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Adrian Peterson Has A Quietly Terrible Contract; Cutting Him Would Save The Vikings A Ton Of Money
http://finance.yahoo.com/news/adrian-peterson-quietly-terrible-contract-132546435.htmlThe Minnesota Vikings reversed course and decided Wednesday to bar Adrian Peterson from the team until his legal issues are resolved....
Peterson is three years into a six-year, $96 million contract extension. However, the Vikings have already paid out the $36 million in guaranteed money that the contract contained, according to Spotrac. That means they can cut Peterson without paying him a dime of the ~$56 million he is owed between now and 2017. The only financial penalty of cutting him would be a small cap hit ($2.7 million this year and $2.4 million in 2015, Spotrac reports).
Because Peterson's contract is non-guaranteed from here on, the Vikings have no real obligation to keep him.
Even before the allegations of child abuse, Peterson's contract was a knock against him. He's the 12th-highest-paid player in the NFL this year. In a time when running backs are less important than ever before, Peterson is getting paid like one of the league's most important players.
Peterson is three years into a six-year, $96 million contract extension. However, the Vikings have already paid out the $36 million in guaranteed money that the contract contained, according to Spotrac. That means they can cut Peterson without paying him a dime of the ~$56 million he is owed between now and 2017. The only financial penalty of cutting him would be a small cap hit ($2.7 million this year and $2.4 million in 2015, Spotrac reports).
Because Peterson's contract is non-guaranteed from here on, the Vikings have no real obligation to keep him.
Even before the allegations of child abuse, Peterson's contract was a knock against him. He's the 12th-highest-paid player in the NFL this year. In a time when running backs are less important than ever before, Peterson is getting paid like one of the league's most important players.
If they do it, and the expansion Douchebags pick him up
, the 'Bags will have one hell of a one-two punch (so to speak 
) between AP and Ray Rice.
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