I mean, God forbid the guy wants his money. You guys act like they want to take 15 fucking dollars away from him--Its $8million! I'm sure if you got injured ON THE JOB and your employer tried to cut your salary to 1/9 of what it was, and said "you can earn it back if you can meet these goals that depend directly on the chance that you recover from your injury," you wouldn't go for it either. 4-5million is NOT a bad price for Pennington, considering he was at 12.
anything over a dollar is to much for him... cut him, give him his 12 mil now and be rid of him. Move on people, his time has come and gone... Ellis
1 year at 4-5million >>>>0 years at 12 million. There's no reason to cut him if hes willing to take a 50% + paycut.
I think the argument for restructuring Chad is exactly that though, Ellis. By restructuring his ass (and I'm talking MEANINGFUL restructure, not just a restructure in name sake only) we are working toward a fullscale rebuild, not piecemeal patch-up. Keep his ass on the bench for $1.5 million and get the Cap cost down on his contract. This way, he can wave towels for us while we go about the business of bringing in somebody who we can groom to actually throw a football farther than 20 yards.
This is convoluted thinking, though, 911. The real world revolves around what the market will bear today, not what it once was, otherwise I've got some JDSU stock I want to sell you this afternoon. JDSU sold for $110 at it's peak. Today it's under $5. But I'll sell you some of mine for HALF of what it once was... $50! Sounds like a good deal, right? You can buy it for less than half of what it once was! My above scenario is for instructional purposes only, of course. I really don't own JDSU stock, thank God. But the point is, Pennington is worth today whatever the market is for him today, not what it was yesterday, no matter how small the percentage. The proper way to look at Pennington is to mentally picture yourself going out on the open market and looking for a backup QB with two recent cuff surgeries who can't throw the ball any further than 20 yards and who, in his prime, really never had any zip on the ball to speak of anyway. Then ask yourself, what do I want to pay for this guy? That's the correct way to make this business decision and leave all the emotion out of it. Given that scenario, if you even wanted this guy taking up room on the bench, you'd want to pay him $300,000 on a one-year contract and tell him if his arm doesn't heal up fast, he's gone the following year.
If your employer paid you an upfront bonus for the work you were going to do for him for the next 5 years and after 1 year you couldn't do the work any more and you get to keep all of the upfront bonus don't you think you might be willing to back up someone for a year or two at a reduced salary that still puts you in the top 1/4 % of all salaried employees in the country while you get back to speed?
Its a risk you take though. I mean, like with the stock, it was bought at high prices assuming that it would go up. it didn't, like chad didn't. However, now that its down, you can't go and recoup the 100+ more that was spent on the stock than its worth now. However, if the company was willing to give you $50 per share just for having faith in the company, you'd take that in a heartbeat rather than just sell the shares and take a los of 105/share, right? You have to give him a shot this year, imo, at a reduced price of like 4million. Worst case scenario is you get a cap hit at the end of hte year when he's cut no worse than what it would be now. Best case(and longshot) is he returns to the QB that he was.
The problem is, he isn't being told that he'l lbe backing up for a year or two, and then making money again. The Jets are saying "You didn't work out, so work for nothing(in comparitive terms" or go home and be unemployed. And I'm saying for him to take a reduced salary. However, I wouldn't cut off ~90% of what I was making.
$4-$5 million IS a bad price for a BACKUP QUARTERBACK. Plus, he made off with all the bonus money anyway. He is WORSE than some backup quarterbacks now...why should the Jets pay him 5 times as much as one?
Who, may I ask you, is going to be the starting QB for the Jets if they cut Chad Pennington? Brooks Bollinger? Cause it sure doesn't look like they can afford a top five QB pick in the draft, seeing as they're already over the cap. Restructuring Chad is the best they can do. Edit: I suppose you think the Chargers should cut Drew Brees as well. After all, with his injury, he's "worse than some backup quarterbacks" this year as well.
