Ike Taylor restructures, over 18 million in cap space created so far this offseason

by Kansas Steel on Feb 10, 2012 3:04 PM EST

Rotoworld is reporting that Ike Taylor has agreed to restructure his contract from a 2012 base salary of $5,750,000 to $825,000 with $4,975,000 as a signing bonus pro-rated over the next three years.

Brian McIntyre of Football Outsiders reports that this brings the Steelers on the upside of $18,000,000 of cap space created/saved for 2012 so far this offseason.

Not too shabby, nice to see the FO working so quickly and proactively to get their house in order.

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You forgot this portion of the quote...

Taylor, Timmons, and Woodley are becoming even bigger long-term cap burdens

…which raises issues about the long term viability of the team, if the current cap number does not appreciate substantially in 2013, 2014, and 2015.

And if your response is: “…of course the cap is going to increase…” I have some very valuable real estate in Florida, St. Louis, and Oregon to sell to you, that was purchased with the same mind-set.

United we Stand, melded like Steel
To Roger Goodell, We'll never Yield.

by PaVaSteeler on Feb 10, 2012 3:29 PM EST reply actions

the steelers certainly seem to be acting upon the assumption that the cap would go up a lot

I seem to recall when we went over the cap numbers for this year a few months ago the rules as we understood it to be would be this year would be a tough year for the cap but with the renegotiation of tv rights next year the cap would go way up… so they signed a bunch of dudes last year with the intention of re-negotiating this year to push the cash to the higher cap years…
anyways I’m pretty sure the steelers know what they’re doing.

by dbills on Feb 10, 2012 3:47 PM EST up reply actions

Isn’t everyone expecting the cap to jump once the new TV deals are signed in 2013 (I think?). With the NFL getting stronger than ever ratings this season and a long term CBA locked in, I don’t see why that’s so crazy to think. However, I do venture to say that Omar Khan knows far better what he is doing than anyone on here.

"It’s easy to lie with statistics, but it’s easier to lie without them." -Fred Mosteller
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by John Stephens on Feb 10, 2012 4:10 PM EST up reply actions

This

The Cap is going to grow substantially. What the Steelers are planning for is to not be a team active in FA the season that it does. There will be teams with 20+million in cap space in a couple years, the Steelers will not be one of those teams. You also have to keep in mind that a great many of the big contracts will come off the books and be replaced by our next crop of veterans over the next 3-5 years.

Omar Khan is far too brilliant to sell tomorrow for today.

by Michael Uhlhorn on Feb 10, 2012 4:14 PM EST up reply actions

My point is...

…just as in real estate, where you have those who always assume rents will increase, so they base their underwriting on commercial acquisitions on that fact to justify the price they pay.

I don’t doubt for a minute the Steelers know what they’re doing; however, I also didn’t doubt RE firms would act reasonably, but after seeing what the industry did in 2007 and early 2008, as well as other times in the past, I’ve come to the realization that even the most logical thinking groups fall prey to short-term thinking. The Redskins did it for more than a decade, the Cowboys do it, etc.

The Steelers are thought to be “too good to fail”; but that’s what everyone thought about Lehman Brothers, Bear Sterns, Wachovia, and especially about AIG, who everyone held up as “the standard”.

I’m not saying “…look, the Emporer has no clothes…”, but I am whispering a warning, like the Roman soldier in the ear of his general as they return to Rome, about hubris; though I feel like a lone soul, in the wilderness right now.

United we Stand, melded like Steel
To Roger Goodell, We'll never Yield.

by PaVaSteeler on Feb 10, 2012 4:28 PM EST up reply actions

*Emperor

United we Stand, melded like Steel
To Roger Goodell, We'll never Yield.

by PaVaSteeler on Feb 10, 2012 4:29 PM EST up reply actions

We’ll talk in two years. I really don’t see it happening.

Also, the comparisons to the Redskins and Cowboys are pretty poor. We function nothing like either of those organizations, especially the Redskins.

"It’s easy to lie with statistics, but it’s easier to lie without them." -Fred Mosteller
Follow me on Twitter

by John Stephens on Feb 10, 2012 4:34 PM EST up reply actions

The reference to the 'Skins and 'Boys...

…was meant to illustrate the concept of short-term results vs long term planning that I was referencing, nothing else.

United we Stand, melded like Steel
To Roger Goodell, We'll never Yield.

by PaVaSteeler on Feb 10, 2012 7:24 PM EST up reply actions

Lehman Brothers, Bear Sterns

Off topic, but those two companies didn’t fail. A group of genius scammers tanked them in order to make billions of dollars. IIRC they played those guys and AIG against each other or something like that. Credit-default swaps, I think they are called.

Can I get some hot sauce for my doughnut?

by FrankWyt on Feb 10, 2012 5:26 PM EST up reply actions

You have to look at the underlying issues as to why...

…the events occurred; the “genius scammers” were allowed to operate in pursuit of the profits produced from mortgages on properties that would never go down. Even had these “scammers” not concocted bogus vehicles and trades, the same crashes would have occurred because the companies’ finances were built on a “foundation of cards” that could not withstand the realities of the marketplace.

United we Stand, melded like Steel
To Roger Goodell, We'll never Yield.

by PaVaSteeler on Feb 10, 2012 7:23 PM EST up reply actions

Ay man how do you use the sarcasm font?

"If you havin' dragon problems I feel bad for you son, I got 99 arrows but my knee took one."

by Riddlah. on Feb 10, 2012 7:42 PM EST up reply actions

@stuff@

I may not be the most noble of men but in a town of lepers, im the one with the most fingers.

Finally we get to see J Lin!!! Giant LB'zz

by Troy O on Feb 10, 2012 8:51 PM EST up reply actions

Thanks brah

"If you havin' dragon problems I feel bad for you son, I got 99 arrows but my knee took one."

by Riddlah. on Feb 10, 2012 9:05 PM EST up reply actions

Agreed

We are in big trouble if the cap does not increase substantially in the coming years. It’s a good bet that it will, but certainly no guarantee. I can’t blame the Steelers for the current course of action however, and unless we do some really stupid $#!+ (like keep Kemo, pay Hampton 8 mill, pay Ward 4 mill, ect…) we are managing the cap as well or better than any other team in the NFL.
Figuring out how the keep all the stud players who we signed to long-term deals is at the end of the day “a good problem to have”.

by Kansas Steel on Feb 10, 2012 4:10 PM EST reply actions

If the players play out their contracts,

than the shuffling of monies really isn’t that big of a deal, right? In other words, so long as Woodley and Timmons play healthy for the next 6 years, these maneuvers on their contracts won’t really matter. It’s the older players that can’t play well the last year of their contract that would be the problem. So the Ike re-structure could be the worst of all.

Is this the line of thinking? This is how it’s been explained to me, but i welcome any more knowledge on the issue. And no, i didn’t make it out of 5th grade, if that’s your next question- don’t judge me!

by crosby87 on Feb 10, 2012 4:48 PM EST reply actions

That is pretty important, as well as the salary cap going up. There is definitely a deferral of cap expense being pushed down the line so I’m not sure I would say it isn’t that big of a deal or won’t really matter. The increased cap is going to become important. But, as you said, these guys need to continue to provide value for the length of their contracts. That is every bit as important.

by worldtrip on Feb 10, 2012 7:22 PM EST up reply actions