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 Post subject: Vick's contract details posted on his player page
PostPosted: Sat Jan 01, 2005 3:34 pm 
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You can see them at his player page here. I have to thank Lenny P of ESPN.com for getting me this info.

Here's the blurb:
Quote:
The Falcons signed him to a ten-year contract on December 23, 2004. The deal is worth $130 million and includes signing bonuses that total $37 million. The deal extends Vick's rookie contract by six seasons. Base salaries for his new contract are: $600,000 (2005); $1.4 million (2006); $6 million (2007); $7 milllion (2008); $9 million (2009); $10.5 million (2010); $13.5 million (2011); $13 million (2012); $15 million (2013); and $17 million (2014). He received an initial signing bonus of $7.5 million. Vick also received two roster bonuses in the new deal. The first is worth $22.5 million and is due in March 2005. The second is worth $7 million and is due in March 2006. Both roster bonuses will be treated as signing bonuses, giving Vick cap figures of (rounded to nearest thousand): $3.6 million (2005); $5.178 million (2006); $9.778 million (2007); $10.778 million (2008); $12.778 million (2009); $14.278 million (2010); $17.278 million (2011); $16.778 million (2012); $18.778 million (2013); and $20.778 million (2014).


Basically, looking over this deal it seems to me that in essence we added 2 more years to Vick's original rookie contract. I figure the Falcons will approach Vick with a restructuring come 2011, when his cap hit is over $15 million. By then the salary cap may be upwards of $100 million, but still that is a large portion to be paying a single player.

But the Falcons did make something good out of this deal. Had the Falcons stuck to Vick's rookie contract and made a $5 million payment to reinstate the final 4 voided years, they would have paid Vick $35.6 million over that 4-year span. Under the new contract, Vick will get only $29.333 million, which is about a $6.2 million savings. Not a whole lot when compared to the enormity of Vick's deal, but $6.2 million is a lot of money when trying to fill out a roster. That equates to 1 veteran with a monster contract, or to maybe 15-20 low-level salary players, such as rookies, undrafted free agents, and 2nd/3rd year guys.

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PostPosted: Sat Jan 01, 2005 4:26 pm 
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but that 6.2 we saved would almost equal out the hit we would take
to drop Price
which i think we should do and go after a true number 1
Price is much like Pippen
when he has a true number 1 with him he is a top reciever
but when he went out on his own not so good
maybe he eyes our that bad and will be better next year
but i heard many coaches and players say that kind of eye problems
would not cause that much problems and drop off of numbers


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PostPosted: Sat Jan 01, 2005 6:03 pm 
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I haven't been happy with the play of Price either, but I think cutting him this off-season would be counter-productive. There are no other receivers out there with exception to maybe David Givens that would truly be an upgrade. Burress is a FA, but he too is like Price in that he's a solid #2 when he wants to be, but would suck if ever in the #1 role.

Price needs another year under the system. Again, this is a learning year for almost all of the offensive players. Price's play hasn't been impressive, but it hasn't be abysmal either.

Plus look at what Price is working with: his QB despite the beliefs of too many Falcon fans, is not a great passer. Vick is in fact average IMO as a pure passer in terms of getting the balls to his receivers. And his teammates at WR are overglorified #3 wideouts, since under normal circumstances Finneran and White would both be #3 or even #4 wideouts on many NFL teams.

I agree that Price is basically a #2 pretending to be a #1, and this was the biggest concern for when he came to Atlanta, and thus far it seems to have proven true. But Price has had his moments, and I think another year in Atlanta is warranted.

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PostPosted: Sun Jan 02, 2005 7:56 pm 
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i want to say i am wrong and Price would be a true number one
and your right Vick is not Farve or McNabb or Manning so numbers to numbers of number 1 with Price is not fair
but i did not like the remark that Price made a few weeks ago in the loss to Tampa
one reporter asked him if he had it to do all over again would he have signed with Atl.

