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Eric Wood, 6/1 cut & Roster Addition


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As I understand the Bills can formally release Eric Wood on Friday, split the dead cap between the 2018 and 2019 seasons which would result in an approximate addition of about 3.3 million dollars to this years cap availability.

 

Plus this also adds a roster spot with about 22 million left in cap space and only the Josh Allen and Harrison Phillips contracts to complete.  Based on slotting, those contracts will take about 4.5 million in 2018 cap space leaving the Bills around 17.5 million and one open roster spot.

 

Intetested in your opinion on what the Bills might do.

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17 minutes ago, Doc said:

They won't cut him.  They'll place him on the reserve-retired list. 

 

What's your thinking there, Doc?  I don't think they can put a player on the "retired" list unless he, you know, says he's...retired

 

They can release him with a "failed physical" designation if they like.

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11 minutes ago, RPbillsfan said:

Do you know how that impacts our salary cap?

 

I believe no different than being cut.  So spread out cap hit over 2 seasons.

 

3 minutes ago, Hapless Bills Fan said:

What's your thinking there, Doc?  I don't think they can put a player on the "retired" list unless he, you know, says he's...retired

 

They can release him with a "failed physical" designation if they like.

 

Huh?  What makes you think Wood won't retire?

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30 minutes ago, RPbillsfan said:

As I understand the Bills can formally release Eric Wood on Friday, split the dead cap between the 2018 and 2019 seasons which would result in an approximate addition of about 3.3 million dollars to this years cap availability.

 

Plus this also adds a roster spot with about 22 million left in cap space and only the Josh Allen and Harrison Phillips contracts to complete.  Based on slotting, those contracts will take about 4.5 million in 2018 cap space leaving the Bills around 17.5 million and one open roster spot.

 

Intetested in your opinion on what the Bills might do.

 

When a player is cut "Post June 1" the dead cap isn't split equally.  The 2018 cap hit will be what was owed to him in 2018.

The 2019 cap hit will be his signing bonus for that year.

Per Spotrac #'s for Wood.

Post 1 June cut:

2018 Dead Cap: $8,225,000  2019 Dead Cap: $2,166,668  2018 Cap Savings: $650,000

 

I'm not 100% sure if Retired/Reserve changes that, but I don't think so.

Edited by ColoradoBills
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11 minutes ago, Captain Hindsight said:

?

 

He was told he could never play football again and held a PC to announce his retirement.  Unless the Bills are demanding he repay some money, he'll retire. 

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7 minutes ago, Doc said:

 

He was told he could never play football again and held a PC to announce his retirement.  Unless the Bills are demanding he repay some money, he'll retire. 

Well I think that is what is happening. Hence the very odd retirement ceremony. 

 

I think he is waiting to get cut

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3 hours ago, Doc said:

Huh?  What makes you think Wood won't retire?

 

12 minutes ago, Doc said:

He was told he could never play football again and held a PC to announce his retirement.  Unless the Bills are demanding he repay some money, he'll retire. 

 

If Wood retires, he needs to pay back $5.59M of pro-rated signing bonus for 2018 and 2019.  And, as I understand it, he would also void his 2018 salary of $5.05M (fully guaranteed for injury).  $10.59M is a lot of clam-shells to turn your back upon.

 

Wood held a PC in which he very carefully did not mention the word "retirement", and the above is the reason why.

 

15 minutes ago, machine gun kelly said:

From what he said himself and the serious neck injury, I can’t believe he’ll ever come back as it sounded serious.

 

No, he won't play football again.  But he'll put it on the Bills to release him with a "failed physical" designation, in which case he unambiguously keeps his signing bonus and (given the condition was discovered at his end-of-season physical) his fully-injury guaranteed 2018 salary.

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1 hour ago, Captain Hindsight said:

Well I think that is what is happening. Hence the very odd retirement ceremony. 

 

I think he is waiting to get cut

 

I think he thought he could retire immediately. 

 

1 hour ago, Hapless Bills Fan said:

If Wood retires, he needs to pay back $5.59M of pro-rated signing bonus for 2018 and 2019.  And, as I understand it, he would also void his 2018 salary of $5.05M (fully guaranteed for injury).  $10.59M is a lot of clam-shells to turn your back upon.

 

Wood held a PC in which he very carefully did not mention the word "retirement", and the above is the reason why.

 

 

No, he won't play football again.  But he'll put it on the Bills to release him with a "failed physical" designation, in which case he unambiguously keeps his signing bonus and (given the condition was discovered at his end-of-season physical) his fully-injury guaranteed 2018 salary.

 

He only needs to re-pay it if the Bills demand it back.  And I believe the 2018 salary is guaranteed regardless.

 

And let me say, I personally think he should give something back, whether it be the bonus or the 2018 base salary.  Getting both is double-dipping.  But that's above my pay grade.

Edited by Doc
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3 hours ago, Doc said:

 

I think he thought he could retire immediately. 

 

 

He only needs to re-pay it if the Bills demand it back.  And I believe the 2018 salary is guaranteed regardless.

 

And let me say, I personally think he should give something back, whether it be the bonus or the 2018 base salary.  Getting both is double-dipping.  But that's above my pay grade.

 

Why should he give anything back? Double dipping? What are you talking about? That would be him getting cut, them signing with another team, failing a physical and being paid by both.

 

The guy was hurt fulfilling his contract for a business worth billions. He shouldn't give a !@#$ing penny back.

Edited by Ol Dirty B
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2 hours ago, Ol Dirty B said:

Why should he give anything back? Double dipping? What are you talking about? That would be him getting cut, them signing with another team, failing a physical and being paid by both.

 

The guy was hurt fulfilling his contract for a business worth billions. He shouldn't give a !@#$ing penny back.

 

Because the guaranteed-for-injury 2018 salary is supposed to cover the retirement.  He won't be playing but will make $5M.  Maybe they let him keep the unamortized bonus for the season as well, meaning he just has to repay $2.167M, but something should be paid back. 

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7 minutes ago, Doc said:

 

Because the guaranteed-for-injury 2018 salary is supposed to cover the retirement.  He won't be playing but will make $5M.  Maybe they let him keep the unamortized bonus for the season as well, meaning he just has to repay $2.167M, but something should be paid back. 

 

If they wanted the contract to work that way, they should have written it that way. And if they aren't allowed to write it that way because of the CBA, then they should have negotiated the CBA better. I don't believe in "implied intent" in contracts. If he is supposed to pay back the money under the contract, then he should. If it is just implied, no.

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5 minutes ago, HalftimeAdjustment said:

If they wanted the contract to work that way, they should have written it that way. And if they aren't allowed to write it that way because of the CBA, then they should have negotiated the CBA better. I don't believe in "implied intent" in contracts. If he is supposed to pay back the money under the contract, then he should. If it is just implied, no.

 

A player who retires is required to pay back the unamortized SB if the team requests it, but typically they don't.  However in this case, he's getting his 2018 $5M salary fully guaranteed, which isn't typical.  I suppose that Wood could say he's not retiring, but he basically said that he has to retire.  It will be interesting to see which way this goes. 

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