The Facts:
With the Panthers and Smith
on a collision course, here’s an important fact to keep in mind: If they cut him, they’ll owe him up to $3 million.
Reported by Profootballtalk.com
Fantasy Football Diehards Line:
A league source tells PFT's Mike Florio that $3 million of Smith’s 2014 base salary of $4 million is fully guaranteed. The guarantee voids only if a $3 million option bonus is exercised in June. And if the option bonus isn’t exercised, the team owes Smith a $3 million non-exercise fee on July 1. It adds up to a total obligation in cap and cap space of $7 million for 2014. The Panthers can avoid $4 million of it by cutting him before July 1. But they’ll still owe $3 million in guaranteed base salary. Florio went on to explain that if the contract has offset language for the guaranteed money, the Panthers would get a credit if he plays elsewhere in 2014. Unless a new team will pay him more than $3 million, he’ll get a total of $3 million, with the Panthers picking up the difference between the guaranteed salary and what another team pays. At this point, that doesn't seem to be as much of an issue as moving on is.
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