Webster’s Contract Restructured

From NJ.com:

In yet another example of why you, me or anybody else without all the details should never try to calculate salary-cap space, I just noticed that, in February, the Giants renegotiated the extension they gave CB Corey Webster in December. No big changes to overall value; just some tweaks for cap purposes. Basically, they took $3.6 million of the $9 million Webster was guaranteed for this season (in the form of a base salary and a roster bonus) and converted it into a signing bonus. So his cap number was trimmed from $10,237,5000 to $7,375,500. Also, forget about these numbers. Your new ones are as follows:

2009: $5.4m base
2010: $2.75m base (guaranteed), $4m roster bonus
2011: $8m base
2012: $6.5m base
2013: $7m base

And workout bonuses of $250k from 2010-13.

12:16 p.m. UPDATE Forgot to mention that when I noticed the discrepancy in Webster’s base salary, I Googled him to see what I could find and saw my man B-Mac at Mac’s Football Blog had noted the change in Webster’s salary. He also noted the changes in the base salaries of DT Barry Cofield, LT David Diehl, QB Eli Manning and DT Fred Robbins. I would think most, if not all, of those other changes were because of escalators hit, not renegotiations like Webster’s.


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