Locked On Patriots - Daily Podcast On The New England Patriots - Cap and the Camp: New England Patriots Finances with Pats Cap - 7/31/2020

Episode Date: July 31, 2020

As a result of the latest roster transactions and opt-outs, the New England Patriots currently have just north of $25 million dollars in available salary cap space. Joining host Mike D’Abate is Miguel “Pats Cap” Benzan to walk us through the events of the past week and how these transactions (particularly those players that opted out of the 2020 season) impact New England’s 2020 financial portfolio, as well as looking ahead to 2021. Finally, in a segment that is unique to Locked On Patriots, Miguel will ‘Set the Record Straight’ regarding some erroneous cap reports when it comes to the impact of these opt-outs on the Patriots’ salary cap. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Patriots fans, you are now locked in to the Locked On Patriots Podcast. I'm going to show you how to make a beautiful and beautiful flower. I'm going to use a small flower pot. I'm going to use a small pot Hello to all of you Foxborough faithful. It is once again Finance Friday here on the Lockdown Patriots Podcast, your daily home for news notes and analysis infused with the occasional opinion on your six-time Super Bowl champions, the New England Patriots.

Today's episode is brought to you by rockauto.com. Amazing selection, reliably low prices, all the parts your car will ever need. Visit rockauto.com and tell them Locked On sent you. Patriots Nation, the weekend is within striking distance. It is Friday, July 31st, the final day of the seventh month of 2020. And not only is August arriving tomorrow, folks, but your new possible QB1 arrived in Foxborough today. And I thank you all for joining me on this weekend episode of Lockdown Patriots.

My name is Mike DeBate, your host of the Lockdown Patriots podcast, which of course is a proud part of the Locked On Podcast Network. Your team every day. And folks, your team every day means your questions, comments, and feedback always welcomed, greatly appreciated. Feel free to share that feedback anytime by reaching out to me and following me on Twitter at M-D-A-B-A-T-E-F-P-C. And while you're out there giving the weekend nod and saying how you doing to the Twitterverse, please be sure to follow the Lockdown Patriots account as well at LO underscore Patriots.

And Pats fans, there is an action-packed agenda on today's pod. You heard me reference it earlier as Finance Friday, and if you use your intuition, I'm pretty sure you know what that means. But today is also the day that several players, including quarterbacks and veterans, will start to report to Gillette Stadium. And as I said earlier, one of them is pretty high profile. According to his Instagram and Twitter pages, Cam Newton arrived at Gillette Stadium a little after 9 a.m. Eastern this morning. And most likely Cam is in town to complete COVID-19 testing. And at this point, folks, we don't expect a whole lot of fanfare surrounding it. Cam isn't scheduled to speak with the media until next week.

And of course, as we know, on-field practices are scheduled to begin on August 12th. So get excited, Patriots fans. The Cam Newton era has begun, and he has arrived in Foxborough, Massachusetts. And even though we won't be hearing from him today, we will be hearing from a very important member of the New England Patriots. As I like to say, the man who pulls the strings. Bill Belichick will meet with the media this afternoon at 3.30 p.m. Eastern Time, and it's the first time that the media has had a chance to speak with Bill since the NFL draft. And even though that virtual Zoom press conference will take place after the recording of this

podcast, keep a sharp eye on my Twitter feed and the Twitter feed of the Locked On Patriots account, as we will bring you the highlights of Coach's Zoom conference and also continue to bring you the very latest in the roster comings and goings for your New England Patriots. And although Thursday did not see any roster goings, folks, we did see a reunion of sorts. And that came in the form of a Thursday afternoon report by Graham Couch of the Lansing State Journal. And Couch reported that undrafted rookie free agent quarterback Brian Lewerke was being brought back to Foxborough.

The move was made official by the Patriots on Thursday evening, and the 23-year-old will therefore fill one of the five roster spots that the team had open after the opt-outs that happened earlier this week. Now, this may come as a surprise to some. I'll admit I was a little bit surprised by this as well. I believed that the Patriots were going to bring back an undrafted rookie free agent quarterback. I thought it would have been Jamar Smith. But Lewerke's return does add another layer of depth to a quarterback room that also consists

of Cam Newton, Jarrett Stidham, and Brian Hoyer. Now, we all know, especially this year, that undrafted rookie free agents are going to have a difficult time cracking the Patriots' main roster this year. This may have been done more as a practice squad move than anything else. But look, Lewerke does have some experience as a starting quarterback, and for a pretty big-time collegiate program at Michigan State. He started 31 of 41 games he appeared during his four non-redshirt years for the Spartans, ended his college career as the school's all-time leader in offense with a combined 9,548 yards,

8,293 of those were from passing, and 1,255 from rushing. So he can use his legs a little, folks. To begin the week, Mark Schofield and I talked a little bit about the Patriots' undrafted rookie free agents, and he has a great piece out on Pat's Pulpit right now detailing why the Patriots may still have lingering interest in Lewerke. I highly recommend you checking it out. It's a great piece. Mark always does quality work, and the insight he's able to provide on quarterbacks really focuses second to none.

