After trading a 2008 3rd round pick and cornerback Leigh Bodden for defensive tackle Shaun Rogers, the Cleveland Browns have now renegotiated his contract and awarded him a new 6-year $42 million deal that will keep him with the Browns until 2013 (or until they cut him). According to John Clayton of ESPN, the deal includes $20 million of guaranteed money, and is expected to pay out $23 million over the next 3 years.
The move is a risky one by the Browns, who in the past week have shelled out a combined $80 million for the next 6 year on two defensive tackles ($42 million for Rogers, and $38 million for Corey Williams). Rogers is one failed steroid/performance enhancing drug test away from a year long suspension, as he has already served a 4-game suspension in 2006 for a failed test, allegedly due to taking a banned appetite suppressant to help control his weight and an existing medical condition.
Showing posts with label corey williams. Show all posts
Showing posts with label corey williams. Show all posts
Wednesday, March 5, 2008
Friday, February 29, 2008
Pack Trade Franchised DT Corey Williams to Browns for 2008 2nd Rounder, Who Then Sign Him to 6-Year $38 Million Contract
Recently franchised defensive tackle Corey Williams is on the move, but the Green Bay Packers won't be receiving two 1st round draft picks as compensation. The Packers and Cleveland Browns have agreed to a deal that will send Williams to the Browns in exchange for the Browns' 2008 2nd round draft pick (#56 overall). Per Mike Florio of PFT, Williams has inked a new 6-year $38 million contract with Cleveland, including roughly $16.3 million in guaranteed money.
Wednesday, February 20, 2008
Packers Franchise DT Corey Williams, Cut TE Bubba Franks
Tom Silverstein of the Milwaukee Journal Sentinel reports that the Green Bay Packers have placed the non-exclusive franchise tag on defensive tackle Corey Williams, guaranteeing him a one year salary of $6.363 million for 2008. Williams made $850,000 last year in the final year of his rookie contract. A backup his first two years in the league, Williams has started 20 games and played in all 36 the last two years, averaging 34.5 tackles and 7.0 sacks a year, which is pretty good for an interior lineman rushing the passer.
In our look at potential targets for the franchise tag, we noted that the Packers didn't have anyone worth placing the tag on, and frankly we don't think it was worth it for Green Bay. They are rumored to be under the 2008 salary cap of $116 million by roughly $16-30 million, depending on who's estimates you go by, but that doesn't mean they should lock up $6+ million a year on Corey Williams. Is he one of the top 5 defensive tackles in football? Is he one of the top 10 defensive tackles in football? Is he even one of the top 5 defensive tackles in the NFC North? A number of teams have been flush with cap space last year and this year, but that doesn't mean that they should be fiscally irresponsible just because they can, as the cap always catches up with teams who spend unwisely.
Green Bay also cut former starting tight end Bubba Franks, who was due a roster bonus of $500,000 and a 2008 base salary of $3 million. Cutting Franks will result in a $1 million hit against the salary cap, due to the prorated amount of his original $5 million signing bonus from the contract he signed in 2005, so the Packers will have a net cap gain of $2.5 million ([$500K + $3 M] - $1 M). Franks lost his starting job to Donald Lee for good last year, and ironically was the last player the Packers used the franchise tag on, in 2005.
In our look at potential targets for the franchise tag, we noted that the Packers didn't have anyone worth placing the tag on, and frankly we don't think it was worth it for Green Bay. They are rumored to be under the 2008 salary cap of $116 million by roughly $16-30 million, depending on who's estimates you go by, but that doesn't mean they should lock up $6+ million a year on Corey Williams. Is he one of the top 5 defensive tackles in football? Is he one of the top 10 defensive tackles in football? Is he even one of the top 5 defensive tackles in the NFC North? A number of teams have been flush with cap space last year and this year, but that doesn't mean that they should be fiscally irresponsible just because they can, as the cap always catches up with teams who spend unwisely.
Green Bay also cut former starting tight end Bubba Franks, who was due a roster bonus of $500,000 and a 2008 base salary of $3 million. Cutting Franks will result in a $1 million hit against the salary cap, due to the prorated amount of his original $5 million signing bonus from the contract he signed in 2005, so the Packers will have a net cap gain of $2.5 million ([$500K + $3 M] - $1 M). Franks lost his starting job to Donald Lee for good last year, and ironically was the last player the Packers used the franchise tag on, in 2005.
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