Locked On Patriots - Daily Podcast On The New England Patriots - Fiscally Foxboro: PatsCap Talks New England Patriots Finances - 8/7/2020

Episode Date: August 7, 2020

The New England Patriots are flush with more than $35 million in available salary cap space. Joining host Mike D’Abate is Miguel ‘PatsCap’ Benzan to conduct his weekly session of ‘Foxboro Finance-101. The duo discuss the Patriots’ acquisition of more than $9 million in cap space via the NFL’s ruling on COVID-19 amendments and the possibility of a new deal for quarterback Cam Newton. Finally, Miguel sets the record straight on the various salary cap myths, which have circulated throughout the week. 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 All of you, Foxborough faithful. Class is now in session to close out the week here on the Lockdown Patriots podcast. And for the second straight week, your syllabus reads Foxborough Finance 101. And that can mean only one thing, folks.

We are about to absorb the wisdom and counsel of the man with the proverbial PhD in all things related to salary cap, the great and powerful Wizard of Benzahn himself. Our good friend, the Pat's Cat, Miguel Benzahn, joins me here on the pod today as the Patriots' bottom line continues to be the story of the week. All that additional cap space and where and how to spend it. Miguel has the answers and he will share them with all of you. And of course, with me, Mike Debate, your host of the Locked On Patriots podcast, which of course is a proud part of the Locked On Podcast Network, your team every day.

And folks, because it's your team every day, that means your questions, comments and feedback always welcomed and greatly appreciated. And folks, I always take under account your questions, comments, and feedback. Always welcomed and greatly appreciated. And folks, I always take under account your questions, comments, and feedback. In fact, because of the Twitter groundswell this week among you, the great listeners of Locked On Patriots, wanting a little extra credit class in Foxborough Finance this week, that's why we have Miguel back here for the second straight Friday. So feel free to share that feedback anytime by reaching out to me

and following me on Twitter at MDABATEFPC. And while you're out there saying, how you doing to the Twitterverse, please be sure to follow the Lockdown Patriots account as well at LO underscore Patriots. Pats fans, today's episode is proudly brought to you by our friends at 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. Folks, we finally made it. The weekend is upon us. And even though the action at Gillette Stadium right now in 2020 Patriots training camp

is mostly involved with strength and conditioning and maintaining overall health, there is still plenty to talk about when it comes to this roster. Mostly about the Patriots' financials. And with a little more than $35 million in cap space burning a hole in their pocket, many of you are wondering how they might invest it. And there's a lot of theories out there right now, not only about how the Patriots can invest it, but how they want to invest it. And anytime there's a lack of clarity or any type of conflicting reports out there,

I always go to the source of all knowledge. And for the second straight week, I am proud to welcome Miguel back to the hot seat here on a Financial Friday episode of Locked on Patriots. But this particular Friday, folks, wasn't just about finance in Foxborough. Early this morning, the New England media had a chance to meet with Bill Belichick, members of the Patriots coaching staff, and most importantly, the quarterbacks finally met the media. That includes Cam Newton.

But the media availability on Friday started media. That includes Cam Newton. But the media availability on Friday started off with Coach Belichick. And while it was a brief session, it did include its share of highlights. First and foremost, Coach confirmed that the first padded practice of 2020 training camp will be indeed August 17th. Now, the Patriots are expected to hit the practice fields next week on August 12th, but it appears that things will get going in earnest a week from this coming Monday. Bill also quelled some concerns about his health. He advised that he never considered opting out at any time, stating that he, quote, feels fine and feels good about the environment that we are in, meaning the Patriots. Bill was also asked a question about

training camp and about the differences between this year and last year. He acknowledged that there are a lot of them. Players and coaches are much more socially distant. They're more spread out at meetings. He did mention that there are no buffet lines, and that became a trending topic on Twitter, as did his speculation about the Patriots' plexiglass bill, stating that there's a ton of plexiglass all around Gillette Stadium. And he had no idea what the bill was, but he'd bet it would be high. Who knows, folks? Maybe we'll order up a special pod here on Locked On Patriots, have our good friend Miguel

the Pats cap, and we can break down all the financials of exactly how much money the Patriots are spending on plexiglass. I kid, folks. Unless you really want to hear it, and drop us a line, let us know. I'm sure we can work something out. But in any case, a busy morning in New England media continued on, with coaches such as Gerard Mayo, Steve Belichick, Josh McDaniels all taking their time to meet with the New England media. And then it was the time for the quarterbacks to arrive on the hot seat.

