Cap Update: About That Coles Situation
Maybe the Jets can trade Laveranues Coles after all. Click here to
Since the Jets guaranteed the last two years of Laveranues Coles’ contract last season, I have been unsuccessfully trying to reconcile the exact cap position. After all, it seemed a curious move to make when the player concerned is not only injury-prone, but also – how shall we say it? – disgruntlement-prone.
When Coles refused to talk to the media earlier in the season, it seemed uncertain whether he would even be prepared to play this season, which would have left them with a guy who was going to contribute nothing, only there was nothing they could do about it, due to the fact that they had guaranteed to pay him no matter what.
At the time of the deal, the Jets allegedly resolved to either provide Coles with a long term extension at the end of the 2008 season, or facilitate a trade with another team. This was another confusing move, which led me to believe that their must be a clause in Coles’ contract to enable him to forego his entitlement to the guaranteed money (I called this a “golden ejector seat” clause), otherwise, based on the usual rules for traded players, the Jets would get an accelerated cap hit equivalent to all of the remaining guaranteed money.
Finally, having tip-toed once again back through the minefield that is the salary cap material on the internet, I believe I have triangulated towards the answer. This type of situation is extremely rare and I have been unable to find a precedent for it, nor can I provide a link to substantiate the rules, but in the context of the deal the Jets offered Coles, I have re-interpreted the language in the salary cap rules and arrived at this conclusion:
There is a difference between guaranteed bonuses and guaranteed salary for traded players. If a player is cut, the contract is terminated and all of the remaining guaranteed money is accelerated into the immediate cap hit, but if the player is traded, the contract continues and the guaranteed salary passes over to new team and remains guaranteed, but by the new team. The accelerated cap hit is based solely on the remaining portion of the guaranteed bonuses (in this case $1m).
Bottom line is this: if the Jets can find a suitor for Coles, then they can potentially clear $5m of salary cap space. They have to find someone willing to take on the $6m of guaranteed money though, because cutting him will mean that they still suffer a $7m cap hit.
In light of the Jets current cap positon, a trade will almost certainly be looked into, because recent reports suggested the Jets were not interested in granting his wish for a long-term extension. The other alternative is to retain him for 2009 and pay him the $6m, after which he would become an unrestricted free agent.
Once again, this situation is very unusual, but I believe this interpretation makes sense. If anyone can find formal confirmation, we would be grateful.
32 Responses to Cap Update: About That Coles Situation
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jet4lif says:
If it was a possibility I would just trade him for 6th or 7th round pick. Anything to save cap and let other receivers develop right from the begining.
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Sammy G. says:
Coles for Boldin? I agree it would have to be something else. But it would also have to be something else, something else, something else and something else. Boldin is not even a fair comparison to Coles. If Coles was on the Cardinals he might be the 4th best receiver and that’s if he’s playing his best game.
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mannyfresh says:
At this point I would trade him for a bag of lays potato chips
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or trade him back for santana moss and a 4th round pick
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I ment coles and a 4th for moss
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Broadway12 says:
Too bad Matt Millen is unemployed I heard he loves WR’s
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The Ed(itor) says:
Please make Baker the second player in the trade. He was absolutely invisible this year.
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Frank R says:
I wouldnt mind getting Braylon Edwards, yeah he had a rough year, with all the drops, but he’s got the skill set to be an elite receiver. 6’3 221 and runs a 4.4 40. what we need is a burner, someone to open up cotchery and keller. id trade coles as well as a 3rd and 5th for him. Plus hes on record wanting out of the browns. Sign him to a long term contract 5+ years. his best football is ahead of him, being only 25 years old.
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EddieC says:
good point frank, forgot about braylon…there are a lot of talented disgruntled receivers wanting out of their current teams
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Eddie, Housh is a free agent this year, and to be honest, he may only be alittle better the cotch, he a possession receiver, not really that fast, but he makes great catches. he the best #2 in the nfl, but hes gonna demand #1 bucks come this off season. Then our wr corps would be T.J, Cotch, Stuckey, and Clowney (if we’re lucky). With factoring in their skill sets its not formidable. Someone tall and fast. Look at Randy Moss, Fitzgerald, Andre Johnson, Plaxico, T.O. Not one of em is under 6 foot 3 inches, or run less the a 4.4. Edwards is a prototypical big game receiver. To be honest, there’s not many out there. Instead of burning a 1st rd pick on a receiver, trade for one the draft a real need.
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Eddie, and Frank .. regardless of their stats this year, and even throwing out their contracts situation there is really no chance that any of the GMs of those teams would trade players like those for coles. i just don’t see it.
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all the mocks have us taking percy harvin with the 17th overall, who on earth would want a 5’11 receiver, we haven’t learned from coles, and santana moss, picks like that remind me of the herman edwards/ bradway era. ewwwww
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BigKatFan says:
NO. NEVER. Coles may be a little aged, but he puts his life on the line during games. He cares so much about winning, he would rather die than lose. Think of all the hits he’s taken. He wants to help his team.
