Raiders, S Michael Huff and DT Richard Seymour Rework Contracts
The Oakland Raiders has started to shave away at their salary cap issues by apparently restructuring the contracts of defensive tackle Richard Seymour and free safety Michael Huff. Saving the team $11.82 million dollars off their salary cap.
Brian McIntyre from Mac’s Football Blog reports, a well-known insider of agents and NFL teams in financial matters, Seymour dropped his base salary to the league minimum ($925,000) and converted the remaining $6,575 million to a guaranteed roster bonus for cap purposes.Meanwhile, Huff’s salary dropped to $700,000, moving additional money into a bonus structure that would drop his cap number from $9.828 million to $3.988 million.Raiders have committed $6.2 million to Tyvon Branch and he is happy to receive the franchise tag earlier last week from the Silver and Black. Numerous reports, have indicated that the Raiders where anywhere from $10 million to $20 million over the salary cap.
Another issue that Raiders must still resolve the matter of linebacker of linebacker Kamerion Wimbley, as it stands Wimbley holds all the chips in this game. No matter what the Raiders take to do with Wimbley’s contract they’re on the hook for $6.5-million he’s owed. Releasing Wimbley would only save the franchise money down the road. But as Bill Williamson of ESPN continues to report that Raiders are expected to release Wimbley barring "a major change," prior to Tuesday and suggests the Chargers could be the favorites to land Wimbley in free agency.
For the Raiders to further benefit to get easily below the salary cap projected at approximately $120 million expect quarterback Carson Palmer, to follow. Palmer is due $12.5 million in salary and he is believe to be the next candidate to restructure his contract on the Raiders.