We finally appear to have received confirmation on an issue lots of you have asked about. Here are the NFL’s transition rules for the 2011 league year. Buried in Section 5(b)(i) is the following:
no signing bonus proration to the League Years of this Agreement shall apply for any Preexisting Contract that was terminated, traded, or assigned via waivers prior to March 11, 2011
In other words, the potential dead money charges that John Clayton has been including in the Jets cap commitments do not need to be accounted for.
According to Jason’s latest calculations, which are updated for the increased minimum salary amounts, that puts the Jets at $7.8m under the cap – and that includes David Harris at his full franchise tender amount of $10.2m.
This is good news for the Jets, but could be even better news for the Raiders and the Jets opening day opponents, Dallas, who had almost three times as much dead money at stake.
Jason has more detailed interpretations of some other rules over at his site.