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Burress’s Effect on the Salary Cap

From Patricia Traina:

For those wondering about the salary cap ramifications following the release of WR Plaxico Burress, here is the breakdown.

Burress was due to count for $2.85M against the cap this year. That number consists of $1M in base salary, $1M in likely to be earned incentives (which remember given the current state of the NFL labor situation, are automatically factored in until it is obvious that the player won’t earn those incentives); and $850K in prorated bonus money.

So take is 2009 cap number ($2.85M) and subtract the remaining signing bonus of $2.55M (which accelerates into the current year’s cap), and you get a savings of $300K as of this moment.

Depending on the ruling made by the arbitrator who rules on Burress’ case against the Giants concerning the $1M signing bonus that was withheld last December 15, the total cap savings could actually reach as high as $1.3M.

Further, if Burress is sent to jail, I believe the Giants could take page out of the Atlanta Falcons’ book, when the Falcons went after the bonus money paid to QB Michael Vick. You might recall that once Vick was ordered to repay the bonus money, the Falcons came into a major cap windfall. In the case of the Giants, I believe they would have the option to recoup even more of Burress’ signing bonus, though it’s unclear if cutting ties with Burress at this point would entitle the Giants to any rebate on his signing bonus.

I was wondering about this from the second I heard the news. Free up some space baby!!!!!!!!

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