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View Full Version : 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
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
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
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
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
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. :rolleyes: