Just one day I after I posed the question regarding Ladell Betts' future with the team and he's already been given a contract (I'll take my 5% in cash). The news definitely caught me off-guard earlier this afternoon, even before learning of the financial terms I was pleasantly surprised. Well now we have a better idea as to how this contract will shape up. According to sources the deal is for five years with a base salary of $11 million with a signing bonus that will pay him an additional $3.5 million up-front. In addition Betts is set to receive a 2007 roster bonus of $2 million dollars. That's where things start to get a little bit more technical.While the signing bonus is Ladell's as soon as the contract is approved, however the roster bonus is is only paid out on the condition that Betts is on the active roster next summer. Considering they just gave him that signing bonus I'd be willing to bet he'll stay on the roster barring a serious injury between now and then. At first glance it seems like a hefty price to pay for a backup running back, albeit a productive one.
However the Redskins have resident salary cap guru Eric Schaffer at their disposal meaning that the contract is designed to protect themselves for a couple of years. Both bonuses (totaling $5.5 million) will be carried over the length of the contract. This will result in an average salary of $3.3 million dollars per year, assuming the bulk of the base salary is back-loaded the first three years of the deal should only count for about $2.5 million per season.
UPDATE: I think I was initially incorrect about the roster bonus. The entire sum ($2 mil) should count against the team next season. This would make Ladell's total cap number somewhere around $4 million in 2007 ... that seems a bit steep for year one. I hope they've got something figured out to address their depth issues and their whole at strong safety. Danny must have really enjoyed last week's performance.
Sure these numbers may seem like minutia at this point in the year but they'll become extremely relevant when Danny takes his lapdog out for a Springtime shopping spree. What matters most to me is that this is the first sign of a possible change in the owner's philosophy. Locking up Betts before free agency shows that the front office is committing to their core players. Maybe now instead of letting a Ryan Clark go in favor of an Adam Archuleta they'll be willing to invest in continuity. I'm thrilled to see a hard working Redskin get rewarded for all his done for the team, if they had let Betts go in favor of TJ Duckett we'd all start sounding like Steve Czaban.
Comments (Page 1 of 1)
Jack,
I have told you before I am die hard Redskin hater. Me, over at the Bears FanHouse still holds a grudge over you guys taking Wilber Marshall when I was a youngster, so sue me.
Anyway, being in D.C. I hear all about the Skins. This signing of Betts, in my opinion is the smartest thing they have done since Short Stuff bought the team.
I too was caught off guard by the deal. It's great news for the 'Skins, but I almost feel bad for Betts. He could've got a LeMont Jordan-type deal worth double the extension he signed had he tested the market.
This was probably his only chance as an NFL RB to become the No. 1 guy somewhere, and he blew it.
But as I said, good for us, bad for him... unless for some unknown reason he actually had a strong desire to stay a Redskin.
Jesus C-Motts, you should feel good for the guy. He wanted to remain a Redskin and he signed a very reasonable contract.
Backup RB for the rest of his career making about $11 mill vs. starting RB elsewhere making twice that.
Again, I'm happy he wanted to stay a Redskin, but his decision makes little sense to me.
The signing of Betts appears to be a smoke screen for the eventual release or trade of Clinton Portis. Before you hit me in the head with an anvil, bare with me for a moment. I'm going somewhere with this. Flashback to the ridiculous contract Stephen Davis signed years ago. I believe he was released after the second or third year of that contract (I may be wrong. I've been wrong before and I will be wrong again). Now if Clinton is traded or released, then the Redskins have a starting running back, in Bettis, at below the market value for a starting running back. Now Betts is not the homerun threat that Portis is but Bettis is a better pass receiver and if Al Saunders is hanging around for another year then Betts is a better fit for that style of offense. Now if Portis is not traded or released, how do you justify an 8-9 million dollar backfield? Doesn't make sense to me.
I meant Betts, not Bettis. Please forgive the typo
The difference between Davis and Betts is that Davis had already passed his usefulness in the NFL. Betts has five years on his deal that will take him into his early thirties. Davis' contract was signed further on in his NFL career.
I clearly misread the earlier comment because I'm an idiot. Yeah Davis was released because he was going to carry a ridiculous cap number (around 11 mil) going into the next season. While I'm not sure the Redskins are already thinking that far ahead I would not rule out the possibility of Portis being moved in some fashion.