Mar 1, 2005, 11:13 PM EDT
Chris Samuels has signed a contract extension with the Redskins. From the Washington Post
The Washington Redskins reached agreement today with left tackle Chris Samuels on a contract extension, sources said, providing the team with more flexibility under the salary cap to pursue free agents.
There is no word yet as to the details of the contract, only that the signing bonus will be the “biggest in team history” according to my source. Keep in mind, however, when seeing the amount of the bonus that Samuels was due to receive some $5.2 million in salary in 2005. The deal almost certainly guarantees all or most of that to spread out the cap impact. The guaranteed salary will be lumped into the signing bonus and, on paper, Samuels’ 2005 base pay will be somwhere around the league minimum. So, when you see his signing bonus, think “SB + 2005 salary” and it won’t seem quite as shocking.
It also appears that, despite some rumors that have been going around, the Laveranues Coles for Santanna Moss trade, like the parrott in the Monte Python skit, is still dead.
But, with the NFL free agency period beginning at midnight, a last-ditch effort to revive a trade that would send disgruntled wide receiver Laveranues Coles to the New York Jets appears to have been abandoned, increasing the chances that Coles would remain with the team next season.
Should Coles stay and if the Samuels deal saves $7 million in the cap, the number that most have estimated would be saved based on the paramaters being discussed, that would leave the Redskins about $13 million under the cap. We all know that at midnight tonight that money will be burning a hole in Dan Snyder’s pocket.
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