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Originally Posted by Wile_E_Coyote
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I'm not sure that 3.5 was all paid out in 2004. It was reported as a "multi-tiered" signing bonus, which leads me to believe it wasn't.
But for arguments sake, we'll say it was. That means if we cut him this year his remaining signing bonus will be accelerated to this year's cap. That adds up to almost 3 million. So we'll save the 865,000 in base, but owe the 2.9 mil in pro rated cap, costing us a cap hit of roughly 2 million. So instead of Woods hitting the cap for the 1.5 million that would consist of his base plus pro rated bonus, he'll hit for 2 million.
In effect, cutting Woods will consume 500k more than carrying him on the roster would.