And first up was Brian Hoyer, and I can tell you, you will not find a classier guy anywhere, folks. Brian reiterated that he's very happy to be back in New England. He had mentioned that his family has bought a house here, and this is their home now. He's looking very much forward to playing with both Jarrett Stidham and Cam Newton, and he did acknowledge that it will be an adjustment without Tom Brady in the locker room, but the goal always remains the same. Strive to get better, and do everything you can to put a winning team on the field. Bryan still sounds pretty Patriot-like, and that's a good sign, folks. But you know who else sounded pretty Patriot-like? The next quarterback to meet with

the media on Friday, Cam Newton. For the first time since signing in New England, Cam Newton got a chance to meet the New England press. And in my humble opinion, folks, Cam said all the right things. He mentioned that he was blown away by the professionalism of the Patriots organization and so glad that the process came together as it did for him signing here. Bottom line, Cam sounds very motivated, not just to prove himself on the field this year, but he sounds pretty happy to be a New England Patriot. He kept reiterating the fact that he loves being here, that his goal is to win, and he He was asked about a potential quarterback competition, and I thought Cam answered that question with a lot of poise and a lot of class.

He basically said previous reputations or money doesn't matter. All that matters is how you perform on the field, and he mentioned the fact that he really has enjoyed getting a chance to work with guys like Stiddy, meaning Jarrett Stidham, and with Brian Hoyer as well. He did acknowledge that there were points during the offseason where he had considered the possibility that he might not even play in the NFL this year, not really because of the COVID-19 pandemic, but because of just not being signed. But he credited a great, quote, supporting cast around him that helped him remain positive

throughout it all, and he described his arrival in Foxborough as still being surreal. In fact, he compared it to pinching himself every day, but knowing that it will eventually sink in, that this is the norm. But the two most important things that were revealed in this media session, folks, is one, Cam Newton is definitely here to win. In fact, that's exactly what he said. My job is to come here to win, to become the best professional quarterback I possibly can be, Cam is motivated, folks. Anyone questioning that need not question it any longer. The other was Cam himself putting to rest any questions about his health. He was asked two pointed questions about his health.

And Cam basically had said that even though the season isn't here yet, working with the training staff and all of the outlets he has available here in New England has helped him to be in the best shape to put his body in the best possible football situation. Also when asked specifically about his throwing shoulder something I've had my doubts with all along as well folks Cam very bluntly answered with a smile sir at this particular time I'm full go. Music to the ears of Patriots Nation. But last but certainly not least, it was time for Stid the Kid to meet the media. Jarrett Stidham sat down in the hot seat,

and much like Cam Newton and Brian Hoyer before him, Stidham basically said all the right things. He acknowledged that for a lot of reasons, it's been a different offseason. Very unexpected. Of course, Tom Brady deciding to go to Tampa Bay, signing Cam Newton. He called it, quote, a wild ride. But Stidham Brady deciding to go to Tampa Bay, signing Cam Newton. He called it, quote, a wild ride. But Stidham is happy to be back in New England. His season prep

regimen hasn't changed all that much. He's still here to be the best quarterback he can be and to try to do everything he can to win. Stidham did praise his relationship with Tom Brady, saying that he considers Tom a good friend and that he's learned so much from him, how he prepares, how he leads his team every week. If named the starter, he wouldn't consider himself as a replacement for Tom Brady. He's simply just trying to be the best he can. And also, like Cam and Hoyer said before him, he's looking forward to the competition. He loves to compete.

So do Cam Newton and Brian Hoyer. And in this guy's opinion, folks, I think that's going to make for a very interesting training camp. Even with the loss of someone as iconic as Tom Brady, the Patriots have a well-stocked quarterback room, folks. As I've stated before, all things being equal, each of these guys playing at the top level they possibly can, I'm still putting my money on Cam Newton to win the job, but ultimately, it'll be up to Bill Belichick, Josh McDaniels, and the Patriots brass to make that final decision. But what will their supporting cast look like? Could they possibly use their newfound financial windfall to invest in some offensive weapons

or some defensive prowess? Folks, in order to spend it, you have to have it. And in just a moment, my good friend Miguel Benzon will take the hot seat as he conducts yet another session of Foxborough Finance 101 right here on the Locked On Patriots podcast. First, folks, the weekend is upon us. And after a long, hard work week, it's only natural to want to get out, clear your head, and enjoy the downtime.

