Over the course of this past week on multiple occasions I have come across fans who are unaware of the cap impact of Kam Chancellor’s injury on the Seattle Seahawks 2019 cap. Thus, this is simply a quick hitter to take advantage of the bye week when there is not a lot of news to bring everyone up to speed on exactly what the situation is regarding Kam’s 2019 cap figure.
When Chancellor signed his third contract with the Seahawks during 2017 training camp, the contract was a three year, $36M extension, with $25M guaranteed. Now, of that $25M in guarantees, just over half of it was in the form of full guarantees with the remaining portion guaranteed for injury only. The full guarantees included his $10M signing bonus and his $3M 2017 base salary. That left $12M in guarantees which were guaranteed for injury only.
Those $12M in injury guarantees were in the form of $6.8M of his 2018 base salary and $5.2M of his 2019 base salary. Further complicating things for the Seahawks salary cap in this situation for 2018 was the conundrum that teams cannot cut an injured player in the same season in which they are injured, and Chancellor’s 2018 salary became fully guaranteed just days after the Super Bowl back in February. Thus, as I wrote about back in January, the issue the team faced in relation to Kam this offseason was that they knew he was likely to be unable to play at anytime in the future, but they could not cut him prior to his salary becoming fully guaranteed because of league rules regarding injured players.
This is also why Kam has not formally retired, as doing so would forfeit his right to collect on these injury guarantees, and Kenneth wrote about this as far back as Thanksgiving weekend last fall.
I am sure that the confusion is simply a result of the fact that salary cap sites, such as OverTheCap.com and Spotrac, do not have the injury guarantees accounted for in their numbers. However, there are ample sources where this information can be verified without having to simply rely on my say so, including
Thus, while Kam Chancellor will probably be cut by the Seahawks at some point this offseason, his cap hit in 2019 is likely to be $10.2M. That number is comprised of the $5M in unamortized signing bonus that is still on the books on top of the $5.2M in base salary which is guaranteed for injury.
// from Field Gulls - All Posts https://ift.tt/2q0kzjf
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