top 51 contracts count against the salary cap. As of September 3'rd, all contracts count against the salary cap. The roster expands to 53 players for the regular season. In the Rams' case, this meant adding $840,000 - 2 x $420,000 - in salaries counting against the salary cap.
    The Rams must pay practice squad salaries during the regular season totalling $1,071,000 (10 x $107,100). All practice squad salaries count against the salary cap.
    During the season, salaries for players placed on Injured Reserve still count against the teams salary cap. The team must replace these players on the roster. The players added to the roster also count against the Rams' salary cap. The Rams usually attempt to have a minimum reserve of $3 million, as a contingency in the event of injuries.
    The total estimated additional operating costs: $4,911,000. The Rams were credited with $504,000 for accrued workout bonuses on Thursday, leaving the estimated additional operating costs at $4,407,000.

    After the Long/Pettis restructures - and additional league accounting procedures related to injury settlements, accrued workout bonuses, and Stedman Bailey's reduced cap hit due to his suspension - the Rams now have $4,557,033 in salary cap space (with all contracts counting against the cap). This figure is the lowest in the league.

    The Rams salary cap situation is still very tight. If they incur an inordinate amount of injuries during the regular season, the Rams will be faced with the same predicament as last year, when Chris Long's contract was restructured in December to create $200,000 in salary cap space. The Rams needed the additional monies to remain cap compliant through the end of the regular season.

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    Re: Rams Rework Contracts For Pettis, Long

    Quote Originally Posted by HUbison View Post
    Are we talking Jake or Chris? Did I miss which "Long" is being discussed?
    That's a little surprising to me. I would have thought Pettis' spot was the suspect #1 when Bailey came back.
    It's Chris. He didn't take a pay cut, just a restructure.
    Pettis lost money in his deal though apparently

    Does Pettis' fall under one of those players who's salary is fully guaranteed at week 1 if he is still on the roster? If so, that may be the reason for the restructure to a smaller salary. He stays on the roster for four weeks, then gets cut when Bailey returns, but would be able to collect the remainder of his salary which would probably count against the cap. Therefore the Rams are possibly counteracting the possible impact of this guaranteed salary

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    Re: Rams Rework Contracts For Pettis, Long

    [QUOTE=tomahawk247;500863]It's Chris. He didn't take a pay cut, just a restructure.
    Pettis lost money in his deal though apparently

    Does Pettis' fall under one of those players who's salary is fully guaranteed at week 1 if he is still on the roster? If so, that may be the reason for the restructure to a smaller salary. He stays on the roster for four weeks, then gets cut when Bailey returns, but would be able to collect the remainder of his salary which would probably count against the cap. Therefore the Rams are possibly counteracting the possible impact of this guaranteed salary[/QUOTE

    That was my thoughts on Pettis also. He's going to lose a lot of salary when cut so they offer him the 250k now and lower his salary and he ends up with more cash overall than when he is to be cut. This would mean that he also has been notified of his pending release.

    The Rams are still at the bottom of the league in cap availability, even after these cuts, which are needed for in season moves.

    I would like to see movement on Sam Bradford's contract. Cutting him now does nothing but hurt the cap numbers, if I understand things properly. However, make him a back up by extending his contract for several years at bargain rates. This should greatly lower his cap hit this season as well as next season and beyond. This would also facilitate the necessary resigning of Robert Quinn as soon as possible. I just don't think they are going to release Sam though, even next year. If I am correct, that would represent about 7 million in dead money in 2015 and 2016.
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    Re: Rams Rework Contracts For Pettis, Long

    Howard Balzer

    The Rams will have an extra $3 million in salary cap space this year thanks to the offset language written into cornerback Cortland Finnegan's contract and the fact his new contract with the Miami Dolphins calls for $5.5 million this year.
    A Rams source said it "yet to be determined" when the credit will occur, while adding, "The timing isn't really relevant since we know we will get it at some point."

    We have yet to get this credit as far as I know.

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    Re: Rams Rework Contracts For Pettis, Long

    I'm surprised the practice squad salaries count against the cap.

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