Well, this summer in particular, it's not as easy to do that as it has been in years past. The one thing you can still do, take to the road in arguably your most prized possession, your vehicle. But to do that, you need to make sure that it's running and looking at its absolute best. As for me, I keep my vehicle in tip-top shape, and I do that with a little help from my friends over at rockauto.com. Folks, if you're a do-it-yourselfer like me when it comes to maintaining your automobile, why would you choose

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and the best part, the prices you prefer. Why would you spend up to twice as much for the same parts? Go to rockauto.com 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 finances of your New England Patriots continue to be the hot topic in and

around Foxborough. And when it comes to the Patriots bottom line, it's time to talk business. New England Patriots business. And we need the definitive word on any and all things Patriots bottom line, it's time to talk business. New England Patriots business. And we need the definitive word on any and all things Patriots salary cap. Today we seek the wisdom and counsel of the great and powerful Wizard of Benzahn. You know him as Pat's cat. He is my good friend, Miguel Benzahn. And it is my honor to bring his wisdom and counsel back to the podcast today. Welcome back to Lockdown Patriots, Miguel.

Thanks so much for joining me. Oh, my God. I love coming on on finance. I love being on the show. Just got to tell people I'm outside. You can have no power in my house. You might hear some of my neighbors' generators going. It would be an interesting podcast because I'm tired because one of my

neighbors decided to pop off fireworks at 1 o'clock in the morning, 2 o'clock in the morning, 3 o'clock in the morning. I promise you folks, like I said on Twitter, I set a record a couple of episodes ago with a personal unique insight to the podcast.

So records are made to be broken. I told Mike before we started the show, I got seven. Let's get that seven. I want to make sure I got the seven right in front of me. Make sure, Mike, I get the seven, okay? Absolutely. We will get you there, and you know what? We will give you the platform.

So without any further ado, let's kick it off. According to your calculations, again, folks, the most trusted numbers in the business, not just in sports media, really anywhere. I mean, I take Miguel's numbers to the bank any day of the week, twice on Sunday. The Patriots currently have thirty five million two hundred and eighty two thousand eight hundred and one dollars available in salary cap space. Now, Thursday afternoon's opt-out deadline has come and gone. No additional Patriots, my friend, opting out. So it appears there's no additional cap relief coming by that avenue anyway. But the number that I just quoted, that's over $9 million in addition to the number that you reported last week here on the pod. Right. In the interim, the management council of the NFL informed clubs that signing bonus proration, not just the unearned salary and bonuses, would be removed from the 2020 cap immediately upon notification that a player is opting out.

So if you could, my friend, please walk us through how the Patriots gained another approximately $9 million plus in cap space windfall this week and what it means for the Pats going forward. Okay, so let's just do it with Dante Hightower. Okay, so Dante Hightower is not a cap number. When he first opted out, and I'm going by precedent, any time a player had their contract told, which is happening with the eight guys opted out,

the contract was told into 2021, all right? Anytime it's happened in the past, the last assignment person stayed on the last year's cap. For example, Josh Boone. It happened with Sebastian Fulmer, all right? And so this year, they put in a rule that that agreement is opposed to cba it's specifically for the coven covert opt-outs all right and so so this says that that 2.5 million in signings and bonerations that I had on the PGC 2020 cap is now on the 2021 cap. So his cap number, right, is zero on the 2020 cap

and is over $12.5 million, $12-something million on the 2021 cap. And here's the really weird thing, and this is one of the first things, one of the unique things I'm going to say, one of the one things, it's like, Brandon King, he stayed on PUP

the entire year. His contract was told, but his signing bonus will not. So there's a chance that they're treating the same thing. They'll have a couple of players opt out, a couple of contracts were told,

Hightower and King, that the treatment of the signing bonus variation is different. That boggles my mind, okay? But I'll extend the question then to you, why do they do this? One is, I think they did it to, A, help protect the player from getting cut. All right? For example, for Patrick Chung, if they were to cut him, all right,

he has so much signing bonus preparation left that he would actually cost the Patriots cap space in 2021 if they cut him in the spring. So that's the second. I'll that again okay but that's not a unique thing I might not say that for a while I'm gonna say this is seven and a half unique thing okay all right so that's what's really weird about it and so the other thing I was talking to some other people, all right, about what might happen with the incentives and active roster boards like Hightower, Chunk, Cannon, Bolden, all those guys have, right? So I found out in the past, well, remember Le'Veon Bell? He sat out a year. Oh, of course.

