Jerry Jones Is A Focking Idiot

[EternalShinyAndChrome 4,251]

1 minute ago, Mike Honcho said:

The accounting isn't that bad.

 

Cap hits…on paper

As far as the cap hits go, they’re well below his average salary for the first three seasons. In 2025, he’ll count about $10 million against the cap. Then it’ll be $19.24 million in 2026 and $26.85 million in 2027. In total, the Packers will have paid him $124 million over those three seasons and will have only accounted for $56.09 million of that (45 percent) on their salary cap for those seasons.

An interesting part of his contract is that there are two void years added to the end of the five years, which will help the team spread the option bonuses of 2026 ($38 million) and 2027 ($34.44 million) over five seasons of cap accounting. So from 2026 to 2030, the Packers will be paying $7.6 million on the cap each season for Parsons’ $38 million 2026 option bonus. From 2027 to 2031, the Packers will be paying $6.89 million on the cap each season for Parsons’ $34.44 million 2027 option bonus.

The dead cap, the option bonuses and void years

Because of the unique structure of this deal, there are really two outs for the Packers if stuff starts to turn south.

The first opportunity they have to get out of the deal is actually the 2026 offseason, before his $38 million option bonus is paid. Because the only dead money on the deal, in a trade, would be the prorated $44 million signing bonus, the Packers can basically get out after paying him $45 million for the 2025 season and would only have to eat $35.2 million.

Of course, it would also take a trade suitor to be willing to take him on.

If Green Bay is willing to go down the path of Parsons making the 2026 roster — which is a near lock to happen — then he’s basically going to be locked down by the Packers through at least the 2027 season.

Because of the roster bonuses (which will allow the cap accounting to be spread over five years) and the void years tagged at the end of the deal (ensuring that there will be five years to spread those 2026 and 2027 roster bonuses over), this sort of functions as a three-year contract that will pay Parsons around $124 million cash ($41.33 million per year).

Why a three-year deal? Because in 2028 Parsons’ cap hit balloons to $64.29 million, more than his 2025-2027 cap hits combined ($56.02). At that point, the Packers will probably renegotiate his deal. In the 2028 season, he’ll have a dead cap of $67.95 million if the team wants to move on from him, so it’ll be unlikely that the team will trade him until at least 2029, as long as they choose to keep him through his 2026 roster bonus.

The amount of cap space they will have pushed forward by that point will simply be too much to warrant any movement. Even if the Packers have the stomach to have Parsons to play out his $63.84 million and $66.84 million cap hits in 2028 and 2029 (the highest non-quarterback cap hit in the league right now is $38.15 million this year), then they’re still on the hook for $21.37 million in cash accounting on the Parsons contract in 2030, a year in which he’ll no longer be under contract with the team.

In truth, the Packers will probably have to convert at least some of that 2028 salary ($40.55 million) into a signing bonus to lower his cap hit down from $63.84 million. So you can go ahead and assume that the credit card debt in 2030 will be much higher than the $21.37 million that will be on the books if he plays out his full deal as is.

Maybe now I don't feel so bad!  I'm all in now!