Today is June 1, and that means that teams who designated players as June 1 cuts will realize a bump in their working salary space tomorrow.
In the Giants’ case, they designated C David Baas as a Post-June 1 designee. His 2014 salary was scheduled to be $8.225 million.
As per spotrac.com: On June 2, all Post-June 1 Designations are properly allocated in this manner:
- Any bonus money allocated to the current year (2014) + any guaranteed salary throughout the remainder of the contract turns into 2014 dead money.
- Any bonus money allocated to the remaining years of the deal (2015+) are accelerated into 2015 dead money. In the case of Baas this means $3,225,000 and a cap savings of $5 million.
June 1 is also the end of the period where free agent signings will be configured into next year’s compensatory draft loss-gain equation. The Giants are almost certain to be shut out next year after going on a shopping spree this March, so this doesn’t really effect them one way of another.
In the case of players such as TE Jermichael Finley, teams concerned about upsetting their loss-gain balance by signing him can worry no more. From Rotoworld:
NFL teams can sign free agents without it working against them in the compensatory draft-pick process beginning today.
It’s June 1, in case you hadn’t checked your calendar. Compensatory picks are awarded based on a loss-gain formula in free agency. The biggest obstacle for Jermichael Finley (neck) to get signed is inarguably his health, but it’s possible teams will be more willing to entertain adding him now that he won’t cost them a chance at a 2015 compensatory pick. Dustin Keller is also available.