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December 12, 2006

Basanez deal to free 2007 salary cap space

We probably won’t know much on Jake Delhomme’s health until later in the week, but one thing is certain when it comes to quarterbacks and the Carolina Panthers: Rookie Brett Basanez, who was signed off the practice squad last week, is assured of a place on the 53-man roster for the rest of the season.

That was guaranteed when the Panthers signed Basanez to a very creative contract over the weekend. Very quietly, the Panthers signed Basanez to a deal for three games that, at least on paper, has the potential to be worth $1.6 million. Basanez also has a salary cap figure of $1.6 million for this year.

Realistically, Basanez never will see about $1.5 million of that money. The contract includes $1.5 million of incentives that Basanez has no chance to reach, even if he were to take every snap for the rest of the season.

If that doesn’t make a lot of sense, it shouldn’t because it’s merely a matter of creative accounting. What general manger Marty Hurney was doing was preparing for 2007. As long as Basanez stays on the roster the rest of the season, the Panthers will get a $1.5 million salary cap credit for 2007.

Other NFL teams have been doing similar deals in recent weeks to create room for next year. The Panthers are likely to do another deal or two like Basanez’s in the next week or two.

Posted by Observer staff on December 12, 2006 at 08:14 PM | Permalink

Comments

Wow. So it's come down to creative accounting already. Go on ahead and scratch 2007 off. How's 2008 looking?

Posted by: Stinger | Dec 12, 2006 9:23:00 PM

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