So Lewerke now becomes the second undrafted rookie free agent that the Patriots have brought back after last week's roster casualties. You'll recall that over the course of last weekend, the Patriots cut 10 players to move their roster from 90 down to the required 80. After news of the opt-outs hit between Monday evening and Tuesday morning, the Patriots opened up a few roster spots, and they chose to fill one of those with Lewerke, and the other a couple of days ago with rookie wide receiver Will Hastings out of Auburn. So the Pats now have 76 of their 80 roster spots filled. Four spots still remain. Exactly how they fill those four spots is going to be anyone's guess. There is still a slight chance you may see other players opt out,

even though by most accounts the Patriots are indicating indicating that the opt outs have come to a close, but the weekend's COVID-19 testing could throw a wrench into those plans. So keep a sharp eye on the Patriots transaction wire over the weekend, particularly keep an eye out for those that might be posted as having COVID-19 slash IR. As of the recording of this podcast today, the Patriots have not yielded any positive tests, which is great news. And we certainly all hope that continues. Because this week coming up starts the strength and conditioning phase of NFL training camp for your New England Patriots.

But the makeup of the roster still remains a question mark, folks. Currently, the Patriots still have four roster spots open. They also, thanks to the opt-outs, now have a little over $25 million in cap space to work with. Yeah, that's a considerable jump from just a week ago. But exactly how did they acquire all that space? And how will they choose to invest it? Well, folks, when we need the definitive answers to these questions, we go to the salary cap guru himself, the top gun, my good friend Miguel Benzon.

And to help close out the week in style here on Locked On Patriots, Miguel will join me on today's hot seat, and he will walk us through exactly how the Patriots amassed nearly $25 million in cap space in just a week's time. He'll give us some insight on how that will affect the Patriots not only in 2020, but also looking ahead to 2021. And of course, in a segment that is unique to Locked On Patriots, Miguel will set the record straight on the numerous cat myths that are circulating throughout social media,

and he might even drop a pearl of wisdom or two that you will only hear right here on the airwaves of Locked On Patriots. So folks, settle in, sit tight, and do not miss a second of the wisdom and counsel of my good friend the Pats Cat, Miguel Benzon, when the Locked On Patriots podcast continues in just a moment. But first, folks, our remaining summer weekends are starting to get few and far between. I know, I'm not rushing time away, but the calendar doesn't lie. And even though summer fun in the sun takes on a little bit of a different meaning this year

than it has in years past, you still want to get out and enjoy the beautiful weather. And perhaps this year more than others, it's never felt so good to get behind the wheel and drive your vehicle. But you always want to make sure that it's looking and running at its absolute best. I certainly do. And to help me keep my ride looking and running as best it possibly can are my good friends at rockauto.com. I choose rockauto.com any day of the week and twice on Sunday.

Why, you may ask? Well, why would you choose to spend 30%, 50%, even 100% more for the exact same auto parts that you usually find at chain stores or new car dealerships? Those chain stores have different price tiers for professional mechanics and do-it-yourselfers like me. But RockAuto.com's prices are the same for everybody, and they're reliably low. In fact, Rockauto.com always offers the lowest possible prices. With an extensive inventory open for everybody, does not require a membership or account login. rockauto.com is a family business serving auto parts customers online for nearly 20 years. So go to rockauto.com and shop for the auto and body parts from hundreds of manufacturers.

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Go to rockauto.com right now and see all the parts available for your car or truck. Make sure to put Locked On in their How Did You Hear About Us box so they know we sent you. Amazing selection, reliably low prices, all the parts your car will ever need. Rockauto.com. Patriots fans, the week that brought us opt out of Palooza is drawing to a close, but that doesn't mean there's not still fallout, especially when it comes to the Patriots bottom line. It's time to talk business, New England Patriots business. And when we need the definitive word on anything and everything related to the

Patriots salary cap, we seek the wisdom and counsel of the great and powerful Wizard of Benz on, you know, him as Pat's cap. He is my good friend, Miguel Benz on. And it's always my honor to bring his wisdom and counsel back to the podcast today. Welcome back todown Patriots, Miguel. Thank you so much for joining me, buddy. Anytime. How can I refuse to be on this show when I get such compliments? You just won us by ego. That's an awful you can't refuse.

I never told you this. I love the new music. The new intro music. I love it. I never told you that. I forgot to tell you that. Thank you, buddy. I love the new music the new intro music i love it i never told you that i forgot to tell you that i feel like thank you buddy i love the new view okay i appreciate that that's uh yeah hand selected and i'm glad that you love it uh yeah i've gotten some good feedback on it so great stuff miguel i use the term best in the business to describe you each and every time we share the microphone here folks it's never an exaggeration Whenever I have any questions on the salary cap, you're always my first source. You're the only source I need, and you're always there for the handoff anytime I need you. So thank you from the bottom of my heart, my friend.

