Void Money...

[tynimiller]

So I hadn't heard about us using void money except on King....checking on Spotrac this morning for contract details and such and noticed we've pushed a decent amount of voided money into future years, and not just one more years.

Kevin King - $3,000,000 (2022) and $750,000 for three more years (2023/2024/2025)
Marcedes Lewis - $1,050,000(2023) and $525,000 (2024)
Billy Turner - $1,742,500 (2023) and $871,250 (2024)

If tracking, voided money:

2022: $3,000,000
2023: $3,542,500
2024: $2,146,500
2025: $750,000
$9,439,000

While I understand and get the concept of using voided money to get under the cap...I am praying to the sweet Lord above this doesn't become a common thing - used sparingly I can 100% see it benefit a team and player.

Everyone else aware of the voided money used?

 

[tynimiller]

Does anyone know if the voided money merely counts against the cap or is the player actually getting paid guaranteed money in that year?

Where I'm going with this is if I'm like say ZaDarius getting closer to the end of my career than beginning...Gute says I'll go "X" guaranteed for so many years. Could a player counter and be like give me that Bonilla deal and do a like 20 years worth of $750,000 money beyond the lifespan of the actual contract and take less up front.

 

[Poppa San]

Does anyone know if the voided money merely counts against the cap or is the player actually getting paid guaranteed money in that year?

Where I'm going with this is if I'm like say ZaDarius getting closer to the end of my career than beginning...Gute says I'll go "X" guaranteed for so many years. Could a player counter and be like give me that Bonilla deal and do a like 20 years worth of $750,000 money beyond the lifespan of the actual contract and take less up front.

Void money is usually guaranteed money the player has already pocketed. It is an accounting gimmick to manipulate the cap, nothing else. When the player leaves, it all becomes dead money immediately.
A few years back, some reporter analyzed the Packers annual financial statement and pointed out several long gone high priced players were still receiving what amounted to an annuity type payment. Instead of taking $20m in a cash signing bonus, they signed for the $20m but took $10m then $3-4m every year after until they were paid the full $20m + a bit of interest. Some tax implications, especially if the player is establishing residency in a lower tax locale in a few years. That was during the era when the team was not sitting on a large cash reserve.

 

[Deleted member 6794]

Does anyone know if the voided money merely counts against the cap or is the player actually getting paid guaranteed money in that year?

The money was paid this offseason with voided years added to spread out the cap space over several seasons. The Packers don't owe them any of that money anymore though.

Another thing to consider is that the remaining prorated portion of the signing bonus will count against the Packers' cap in the following season.

King, for example, will account for a dead money cap hit of $3 million in 2022 as the deal will automatically void at the end of February next year.

 

[tynimiller]

The money was paid this offseason with voided years added to spread out the cap space over several seasons. The Packers don't owe them any of that money anymore though.

Another thing to consider is that the remaining prorated portion of the signing bonus will count against the Packers' cap in the following season.

King, for example, will account for a dead money cap hit of $3 million in 2022 as the deal will automatically void at the end of February next year.

Appreciate it Cap...so it is like the Bonilla deal from a team's perspective budget wise, but not the player.

 

[weeds]

Appreciate it Cap...so it is like the Bonilla deal from a team's perspective budget wise, but not the player.

Precisely. The "cap" and "real money" are two different things really. Players for all intents and purposes don't give a rat's *** about the "cap" - their only concern is what is deposited into their accounts 17 times per year. I would bet however, that Rodgers knows exactly how to pull those "cap" strings to mess with the F.O. - and he'll hold the team hostage with that knowledge - just my opinion, that's what I'd do if I were in his shoes. Still, the team can also make his life tough if he doesn't show up and take the beating he so richly deserves.

 

[thequick12]

So I hadn't heard about us using void money except on King....checking on Spotrac this morning for contract details and such and noticed we've pushed a decent amount of voided money into future years, and not just one more years.

Kevin King - $3,000,000 (2022) and $750,000 for three more years (2023/2024/2025)
Marcedes Lewis - $1,050,000(2023) and $525,000 (2024)
Billy Turner - $1,742,500 (2023) and $871,250 (2024)

If tracking, voided money:

2022: $3,000,000
2023: $3,542,500
2024: $2,146,500
2025: $750,000
$9,439,000

While I understand and get the concept of using voided money to get under the cap...I am praying to the sweet Lord above this doesn't become a common thing - used sparingly I can 100% see it benefit a team and player.

Everyone else aware of the voided money used?

Yep was aware of it...and to my knowledge this is the first time the Packers have done that, possibly ever but definitely in the favre Rodgers dare I say Love era

However other teams have been doing this all along... obviously more so this year for everyone but my understanding is the Packers have always been particularly against this kind of cap manipulation

 

[thequick12]

Precisely. The "cap" and "real money" are two different things really. Players for all intents and purposes don't give a rat's *** about the "cap" - their only concern is what is deposited into their accounts 17 times per year. I would bet however, that Rodgers knows exactly how to pull those "cap" strings to mess with the F.O. - and he'll hold the team hostage with that knowledge - just my opinion, that's what I'd do if I were in his shoes. Still, the team can also make his life tough if he doesn't show up and take the beating he so richly deserves.

