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View Full Version : Clearing Up the Willie Colon Contract Situation


SteelersCanada
03-11-2013, 05:59 PM
So, because everyone and their mother is asking about the Willie Colon contract situation, I've decided that I'm going to answer it once and for all. I've answered this separately in about a dozen threads, so I hope this centralizes it and can send anyone still confused about it to this thread.

Here are the numbers.

Prior to June 1st

If Willie Colon is released prior to June 1st, 2013, we will save about 1.2 million on our cap. However, this creates a 6.45 million dollar hit in dead money come 2013. On top of that, after Rule 51, the cap savings would only equate to about to 760 000 and change.

It breaks down to, if Willie would be released tomorrow, we'd see about 760 000 and change in cap relief.

June 2nd and Beyond

We could release Willie Colon tomorrow, but designate him with a post-June 1st release date. This ensures that we would receive the full cap compensation, but we would not be able to see the savings until after June 1st. If this turns out to be the case, we would receive the full 5.5 million dollar cap savings. The dead money charge in 2014 would be 4.3 million.

Should Willie Colon not negotiate a pay cut, then releasing him now is the best option for both parties. The money we would save from releasing him would only go into effect this summer, and puts 4.3 million of dead money against the cap in 2014.

- Numbers taken from Dave Bryan of SteelersDepot.com

http://www.steelersdepot.com/2013/03/steelers-g-willie-colon-must-now-take-a-pay-cut-or-be-released/

I had originally thought this was enough cap room to sign Keenan to an extension, but that's no longer the case. Releasing him now lets Colon find work and for us to move on from his deal. This is, in my opinion, the best option to go. The cap relief we receive in the summer is not worth the dead money charge in 2014.

TRH
03-11-2013, 06:08 PM
i agree w/you....

TheVet
03-11-2013, 06:33 PM
i agree w/you....

He was just restating Dave Bryan's opinion from the final paragraph of the article:

Those are the options as far as Colon goes. In my opinion, if he doesn't take the cut in pay the Steelers should just eat everything right now and move on. Putting a $4 million plus dead money charge in 2014 is not worth saving the extra cap money later this summer.

austinfrench76
03-11-2013, 07:59 PM
Letting Colon walk is not only the right move, it's the only move. It still dosn't help with Lewis's situation but it does create some breathing room for signing rookies, etc (Not sure if that room needs to be clear by the draft though) It will also help with some late FA signings like Pope last year or someone like Stephens-Howlings who maybe falls through the cracks. I just saw that Beanie Wells was released, I know he's always hurt but if we get him cheap and he needs to prove something who knows???...

SteelersCanada
03-12-2013, 11:40 AM
Jason La Canfora ‏@JasonLaCanfora

Would not be surprised if the Steelers ended up parting with OL Willie Colon. More cuts still to come around the league

Well, there ya go.

Fire Arians
03-12-2013, 12:10 PM
hehheh, he said clearing up the colon

VaDave
03-12-2013, 02:03 PM
hehheh, he said clearing up the colon

That stinks....

67 calsteel
03-12-2013, 02:27 PM
Colon should not be cut til june 2.His cap saving covers the rookies.
Restructure Woodley NOW! 6 million cap savings
Sign Andy Levitre or Vasquez
Ben grubb set the scale last year.5 year 36 million 10 million signing bonus
Offer 5 year 30 million with 10million signing bonus
1 year 2.7

Hawaii 5-0
03-13-2013, 01:06 AM
Steelers to release Willie Colon; designate him as a June 1st release

By diehardsteelerfan625 on Mar 12 2013

As expected, the Steelers are going to release OG Willie Colon and designate him for a June 1st release, which would save $5.5 Million in cap space as compared to the $1.4 Million it would save if they cut him immediately without designating him. That being said, they cannot use that Cap Space till after June 1st which means they would have to wait that long to sign their Draft Picks to contracts.

It will likely also mean that they plan to use the Cap Space they have right now to resign CB Keenan Lewis.

http://www.behindthesteelcurtain.com/2013/3/12/4095172/steelers-to-release-willie-colon-designate-him-as-a-june-1st-release