Posted: 11:01 a.m. Thursday, June 20, 2013
By David Fucillo
The San Francisco 49ers agreed to terms on a new contract with Justin Smith and we're starting to get some numbers. We don't have the full details yet, but per the NFLPA, we have base salaries and a look at the 49ers current salary cap position.
As it currently stands, the 49ers have cleared $4,273,333 in cap space with this new deal. They now have $6,423,720 in cap space. Prior to Smith's deal, they had $2,150,387 in cap space. They facilitated this by lowering Smith's 2013 base salary significantly, and including a nice little signing bonus. Here are the three seasons' worth of base salary on Smith's deal:
2013: $940,000 (previously $7.5 million)
Smith previously had a 2013 cap number of $8 million with the $7.5 million salary, and a $500,000 workout bonus). In clearing the $4,273,333 in cap space, it would appear Smith's cap number was lowered to $3,726,667. With his $940,000 in base salary, that means there is an additional $2,786,667 in cap figure to be accounted for this year. That almost assuredly includes signing bonus, plus some kinds of roster and/or workout bonuses.
Our man Jason Hurley should have more details in the near future, but I wanted to get these figures out there. The 49ers have more than enough room to sign Eric Reid, but more importantly, they have room to potentially extend Mike Iupati, Tarell Brown or other potential free agents.
Additionally, we'll need to wait and see on the signing bonus and roster bonuses before determining just how team-friendly the contract is. Those are very low base numbers for a guy who ranks among the best in the league. We'll wait for more details.