Priest contract #'s before and after restructure

Chief Roundup · 03-10-2006, 10:00 PM

Chiefs | Contract update: P. Holmes
Fri, 10 Mar 2006 17:43:18 -0800

Kansas City Chiefs RB Priest Holmes' restructured contract included base salaries of $670,000 (2006), $870,000 (2007), $1.07 million (2008) and $1.27 million (2009). His old deal called for base salaries of $3.25 million (2006), $4 million (2007), $5 million (2008) and $6.5 million (2009).

Chief Roundup · 03-10-2006, 10:00 PM

Wow he really took a huge cut.

Hootie · 03-10-2006, 10:16 PM

good, he'll make a nice 3rd down back.

Mr. Laz · 03-10-2006, 10:18 PM

FYI - cutting his base salary doesn't mean a thing IF he's planning on retiring.

BIG K · 03-10-2006, 11:45 PM

Quote:

Originally Posted by Laz

FYI - cutting his base salary doesn't mean a thing IF he's planning on retiring.

Why is that?

Basileus777 · 03-10-2006, 11:49 PM

Quote:

Originally Posted by BIG K

Why is that?

The cap penalty is based on the signing bonus he took not the yearly salary he wouldn't get if he retired or was cut.

BIG K · 03-10-2006, 11:54 PM

Quote:

Originally Posted by Basileus777

The cap penalty is based on the signing bonus he took not the yearly salary he wouldn't get if he retired or was cut.

So does the cap penalty remain the same whether or not he plays again for the Chiefs?

Basileus777 · 03-10-2006, 11:56 PM

Quote:

Originally Posted by BIG K

So does the cap penalty remain the same whether or not he plays again for the Chiefs?

It costs us more to cut him (or if he retires) than to keep him. The restructuring should only make the loss from cutting him worse (comparitively).

BIG K · 03-10-2006, 11:59 PM

Quote:

Originally Posted by Basileus777

It costs us more to cut him (or if he retires) than to keep him. The restructuring should only make the loss from cutting him worse (comparitively).

Well that certainly sucks..But thanks for the info anyway.! Never really taken the time to read up on the cap and it's guidelines.

03-10-2006, 10:00 PM
Chief Roundup Admitted Planet Junky Join Date: Oct 2000 Casino cash: $2091627	Priest contract #'s before and after restructure Chiefs \| Contract update: P. Holmes Fri, 10 Mar 2006 17:43:18 -0800 Kansas City Chiefs RB Priest Holmes' restructured contract included base salaries of $670,000 (2006), $870,000 (2007), $1.07 million (2008) and $1.27 million (2009). His old deal called for base salaries of $3.25 million (2006), $4 million (2007), $5 million (2008) and $6.5 million (2009).
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03-10-2006, 10:00 PM	#2
Chief Roundup Admitted Planet Junky Join Date: Oct 2000 Casino cash: $2091627	Wow he really took a huge cut. __________________ Fanaticism is nowhere. There is no tenderness or humanity in fanaticism.
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03-10-2006, 10:16 PM	#3
Hootie Banned Join Date: Jan 2006 Location: Dallas, Texas Casino cash: $10004900	good, he'll make a nice 3rd down back.
Posts: 56,356

03-10-2006, 10:18 PM	#4
Mr. Laz Don't Tease Me Join Date: Dec 2000 Location: KS Casino cash: $11047037	FYI - cutting his base salary doesn't mean a thing IF he's planning on retiring. __________________
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