Frankly, I am a little confused on the reports of Green's cap savings, but the key here is to understand how each report is calculating the "savings".
Adam Schefter noted in his blog that the team saved $3.93 million in waiving Green.
Green had salary and bonus figures totalling $5.5 million on the '09 cap. His unamortized bonus money was $2.5 million. Net the two, and it's just $3 million, but that's not how Schefter is calculating the "savings" based on his Greenwood savings calculation.
Greenwood is much more straightforward. He had $1.4 million remaining and the team saved $4.768 million in base salary and $100k in a workout bonus by cutting him. Schefter says the team saved $4.87 million, meaning he is not accounting for the dead money left behind.
To get to Green's savings, I think maybe you take the $5.5 million and subtract the $1.6 million earned for active games in 2008 (@ $200k apiece) and add back in the first game's bonus of $31,250. It comes out to Schefter's $3.93 million reported... I'm just trying to figure out how that $1.6 million should be reflected on the '09 cap, if at all.
ETA - The math in getting to Schefter's $3.93 million seems to make some sense (and the chron reported a similar $4 million figure), but I'm bothered still by netting the savings against the $1.6 million from last year's incentives. At the time of the renegotiation, 6 games and $1.2 million should have been deemed as LTBE while the other 10 and $2 million should have been deemed as NLTBE. Green played in 8 games last year, and I'm unclear still as to how much of that should reflect on the '08 cap.
There is some verbiage in the CBA (Art 24, sec 7, part c - Incentives) that says:
Quote:
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Any incentive bonus that is stated in terms of a per play or per game occurrence automatically will be deemed “likely to be earned” to the extent the specified performance was achieved by the player ... in the previous year. ... If not initially counted as “likely to be earned,” such incentives shall be counted immediately towards the Salary Cap and Entering Player Pool when they are earned.
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ugh... I expect to get some clarification on this by the end of the month when I get the final cap adjustment numbers.