You don't even know if he can pass another teams physical. He may be being offered 1 or 2 million more than he can make anywhere else. You also are speculating that we have no options. There is no way in the world even if we sign Chad that the team can go into next year as thinking Chad is our starting QB. He hasn't even thrown yet. The team can only sign Chad and give him real money to reduce the cap. They can't depend on him to start they can't even depend on him to be a back up. Even signing Chad may mean we need to carry 3 QB's on the roster besides Chad. Offering to pay him 1Million real dollars that come out of an operating budget for a guy that can't be counted on to be on the field isn't nothing. If it were me I would rather have the 12 million on the cap and the $1 million in my pocket.
I think you're seeing this thing from Pennington's perspective only and not from the Jets perspective at all. This is the problem I have with your assessment of the situation. It's okay if you want to only look at it this way, the trouble is, it's just not reality. Reality is, Pennington is about as useful to us as tits on a bull (and I'm not making fun of your Avatar). Signing him for more than $300,000 makes as much sense as signing a RB who just had hip replacement surgery, twice. In my estimation, Chad's not worth squat to us and if it weren't for the fact that we need the Cap room and need to restructure his ass, I'd tell him to kiss off. He made $22 million to appear in 18 games for us, that ought to be more than enough in emotional reparations.
You've got it just right. If we keep Pennington, we're not going to go into full scale rebuilding mode. There are two very different paths we can take and it will depend on what happens with Pennington.
I'm not sure that's true. You can't build a team in 1 off season anyway. If we can reduce the cap for the next two years and than unload him it may allow us to bring in a couple of additional players this year and next that we might not other wise have been able to get. 2 to 4 good players make a huge difference on a successful rebuild. My gut tells me we should have gotten rid of him, Curtis, Mawae right now but if we can spread it over a couple of years without pushing a stupid amount of dead money passed 08 this might work out. I'm sure some of the cap guys can weigh in on this.
Why couldn't we cut his salary to say 4-5 million and then cut him after that. Wouldn't the cap hit then be the 4-5 mil instead of the 12 mil??
My feeling is that, if we're in full rebuilding mode, we try to bring in a young QB this season. Can we afford to do that with Pennington on the roster? Can't say that I'd get rid of Curtis and Mawae. Curtis has been a real team guy and he could be an important leader for the young fellas. I feel the same way about Mawae.
This is the way I see it also, but I'm not the Capologist many on this board are either. I think the rebuild scenario is enhanced by the restructures as opposed to just flat-out cutting Penny. Tannenbaum and Mangini are no dopes. It's probably better to pay Chad $3 million to wave towels than it is to cut his ass. Chad's smart enough to know this too. It just burns my ass when I read that Chad's whining about being paid less than a backup. He can't even toss a spitball right now and he's complaining about the $1 million offer with incentives. If it weren't for the Cap space I'd give him a package of free bath towels and send him packing.
That article hinted that it may be $4-5M in BASE SALARY. This better not be the case, unless he is giving up his other $6M in bonus money.
Condon is supposedly "seeking a base salary or guaranteed money of between $4 million and $5 million with the opportunity to earn the rest in incentives." Can anyone in their right mind tell me why the NY Jets should GUARANTEE Pennington $4-5 million? And forget about the "opportunity" to earn the rest in incentives, even Condon knows that's a joke. There will be no incentive money because Chad is toast and everyone knows it. This is legal bribery. "We know Chad is worthless to you but we also know you need Cap room, so here's the deal... you're going to pay him off." I do think it's a good sign that Condon has already conceded to the restructure. And having done that, he's already publicly dropped his request to $4-5 million, or half. It's kinda like running into a hooker and establishing the fact that she'll have sex for money. Now it's only a matter of how much. I'd say Pennington winds up with about $3 million in guaranteed money and the rest in (guffaw, guffaw, snicker, chuckle) "opportunity" to pick up (ha-ha-ha-ha-ha) "incentives" (side-splitting laughter heard in the background).