He said "I sure i would but i would have done a lot more research on their offense first."
to me that is not something to say in a playoff push.

i believe there is a lot of talent on the WR spot here in Atl.
we might not have any true number ones but with
Price
Finneran
Jenkins

i believe we have 3 number 2 which is not bad at all

what i would love to see is in the off season starting in March even
to have the WR and Vick spent time together working on timing

we well be ok we just have to all grown together in this system


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PostPosted: Fri Jan 07, 2005 12:34 am 
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I love this deal Pudge. I never thought I'd buy into a huge deal but this one is nice.

$6.2 can go a long way to fixing an o-line that's for sure and I think that has to be the priority...


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PostPosted: Fri Jan 14, 2005 8:23 pm 
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Pudge: The breakdown Lenny P. gave is incorrect (I know, I can't believe it either). Per the CBA, no signing bonuses can be prorated past 2010. He prorated everything over 10 years and that isn't allowed.


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PostPosted: Sat Jan 15, 2005 3:25 pm 
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So Cap, what does that mean? Does that mean his $37 million bonus is only prorated over the first 6 years of the contract? So does that $30 million in first signing bonuses only get prorated over the first 6 years of the contract? Would that make his cap hits:

2005 - $5.6 million ($600K + $5M)
2006 - $7.8 million ($1.4M + $5M + $1.4M)
2007 - $12.4 million ($6M + $5M + $1.4M)
2008 - $13.4 million ($7M + $5M + $1.4M)
2009 - $15.4 million ($9M + $5M + $1.4M)
2010 - $16.9 million ($10.5M + $5M + $1.4M)

Would these cap figures change if/when the CBA is extended? Would we get a break on the proration, or are we stuck with these numbers. Because if that's the case, then we really got screwed on this deal.

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PostPosted: Sun Jan 16, 2005 4:34 am 
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I'll work on the breakdown as it should be tomorrow and post it right here for ya!


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PostPosted: Sun Jan 16, 2005 9:04 pm 
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I've got the same figures you are coming up with Pudge. With the way the salary cap is expected to increase in 2006 or 2007, it's not TOO bad but I think there's alot of things left to be determined on this one. The CBA coming close to expiring is something brand new so we'll have to see. I'm certain it will be extended but there are a lot of therefore hereunto's.....lol


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PostPosted: Sun Jan 16, 2005 10:35 pm 
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Cap, so are Vick's cap hits in 2011 thru 2014 basically the same as his base salaries, since there is no signing bonus to prorate in those years?

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PostPosted: Mon Jan 17, 2005 2:10 pm 
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That would be correct Pudge. The only difference is that IF the CBA is exended before the 2006 roster bonus is dealt with, that may get prorated over the entire contract. That's still up in the air though...


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PostPosted: Tue Jan 25, 2005 5:17 am 
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I just updated Vick's player page, which should now be more accurate. With all the intracacies of Vick's 2 contracts, I could probably devote an entire website just to that. Can't wait to see what the cap updates look like!

We discussed earlier in this thread that the new contract allowed the team to save over $6 million in cap space over the next 4 years, but it would seem from the latest details of the deal, the team is actually paying nearly $2 million more over that span to Vick.

The way the contract looks now, his cap hits in 2007 and 2008 are pretty large, and IMO the Falcons are getting majorly hosed on this deal if the CBA is not extended prior to 2007 at the latest. I suspect the Falcons will restructure his deal following 2006. They'll likely slash part (if not most) of his '07 and/or '08 base salaries and convert that into roster bonuses to be paid at later dates in the contract.

Just a bit of speculation and prognostication, but the Falcons could cut $2.5million off his base salaries in '07, '08, and '09, which would save the team of course $7.5 million over that span, which would be then be "re-paid" to Vick as a roster bonus prior to 2010. Well, then the Falcons will be at a decision-making point. Vick would at that time be approaching his 30th birthday and 10th season in Atlanta, the team could re-assess whether he is the guy they want to continue to lead them into the future. Then at that point, cutting Vick (I know it's blasphemy!), would basically cost about the same as keeping him.

So after all this analysis, I think this new deal only guarantees that Vick will be a Falcon through 2009. So that gives McKay-Mora & Co. 5 more years to make "it" happen. And by it, I mean a Super Bowl.

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