Harrison Smith's Reworked 2023 Deal
Mar 17, 2023 7:35:54 GMT -6
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Post by MidwinterViking on Mar 17, 2023 7:35:54 GMT -6
NFL is reporting that Harrison Smith reworked his deal
A re-work is different than a an adjustment. If Smith's deal had been adjusted that usually means base salary is paid immediately as a bonus, reducing this year's cap hit, but increasing future years cap hits. If Smith's deal was re-worked that means the base salary would be reduced and incremental money would never be paid.
I did a really rough conversion of Smith's original deal vs a $8M and $10M number to see how the savings compared to releasing vs lowering his salary.
It looks like the Vikings basically agreed that "we're saving $7M from your contract one way or another, so this works for everyone."
My hypothetical details are pretty rough. The Per Game roster bonuses might still be there (reducing base salary). I also left guaranteed money out of this view; prior to the re-work Smith had no Guaranteed money - usually if the player does something like this, a good chunk of the base salary becomes guaranteed so the team can't just decide to cut them at the end of training camp.
$8M also isn't bad money for Smith compared to the top Free Agent signings so far:
Jesse Bates III: 4 yr / $64M = $16M AAV
Von Bell: 3 yr / $22.5M = $7.5M AAV
Juan Thornhill: 3 yr / $21M = $7M AAV
Donovan Wilson: 3 yr / $21M = $7M AAV
Jimmy Ward: 2 yr / $13M = $6.5M AAV
Marcus Epps: 2 yr / $12M = $6M AAV
Jimmy Ward is 31, the others are all 28 or younger. So Smith only comes out behind on the years, understandable for someone who is 3-8 years older than everyone else on the list.
Overall, this looks like a win-win for Smith and the Vikings.
A re-work is different than a an adjustment. If Smith's deal had been adjusted that usually means base salary is paid immediately as a bonus, reducing this year's cap hit, but increasing future years cap hits. If Smith's deal was re-worked that means the base salary would be reduced and incremental money would never be paid.
I did a really rough conversion of Smith's original deal vs a $8M and $10M number to see how the savings compared to releasing vs lowering his salary.
It looks like the Vikings basically agreed that "we're saving $7M from your contract one way or another, so this works for everyone."
My hypothetical details are pretty rough. The Per Game roster bonuses might still be there (reducing base salary). I also left guaranteed money out of this view; prior to the re-work Smith had no Guaranteed money - usually if the player does something like this, a good chunk of the base salary becomes guaranteed so the team can't just decide to cut them at the end of training camp.
$8M also isn't bad money for Smith compared to the top Free Agent signings so far:
Jesse Bates III: 4 yr / $64M = $16M AAV
Von Bell: 3 yr / $22.5M = $7.5M AAV
Juan Thornhill: 3 yr / $21M = $7M AAV
Donovan Wilson: 3 yr / $21M = $7M AAV
Jimmy Ward: 2 yr / $13M = $6.5M AAV
Marcus Epps: 2 yr / $12M = $6M AAV
Jimmy Ward is 31, the others are all 28 or younger. So Smith only comes out behind on the years, understandable for someone who is 3-8 years older than everyone else on the list.
Overall, this looks like a win-win for Smith and the Vikings.
... and neither is this Chris guy.