All right? Okay. Well, in 2019, he still had, even though he sat out 2018, his 2019 top number included a $500,000 to be earned incentive because he had earned it in 2017. Now, I mean, so I am now going to say, they did that for Bell. This is how they're most likely

going to do the same thing for the guys like Chung, Hightower, Cannon, blah, blah, blah, blah, blah. Which would mean their cap number would be exactly the same as it was for 2020 before the Aftab. I said last time, I think last year, we did that incentives would be zero and after Ross

was all become unlikely to be fair incentives, right? I am waiting to find out how the NFLPA sends what the cap number is, but if they treat it like they do the lovely on Bell, all right, because I've been hit, you know what I'm saying? Then the cap number is exactly the same, all right, which means the hit you know saying it then it changed the cap numbers exactly the same all right which means the patient's co-cap limit cap commitment 2021 is higher than i had originally had on my on in my books like before i said that we were just using round numbers well i hope that said that he guys said that they had $135 million

in cap commitments. If the incentives in the Act of Roster Bones are now likely to be earned in 2021, we're using round numbers, I'm going to have $141 million in total cap commitments for the Patriots

instead of $135. That's a big difference. That's a big difference. That is. It's a big difference. Yeah. It's different. So let's go back to why they did that, right? To help protect the players and collect signing bonus.

The other thing is, the owners, it's always good, the owners want to just, let's just say, Hightower had acted out of the line. He did something that would cause him to lose out of the line, right? He did something that

would cause him to lose a signing bonus, right? Well, if his signing bonus

didn't totally over the next year, he'd lose something next year that would have caused him

to lose a signing bonus. The pitchers can't ask them for that money back,

right? They don't have the right to get off the money. So that's the way to. There's no signing bonus until they have the right to give up the money. So that's the way to protect the owners in that is for anybody who

has bad conduct. That's one reason I put it. There's two reasons. One, to protect the players so they have increased debt money. And I think to protect the owners so they have some ability to go after the player's signing bonus

if the player does something that would otherwise cause them to fall for that signing bonus. So hopefully that answers that question. No, I think it does. I think that's a great point. I think that in terms of allowing us to see exactly how that affects this year, how the proration works and what it means for players going into 2021 in terms of either being cut or the protection that's involved both for the player and also for ownership. Don't forget, both sides want to be able to profit a little bit. The owners definitely. So there's always that those measures put in place. So I think it was great insight.

And I appreciate you doing that to take off on that just a little bit. Okay. I'm not really putting you on the hot seat here though, my friend, I'm putting you on the seat, not the hot seat. I take your catchphrase to the next level.

And I love the catchphrase that you have, where you say you'd rather have the cap. You'd rather have the player than the cap space. A lot of what we're hearing when it comes to the patriots absolutely absolutely and i agree with you in a lot of respects but a lot of what we're hearing on the patriots right now is that the smart move for them is to sign one-year contracts this year simply because of the contracts that will toll to next year and the impact of the cap is still relatively unknown. Do you agree with that assessment

and do you expect the Patriots, if they do dip their feet into the free agency pool, that they will only do one-year contracts this year? Let's say, no, I don't. Let's say there's a player out there, let's say Snack Harrison, Tim Jernigan,

Delaney Walker, Demond Thompson, any of those guys that are out there, all right? And they say, yeah, I would love to save the Patriots, but I want a two-year deal, all right? I would do the two-year deal, all right? Why? The reason somebody asked me on Twitter a similar question, so let's try to give you the answer. And then why, especially ask people the one-year deal me ask you a similar question like this and try to give you the answer. Why

you specifically ask me about the one-year deal rather than a specific plan. Why would sign players to a one-year deal? How would it affect the 2021 cap? Right now the Patriots have $35 million in cap space. There's no chance.

