QB’s windfall: No matter where he signs, his Panthers contract is guaranteed, with no offset. Andrew Brandt
Jake Delhomme is visiting the Browns today, and a source close to the situation has told me the Browns “want him bad.” In the event the Browns do sign him – which I think will happen – it will be another windfall for Delhomme. Unlike the contract discussed here Wednesday with the Eagles and Michael Vick, Delhomme has no offset in his Panthers contract. He’ll receive the entire amount owed by the Panthers ($12.68 million), no matter what he might receive from the Browns (more on that below).
A deal to forget
As detailed previously, the Panthers decided to extend Delhomme on April 23, 2009, as he entered his contract year. Delhomme made $6.325 million last season but was benched late in the season as signs of buyer’s remorse started to show in Carolina. Then last week, the Panthers assigned the “super tender” – first- and a third-round compensation -- to Matt Moore and released Delhomme. Matt Moore? Who knew?
Delhomme’s contract had options, non-exercise fees and supersedes that ensured he would make $12.675M guaranteed after 2009 as long as the contract continued.
But what if the unthinkable – a release prior to 2010 – happened, never reaching the time to trigger the option or non-exercise fee or supercede? Fortunately for Delhomme, and unfortunately for the Panthers, he was protected.
Protection from release
The contract provides for guaranteed salaries in 2010, 2011 and 2012 and ensures payment to Delhomme, even if he’s terminated (his contract, not him) prior to 2010, for the following amounts totaling $12.675M:
2010: $4.16M
2011: $5.12M
2012: $3.395M
So Delhomme had $12.675M of protection no matter what the circumstances after 2009.
No offset
Delhomme’s agents were able to further insure him by a lack of offset on the guarantee. As I wrote yesterday in my Vick post, the Eagles are protected in the event they release Vick and he signs elsewhere, with the $1M he has guaranteed in 2010 offset from any compensation he receives from another team if he’s released.
The Panthers will get no such relief. There is no offset of the $12.675M owed to Delhomme. No matter how much he signs for with another team – including the Browns -- that money is not credited against the Panthers’ obligation.
The $4.16M for 2010 will be paid out as it was scheduled this season.
The remaining guarantee of $8.515M will be paid out on March 1, 2011, for the present value of that money according to the one-year treasury note rate published in the Wall Street Journal on Feb. 1 next year. Not really much, if any, relief, but at least Delhomme will be off Carolina’s books a year from now.
An NBA contract?
It’s one thing for teams to have cap charges of players no longer on the team, as is the case during capped years unlike 2010. It’s quite another – and much less common – for a team to have cash charges to a player no longer on the roster for one or more seasons. This is rare indeed for the NFL, although much more common with NBA contracts, as teams often buy out future guarantees.
The Delhomme contract proves the mantra that all NFL front offices realize at different times: Some of the best deals are the ones that are not made.
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For a look at six quarterbacks who could impact a new team, check out this article from Bleacher Report.
Delhomme is certainly not a "reincarnation of Farve," but what options does Holmgren have? Both Bradford and Clausen could be off the board by the time the Browns pick, and then what are the Browns going to do, start McCoy? Delhomme is probably the best free agent QB on the market, and is markedly better then Anderson, Quinn or any other QB the Browns could get through the Draft.
So the Browns will be looking for a QB in the draft then? I don't see Mangenius working wonders with Jake and Holmgren isn't the coach. Quinn reminds me of Leinert. Both have been pretty unimpressive in the three years in the league.
I follow ND but I don't see Clausen as a star. He can throw a long ball but he isn't exactly a rifle. he will benefit by there being a lack of perceived quality in this years draft class. He better get with the right teacher otherwise he is Rick Mirer waiting to happen
Delhomme...? Oh sweet mother of mercy, I think I'm gonna be sick. I think I'd rather have Vick. Can't you just hear the "Dawg Pound" with Vick in Orange and Brown?
If I was a NFL player, I would fire my agent and hire Delhomme's. This guy has to be the great agent ever!
Probably why Marty Hurney is done in Carolina.
Let the Cowher rumors start.
IMO the contract was structured to stick a ceiling on anything peppers could try and get. Had Jake played the way he was off the Super Season, Peppers might have stayed around to ride along on the success bandwagon. The money in the deal would have provided a way to sign Peppers for the same or less.
As for Cleveland, this is simply a slap to Brady's agent to play with the team or take a hike. It is not about adding Jake for more than the minimum so much as it is a signal to the guy ahead of whoever comes in to shape up or ship out....
"a source close to the situation has told me the Browns “want him bad.”"
i.e. his agent said that.
Holmgren has not been a great evaluator of talent, except, perhaps, with quarterbacks. Assuming that is so, my guess is that he is bringing in Delhomme to drive down the price with a QB trade that he has in the works.
The premise is that if the team that Holgren wants to make a deal with thinks Holmgren is serious about signing Delhomme, they will lower their price to make the deal (before Delhomme is signed).
How is that for speculation? It's better than to think Holgren is serious about starting Delhomme. If that happened, for sure Mangini is out the door, probably in mid-season. Then who would take over??? It's not like they have a three time Super Bowl coach on the payroll anywhere.
Tcostant wrote:
"If I was a NFL player, I would fire my agent and hire Delhomme's. This guy has to be the great agent ever!"
Best comment ever.
God save the Browns if Craphomme wears the burnt orange and seal brown!
Craphomme was neutralized last year when teams 2 manned Steve Smith and he was about as effective under center as Crapderson was in CLE.
Please, we need a cerebral QB, not someone like Crapderson or Craphomme who can't even spell Wonderlic!
Wow, if Holmgren signs Delhomme, they'll be calling for his head before his stint even gets started. Keeping Mangina, now this?
Holmgren had too much power in Seattle and the guys coming in were too squeeky clean, no
I have no idea what the new coaching adninistration will do. They've played their cards close to their chests and their poker faces on. Time will only tell what the hawks will do beetween now and the draft.
Like to see Whitehurst on the roster.
players with attitudes
and Pouncey. If we traded back to the late first, added a third round pick, and took Pouncey I would be extremely happy. He would be an immediate upgrade over Wells at center.
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Mar 11, 2010
01:45 PM
Oh my, sometimes Mr. Brandt, you make it too easy. So the Browns "want him (Delhomme) bad". Oh my, that is just what they are going to get. Bad. And then worse. And they'll pay a pretty penny for this QB. I really don't understand. Does Holmgren believe Delhomme is the reincarnation of Favre? Quite simply, I don't get it.