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Cody Parkey gets the boot


malagabears

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2 hours ago, Tyty said:

Making a doofy bears fan feel mirth is like getting an HJ from a fat girl, like it’s kinda nice while it’s going on but later on you just feel existential dread 

Bleh. Just reading that made me hope some poacher finally got Tess Holliday.

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4 hours ago, AZBearsFan said:

Did the team announce this? If so I hadn’t seen that, and was assuming his agent put it out there. Rapoport seemed to think he’d catch on elsewhere quickly, but I certainly have my doubts. 

 

Announce what?  I'm unclear on what you're asking about.  Offset language?

While I have no idea what the specific terms of Parkey's deal are it's often been written about and discussed in the past that any monies due a player under contract guarantees can be offset by monies earned from another team once that contract is executed.  The total amount is assured but who pays what portion will be decided by the terms of each contract. 

To the best of my knowledge this is fairly typical of all NFL contracts yet I've never seen any team announce it since it's an internal matter.  I'm looking at Pace's motivation for releasing him now before having his replacement and taking a $5.187 mil dead cap hit.   Parkey's $3.5 mil salary and roster bonus are guaranteed so that won't come off the books or the cap now.

The only possible reduction for that is an offset based on a new deal he signs elsewhere so I'm thinking that's Pace's motivation to announce his forthcoming release and give permission for Parkey and his agent to begin to seek a new spot for him and the sooner the better for our cap situation. Parkey was due a $750k roster bonus next month so his release eliminates that if he's signed before it's due.

Once he's signed again, IF he's signed again, whatever cash bonuses and salary he receives for 2019 should offset against the $3.5 mil we owe him and we can add that back into our cap.  Then if we do designate him as a June 1st release Pace can halve that dead cap hit and take $2.594 mil in 2019 and the balance in 2020 and we gain a little cap space just by scraping it up from wherever we can.

Parkey's signing bonus is not recoverable via an offset.  That money has already been paid to him.  But his 2019 salary and roster bonus guarantees should be fair game as far as any offset provisions go.  Since the salary and roster bonus make up the greatest portion of his dead cap hit any offset would also reduce the amount of dead cap dollars. At least that would be my understanding of a typical NFL Player Contract.

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12 hours ago, Tyty said:

Making a doofy bears fan feel mirth is like getting an HJ from a fat girl, like it’s kinda nice while it’s going on but later on you just feel existential dread 

Still....might be better than a quickie with Rosie. ;)

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29 minutes ago, RunningVaccs said:

I could have sworn hearing that this contract did not have offset language, anyone know for sure?

I would think we should see it written somewhere if anyone really knows but I'd also find it odd that offset language wouldn't be a standard part of every NFL contract.   It is with coaching contracts and unless the CBA has some kind of prohibition against it I would think it only makes sense to have it.

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You know when you have one of those weeks where things just seem like they are piling on?

5 year old was sick last week, 2 year old is sick this week, work was crazy and the schedule went to ****, I spent 8 hours raking the snow off my roof and cleaning up the yard and it snowed that night.

This made the end of the week a little better.

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2 minutes ago, WindyCity said:

You know when you have one of those weeks where things just seem like they are piling on?

5 year old was sick last week, 2 year old is sick this week, work was crazy and the schedule went to ****, I spent 8 hours raking the snow off my roof and cleaning up the yard and it snowed that night.

This made the end of the week a little better.

Best wishes for a better one coming up.

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7 hours ago, soulman said:

Announce what?  I'm unclear on what you're asking about.  Offset language?

Announce that he’s being released. I didn’t see that tabbed with the source being the team, and because of that I took it that the team told Parkey and his reps, and that they leaked it to the media. 

 

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10 hours ago, AZBearsFan said:

Announce that he’s being released. I didn’t see that tabbed with the source being the team, and because of that I took it that the team told Parkey and his reps, and that they leaked it to the media. 

 

 

Ah......I think you're correct.  There would be no official reason for announcing it in advance only a strategic reason for giving Parkey and his agent a heads up so they can get a head start on relocating him with another team. 

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