Dude once again the Packers didn't need Rodgers blessing to do a simple restructure of his contract. That would have saved like 16 m on the cap this year and they could still do it to his base and save majority of that.

Now if they wanted to add void years yes they would need his signature.

Obviously they aren't doing it because they know he's already mad af and they don't want to further upset him or give him a real extension that would "ruin the FO's Love transtion timeline"

 

[thequick12]

The money was paid this offseason with voided years added to spread out the cap space over several seasons. The Packers don't owe them any of that money anymore though.

Another thing to consider is that the remaining prorated portion of the signing bonus will count against the Packers' cap in the following season.

King, for example, will account for a dead money cap hit of $3 million in 2022 as the deal will automatically void at the end of February next year.

Yeah the Kevin King signing looks even more ridiculous now that they got a guy who is much much better and hopefully will beat king out for the starting job opposite alexander...I just hope they don't play king just because they made a bad decision on paying him what they did

 

[sschind]

Dude once again the Packers didn't need Rodgers blessing to do a simple restructure of his contract. That would have saved like 16 m on the cap this year and they could still do it to his base and save majority of that.

Now if they wanted to add void years yes they would need his signature.

Obviously they aren't doing it because they know he's already mad af and they don't want to further upset him or give him a real extension that would "ruin the FO's Love transtion timeline"

I have read several accounts that stated both parties would have had to sign off on any restructuring making your assertion that the team did not need Rodgers' permission false. I'm not saying you are wrong just that there seems to be a difference of opinion on the matter.

While on the surface it seems that any player would jump at the chance to restructure since he would get a large check immediately rather than smaller amounts stretched out over the course of the season there could very well be legitimate reasons why such a thing would not be desirable thus need the players permission seems reasonable.

 

[Deleted member 6794]

Dude once again the Packers didn't need Rodgers blessing to do a simple restructure of his contract. That would have saved like 16 m on the cap this year and they could still do it to his base and save majority of that.

Over the last 24 hours several beat writers have mentioned that the Packers approached Rodgers about restructuring his contract this offseason but he declined. That strongly indicates there was no way they could have done it without his permission.

 

[sschind]

Over the last 24 hours several beat writers have mentioned that the Packers approached Rodgers about restructuring his contract this offseason but he declined. That strongly indicates there was no way they could have done it without his permission.

Don't take this the wrong way Captain, I'm honestly not asking this in any way as an I told you so. I'm simply curious since you were so vocal about the Packers not restructuring Rodgers' contract how does this change your feelings, if in any way, in this matter (the restructure and nothing else) . I'm just interested in your take now if this is in fact the case. It appears that they may have wanted to restructure his contract but he didn't want to. You had strong opinions based on the belief that the Packers were not interested in restructuring thinking it was a unilateral decision the team could have made without Rodgers' approval (which I think is somethin many of us thought.) Given that it appears they may have needed his approval and he declined what do you say now. Obviously we do not know the details of the negotiations or the reasons for Rodgers to decline the offer but it would appear that the organization did approach Rodgers and offer him more commitment to the future. Just how much as I said , we do not know but it appears an offer was made.

 

[tynimiller]

Yeah the Kevin King signing looks even more ridiculous now that they got a guy who is much much better and hopefully will beat king out for the starting job opposite alexander...I just hope they don't play king just because they made a bad decision on paying him what they did

King signing was about loosening and lessening the desperation at CB we had need wise. If anyone thought King was the answer and future we'd done more than a year.

 

[Deleted member 6794]

I'm simply curious since you were so vocal about the Packers not restructuring Rodgers' contract how does this change your feelings, if in any way, in this matter (the restructure and nothing else) . I'm just interested in your take now if this is in fact the case. It appears that they may have wanted to restructure his contract but he didn't want to. You had strong opinions based on the belief that the Packers were not interested in restructuring thinking it was a unilateral decision the team could have made without Rodgers' approval (which I think is somethin many of us thought.) Given that it appears they may have needed his approval and he declined what do you say now. Obviously we do not know the details of the negotiations or the reasons for Rodgers to decline the offer but it would appear that the organization did approach Rodgers and offer him more commitment to the future. Just how much as I said , we do not know but it appears an offer was made.

Just for the record, I wasn't one of the posters who thought the team could restructure Rodgers' contract without his approval.

Regarding your question, I'm completely shocked that it seems Rodgers wants to force a trade. If that's true and the Packers front office approached him about restructuring or even extending his contract and he declined it because he's still pissed about the team drafting Love last year I need to apologize to Gutekunst and the rest of the front office for blaming them that they handled the situation the wrong way.

With that being said, I continue to believe it was a colossal mistake to draft Love in the first round last year.

 

[sschind]

Thanks Captain. It's going to be very weird no matter how this shakes out.