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Cofield Restructures...

We'll see if this is part of a plan to bring in another player or two. Interesting move at this time of year.
 
Burgundy Burner said:
We'll see if this is part of a plan to bring in another player or two. Interesting move at this time of year.
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Like I said in the other thread, it wasn't the first thing that popped into my head, but I think you're onto something.. retaining Royster as well as a 4th QB leads me to believe we were planning on getting something for them, and now we've got cap space to do it. It absolutely is a weird time to restructure, especially after Cofield looked good in the preseason.
 
Seems to me that this was done because it had to be done not to free up much space at all. Hate to see us making Vinny-style moves, but this one was seemingly unavoidable. It'll be interesting to see the final cap figures when all is said and done here.
 
Dead Money said:
Seems to me that this was done because it had to be done not to free up much space at all. Hate to see us making Vinny-style moves, but this one was seemingly unavoidable. It'll be interesting to see the final cap figures when all is said and done here.
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This is a huge windfall for Cofield. If he's smart about it, he never has to work another day in his life.

Put the $3.5 million up front into a decent bond, or annuity when rates rise, and he can earn 5% a year, guaranteed.

That's a $175k base for the rest of his life, without ever touching the principal. It helps both us, and him.

This is how mainly in the NBA, teams in states with state income taxes can make up the gap against those with no state income taxes when luring high priced free agents. It's what the Lakers did with Shaq. Pay them everything up front, and let them collect the interest.
 
This is what happens when you have a good locker room, a competent coach, and a franchise QB.

People actually want to play here for something other than money.
 
I hate the misconception that Barry (or others before him) is somehow taking a pay cut. He's not, he's just getting his annual salary in one lump sum for cap purposes.
 
Sigh... often wonder 'what if' had Clark and Taylor stayed together.
No Archuleta, no Landry.
Maybe the effect of Clark's continued tutelage and friendship could have altered the whole series of events.

Anywho, Cofield's restructure sure feels a lot better than that 'other D lineman's' restructure. Cofield will actually play after getting paid and he'll pass that fitness physical to boot.

Yeah, we've come quite a way over the last few years.
 
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MikeSr619 said:
Now..but he was a jet. But failing out of there just shows how bad hes gotten
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He was on a one year contract with the Jets because of his injury concerns, he actually had a ProBowl season last year in NY and parlayed that into a decent contract with Indy. 4 years/$24m with $11m guaranteed.

Prowbowl year followed by not playing much in the preseason for the Colts because of a "knee tweak" seems about right for him. I can't believe Grigson gave him all that money, but he'll be flexing from the bench eventually.


Anyway... I like Coefield and understand the economics involved here. I don't trust him as a 16 game Nose Tackle in a 3-4, but he has gotten better with time, and hopefully will earn the rest of that money while we search for our first true 3-4 NT.
 
Dead Money said:
Anyway... I like Coefield and understand the economics involved here. I don't trust him as a 16 game Nose Tackle in a 3-4, but he has gotten better with time, and hopefully will earn the rest of that money while we search for our first true 3-4 NT.
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He dominated the Steelers' OL. Granted, it was the Steelers, but hopefully the rest of his games look more like that.
 
Lanky Livingston said:
I hate the misconception that Barry (or others before him) is somehow taking a pay cut. He's not, he's just getting his annual salary in one lump sum for cap purposes.
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he probably got hit pretty hard on taxes. not sure about the NFL, but for lil old me bonuses are taxed at 50% despite not making millions a year... not sure if that counts.
 
tshile said:
he probably got hit pretty hard on taxes. not sure about the NFL, but for lil old me bonuses are taxed at 50% despite not making millions a year... not sure if that counts.
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When you're making that much money, your tax bracket is pretty close to 50% anyway (I think).
 
Yeah, that would be interesting to find out about. I know that if you're in that bracket you still get to take advantage of the progressive tax system, but bonuses don't. IE: If he's in a bracket paying 50% that's only a portion of his income, but his entire bonus will be taxed at that rate.
 
Right on Barry! :claps:


ASHBURN, Va. – Barry Cofield's salary-cap restructuring has him talking.

The Washington Redskins defensive co-captain took a verbal shot at the NFC East rival New York Giants for "spearheading'' what Cofield thinks was an unfair punishment imposed on the Redskins for contracts awarded during the league's uncapped 2010 season.

Thanks to Cofield's contract restructuring from a scheduled $4.05 million in 2013 base salary down to a league-minimum $840,000, the Redskins were able to survive this second year of a league-imposed, $36-million salary cap penalty for the way the club structured 2010 player contracts.

Giants CEO/co-owner John Mara was chairman of the league's management council that docked the Redskins and, to a lesser degree, the Dallas Cowboys upon finding that they violated "the spirit of the salary cap'' during the uncapped season.

"I think everyone was aware. I was very aware and upset,'' said Cofield, who will play Monday night's season opener against the Philadelphia Eagles despite a broken bone in his right hand. "I felt like it was wrong and collusion and all those words that we try to get past.
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USA Today
 
I like Barry. At 29 my one concern is that he is a bit undersized and makes up for it with quickness and athletic ability. After 30 guys tend to slow down a bit and get nicked. I hope Barry like Fletcher can remain productive into his thirtie as a NT going 305.
 
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