And let's get down to it. According to your calculations, again, folks, these are the most trusted calculations in the business. The Patriots currently have, according to your number right now as I look at it, $25,045,302 in available cap space. Now, per your tweet on Thursday, that's presuming that Brian Lewerke, newly re-signed Brian Lewerke, will sign a deal for the minimum salary. And if he does, doing so will not change your salary cap number. But this is a significant bump in cap space since we last spoke here on the pod, my friend. Based on the opt-outs and also the roster comings and goings of some undrafted free agents and some practice squatters from last year. So as I always like to do when you arrive here on the pod, buddy, please, for the benefit of our listeners, walk us through the events of the past week, how these transactions, particularly those that opted out of the 2020 season, what does it all mean for not only 2020, but also project as to what this might

mean for the Patriots in 2021 as well. Floor is yours, buddy. Go ahead. Have at it. Okay. I'm going to just focus. Let's decide on the world of 2020. All right.

So the first thing that happened since we last talked was they let go of about 10 guys, all right? So what happened? Most of them were undrafted free agents who got guaranteed salary, all right? The players who were not claimed on waivers, one was. That was the linebacker, Tizino. His guaranteed salary went to the Panthers because they claimed on waivers. The other guys, all guaranteed money, then hit the 2000 cap. Now the Patriots have dead money on their cap for these guys on 2020 and two years of signing proration on their cap for 2021.

Interesting. Okay. So the question becomes, they re-sign Will Hastings. is assigning peration on their cap for 2021. Interesting. The big question I've been getting is like, okay, so the question becomes they re-sign Will Hastings. They re-sign Brian Lewerke. What does it happen to their dead money? Nothing. That's a new deal.

It doesn't get added back into their new contract. It's a new deal. So Will Hastings, Brian Lewerke will show up twice on my Excel workbook. One on the dead money section and one on the active roster section. All right? There's nothing they can do. That's the way it is. And if they were to cut Brian Lewerke, and I'll say the reason I'm confident that Brian Lewerke and Will Hastings signed for minimum salary deals,

I've never seen the Patriots cut a player who's an undrafted free agent and then give him a signing bonus the next time they re-sign him. Never seen it. Don't think it's going to happen this year. All right. I could be wrong. And I'll be the first to admit I'm wrong. All right. My wife will tell you, I don't like being wrong, but I will limit to my wife and to you that I'm wrong. Okay. I'm in a weak company, I guess. That's good. Yeah, yeah, yeah, yeah. So that guaranteed salary was about $191,000. All right?

That's dead money. All right? That's nothing in the scheme of things. All right? So then these guys started opting out. And I was like, wow. All right? Five out of six count against the cap now, okay?

Najee Torin, he doesn't count against the cap. And reason why? Because he was on the practice squad last year. In order to qualify for the opt-out or whatever you want on a salary event, you had to have accredited season in 2019. Being on the practice squad last year doesn't get you accredited season. All right? So, folks, like Malik Gant, who was cut, right, if he wanted to opt out,

he wouldn't get the $150,000 because he didn't have accredited season. Okay? Like these undrafted free agents like Jeff Thomas Bill Murray okay they can't if they opt out they won't get any money all right so there's two analysis now we'll talk about the levels there's two levels of opt-outs you can sit at high risk or voluntary high risk means you have a pre-existing condition all right and? And I'll say this. The NFL had to eliminate BMI

as an existing pre-existing condition. Otherwise, everybody in the NFL would have qualified. All right? All right? Because, you know what I'm saying? So, Marcus Cannon, Brandon Bolden, as far as I know, I know Marcus Cannon did. I've heard that Brandon Bolden also qualified for the high risk. What does that mean? They're going to get $350,000 sometime this year, all right, and it doesn't as a stipend. They don't have to pay it back.

It doesn't come because next year's cap. It's just, okay, so that's for those two guys. The other four, I'm talking Patrick Chung, Dante Hightower, Brendan Bolden, no, not Brendan Bolden, Denny Vitale, and Najee Torrance. They're considered voluntary opt-outs. Najee Torrance won't get the $150,000, okay, because he doesn't have accredited season.

Patrick Chung, Dante Hightower, Denny Vitale will. What I am hearing and folks, when we're doing this podcast on Thursday at 4.38 p.m., the NFL and NFL as of now as I'm speaking haven't come to agreement.

But what I've heard from what was sent out to the The NFL and NFB, as of now, as I'm speaking, haven't come to agreement. Okay? But what I've heard from what was sent out to the agents last week is that this $150,000, I thought it was going to be counted against the cap against the player. All right? Now I'm hearing that it's going to be treated like a non-likely-to-be-earned incentive. So this $150,000 is not going to show up on this year's cap, but it will be deducted from next year's cap. All right?

Oh, wow. Okay. Yeah. So we're going to talk about 2021 later, okay? But imagine – so now, remember everybody's talking about how much cash space they have in 2021 okay folks listen to this subtract out that number whatever cash space you number track subtract $450,000 from it because you got to account for Patrick Chung account for Dante Hightower and Kentucky Danny Danny Danny Vitale that 150 so subtract that out all right and you know subtract that amount out all right so but kind of a wash i'll say this is kind of a wash because their salaries have gone down by for next year by 150 000 all right so it's kind of a wash but it it it in the end but it might be

a wash so so the total, these right now, these five guys, right? Now Patrick Chung, Marcus Cannon, Dante Hightower, Brandon Bolden, Danny Vitale. They now count against the cap for $9.2 million, Mike. All right? Wow. Yeah.

