Lucas release costs the panthers $8.33 million in dead money

BasX · Mar 11, 2009

Though the Panthers saved, per our calculations, a minimum of $2.375 million in cap space by cutting cornerback Ken Lucas, he nevertheless will count a whopping $8.33 million against the team’s 2009 salary cap.

The charge comes from bonus proration applicable to 2009 and 2010, the final two years of Lucas’ contract. Because this is the last capped year under the CBA, any release or trade of a player results in the full acceleration being absorbed this year.

Of the $8.33 million in dead money, $3 million comes from a February 2008 renegotiation, which dropped Lucas’ base salary last season to $800,000.

It also appears that Lucas was owed a $2 million roster bonus on April 15; if so, his cap number would have been $12.705 million for 2009, and the net savings from cutting him would have been $4.375 million.
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http://www.profootballtalk.com/2009...costs-the-panthers-833-million-in-dead-money/

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Lucas release costs the panthers $8.33 million in dead money

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Lucas release costs the panthers $8.33 million in dead money

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