The Redskins will cut now, pay later.
To update yesterday’s piece about the little-lamented release of Brandon Lloyd by the Washington Redskins, Vinny Cerrato said that Lloyd was indeed designated as a post-June 1st release. That means that the Skins will be charged the lion’s share of the $7.4 million in accelerated bonus money in the 2009 season, rather than this year.
The decision is hardly shocking; indeed, a decision to eat a net hit of $3 million this year would have been stunning. But just because it’s not a surprise, doesn’t mean it was the right choice.
An early glance at PC’s detailed cap charts reveals that the Redskins aren’t in much better cap shape in '09 than they are now, so it’s not like this move pushes debt into a year with a lot of cap space. But then, this is the Redskins Way. They keep pushing money back, hoping to find a way to convert and cover the dead cash.
That makes the wise use of this year’s six draft picks critical for the team's short- and medium-term prospects.
If they can garner, say, two immediate starters, two future starters, and a special teamer or two, they will be able to replace expensive aging talent with relatively cheap talent.
If they trade a high pick or two for, say, Chad Johnson, the cycle that has them stuck as an okay team—but one incapable of making a push to the Super Bowl—will continue.