So even though they created over $17.7 million in cap space, but those guys still count $9.2 million in cap. That's 4.5% of their cap. So imagine one out of 20 cap dollars is spent on guys who opted out. Wow. All right? Yeah.

That's a lot of money. All right? It is. Yeah, so those guys were counting, before they opted out, they were counting $21.3 million in the cap. Oh, Miguel, you said they saved 17.7. Well, let's remember, folks, we're in the top 51 season, rule of season, right? So five Sean Bauer how's a for hold JC

Jackson Byron cohort Corey Cunningham before these guys those opt-outs those salaries weren't counting against the cap all right those fights the total amount for those five salaries was three point three five million dollars subtract out the twenty one point two or you talked about earlier from the 17.7 and that's the 3.53 or you actually but we won't be accurate to say subtract the 3.5 from the 21.2 to get the 17.7 okay that's what would happen to the cap i'm i was blown away by how many people opted out. I'll say this, Mike. I was disappointed.

I don't – I can't believe people think, oh, my God, everybody's opting out from the Patriots. They just happen to be the first team. Everybody – the deadline hasn't even been set yet, all right? So it's going to be other teams who's going to have players opt out. All right? So they have six. Patriots have six.

At the end of the day, the Patriots probably will have the same average amount of players opting out. It might be six for every team. So it's not a big deal. It just happens to be the Patriots were first. All right? Same way the Patriots were the first team to sign all their draft picks. You know what I'm saying?

Maybe people made a big deal about it. It really isn all their draft picks. You know what I'm saying? Maybe people made a big deal about it. It really isn't a big deal. You know what I'm saying? But if the league average is six and the Patriots are six, what's the big deal? I happen to, you know, it's like we keep on hearing more and more players are opting out. So I'm confident that, like, the Patriots' average is six.

It's not going to be that much higher than the league average. You know what I'm saying? That number, that $9.2 million number, it might be on the high side for the league, but I don't know that. We don't know that yet. We really don't know who's going to opt out. And the longer it's for those two sides to make a deal and the longer that the pandemic keeps on going,

we're not getting this under control, the more I would think the more players opt out. You know what I'm saying? I really think that some of the – I think the last day, you know, like Andrew Brand always says, deadline matters. I think on that last day, we're going to see several players opt out. You know what I'm saying? So I don't know – that's what I'm saying,'s what I'm gonna stop right there because and that's what

I'm okay no no because I you know I don't know about the anything else but I'll say this the 9.2 is high I don't I will find out if it's gonna be the league above the league average um so what's the other thing people have been asking me about? Okay, the other thing is the, let's talk about the $350,000. They never have to pay it back. Why? The $150,000 is just a salary advance. So if you're on a bubble, some people are asking, like, if you're on the roster bubble, why don't you just take the $150,000?

All right, well, if you're on the roster bubble, why don't you just take the $150,000? All right, well, if you don't play this year, most likely, and you're in the bubble now, it's likely that you're not going to make the team next year. This is where you have to pay the $150,000 back. Well, Emily, if you can afford to pay back

$150,000 in 2021, good luck. I mean, like, really. But that's the thing. That's not money. That's not free money. You know what I'm saying? They have to pay that back.

So that's the... If I was a roster bubble guy, I'm staying on. Because this is my best chance, folks, to make the team. It was like literally those guys, from all those guys, we said Chung, Cannon, Hightower, Bolden, Vitalik. They was on your first 50-man projection. They all made the team. So now you're going to get your next one has to replace those five.

Yeah, without now your next one has to replace those five. Yeah, without question. Yeah, if I'm a Russell bubble guy, I'm staying on if I can. If I have a spot, I would definitely do it. I would definitely stay on, especially if you were a guy who was on the practice squad last year. You're not getting $150,000. You're an undrafted free agent last year, you're not getting $150,000. If you're an undrafted free agent this year, you're not getting $150,000. So you're not getting any money unless you have bad health or you're in a pre-existing condition.

I can understand that. Go ahead, leave. But if you're comfortable with staying, then I would stay. Folks, if you're listening to this and you're a football player, don't take my advice. Go your family get somebody else who gets some financial advisor on life but I wouldn't personally I can understand I couldn't sin I kind of see why a player roster bubble say would stay on it's like like because you don't get you're not guaranteed to make the team and you if

you don't make the team you have to pay back that hundred fifty thousand dollars next year. All right, so I think that addresses the 2020 thing, hopefully. Let's just move on to 2021. Okay, so what happened for 2021? So because these guys opted out, so Hightower, Bolden, Vitale, 2020 wasn't the last year of the deal. And Najee Torrent.

So now they're on the books for 2021. All right? And so Patrick Chung, his 2020 deal becomes the 2021 deal. And he was signed through 23. So now he's signed through 2024 all right so now all these guys all these guys who swapped it out it actually becomes easier for the pages to cut them next year for example they now like hightower's cap number this would be 7.85 million dollars all right if they don't like it they can just walk away i'd like i for example

courtney fallon put down from wei you know his cap number was taxing this year all right because he's 12 million dollars right but his cap number next year is gonna drop to 7.85 million dollars and but that's a relatively low for him all right he's i know's gold, but let's say now you get to the bases. Now you got him 7.85 million. Maybe you can work for the pay cut. Maybe extend his deal another year, even lower than ever further. All right? So it's like, I mean, that's what I'm saying.

