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Old 02-12-2012, 10:37 PM   #1
tony hipchest
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Default Steelers recent roster restructuring explained

Many fans complain the steelers never make a splash in free agency, yet last year they secured the services of Ike Taylor, Lamaar Woodley, Lawrence Timmons, and Troy Polamalu. Forget what the Eagles did... that is the defensive dream team, and would be considered a coup if done by any other team.

but since it was the steelers it was just business as usual. so was the immediate restructuring of 3 of the 4 contracts, sooner than the ink could dry and the confetti stop falling on the giants in indiannapolis.

why would woodley and timmons accept such a relatively low signing bonus compared to what they woulda received on the open market? come to think of it, their entire deals were about the same as the 1st 2 years of what manning and haynesworth recently signed for. they accepted the deal, because this restructure and getting the 2nd portion of their bonus this year was the plan all along.

theres no other reason they would restructure now, instead of right before the season when most teams are struggling to get under the cap. the team didnt wait to see if hines or smith would retire or whether hampton would be cut or restructure. the 2 with some of the freshest contracts were top priority. they got their money just as soon as, i presume, they were promised last year when they inked a "hometown discount"; however for a gentlemans agreement like this to be struck, both parties must both be gentlemen and have trust. the rooneys must trust that the players are part of the long term future and will outgrow or live up to their current deals. of course the players must have trust that ownership and mgmt are true to their words.

ive seen alot of questions being asked about these deals.

Is this unprescedented?
is this illegal or will it be made illegal?
will this push us into salary cap hell in the future?
are the players selfless for doing this?

no, no, no, and no.

there is a prime candidate for this type of restructure. it is typically a franchise qb with a mega contract, but that doesnt mean other long term players who are with the team for the long haul arent prime candidates. the players are doing what is smart. they can let the team hold onto their money and earn interest on it and divide it up into 17 equal payments (which wouldnt begin till the 1st thing next season) or they can take the years salary at once and invest and earn interest on the entire lump sum on their own. if if they got good financial planning, its a no brainer. $5 mil sittin in the bank for 8 months will earn a nice sum of money, for doing nothing more than sitting there.

while this pushes salary cap money into the future, it gets us out of salary cap hell NOW. the future will take care of itself when all the television money starts pouring in and the league is back to raising the cap by 7-10 mil every year.

we are good. not only are we doing the right thing, but i would say we are ahead of the curve compared to how most teams have been operating.

is there any wonder the rams were interested in our 35 year old capologist to be their next gm? is there any suprise that all it took was a meeting with omar kahn with the rooneys to make him forget about said interview?
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Old 02-12-2012, 11:38 PM   #2
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Default Re: Steelers recent roster restructuring explained

Great job explaining all this. This should clear a lot of minds around here.
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Old 02-13-2012, 12:17 AM   #3
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Default Re: Steelers recent roster restructuring explained

Thanks, it's a good read. The key is the trust between both parties there. Being a stable and smart organization is what makes the whole thing work.
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Old 02-13-2012, 11:22 AM   #4
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Default Re: Steelers recent roster restructuring explained

and all partyies know the Steelers need more talent on the team to make it back to the Superbowl.
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Old 02-13-2012, 11:33 AM   #5
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Default Re: Steelers recent roster restructuring explained

Well except, when they negotiated the deals and the 2nd year there was a bonus attached, it was just manuever to pushing out the signing bonus cap 1 year or in this case 8 months. Its not like they wouldve been cut by waiting 8 months to get another large bonus and risk losing money.
Signing bonus's are paid up front.

Did they sacrifice money? No. Did they help the team out by pushing some of the roster bonus out 8 months? Yes. Actually the Steeler sprobably saved them money as they would've received a larger bonus, invested it in the stock market and lost 33%, lol
Did they risk anything? Probably not as the roster bonus was probably insured againstt career threatening injury.
The structure was just changing the words from roster bonus, to signing bonus this was a plan from the beginning when those deals were written.

3 more reworks, 4 cuts, and we have plenty of money to sign Wallace and hopefully a free agent Olineman. Probably wishful thinking that wont ever happen here, lol
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Old 02-13-2012, 11:48 AM   #6
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Default Re: Steelers recent roster restructuring explained

Quote:
Originally Posted by Curtain_of_Steel View Post
Did they sacrifice money? No. Did they help the team out by pushing some of the roster bonus out 8 months? Yes. Actually the Steeler sprobably saved them money as they would've received a larger bonus, invested it in the stock market and lost 33%, lol
Did they risk anything? Probably not as the roster bonus was probably insured againstt career threatening injury.
it was calculated risk on both parties. on the part of the players if they took a "hometown discount" of a 15 mil signing bonus as opposed to the normal 21 mil, they lose out on a years worth of earning potential or interest on 6 mil. youre right, they coulda lost that money on the market, or a wise investor coulda doubled it.

on the part of the owners, they watched woodley ride the bench for over half the year.
calculated risk and pretty much a gamble. I feel it works out for all parties in the end.
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Old 02-13-2012, 11:53 AM   #7
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Default Re: Steelers recent roster restructuring explained

good stuff, thanks for explaining
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Old 02-13-2012, 12:11 PM   #8
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Default Re: Steelers recent roster restructuring explained

I agree Tony, I did mean to start off with, " I agree" lol
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