Seahawks Cap Space: How we have enough for Russell Wilson and Bobby Wagner

Feb 1, 2015; Glendale, AZ, USA; Seattle Seahawks middle linebacker Bobby Wagner (54) celebrates after making an interception against the New England Patriots in the third quarter in Super Bowl XLIX at University of Phoenix Stadium. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports

Everyone thinks that we’re not going to have enough cap space to extend both Russell Wilson and Bobby Wagner this off-season. I’m here to tell you why we do.

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When a team hands out contract “extensions” the only new money added to the salary cap is one-fifth of the players signing bonus. Bobby Wagner is scheduled to make $977, 427 in base salary in 2015 with a total cap hit of $1,370,663. If and when he signs an extension his base salary is unlikely to change. He is projected to receive a signing bonus in the neighborhood of $10-12 million.

That would then get pro-rated over the rest of his contract (five years max). The last year of his rookie deal and the next four of his extension. One fifth of a signing bonus that size would be between $2 to $2.4 million.

If you add that to his current cap hit you’re looking at roughly $3.37 to $3.77 million in 2015. We’ll just split the difference for right now and go with $11 million, putting each years signing bonus pro-ration at $2.2 million a year.

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It would be the same for Russell Wilson. He currently has a 2015 base salary of $1.542 million due the PPE I discussed in an earlier article. Right now his current cap hit for next year sits at $1,696,868 or ($1.7). His signing bonus is harder to predict, but lets say it’s between $20-$30 million. That would only add $4-$6 million to his cap hit next year.

Add that to his current cap hit and you get anywhere in neighborhood of $5.7 to $7.7 million for 2015. If we split the difference for him and make it $25 million, that’s puts his yearly signing bonus pro-ration at $5 million a year.

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If you add their current cap hits together you get about $3.07 million. Then you add Wagner’s $2.2 and Wilson’s $5.0 and you get an addition of $7.2 million to the cap in 2015.

Right now we have about $12 million in cap space depending on what site you’re looking at. Then you subtract the $7.2 million from $12 million and your left with $4.8 million. Take away another $300k for the rookie class and you enter the season with $4.5 million of space for IR and practice squad.

These numbers could change with any signing/releasing of players but $4.5 million of space is a good amount going into the season.

Next: Jon Ryan Continues To Entertain

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