So like even the same thing with Marcus Cannon. His cap number next year, $6 million. You cut him, and you would save over like $5 million, all right? And the thing because and here's the interesting thing, Mike, because these guys are not playing this year. Cannon, Bolden, Hightower all

have or had, excuse me, active roster bonuses. All right. Right. Next year's cap, they're counting against zero. They had Hightower and Cannon had incentives. They're counting against the cap 2 they're counting against zero. They had Hightower and Cannon had incentives. They're counting against the cap 2021 against zero

because they didn't earn them this year so they're considered not likely to be earned next year. So that's why their cap number next year is so much lower than it was in 2020. And that's such good information. It really is. I mean, when you take a look at what the

impact is on 2020, and I think you explained that perfectly. I also want to give you a personal thanks for setting the record straight with me on Najee Torin, because a lot of what was going on said that, oh, all these players are going to get it. You gave me the FYI right away as I was reporting this information that Torin, because it was a non-credited season, that it wasn't going to get it. You gave me the FYI right away as I was reporting this information that Torin, because it was a non-credited season, that it wasn't going to be the $150,000 earned there. So that was a big help to me, and I want to thank you for that. But the insight that you're giving on 2021 is so important, folks, as opposed to what their cat number is going to be in 2021. Whether the Patriots are going to want to invest this money in 2021 is really, really helpful.

I'm intrigued by it. And I didn't mean to step on your toes. Please continue, buddy, because I'm really enjoying it. I think I know our listeners are as well. Okay. So, Mike, back in February, right? I've been on this show several times this year, all right? If I've never once said what the cap space number was for 2021 because i was

never comfortable saying it because with the with the pandemic and everything i was never confident they was going to play 256 games in front of the full stadium all right i was never confident that number all right i never believed in the 215 million dollar cap number i never believed in the $215 million cap number. I never believed in it. So this year, now the thing that happened since last time, they agreed that next year's cap number was going to be $175 million. And I don't think there's any chance that it's going to be going higher than that. Between missing the four preseason games, missing all this revenue from the fans. I mean, they got to – and they really need to have as many games.

To get to the 175, they need to have the 256 games, all right? They have to cancel some games. I can't see them getting the 175, all right? So I'm working on the presumption that the league cap is going to be $175. How's $175 million? $175, How's $175 million? $175. That's funny. But so let's, folks, now let's talk about next year's cap space number. And I got to tell you, let's talk about league cap versus adjusted cap. All right?

And I'll have to say this. What is a league's adjusted cap number? Because cap space is the difference between a team's adjusted cap number and their total cap commitments. What's a team's adjusted cap number? Adjusted cap number. That's the league cap number plus what they roll over from the prior year plus any adjustments they may be.

For example, in incentives and everything. All right? So never, never, folks, they've never had the Patriots adjusted cap number has never been the league's cap number, all right? Because they have incentives on the deals. They have players not make the 46-man active roster. They have players making the honors. They've never had it. So,

the average, if the league cap is whatever it's been, the average difference for the Patriots has usually been around $5 million higher than when the league cap number. So, for me, I was saying, let's just say, I don't think that trend of the capping, I think it's going to be more this year.

All right? I think, like, I would have said before the opt-outs, and if you had asked me this in February and the spring, what do you think the Patriots adjusted cap number would be in 2021? I would have said it's going to be $5 million more, whatever the league cap number is. All right. Now I'm thinking it's going to be $10 to $15 million more. And the reason I'm saying that, Mike, because they're carrying that $25 million. All right. You get to carry over all

that cap space. And I know people ask me this on Twitter a lot, that $25 million they can carry 100%. There used to be a reason why teams would not carry over 100%. All right? There's no that reason went away with the new CBA. All right? All right? And some teams don't do it for whatever reasons. So whatever reasons, they just carry over a round amount for whatever

reason and they give up you know like the rams did that one year they just didn't carry all they just wanted a round amount like i think it was seven hundred thousand dollars whatever then instead of having seven hundred fifty thousand four hundred thirty eight dollars you don't think they just they want a round amount for whatever reason i have no idea why because folks they gotta excel you got to workbook. I don't know why I can't just carry over the whole thing. All right? So, no, I never understood them.

Like, Mike, I don't understand why the Saints and the Rams sometimes don't carry over 100%. I don't understand it, Mike. It baffles me. All right. So let's just work. Let's say that we know now. I'm going to say right now we've got $25 million in cap space. I doubt that I'm confident in that carrying over $25 million.

All right. In order for them to carry over to $25 million, and they might carry over to $25 million if they cancel the season during the middle of the season. All right. But actually, no, because the players' cap number will stay on. So, no, even if they cancel the season, generally, they would – hmm, okay.