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BKF, he went on record saying he would rather lose with pennington, why deal with the bs, he was a offensive captain last year, this season the players voted in two guys we got in the offseason. The guys a warrior, without a shadow of a doubt. but at this point i’d rather have a guy that really helps the team win. T.O wants to win too, that doesn’t seem to be panning out too well in Big D.
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Vinny says:
The one place that will want Coles is Miami. SInce most Jets fans have so little regard for him im sure they have no problem with him going to Miami
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Jet_the_dog says:
arent theese all such nice dreams…
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ganggreen says:
Coles plays with heart,through most injuries,and is a team captain I agree…But so was FAVRE and how’d that turn out…THE JETS need to revamp this offensive skill positions and quick…Look at ARIZONA,Dallas,PIttsburgh,NEW England ETC…Their outside receivers are tall,fast,and have good hands..their slot receivers are smaller,fast,and possession type receivers…WE need to trade L.COLES and get a receiver that can get off the line of scrimmage with cb who press,get down the field deep with seperation,and catch the ball when it gets to them..I think coles would be better in the slot like a wes welker but as for the deep ball those days are gone…Chad would love to see L.COLES in Miami but Miami damn sure aren’t going to pay 6 million for him..
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subwayfare says:
If I interpret this interpretation correctly, the only way Coles salary can come off the Jets cap is if some other team is willing to pay him 6 million for next season. Or is it just guaranteeing a minimum of 6 million over the life of a new deal.
I’d get used to seeing LC around another year if it’s the former. Unless, of course, Chad gives up a big chunk of his salary to his old pal one more time.
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Le'Sean Roberts says:
Just for the record, if we trade we want to gain something. Reason, how many draft picks do you all think we have……Let’s see, there’s the Favre trade, the Jenkins trade…..I think we give NO a fourth round with the Vilma trade (or some nonsense)… We get nothing for Robertson (scheming broncos)…We still have to collect from the redskins. only the !st, 6th, and 7th is a lock……What a Christmas, bringing in the stinking New Year. Jets need an elite pass rusher, Suggs will be a free agent…then there’s Marcus Spears, also a free agent, also pursue the top CB from OAK, also a free agent opposite Revis…. Draft Taylor Mays, and a game changing WR….Fire Sutton
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drock201 says:
CHAD JOHNSON. get it done
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Bent says:
Subway – I think that’s right. Even if the other team could restructure, they certainly can’t reduce the guaranteed money, but I think because it is guaranteed salary, then they are stuck with it for that year.
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oleosmirf says:
Coles to Miami for a 4th rounder
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Joe S. says:
Coles is a True Jet! You guy’s are trying to run him out of town just like you did Chad! You will miss Coles when he is gone just like Chad… this is a fact!
All Coles wants is a long-term contract that assures that he will finnish his career as a Jet. Don’t we want players who want to finnish their carrers as a Jet????
I know that I want players that want to play here. Especially players like Coles!
Coles by the way was 100% right! To discard Chad like the Jets did to bring Favre here was a BIG MISTAKE! The performances of each proved him right!
Football is NOT baseball! TEAM matters!
Joe
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jp losman says:
coles is no way a true a jet.
what true jet leaves NY for washington for more money. now i dont blame him for doing so, but he cannot be referred to as a true jet.
he is in no way sahpe or form near the status of chad pennington. chad pennington takers salary cuts to gets like coles back from washington.
i fell like every time we turn around LC has contarct and money issues. i love him as a player, but there is little difference between coles and cotch, both tough poseesion recievers. we need a guy to stretch teh feild.
keep the younger guy,lose the older more expensive guy, who also happens to have a loud mouth.
bent, this is really great news. i like the idea of chad johnson
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Draft a recever and mold him.
We don’t need a cancer like Chad Johnson and I don’t care how good he is. From a team standpoint he is a Cancer just like TO is a Cancer!
You don’t will with team Cancer’s!
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bringbacktestaverde16 says:
Anyone but Ocho Stinko! If you trade Coles you gotta collect draft picks. Maybe we can squeeze a third or fourth rounder out of a desprete team like Kansas City. As Joe S says, just draft a young guy.
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jaddenhopkins says:
coles is only good with chad.if he loves his boyfriend so much he can go to miami and we can get the dream kiila
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marty says:
Please trade this piece of crap ….ASAP …what a cancer on the team …. probably the most overrated player in the NFL ….a number 1 receiver ????? please!
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Mike says:
Let’s draft Kenny Britt! I’ve seen this guy play many times and he is phenomenal. He is 6’4 and runs with 4.4 speed. He is exactly the type of receiver we need to stretch the field.
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Kenny Britt…. What team is he on? I don’t have time to follow CF.
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what would be the chance to shop coles for a tj housh or boldin? obviously coles and something else would be necessary, but- any chance of this?
we need a threat and coles is through that stage of his career.