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Need to Know: The cap implications of the Redskins cutting Chris Culliver

Need to Know: The cap implications of the Redskins cutting Chris Culliver

Here is what you need to know on this Tuesday, May 3, 10 days before the Washington Redskins hold their rookie minicamp.

Timeline

—The Redskins last played a game 114 days ago. It will be 132 days until they host the Steelers in their 2016 season opener.

Days until: Rookie minicamp 10; OTAs start 21; Redskins training camp starts 86

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The Redskins have indicated all offseason that they did not plan to let go of Chris Culliver despite his $8 million salary and unproductive, injury plagued 2015 season.

However, things change quickly. Within a span of seven days, the team signed Josh Norman to a big free agent contract and drafted Virginia Tech cornerback Kendall Fuller. Those acquisitions pushed Culliver, who is still rehabbing from a torn ACL he suffered on Thanksgiving Day, back to at least the third corner and maybe the fourth.

And whether it’s third or fourth, an $8 million salary is too much for that spot on the depth chart. So the Redskins decided to release him on Monday.

They released him with a post-June 1 designation. The Redskins haven’t done that in a while so here is what that means.

Culliver had three years remaining on the four-year contract he signed last year. He was paid a $5 million signing bonus so the cap charge was split with $1.25 million hitting each of the four years on the deal.

That means that the Redskins still have to account for $3.75 million in signing bonus. Had they cut him without the June 1 designation all of that would have hit their salary cap this year. You would subtract that from the $8 million they save by not having to pay his 2016 salary and the net cap savings would have been $4.25 million. The books on the Culliver contract would have been closed.

But the Redskins designed post-June 1. That means a couple of things. The cap charge for the last two years gets pushed to the 2017 cap. So they get $8 million in 2016 cap savings, his $9.25 million cap number minus the $1.25 million signing bonus proration. The signing bonus charge goes into this year’s dead cap. There will be a $2.5 million dead cap charge next year.

So they don’t “save” any money with the June 1 designation. The accounting for the money is all that changes.

There’s one other important thing to know. A catch of using the designation is that the player’s contract remains on the books until June 1. So the Redskins don’t immediately have any additional cap money available as a result of this move. The will have the $8 million credited to their cap on June 2.

It's important to note that the cap space being locked up will not prevent the Redskins from signing any or all of their draft picks. As I wrote here last week the Redskins will need about $1.4 million in net cap space to sign their draft picks. They currently have $4.2 million so they can make it with room to spare.

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Need to Know: What is the Redskins' plan for QB Kirk Cousins?

Need to Know: What is the Redskins' plan for QB Kirk Cousins?

Here is what you need to know on this Tuesday, March 28, 30 days before the April 27 NFL draft.

Timeline

Days until:

—Offseason workouts begin (4/17) 20
—Redskins rookie camp (5/12) 45
—Redskins OTAs start (5/24) 57
—Franchise tag contract deadline (7/15) 109
—First Sunday of 2017 season (9/10) 157

Tuesday three and out

1. Maybe Bruce Allen and the Redskins have a master plan for saving the whole Kirk Cousins situation but right now it just looks like they’re stuck without a solution to paying $24 million to a quarterback who likely will be gone in a year. That’s money that could either be rolled over into future seasons if Cousins gets traded or used as a down payment on a long-term Cousins deal. Maybe there’s a master plan there somewhere but right now it looks an awful lot like the organization is just stumbling around in the dark, stubbing its toe while trying to find the light switch.

2. WR Brian Quick will cost the Redskins less against the salary cap than they are paying him. That’s because his contract takes advantage of the minimum salary benefit. He gets the sixth-year minimum salary of $775,000 plus an $85,000 signing bonus, a total of $860,000. Because of the minimum salary and low signing bonus the CBA rules allow the team to essentially discount the cap hit for the contract down to $695,000. The rule is designed so that younger players are necessarily cheaper, at least when it comes to the salary cap.

RELATED: NFL Mock Draft Version 6.0

3. Allen hinted that the Redskins won’t necessarily hire a general manager after the draft. While talking to colleague JP Finlay he said, “We’ll talk about what we need after the draft from a staffing standpoint.” Not “we’ll search high and low for the best GM in the business” but that needs will be examined. It’s going to be interesting to see how it all shakes out.

And out—Allen didn’t have much to say when JP asked about the stadium project that was a hot topic a year or so ago, only confirming that talks are ongoing. The fact that he had so little to say, not even some platitudes about the desire to build a great environment for the fans. Reading between the lines, this makes me think that a deal is getting close and the less that is said about it at this point the better. Virginia governor Terry McAuliffe will be term limited out of office next January and the feeling is that he will want to leave a Redskins stadium deal as his legacy.

Stay up to date on the Redskins. Rich Tandler covers the team 365 days a year. Like his Facebook page Facebook.com/TandlerCSN and follow him on Twitter @Rich_TandlerCSN.

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Bruce Allen goes full Belichick when talking about Snapchat

Bruce Allen goes full Belichick when talking about Snapchat

When it comes to incorrectly identifying the names of social media platforms, Bill Belichick is the standard-bearer and industry leader. Examples of terms recently uttered by the head coach include gems like "MyFace" and "Yearbook," as the football icon has demonstrated he's somewhat aware of the sites and apps yet doesn't really care about them.

Bruce Allen, though, may have just laid claim to Belichick's crown. In a 1-on-1 interview with CSN Redskins Insider JP Finlay, Allen discussed how he's not involved at all on social media and then proceeded to give Snapchat a glorious new name.

"I don't get to pay attention to everything," Allen told Finlay when asked if the team president keeps up with the constant rumors surrounding Washington quarterback Kirk Cousins.

"You're not on Twitter all the time?" Finlay interjected.

"No, I don't have Twitter," Allen answered, laughing, "and I'm not on Snapper-chapper or whatever it's called."

Allen was in the neighborhood by starting off with "Snap," but the rest of his attempt showed he's not exactly on the right street. Fortunately, unlike Belichick, Jay Gruden has gotten Snapchat's name right in the past, and could likely help Allen get used to the app if Allen ever decides to start using it.

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