|12-28-2012, 10:03 PM||#1|
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Join Date: Jul 2004
Buccaneers Free $23 Million For 2013 Salary Cap By Restructuring Deals
The Tampa Bay Buccaneers helped position themselves financially for what could be another big spending spree in free agency this offseason.
The Bucs recently approached two big ticket free-agents from 2012 – receiver Vincent Jackson and guard Carl Nicks – and asked them to turn the majority of their 2013 salaries into guaranteed 2012 bonuses, general manager Mark Dominik confirmed on Friday.
The deals allow the Bucs to prorate the guaranteed payouts over the final four years of each player's contract, creating a total cap savings of approximately $23 million for the 2013 season.
Jackson was originally scheduled to make $13 million and Nicks $12.5 million in 2013, with both salaries guaranteed.
If the federal government doesn't extend the Bush-era tax rates and 2013 rates rise to 39.6 percent, Jackson will have saved $560,000 and Nicks $542,000, according to Pro Football Talk.
Source: Tampa Tribune
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