ryjam282
02-09-2004, 09:03 AM
Patriots | Smith's Time Running Short? - from www.KFFL.com
Sun, 8 Feb 2004 12:44:09 -0800
Updating ongoing reports, Michael Smith, of the Boston Globe, reports the New England Patriots and RB Antowain Smith, 31, exchanged contract proposals over the weekend. The Patriots are interested in finding a cheaper way to keep Smith on board. He's due a $500,000 option payment for 2004 and is set to receive $2.4 million in salary. If the Patriots decline the option, Smith would immediately become an unrestricted free agent and the Patriots would have to absorb $2.025 million against the salary cap. If the team treats the bonus as a signing bonus and prorates it over the remaining three years, it would only delay the inevitable. Smith is due a $2 million option payment for 2005 and 2006 due after next season.
Since he was released and they have to take that hit, how does this affect there cap now? I thought they were pretty close to being over as it is. Any updated news?
Sun, 8 Feb 2004 12:44:09 -0800
Updating ongoing reports, Michael Smith, of the Boston Globe, reports the New England Patriots and RB Antowain Smith, 31, exchanged contract proposals over the weekend. The Patriots are interested in finding a cheaper way to keep Smith on board. He's due a $500,000 option payment for 2004 and is set to receive $2.4 million in salary. If the Patriots decline the option, Smith would immediately become an unrestricted free agent and the Patriots would have to absorb $2.025 million against the salary cap. If the team treats the bonus as a signing bonus and prorates it over the remaining three years, it would only delay the inevitable. Smith is due a $2 million option payment for 2005 and 2006 due after next season.
Since he was released and they have to take that hit, how does this affect there cap now? I thought they were pretty close to being over as it is. Any updated news?