Steve Foley - Salary cap numbers

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Shamrock

Well-Known Member
Jun 18, 2006
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Pretty soon, someone will ask about the cap ramifications if the Chargers let Foley go after the 2006 season.

Original contract Foley signed with San Diego.
In March 2004, Foley signed a $4 million, three-year deal with a $1.25 million signing bonus.
USA Today Salary database - Foley

2004
Base: $ 535,000
Signing: $ 1,250,000
Other: $ 2,500

2005
Base: $ 540,000
Signing: $ 0
Other: $ 1,751,430

Note: I believe that 2005 $ 1.751 a one time roster bonus that was amortized against the 2005 cap. You can see that by the cap charge the Chargers took for Foley in 2005 ( $ 2,708,096 ) in the USA Today link.

..$417k (1/3 2004 signing bonus)
+ $ 1.751k (2005 extension roster bonus)
+ $ 540k (2005 base)

= $2.708 mill

NFLPA.org - Foley

2006
Base: $ 775,000
Other: $ 875,000 (Roster bonus, per UT article)

March 16th, 2005 Chargers sign Foley to three-year extension (through 2009).

Stories like this are wrong.
In March 2005, the Chargers signed Foley to a three-year contract extension through 2009 worth roughly $10 million, including a signing bonus of more than $3 million.
$3 mill "signing" bonus is wrong. IMO, the $3 mill is so-called guaranteed money. A combination of the 2005 $ 1.751 mill roster bonus, his 2005 base salary, and the 2006 $ 875k roster bonus. Those three amounts roughly equal $3 mill. This is where the press and agents (and radio/tv pundits) totally confuse fans about contract amounts, and how those funds are paid and spread into the current and future caps.

*edit*
 

Shamrock

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2006 cap charge

1/3 2004 signing bonus: $ 416,667
2006 Base: $ 775,000
2006 roster bonus: $ 875,000

Total 2006 cap charge: $ 2,066,667

2007 cap charge

There will be ZERO dead space if Foley is released after 2006, because the final amortization of his 2004 signing bonus was taken against the 2006 salary cap. All other bonuses that have been paid were one time hits to the cap in the form of roster bonuses.
 

exodus

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Nov 4, 2005
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yeah, but if he got shot off the field doing something that he shouldn't have been doing, doesn't that automatically void his contract? I thought there were all sorts of don't-do-this-or-that clauses in a typical nfl contract:icon_huh:
 

Shamrock

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exodus said:
yeah, but if he got shot off the field doing something that he shouldn't have been doing, doesn't that automatically void his contract? I thought there were all sorts of don't-do-this-or-that clauses in a typical nfl contract:icon_huh:
The simple answer ......

If the Chargers exercise their option not to pay Foley his 2006 base salary of $ 775,000, then that money will be added to the money currently available to spend in 2006 (ie, in addition to the $$$ SD is currently under the cap.)

Foley has a current 2006 cap charge of $ 2,066,667. That is allocated against the current cap.

If San Diego decided to try and collect the 2006 roster bonus of $ 875,000 (I'm sure the NFLPA would appeal on Foley's behalf) then that money might be added to SD's 2007 cap. Just depends on when SD asks for it and when it collects it (if they do.)
 

BFISA

Well-Known Member
Nov 16, 2005
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Alla that shit makes my head essplode, but I guess its necessary :icon_eek:
 

Shamrock

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Jun 18, 2006
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One of the guys at Chargers.com posted this. Haven't found the link yet:
Approximately 10 Players, concerned over the fact that Steve Foley would lose contract $, sent veteran WR Keenan McCardell as a representative to convey to Marty Schottenheimer their concerns over Foley's contract.

Scottenheimer returned with a message from management:

Foley would recieve this years bonus and half of his base salary. The team could have recouped all of that money but respectfully decided not to. Schottenheimer assured his players that Foley was still receiving money for his work (and the work that he won't do). GM AJ Smith insists the move was made to garner more cap-space and was in no way a slight to Foley. Smith has pledged his services to Foley... telling Foley's agent that "they will do whatever is in their power to help Steve."

-Chris Mortenson.
 

Shamrock

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Trumpet_Man said:
:tup: COOL MOVE CHARGERS !!!! :tup:
I think so too.

It keeps the locker room focused on football, not on Foley's contract. It paints the Chargers management good in the players' eyes, while focusing any negative attention back where it belongs - on the shooter.