Post by lazarus on Mar 7, 2005 18:06:36 GMT -5
Coles Deal Could Cost Skins
By Nunyo Demasio
Washington Post Staff Writer
Monday, March 7, 2005; Page D03
By trading wide receiver Laveranues Coles to the New York Jets, the Washington Redskins now have diminished funds to try re-signing cornerback Fred Smoot. And the financial quandary may cause Washington to reduce its standing offer -- including a $10.5 million signing bonus -- which would almost certainly lead to Smoot's departure. Smoot initially declined the offer last season when both sides desired an extension.
Swapping Coles for Santana Moss brought a salary cap hit of roughly $9 million, and leaves the Redskins with less than $2 million under the cap. Although that's sufficient to re-sign Smoot to the current offer, it would nonetheless prevent other signings.
Will the Redskins' shrinking salary cap squeeze out cornerback Fred Smoot? (John McDonnell - The Washington Post)
• Effects of the Laveranues Coles trade ripple through the team's salary cap.
• Wideout David Patten signs but Antonio Pierce leaves for the Giants.
• The Giants make an offer for Antonio Pierce that the Redskins will not match.
• Redskins finalize a contract extension with Chris Samuels.
_____ On Our Site _____
• Audio: Gibbs talks about his future in racing, football. (Jan 25)
• Survey: What is the most pressing issue for the team this offseason?
_____ E-mail Newsletter _____
Looking for Redskins coverage you can't find anywhere else? Sign up for our free e-mail newsletter.
_____ NFL Insider _____
• Post's Mark Maske on all things NFL -- only on washingtonpost.com.
_____NFL Basics_____
• Scoreboard
• Standings
• Statistics
• Team index
• NFL Section
_____Free E-mail Newsletters_____
• Washington Nationals
Description | Sign Up Now
• Redskins
See a Sample | Sign Up Now
• Maryland Terps
See a Sample | Sign Up Now
The Redskins hadn't ruled out adding a pass-rushing specialist or blocking tight end through free agency. And Washington must still re-sign some of its unrestricted free agents, such as offensive lineman Ray Brown; restricted free agents who may get offers from other clubs; and draft picks. To ease the financial bind, Washington plans on saving almost $2 million by trading Rod Gardner for a draft pick. And the club can create more cap space by releasing certain players. But Washington already restructured several contracts and is running out of accounting maneuvers.
The Baltimore Ravens lost their free agent cornerback Gary Baxter after reducing an initial bonus offer of $10 million to $7 million. After the change, Baxter signed with the Cleveland Browns. However, Smoot's options may become limited depending on the destinations of two of the top cornerbacks still available in free agency: Tennessee's Samari Rolle and New England's Ty Law. (Rolle is reportedly close to signing with the Kansas City Chiefs.)
By Nunyo Demasio
Washington Post Staff Writer
Monday, March 7, 2005; Page D03
By trading wide receiver Laveranues Coles to the New York Jets, the Washington Redskins now have diminished funds to try re-signing cornerback Fred Smoot. And the financial quandary may cause Washington to reduce its standing offer -- including a $10.5 million signing bonus -- which would almost certainly lead to Smoot's departure. Smoot initially declined the offer last season when both sides desired an extension.
Swapping Coles for Santana Moss brought a salary cap hit of roughly $9 million, and leaves the Redskins with less than $2 million under the cap. Although that's sufficient to re-sign Smoot to the current offer, it would nonetheless prevent other signings.
Will the Redskins' shrinking salary cap squeeze out cornerback Fred Smoot? (John McDonnell - The Washington Post)
• Effects of the Laveranues Coles trade ripple through the team's salary cap.
• Wideout David Patten signs but Antonio Pierce leaves for the Giants.
• The Giants make an offer for Antonio Pierce that the Redskins will not match.
• Redskins finalize a contract extension with Chris Samuels.
_____ On Our Site _____
• Audio: Gibbs talks about his future in racing, football. (Jan 25)
• Survey: What is the most pressing issue for the team this offseason?
_____ E-mail Newsletter _____
Looking for Redskins coverage you can't find anywhere else? Sign up for our free e-mail newsletter.
_____ NFL Insider _____
• Post's Mark Maske on all things NFL -- only on washingtonpost.com.
_____NFL Basics_____
• Scoreboard
• Standings
• Statistics
• Team index
• NFL Section
_____Free E-mail Newsletters_____
• Washington Nationals
Description | Sign Up Now
• Redskins
See a Sample | Sign Up Now
• Maryland Terps
See a Sample | Sign Up Now
The Redskins hadn't ruled out adding a pass-rushing specialist or blocking tight end through free agency. And Washington must still re-sign some of its unrestricted free agents, such as offensive lineman Ray Brown; restricted free agents who may get offers from other clubs; and draft picks. To ease the financial bind, Washington plans on saving almost $2 million by trading Rod Gardner for a draft pick. And the club can create more cap space by releasing certain players. But Washington already restructured several contracts and is running out of accounting maneuvers.
The Baltimore Ravens lost their free agent cornerback Gary Baxter after reducing an initial bonus offer of $10 million to $7 million. After the change, Baxter signed with the Cleveland Browns. However, Smoot's options may become limited depending on the destinations of two of the top cornerbacks still available in free agency: Tennessee's Samari Rolle and New England's Ty Law. (Rolle is reportedly close to signing with the Kansas City Chiefs.)