The way I'm reading that – okay, so now I'm just thinking out loud. No, if they cancel the season, the cap number will stay the same. But the $25 million, I think they're going to use about $11 million of it to carry over $14 million. That's just a guess on my part. If I come on this show every week, I might change my number every week. As I

learn more and more things. No, because as I learn more and more things, I will change the number. For example, one of the things I might learn is how many players earn the active roster bonuses? You know what I'm saying? How likely is it for a player to earn an incentive? You know what I'm saying? That kind of thing, that would change my number. If they extend an Adam Butler, they extend a JC Jackson, or they trade for a player who has, you know, during the, before now in week one, if they traded for a player who has, you know, during the before now in week one,

if they traded for a player right before the deadline, those things might change my number. All right. Right now I'm going with $14 million. My gut says 14. For some reason, I'm going to stay with my gut. All right. So now, you know, so let's carry over 14.

My gut says that with the incentives adjustment, there's going to be a negative amount. Because I'm thinking that Cam's going to earn his incentives. All right? So, I'm saying negative two. So, that gets you around $187 million for an adjusted cap number. All right? Now I have the Patriots with a commitment around $130 million. All right?

Subtract the two, that's about $57 million. All right? Well, that's a lot of cap space. Well, folks, we haven't signed any free agents yet. We haven't signed, like, I haven't signed J.C. Jackson. If they tend to make a first-round tender, I'm just keeping round numbers, make it simple. $5 million to place the first-round tender on them, all right?

If you tag Cam Newton, all right, if he plays well, you'd probably tag him. Let's just use 25. That's $30 million. That 57 is just gone. We just lost. We just seen half of it go away. And, of course, this number is before any cuts, trades, inspections. But I'm saying, like, you haven't extended.

That 57 looks good, but you haven't accounted for Cam Newton if he plays well. You haven't accounted for J.C. Jackson being on the 2021 roster. You haven't accounted for Adam Butler. You still have some free agents on this team. Do you think you would want to have them on the 2021 team? It's great to have cap space, but I'd rather have the player than the cap space. Agreed. And again, folks, this is why Miguel was on that very short list of being the best of the best

on all things salary cap, the information he's provided on 2020, the information and the foresight he's been providing on 2021. And don't worry, folks. I said, I did say earlier, there you go. I'm not going to hold you to that $14 million. We'll be able to massage that number eventually. There's that laugh. We've got to love the laugh. But, no, all kidding aside, I mean, that's why I call him the Pat's Cap Top Gun.

He is the best of the best. But you know what, my friend? In a segment that is unique here to this podcast, I always look forward to you setting the record straight. And in just a moment, folks, I will give Miguel that platform he so richly deserves. We set the record straight next here on the Locked On Patriots podcast. Folks, again, Miguel Benzon, the Pats cap himself, joins me here on the Locked On Patriots podcast. Insight you can only find here on this pod. And Miguel,

you've outlined the Patriots cap flexibility, exactly what it means for the Patriots in the short term and what it might mean in the long term. And I know you still got some 2021 information to get out off your chest. So my favorite part of having you here on the pod is your ability to identify some of those erroneous cap reports out there. And in your infinite wisdom you either confirm them or you debunk them so without further ado my friend take us home set

the record straight when it comes to the impact of these opt-outs on the patriot salary cap floor is yours buddy okay okay let's first one every every player is eligible for 150 000 that's not true all right it really depends you had to be either had a, he had to have a credited season in 2019 or you're drafted in 2020. All right. So that's one thing. Second thing is that the $150,000 is a stipend. I would more call it considered a loan than a stipend. Third thing I would say about the opt-out thing is that the Patriots plan for this in the spring. I don't think so, folks. And that's just my opinion. It's not a fact. I don't think they would have planned for the pandemic.

I don't think anyone planned in the spring for the pandemic to be as bad as this in this fall. All right. I just can't imagine they would do that. All right. And I'm saying that as an optimistic person. And maybe if you're a pessimist, maybe you felt that way in the spring. I'm an optimist, so maybe I'm throwing some bias in there. All right.

The fourth thing, it has kind of, not kind of, but the one that set the structure, we can say, is this notion that the Patriots can't afford to pay Cam Newton next year if he plays well. All right. I'm sorry. I mean, I saw that by Tommy Curran, and I saw that piece, and I just shook my head. I'm like, literally, folks,

the quarterback is the most important position on the team. All right? You want, and if he plays at an above-average level, Cam Newton plays this year, why wouldn't you keep him on for the next several years? And let's just talk about the cap numbers. I could create the deal. I could create a deal.

I'm doing this as a hobby. I could give him $32 million. Cap hit next year is $22.5 million. That would make him have the 16th highest cap number of any quarterback right now for 2021 wow but so if the argument is you couldn't afford to pay cam newton what he as an above average quarterback my question then becomes for you how's the other 15 teams doing it that's my question And the second question I'll ask you is in 2018, the cap was $177 million. Aaron Rodgers signed an extension. Jimmy G

was signed to a free agent deal. Kirk Cousins was signed to a free agent deal. If those three teams could afford it, why can't the Patriots do it? Good point. Very good point. And I hate to say this, Tommy, but Tommy used the wrong numbers when he was putting out the things out there. He said he looked at Cousins' deal, excuse me, Ryan Tannehill's deal, and then used Ryan Tannehill's deal for the second year of his contract and said that would be the same number that would be in the first year of the contract.

