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1st May - updated Giants Salary Cap projection

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1st May - updated Giants Salary Cap projection

Post  Big_Pete on Sun May 03, 2009 11:57 pm

from insidefootball.com

Crunching Numbers: A Projected Update on the Giants Salary Cap

I finally got a chance to go back and revisit my salary cap spreadsheet. Since we have a few days before the rookie mini camp, I thought Iíd share the numbers with you.

Before I get into it, I want to stress something very important. I have two player contracts that Iím not 100% sure about. The problem is the signing bonus for both deals, which I've yet to be able to find.So I did a projection for both contracts but I still think I'm off by a few bucks. I will continue to research these two contracts though in hopes that ultimately the information I need shows up somewhere.

Ok, so hereís how I have it figured. The Giants, like all NFL teams, started with $127M (adjusted from $123M by the NFL). They received a reported $7.2M credit from some unearned player incentives that were due to hit the 2008 cap but didnít. So by my calculations, that gave them $134.2M to work with.

Iíve estimated the top 51 player contracts to be $121.6M (if you want to see how I got that figure, youíll have to subscribe to Inside Football as Iíve provided a breakdown for each player.) Deduct the top 51 contracts from the starting point and you have a difference of $12.5M.

From that $12.5M, deduct the dead money on the four players cut Ė Sam Madison, Reuben Droughns, Sammy Knight, and Plaxico Burress. (By the way, I calculated Burressí dead cap space to be about $1.4M, basing that on the $1M that was restored to him in his arbitration case plus an additional estimated $400K to cover the unspecified bonus that the arbitrator also gave him back). That leaves the Giants with about $9.4M.

Then deduct the rookie pool that the NFL specified the team must put aside for their rookie class (which includes all undrafted free agents who sign contracts and ultimately make the team) Ė that figure by the way is $4.8M.

My bottom line figure? Approximately $4.6M to be used for a rainy day, such as any upcoming free agent signings of players who are let go by their teams during training camp, injury settlements, etc.

One final note. This salary cap figure is going to change depending on the final 53-man roster. One significant difference between the projections I have now vs. what Iíll eventually have is that during the off-season, only the top 51 contracts count against the cap. Obviously when the season starts and you have a 53-man roster, you have to count the remaining two contracts.

So there you have it. Again, I want to stress that my numbers are just a projection and not gospel.

As for me, Before I call it a day, a couple of quick notes. Iím going to host a one-hour chat on May 11 at 2:00 PM ET in which Iíll run down my observations on the upcoming rookie mini camp to be held May 8-9. Iíll also try to answer as many questions about the various players as I can during the chat. Visit InsideFootball.com for more details on the chat.

Speaking of the rookie mini camp, Iíll be blogging some observations, though out of fairness to the folks who financially support our publication, I wonít be able to share everything in the blog. I know who butters my bread. But if you want to get an idea of just how crazy I got last year at the rookie mini camp with the coverage I delivered to the subscribers, here's what I wrote on the first day of the camp.

Ok, I'm calling it a night. Till next time.
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