We don't know what's going to happen in the rest of the year. But past experience has said if they do play 16 games, and I do want to talk about why people want to see the 16 games happen more than anybody else a little later today, is if they play

16 games, you want to have, let's say they'll probably use 15 million dollars in that cap space all right so you carry over 20 you sign a player whatever number of players is wrong for a cap number let's just let's just keep it round let's just use two million dollars all right if you sign a player for two million dollars that twenty million dollars you would have a carry

it's now 18 all right so you adjust your cap space for 2021 will be less by $2 million because you're carrying over $2 million less. He signed for a one-year deal. He's still not on the 2021 cap, but in effect that 2020 sign

will lower the 2021 cap space number by $2 million. Okay. I'm going to, okay, but I'm going to opinion if the polls says I want a two-year deal, you're looking for the fitness system, Mike. Sign him to a two-year deal and let's make it happen.

Alright? I understand. And the other thing, the other thing was like, roll over, carry over $35 million. That's not, only way I can't see the only way, I can't see that happening. I just can't see that happening. They would have to, like, extend Hightower, excuse me, extend, give him one, lower his cost number,

all those things for $35 million. I'll say this again, I'll probably say this every day for a while on Twitter, yes, they can carry over 100% of the unused cap space, 100%, no matter what. I don't know why people think there's a limit. There is not a limit. The Browns have three times have carried over $50 million in cap space. That's just crazy.

The other thing I wanted to say, I wish I had more power, but I wanted to have this number out there the Patriots have carried over I'm just doing it off the top of my head folks I apologize the spreadsheet I was using it off I can't have it active because I have no power on my home

so I'm just doing it off the top of my head I might have some of the numbers wrong the Patriots have over the nine years teams have been allowed to carry over cap space the Patriots have, over the nine years teams have been allowed to carry over cap space, the Patriots have averaged around four. I'm just around

because I forget the point. I forget the point. I'm not going to say the point. If I don't know it, I'm not going to say the point. I'm just going to say it's been over four. The league average has been over eight. The Patriots just over half of the league average has been over eight. The Patriots just over half of the league average.

Right? Yeah. So that's the second thing. That's the second or third thing I wanted to say. That's smooth. This could be this podcast, Mike. The Patriots have usually carried over somewhere between $4 million to $5 million. I wish I could remember the point, but I don't. So right now they have $35 million to cash.

They might double. I think their high was $11 million, or maybe $10 million. They're definitely going to set a record for themselves. I'll be shocked if we don't. Okay. So that's something. Hold on. I've got to turn on.

Unfortunately for me, I've got to talk to you on my phone. My laptop keeps on shutting off. I've got to keep on putting my password in. This doesn't happen at home. Okay. So let's talk about that. I had mentioned why the Patriots fans took on all 16 games they played. All right.

Right now the Patriots have won a league in the top state for $25 million. All right. But as one of my – but I will say this. One reason they have is because they to have one of the highest amounts of debt money. They actually have very little in cash spending this year. All right? All these guys are up and out. All right?

So imagine, like, imagine Gilmore. All right? Gilmore after week one he loses 16 weeks of salary alright you know what I'm saying he loses 16 weeks of salary

so you don't pay him and you also don't pay him all of his active roster bonuses but if you do that to every but because the Patriots don't have that much salary on their books they don't have that much salary on their books, they don't have that much active roster bonuses on their books as compared to other teams. All right? Those two amounts.

All right? Given other teams. They canceled the season after week one. Every team is going to get a credit on their cap for 2021 for that cap space that was supposed to be used in 2020. It wasn't. All right? So now the Patriots, instead of being near the top of the league in cap space in 2021, will be near the bottom because of that.

All right? So you want, Patriots fans, folks, you want to have all 17 weeks. Otherwise, if it's a short season, forget about the Patriots being one of the leaders in cap space.

They won't be. They'll be near the bottom. All right? That's one of those weeks. I want to save that for the podcast mike well i appreciate it i do appreciate that and again folks this is why miguel was on that very short list of being the best of the best in all things salary cap it's these pearls of wisdoms that he drops here and only here that not only do i appreciate but i know you all appreciate it too because it makes us more educated with the cap.

