Keyshawn Johnson question

[Wasabiak]

Ok, so let's put this into FOF terms............

According to ESPN.com, "Johnson is midway through an eight-year, $56 million contract that included a $13 million signing bonus. " So, are the Bucs technically "cutting" him right now? And if so, is Tampa responsible for the balance of his bonus money? Is this similar to how FOF would figure this, or is it different in the NFL?

However, they also state in the article that they "will not release Johnson at the end of this season and are prepared to pay him a $1 million roster bonus in order to control his rights to opening day of the 2004 season." Is this unprecidented? How are they going to get out of paying his salary for that season? You cap gurus please chime in. I'm interest in learning about how this all works.

Todd

[Bee]

He's inactive. They are paying his salary this season.

[Wasabiak]

I'm talking about the rest of the contract. If they keep the rights to him until next year (which is what it sounds like they are doing), and can't trade him (if no other teams show interest), then he would have to be released, right? So the Bucs would be responsible for the last three years of bonus money? Would they have to pay next seasons salary as well?

[Chubby]

if they cut him now, all that bonus money is a cap hit on next season. if they keep himon the roster then cut him next year, they take a hit for the 2004 bonus that they would have payed anyways and then take a cap hit for the rest of the bonus in 2005. at least thats how i understand it.

They wouldn't pay the salary as I assume they will cut him before any games, at most they would pay the prorated portion of his salary.

[Maple Leafs]

As soon as they cut him, whenever that is, they're off the hook for his salary from that point on.

However, the remaining bonus money (which I think is $8M right now) accelerates to either this year, or this year and next, depending on when the cut happens.

That's why they're not just cutting him now. If they did, the bonus money accelerates to this year. They actually don't have enough cap room, so they'd have to cut more guys just to make room. So insted, they're deactivating him and will cut him next year.

Whether they trade or release him, the money situation will be the same. However, obviously they'd rather trade him and get something in exchange rather than losing him for nothing. We'll see if they can, given how weak their bargaining position is.

[Chubby]

maple - i think if they cut him now they only are responsible for a prorated portion of his salary and the bonus for this season. the entire rest of the bonus would be on next seasons cap.

[Bee]

I think Chubby has it right. Of course, I'd be shocked if they can't trade him. Early reports are teams have already contracted Tampa about him.

[Maple Leafs]

Originally posted by Chubby
maple - i think if they cut him now they only are responsible for a prorated portion of his salary and the bonus for this season. the entire rest of the bonus would be on next seasons cap. Yeah, sorry, I'm already thinking of "this year" as being the next full season.

(That's what happens when you're a 49ers fan.)

[Chubby]

Maple - oh i know, i'm a bills fan...

[RPI-Fan]

Early reports are teams have already contracted Tampa about him.

Talk about this being a life or death matter!

[Dutch]

The decision to deactivate Johnson and not release him now means he will remain on the Bucs' 53-man roster and must be paid the remainder of his $500,000 salary for 2003.

McKay said the move is necessary because the Bucs cannot release Johnson, 31, and remain in compliance with the NFL's salary cap guidelines. The league's trading deadline has passed.

Releasing Johnson would trigger a $6.51 million acceleration of the $13 million signing bonus he received when the Bucs acquired him in an April 12, 2000, trade with the Jets for two first-round draft picks.

The Bucs are under the cap by $395,000, so the acceleration of Johnson's signing bonus would put them over by more than $6 million.

From the Tampa Tribune.

[Fritz]

Originally posted by Chubby
maple - i think if they cut him now they only are responsible for a prorated portion of his salary and the bonus for this season. the entire rest of the bonus would be on next seasons cap.

Not exactly, the Buccs are on the hook for his entire current season salary, and likely to be achieved incentives.

As a vested veteran who was on the roster opening day, the club owes him his entire regular salary.

[Chubby]

"Johnson said he plans to spend the remainder of the season working as a network television analyst."

nice, under contract and will be on tv at the same time to pimp himself to other teams.

[Wasabiak]

Originally posted by Chubby
"Johnson said he plans to spend the remainder of the season working as a network television analyst."

nice, under contract and will be on tv at the same time to pimp himself to other teams.

Chris Berman to Keyshawn......."So Keyshawn, what are your thoughts on the Bucs offense?" :D

[Dutch]

Kids, if you are watching and taking notes at home, don't think real life works like this! You do not get fired and then keep that jobs pay and a new jobs pay at the same time! :)

[rlfreeze]

I think that the Bucs will try to trade him in the offseason and give him a choose of where he wants to go if he will repay some of the bonus money he is due upon termination of his contract.

[Tex Schramm]

I doubt they'll get much for him in a trade with that contract. But if I were the Cowboys, assuming the money works out, I would be willing to part with a 3rd or 4th rounder for him at best (or we could do a straight-up deal, Joey Galloway for Keyshawn). Then the money would probably work out better, and we've already got two other small fast receivers anyway. They're both players who have been disappointing after costing their teams two first rounders to get them, but at least Keyshawn has some size and can go over the middle.

So, if a team did trade to acquire him, would they only be responsible for paying the base salary of his existing contract (and that figure would be added to their cap total)? In the meantime, the Bucs would still take the cap hit for the remaining bonus money over the next two years?