Let's go apples to apples, oranges to oranges. Patriots, and I'll say this, why I'm saying that is because the Patriots always, and most of the time in the first year of a big deal, that first year cap number is low. Then it blows up in the next couple of years. You could do that. You do that with the Cam Newton's deal, 2022, it gets higher. So, like, for example, $31 million in 2022. That would be the sixth highest quarterback of the league, all right?

2023, this is my deal, all right? $36.5 million cap number. Fourth highest in 2023. 2024, $38 million. Second highest out of four quarterbacks. Not that many quarterbacks signed for 2024. All right? But in 2023, 2024, by this time, COVID's gone off the books.

You're starting to get the money from the 17-game season. Probably getting the money from the new TV deals. May get some money from the gambling. So that percentage of the cap he'll be taking is going to go smaller and smaller and smaller. As for the notion that the Patriots wouldn't make so much money on his own, I'm not saying the Cam Newton is Tom Brady.

But I'm just saying that, remember folks, in 2010 the Patriots made Tom Brady the highest paid quarterback in the league. And what happened the next year? They made it to the Super Bowl. So Jimmy G was paid. And what happened the next year? They made it to the Super Bowl. And I was like, you know what I'm saying? So Jimmy G was paid.

And now, folks, it's just I'm going to rant a little bit. I notion that you can't pay a quarterback, have him pay a high number, and then he will cripple your team is just wrong. I was like, yeah, it's just. For example, Jimmy G was once the highest paid quarterback in the league. Next, he made it to the Super Bowl. All right?

Matt Ryan was once the highest paid, and he lost in the Super Bowl. All right? 2011 Super Bowl, who did the quarterbacks win it? Eli and Tom Brady. The two quarterbacks with the highest cap who had the highest deals in the league. The notion that you can't

build around a quarterback with a high cap number is just wrong. All right, folks. The other thing I wanted to say, this is more like I wanted to say this and folks, I always want to come on the show and say something that I won't say on Twitter. All right?

The thing about Cam Newton, okay? Could they sign Cam Newton now? They get this app cast space. Can they sign him to a new deal now? Folks, they can't. And I'll tell you the reason they can't is because the rule about extending a player, you can extend a player within 12 months, but his cap number has to stay the same. Because Cam Newton's 2020 is so low that they cannot do a deal with him now.

Because they can't keep the cap number the same. Let me be simple. For folks, for old-time favorites, in Richard Seymour, way back in the day, they made this deal, and his cap number stayed the same. Tom Brady, remember when they did? Remember last year when we said, people are when they did, remember last year, remember they said, people are saying they can't do

his deal, they have to wait exactly 12 months. Well, he reached his deal with the Patriots before the 12 months was up. Why? Because cap number wasn't affected. Alright? It didn't increase. It went lower. You know what I'm saying? That's why it happens.

Right now, folks, I'm not going to say this on Twitter, all right? I'm not going to say this on Twitter because I couldn't think anything, Mike. I couldn't think anything about the opt-outs that I haven't said that's not out there on Twitter. But I'm confident that no one else is going to put this out there, all right, who's covering the page of the Boston sports media. They're going to put this out there, all right, who's covering the page of the Boston sports media. They're going to put this out there, all right, that they can't redo Cam Newton's deal because his cap number is too low,

all right? I don't think it's a big deal, all right? I don't think it's a big deal. I don't personally think that other people are saying, like, he would get mad because he's got all this cap space. It is what it is. I mean, like, really. He's made over $100 million.

I don't know how much he made. He's made close to $100 million. Why would you care? Yeah, it's true, and I'm so glad, folks. That is an exclusive here on Locked On Patriots, and I'm so glad that you brought that up, Miguel, because the notion that Cam is somehow less than enamored with the fact that he signed a below market deal and now all of a sudden the Patriots have cap space and maybe they could have

afforded it well Cam signed the deal to play here in New England he's motivated to prove his doubters wrong the motivating factor for a quarterback is when he feels that players or maybe even teams or coaches or whatever throughout the league has given up on him and they don't give him the respect that he deserves. He's here to earn that. He feels that New England is the best place for him to do it. He's playing under Bill Belichick. He's playing with a pretty good set of skill position players, folks. I know a lot of people want to malign the wide receivers that he's playing with, but I think this is a

good opportunity for him to be able to utilize these weapons and utilize them to his advantage. They still have a pretty formidable running game. The offensive line, I still think, is going to be able to give him time to do what he needs to do. So I look for Cam to have a big season, and he's going to parlay that into maybe a bigger deal down the line. It is comforting to know, my friend, that you've given us enough insight to know that the Patriots will be able to do a deal with him. But if anyone is wondering why they can't do a deal with him this year and increase his salary, it's because of the cap number.

It has to remain the same. Cam Newton knows that. He understands that. His agents have advised him of that. He's savvy enough to get it. So I don't think it's going to be a cause for any malcontent this year when it comes to Cam Newton. He's motivated and ready to play. Like, literally, the only difference in his salary, his salary is so low, right?