Thank you for enlightening me, especially when it comes to the one-year deals, the two-year deals. We hear so much about, oh, the Patriots should only go after one, or they should do a lot of different things. This allows us to see that the Patriots may have more flexibility than some people believe, and maybe even other teams in the league do as well. I don't want to say it's just unique to New England, but after all this is locked on patriots that's our central force here that's what we're looking at so in my opinion great stuff and and i appreciate it as as well next up here

folks on locked on patriots in a segment that is unique to this podcast miguel will address some of those salary cap myths floating around out there, including one that's a special request from me, and it'll set the record straight. Do not miss this, folks, next on the Locked Down Patriots podcast. Folks, again, Miguel Benzon, the Pats cap himself, joins me

here on the Locked Down Patriots podcast and insight that you can only find here, folks. Miguel, the Patriots have a good amount of flex, a good amount of cap flexibility, excuse me. Yeah, they got flexi, I guess, as well in Foxborough too. But heading into this season, you've broken down very eloquently

exactly what that means for the Patriots in the short term and what it might mean in the long term as well. But buddy, one of my favorite parts of having you join me 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. Now, I have a special request for you today. I rarely do this to you, but I actually do have a special request here.

A long-distance dedication, if you will. I was of the ilk that the Patriots would not be adjusting Cam Newton's contract this year because it would disrupt his cap number. But there is a narrative that is growing out there that the Patriots not only could, but are likely to do so. So without further ado, my friend, there's rumblings out there. There are some Twitter smatterings, believe me. Without further ado, buddy, take us home. Can the Pats rework Cam's contract for the year? Will they do it?

And, of course, are there any other salary cap myths or pearls of wisdom that you'd like to drop here today on the podcast? The floor is yours, my friend. Have at it. Okay, so let's talk about Cam Newton's deal with the Patriots. Kevin Thiel. Most of his salary and two 46 – I can't believe I just said it. 46. That's the folks that used to be.

Now it's just active roster ball. All right? So that's all that's done in this deal. Let's just say for some reason the Patriots wanted to redo the deal. It says in the CBA, all right's kind of legally language, that it takes you 12 months. You have to wait 12 months if you do a veteran's deal. But the first renegotiation of a veteran's deal can take place within 12 months. So you could do that. Maybe you could do that. but here's the problem

if you do it. You have to fit it in to an existing cap number. We talked about that last time. So that would be hard for the patrons to do that. What they could do is just do a wink-wink deal. Hey, Cam, we're comfortable today. Sign you to a new deal today. And what? There's not going to be any cap. There's no dead money on that

because he has no signing bonus preparation. They could do a wink-wink deal will they do it now that's a different question mike that's a different question i've been if you're saying what you're saying right now they have by doing it right now right you are on, you just made your bet on Ken Newton. And you just said to them, you just gave him, you just anointed him

to start today. You know what I'm saying? There's no competition. You just said, hey, Jefferson, you're the backup. You know what I'm saying? If they do it, you just said there's no competition. That's just lip service. Will they do it?

I don't think so. Ooh. I'm on the hot seat. What are you doing? What are they doing? I just can't see it. I mean, that's just not what they do it? I just can't see it doing. I mean, that's just, that's not what they do, Mike. I mean, they changed

the modes off. Man, but they've been doing so many things. It's unusual for them recently. So I could maybe see them doing it, but I wouldn't bet on it. I'm leaning towards no, Mike. Okay, I'm going, my answer's no. My answer's no, they're not going to do it, my answer's no. My answer's no,

they're not going to do it. But I could be wrong. I could see where I could be. But I just can't. I'm going to stick with no. The more I'm going to think about it, I'm going to try to talk myself into it. I'm going to go with my first answer's no. Stay with me with my first guy. Yeah, I would

say you're right on that. That's my assessment as well look it's just not the way they operate in foxborough we've seen the patriots and the way they do business year after year it just seems like the deal that they've signed is what they've signed and if cam is going to get any type of incentives or he's going to get and i don't mean like physical incentives in his contract i mean if there is going to be any extra motivation for him to earn a greater salary next year, he's going to earn it on the field, just like every other player, essentially, that has come through the doors in Foxborough. So I do believe that's exactly what

they'll do. I don't think it's going to be a detriment to Cam this year. I know a lot of people are starting to wonder whether or not he's going to be upset that the Patriots have all of this salary cap space now, and they had to sign him to a bargain basement deal. I think he's going to be upset that the Patriots have all of this salary cap space now and they had to sign him to a bargain basement deal I think he's motivated in and of itself I think he's using that deal as an opportunity to show the world this is what I can still do 31 other teams wanted to pass on me well guess what I'm going to show you that New England was smart for signing me and go out there and play uh you know pretty well so I I thank you for that I think you answered that very well and Don't worry, folks.

