StumpHunter wrote: ↑Sat Feb 12, 2022 1:18 pm
J. Kapp 11 wrote: ↑Sat Feb 12, 2022 12:21 pm
Yes, there are other ways. But if you believe Kirk Cousins will do anything that does not put the most guaranteed money in his pocket, then please share some of what you’re smoking.
Totally agree, and I wasn't suggesting a situation where Cousins would agree to a pay cut.
The Vikings are currently 15 million over the cap, have 4 starters from their defense hitting free agency, and no realistic cut options that save significant cap.
They need to create at least 30 million in cap space to get back to relevancy next season.
They can create close to 30 million by converting Kendrick's, Thielen's and Cook's salary's to signing bonus alone
, without extending anyone.
The Vikings could add void year's to Kirk's current deal and save 30 million that way,
without extending anyone.
They can do a combination of converting salary to signing bonus of the players mentioned above, and sign players to heavily back loaded contracts.
All of those moves require us to essentially borrow from future seasons, but none of them have an addition 40 million guaranteed tacked on to them like a Cousins extension would.
J. Kapp 11 wrote: ↑Sat Feb 12, 2022 12:21 pm
Meanwhile, I am telling you right now Cousins will not play this season at a $45 million cap hit. That’s not anywhere near a hot take. You probably share that view. My personal preference would be to trade him and draft & develop his replacement, but nobody cares what I want. That being said, Kwesi can’t be stupid enough to delay the desperately needed rebuild/reset/whatever you want to call it by carrying a $45 million cap hit for a lame duck quarterback that he’ll lose to free agency and get nothing in return. If KAM and KOC want Cousins, they’ll extend him. If not, they’ll get what they can in a trade. There are at least 8 teams for which Kirk Cousins would represent an upgrade. There’s a market for him.
As I mentioned above, of all the ways to save cap this year, a Cousins extension makes the least sense. A trade makes the most sense, followed by adding a void year or doing nothing. An extension hurts our ability to sign free agents this year, next year and the year after and does not help our cap situation.
We can eat that 45 million and just move on. It isn't as necessary to break that hit up as some believe.
Help me out here. I’m not as confident in my knowledge in voidable years. It’s a pretty new trend. I’m going to walk through a hypothetical scenario, and you tell me if I’m on the right track.
Let’s say the Vikings “extend” Cousins for 2 years past 2022, so through 2024. But the last two years are voidable. This is similar to what Brady did with Tampa Bay.
The Vikings are on the hook for $35 million more to Cousins. So we start there. Let’s say Cousins agrees to a $14 million salary for 2022, with the other $21 million being converted to bonus. Kirk gets the money right away, while the Vikings spread the cap cost over the 3 years, or $7 million per year. Whatever salary he agrees to for 2023 thru 2025 is irrelevant, as those years are voidable.
That means Cousins gets a check for $21 million the moment he signs. Good deal for Cousins. He also gets game checks during the season totaling his $14 million salary.
The Vikings’ 2022 cap hit drops from $45 million to $31 million — his $14 million salary + the $10 million in prorated bonus from his previous extension + the $7 million prorated bonus from his new deal.
In years 2 and 3, assuming they let Cousins walk, their dead cap is only $7 million per year. Or if they want to keep him, they could void the contract and start over.
Obviously this is only one way they could do it. They could break it up any that’s agreeable to both sides.
Does that sound right? Am I understanding this correctly?
If so, then Cousins would be a fool not to accept. He could set his own destiny. He likes short deals where he bets on himself. This would be the ultimate such deal.