Von renegotiated

[YardRat]

Saves about $8mil per reports

[Skooby]

Re: Von renegotiated

Saves about $8mil per reports

This is great news, Von wants to win.

[Novacane]

Re: Von renegotiated

Paycut?

[Novacane]

Re: Von renegotiated

restructure Josh and they'll be about 10 million under.

[Ginger Vitis]

Re: Von renegotiated

It's a payout.. not a restructure

[Ed]

Re: Von renegotiated

@FieldYates
The Bills and pass rusher Von Miller agreed to a renegotiated contract, per source.

The deal has a base value of $8.855M in 2024, with the chance to make up to $20M with incentives (up from $17.5M under the old terms).

The move saves Buffalo $8.645M in 2024 salary cap space.

[Novacane]

Re: Von renegotiated

It's a payout.. not a restructure

Do you mean pay cut? Never heard of a pay out. ?

[Ginger Vitis]

Re: Von renegotiated

Do you mean pay cut? Never heard of a pay out. ?

Paycut

[mightysimi]

Re: Von renegotiated

I think they just shifted a bunch of money into the not likely to be earned incentive category which doesn't count against the cap. Based on last years stats, you could probably have it super low like 2 sacks or 7 tackles or something. I think then any incentives earned, go on next years cap. It is a way to save now without having to tie us to Von further down the line.

[sukie]

Re: Von renegotiated

I think they just shifted a bunch of money into the not likely to be earned incentive category which doesn't count against the cap. Based on last years stats, you could probably have it super low like 2 sacks or 7 tackles or something. I think then any incentives earned, go on next years cap. It is a way to save now without having to tie us to Von further down the line.

let’s just hope we collectively want to be tied to Von further down

[ghz in pittsburgh]

Re: Von renegotiated

Breakdown

Based on @rapsheet's report here, Von Miller's 2024 cap hit has been reduced from $23,784,000 down to $15,139,000. $5.25M of his incentives appear likely to be earned in 2024, & the #Bills can free up almost $5M of cap by moving on after the upcoming season. https://t.co/q6CBks0ldG pic.twitter.com/ZChLtEYpgE

— Spotrac (@spotrac) March 7, 2024

[Canadian'eh!]

Re: Von renegotiated

I want to know how much this will hurt us in future years.

[DraftBoy]

Re: Von renegotiated

I want to know how much this will hurt us in future years.

Good point. I wonder if they added void years.

[ghz in pittsburgh]

Re: Von renegotiated

I want to know how much this will hurt us in future years.

Some fine print on Von's original contract:

• $45M guaranteed at signing (signing bonus + 2022 salary + 2023 salary + 2023 roster bonus + $10.71M of 2024 salary)
• Remaining $6.435M of 2024 salary fully guarantees 03/18/2024

So basically if we don't cut him - which we all know we can't realistically, in 4 days, Von's base salary for 2024 (10.71 + 6.435M) are guaranteed.

The renegotiation is take that literally guaranteed 17.145M 2024 salary into 1) a 7M signing bonus (so all paid now), 2) a 1.5M salary (will be paid in season but I'd have to believe the guarantee clause stands), 3) 8.645M reachable incentives (something like games played, tackles made, sacks) and 4) around 2.855M hard to reach inventives (something like NFL MVP, superbowl MVP, voted to Pro Bowl etc.).

Into his pocket this year 7+1.5 for sure and likely additional 5.25 from the 8.45 incentive for a total 13.75 in 2024 vs 17.145 if nothing happened.

For the Bills, this year from Miller, the cap will be 7/4 + 1.5 + 5.25 for a total of 8.5M. The total cap saving is 17.145 - 8.5 = 8.645M this year. The Bills added 1.75M cap hit for each of the next 3 years of Von's contract.

[sukie]

Re: Von renegotiated

My head hurts