We're not going to hold Miguel's feet to the fire here. If the Patriots do rework his deal, we're not going to attack him. That's okay. Fair enough. I just want to address the issue that he would be unhappy with the UBSA. If he was really – and I said this on Twitter, and I'll say it again. If he was truly concerned about the Patriots' salary cap space, why sign a deal before the Joe Tooney thing was finalized?

He signed a deal, like, on July 8th. He did not know between July 8th and July 8th that the Patriots were going to trade Joe Tooney or not. If they had traded him, that would have been $14 million in cash flow. He did not know on July 8th when he signed with the Patriots that the Patriots were going to extend Joe Tooney or not. If they had traded him, that would have been $14 million in cash. No one in July 8th would sign with the Patriots if the Patriots were going to extend Joe Tooney, which would exceed up anywhere between $3 to

$7 million in cash space. All right? Let's say you extend Joe Tooney, then you can give Cam Newton a big signing bonus and prorate $5 million like a $20 million, a four-year deal, blah, blah, blah,

and sign him like a $20 million signing bonus, and prorate that $20 million over four years, that's $5 million capital. So the question then becomes now, you're saying, oh, geez. Like, literally, you're saying that Cam Newton and his agent never thought about the possibility of Joe Trudy was going to get traded. Never thought that Joe Trudy was going to be extended. So let's just sign the deal

right now. Who's going to sign him between July 8th and July 15th? Cam Newton. Every team had all off-season to sign him, and they didn't. I don't think another week would have made someone else go after him. That's the other thing I don't get with this argument,

is they don't explain why would he be upset now. That's my question to them. They're saying that Camden should be upset. I'm going to say, why should he be upset? He signed the deal in July before Joe Tooney. Explain that to me, folks. Now I'm ranting and raving because that just blows my mind. I just think about that.

That's just, if you're going to say a man's upset and you're doing his thinking over him, then why don't you think about that for him? Sorry. No, absolutely. I just hate when people do assume what people are thinking. No, it's true. And I completely agree with you. And look, bottom line, that's why we bring you here, to set the record straight, to give a little bit of headway and a clearer path and a clearer line of sight

into exactly what the Patriots can do cap-wise, specifically when it comes to Cam. Like I said, I know that narrative is starting to bud again, especially with seeing $35 million approximately next to your name every time we check Twitter. It's unusual. We don't usually see those types of numbers adjacent you know, adjacent to your name in New England. Yeah. Absolutely.

I've never seen, the pictures have never had this much cap space in August, right? And they never, especially as a high percentage. They've had it in the spring in like 2017, they had higher number, higher cap space in the spring, and then they used it all, a lot of good number of it.

But in August, this is a record for them. The other thing I want to put the record straight is I don't have no idea why people think that Peaches got $34 million in cap space from the eight opt-outs. That's just incorrect. They got about $27.7 million in cash fees, all right? So the eight guys had, the eight people had cap numbers, right? And the total cap number was about $32.5 million, except that's what $34 million was thrown out there

includes a cap number from Najee Torrance, all right? But Najee Torrance's salary was so low, he was counting, you know, he wasn't in the top 51, so he was counting zero against the cap, all right? You know, so that's a mistake to include his $657,000 as cap space for the Patriots when he was never counting against the cap probably an entire offseason okay okay and so then that 34 million dollar number overstates a couple players cap numbers all right the one cap number for Chung and blah blah blah all right and it doesn't take into effect because there were

some salaries that those six seven guys came off the Patriots top 51 list, and seven people replaced them. That was close to $4.885 million in salaries that had to come back. I'm talking about guys like Jason Chak, Jake Bailey, Byron Carver, Ryan Uso. All those guys weren't in the top 51. Now they are. You know what I'm saying? Right.

So that number was just incorrect. It wasn't. The true number is $27.7 million. All right. How much cash they got from the opt-outs? And then from that, hold on a minute. Let's see. Did I get the next one?