He's only got a roster bonus of $87,500 that Councilman Kent's got. Other than his salary is minimum, right? You're not going to give him a signing bonus that has a peration of $87,500. That's just an insult. Right. Because that's like for a five-year deal, that's $400,000, all right? Unless he agrees to do like maybe he does an option bonus where he gets $400,000 this year and $30 million or X amount of dollars option bonus next year. All right?

And not the phony option bonuses where you get, like, you're using it to get the concentration pick, but a real option bonus. Like, back in the day when I started doing the salary, covering the salary cap in, like, in a year or two, you know, when I used to do it with Brady and Seymour, those guys used to have real option bonuses. All right. That's the only way they could do it.

That's all I got. Okay. My friend, folks, the great Miguel Benzon never disappoints. And again, exclusives you'll only hear right here on the Locked On Patriots podcast. When his wisdom and counsel graces the airwaves, I could not be more honored and more humble to give you the platform again, that you show richly deserve my friend. Thank you so much for joining me today, folks. Follow Miguel at Pat's cap on Twitter. I call him the top gun. He is the top gun, the plaque for the alternates folks. I say this all the time. I'm never going

to get sick of saying it. That plaque for the alternates doesn't exist because he has no equal buddy what can i say stay safe stay well we look forward to having you back here on the pod very soon and thank you for bringing the masses all of the information we need when it comes to the patriot salary cap again folks he is the best follow you'll find anywhere on twitter whether it be patriots fans or n fandom in general. I've never known anyone to be more accurate or more meticulous about the information that he provides. If Miguel is putting it out there, he's vetted it. He knows it and he's confident in it. And that's why I can always take it to the bank. And it's not a hot take.

Absolutely. No. Okay. Like I say what I mean. I mean, when I say that, I'll tell you, I promise you that folks, like I say what I mean. I mean what I say. I'll tell you, I promise you that, folks. I mean, I'm doing it for the fans, and you deserve to be told the truth. I'm not telling you, I'm saying this because you guys, we as fans, I started doing this covering the fans' salary cap because I thought we weren't getting, fans weren't getting a good, the beat writers weren't doing a good enough job.

All right, that's the truth. I think you guys, weren't doing a good enough job. All right? That's the truth. I think you guys – we deserve – as fans, we deserve the best. All right? And so I'm trying to give you the best. I'm doing this as a hobby. You know what I'm saying? Hopefully, and I'll be able to announce something on August 7th. I'm trying to, like, basically – I'm trying to work with a charity to help someone buy a house.

All right. So like, you know, something that's, I hope to have that come true on August 7th. And, but I, you guys, I'm a fan. You're a fan. You guys, we deserve the best. Bottom line of the coverage. All right. I don't, I, when I started doing it.

I hear my friend, you are. And, you know, it cracks. I just think we just deserve the best. I'm not a hot taker. If you know me in real life, well, my friends will tell you that I'm a candid person, that I say what I mean. I mean what I say. I don't hold back. I mean, on Twitter, I try to be nice on Twitter because literally it's – I'm – there are strangers out there who have never heard of me before, all right? And my parents taught me it's more important – while it's nice to be important, it's more important to be nice.

I can't let my parents down, all right, on Twitter. I just can't do that, all right? So that's why I'm – I really can't. I really can't do that all right so that's why i'm you know but you know i really can't i really can't uh you know saying well trust me bud you do not let anyone down when it comes to that uh you always always give 110 whether it be here whether it be uh whatever you report or whether it be in life in general i consider it my greatest honor to call you a friend uh rather than just a colleague here, you know,

and being able to share the microphone with you on Locked On Patriots. And again, buddy, I always wish you stay safe, stay well to you and your family. And we look forward to having you back here on Locked On Patriots very soon. Thank you for joining me today and for closing out the week in style here on Locked On Patriots. This is exactly the way I hope to close out the week, and I could not be more thrilled to have you join me.

Thank you, my friend. Take care, everyone. Bye-bye. And so, Patriots fans, we put a lid on the week that was here on the Locked On Patriots podcast, and I once again thank my great guests this week, Mark Schofield, Thomas Murphy, Steve Balistrieri, and of course today, Miguel Benzon. Most of all, I want to thank all of you that took the time out to send in a question for yesterday's Twitter

Trends Thursday Mailbag episode. I've said it before and I'll say it again, I'm humbled by the company I keep in this business and that just doesn't include colleagues and great guests. That especially means you, all of the great listeners here at Locked On Patriots. Your continued support throughout this pandemic, even when news wasn't quite that abundant,

has been truly overwhelming for me. I appreciate it very much. But good news, folks. With the start of training camp firmly in our field of vision, there will truly be no shortage of Patriots coverage. So to ensure that you do not miss a single episode of Locked On Patriots, subscribe to us on Apple Podcasts, follow us on Spotify,

download us wherever you get your podcasts, and of course, don't forget, you can listen to Locked on Patriots right on your very own smart device. Just ask it to play the latest episode of Locked on Patriots. Once again, I'm Mike DeBate. I thank Miguel Benzon for his time, his insight, and his appearance on today's pod, but most of all, I thank you so much for listening and for staying locked into Locked On Patriots. Stay safe.

Stay well. Always be the change you wish to see in the world. Have a great weekend, everyone.