explain the cap restructure penalties to me...
Why cant we cut Richards 2 years from now?
We are in a predicament now with MSL here.
basically, every year that he plays and we benefit from a cap hit that is lower than the average salary pay out per year, we pay a penalty based on that... Richards total Salary was $60M/9Y, which comes out to $6.67M/year, BUT, RIchards Salary drop off is tremendous after the first 6 years. Since that is a problem, we see that we get hit with a penalty because of the last few years. Notice that the first 2 years he receives $18M in bonuses. That's what messes this up:
2011-12 $12,000,000 $12,000,000 $0 $10,000,000 $6,666,667 $6,666,667
2012-13 $12,000,000 $12,000,000 $0 $8,000,000 $6,666,667 $6,666,667
2013-14 $9,000,000 $9,000,000 $0 $2,000,000 $6,666,667 $6,666,667
2014-15 $8,500,000 $8,500,000 $0 $2,000,000 $6,666,667 $6,666,667
2015-16 $8,500,000 $8,500,000 $0 $2,000,000 $6,666,667 $6,666,667
2016-17 $7,000,000 $7,000,000 $0 $4,000,000 $6,666,667 $6,666,667
2017-18 $1,000,000 $1,000,000 $0 $0 $6,666,667 $6,666,667
2018-19 $1,000,000 $1,000,000 $0 $0 $6,666,667 $6,666,667
2019-20 $1,000,000 $1,000,000 $0 $0 $6,666,667 $6,666,667
Now, what one had said (and I elaborated) was that perhaps Richards could form, some sort of Gentlemans agreement with Slats, something like:
"I'll play as long as I am healthy for NYR, since my buddy MSL is here. Once I am deemed worthless to this team, we'll terminate my contract, since in the last 3 years of my contract, I'll only be making $1M each year which I can easily surpass if you cut me, and I get resigned as a 3rd/4th line center for several more Million $"