One. Can you? Okay. Oh, the other thing I wanted to say. Let's see, did I get the next one? One, Cam Newton, top savings. Okay, $16 million. Oh, the other thing I wanted to say is that I threw this one for my list. One of my better followers, Belfast Patriots fan, all right? I just want to let him know, and there's some folks there right now. One of the reasons I keep on telling you things that the Patriots are going to use about, let's just, $15 million as a guess because I have no idea how many plays they're going to have to replace during the season.

I'm just guessing. I totally admit it's a guess. It could be much lower, but I'll say this. $2.3 million in cap space as players who earn non-likely to be earned active roster bonus. For example, what I'm talking about, like David Andrews, who wasn't active for a game last year. Every game that he's active for, his roster bonus is going to be now to hit in the following week, the cap the next, the following week.

If you do the total amount for 13 guys, that amount is $2.3 million. All right? And I think that I got all the seven I wanted to put in there. Well, my friend, what can I say?

The seven pearls of wisdom that were dropped here on the podcast today, folks, are wisdom that I know you're going to carry into the weekend and regale all of your friends. And knowing exactly where you heard it, give Miguel all the credit because he really you do a phenomenal job, my friend. What can I say? Tell your friends to subscribe to Lockdown Patriots. Oh, well, thank you, my friend. That means a lot to me. And I do appreciate that. And I thank you for all of your wisdom and counsel, your assistance. But you never disappoint.

Whenever you grace our airwaves, I could not be more honored, I could not be more humbled to give you the platform that you so richly deserve to provide the great information that you do. Folks, follow Miguel at PatsCap on Twitter. I say it every time he's here. I'm going to say it again. He is the salary cap top gun. The plaque for the alternates does not exist because he has no equal in this business, folks.

Buddy, what can I say? Thank you so much for joining me today. Stay safe. Stay well. We always look forward to having you back here on the pod very soon. Now that we're getting into on-field mix-ups, you know, we'll probably try to give you a little rest and try to allow you a little opportunity to get some well-deserved R&R for now. But anytime there's anything related to the Patriots salary cap,

we'll have you back, buddy. Yeah, I hope I got a break, but I don't think. I hope the Patriots get, like, five open loss spots. Sign them, guys. Please feel free to sign them. Absolutely. And sign them quickly. And when you get them, when they do, we will definitely seek your wisdom and counsel and have you back here on Locked on Patriots.

I always kid, bud. You know you have an open invite, an open seat. Whenever you want to share something, I'm always happy to give that for you. And likewise, whenever I know that my listeners need a little financial wisdom and counsel, things I cannot provide for them, you're always there for the handoff, and I appreciate it. Again, my friend, stay safe, stay well. Have a great weekend. My best wishes to you.

I hope the power comes back on in your area very soon. I thank you for really going above and beyond to join me here on the pod tonight. It means a lot to you. I hope the power comes back on in your area very soon. I thank you for really going above and beyond to join me here on the pod tonight. It means a lot to me. Again, buddy, take it easy, and we'll be talking to you very soon. Take care, Mike. Have a good weekend. Stay safe, everyone.

Thank you. You as well, buddy. And so, Patriots fans, we've been a fond farewell to the week that was here on the Locked On Patriots podcast. And there really are few better ways to end the week than with a little lecture on Foxborough Finance, courtesy of Professor Ben Zahn. It is always a fun and informative conversation whenever Miguel joins me here on the pod. I thank him for his appearance today. And also, I want to give a special thanks and shout out to my great guests that helped make the week that was here on Locked On Patriots

such a great one. Ian Glendon of Full Press Coverage, Alex Barth of 98.5 The Sports Hub, Steve Balistrieri of Patsfans.com, and of course the Count of Murphy Fisto himself, my good buddy Thomas Murphy of DieHardBostonSportsFans.com. Folks, I'm always honored and humbled to be joined by such great company in my efforts to bring you the most comprehensive coverage possible of your new

England Patriots. And starting next week, folks, your new England Patriots finally hit the practice fields. So to make sure that you do not miss a single second of the action, subscribe to locked on Patriots via Apple podcasts, follow us on Spotify, download us wherever you get your podcasts.

And don't forget, you can always listen to Locked On Patriots right on your very own smart device. Simply ask it to play the latest episode of Locked On Patriots. Once again, I'm Mike DeBate. I thank each and every one of you so much for not only listening today, but all week long, and your support 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.