ratoppenheimer -> RE: General Vikes Talk (7/28/2020 4:14:38 PM)
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quote:
ORIGINAL: David Levine quote:
ORIGINAL: thebigo quote:
ORIGINAL: David Levine According to Chris Tomasson of the Pioneer Press, Pierce cited his asthma and a recent bout with pneumonia as reasons for opting out of the 2020 season. Pierce had signed a three-year, $27 million contract this offseason after playing the first four years of his career with the Baltimore Ravens. quote:
NFL Rule: To be designated a voluntary opt-out, a player must be under contract or subject to a tender. The player’s contract will toll and all provisions of that contract for the tolled year will be applicable the following season; however, he will not receive an accrued season. The player will be eligible for a stipend of $150,000 to be treated as a salary advance against his tolled contract; an undrafted free agent, however, is not eligible for the stipend. The opt outs are irrevocable, so now that Pierce has declared that he is opting out of the season, he is not eligible to come back at all this year. From a contract standpoint, Pierce’s contract appears to now start with the 2021 season, meaning that he will be signed with the Vikings through the 2023 season. According to that list of opt-outs, Pierce is a "higher-risk opt-out". A higher-risk opt-out will receive an accrued season toward free agency and all benefits and minimum salary credit for a credited season and is also eligible for a stipend of $350,000, which will not constitute a salary advance. Basically he can get the stipend this year, but he's past the point that accruing seasons matter. We'll still have him at the contract he signed for the following 3 seasons. looking at spotrac; pierce's cap hit this year was designed to be $5m - we are now having to pick up only the prorated signing bonus part which is $2m...the contract is pushed off one season, but the final year does not have a signing bonus added into the cap number any longer because we're being charged for it this season.... i'm not implying that i can reconcile this with the language of the cba, or that i understand it, but this is what spotrac is indicating....
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