Over the past 24 hours, the reported 2006 base salary numbers for both offensive tackle Tarik Glenn and center Jeff Saturday have decreased. According to our cap expert, David Whiteley, Glenn's base salary decreased by $300,000 to $3.35 million. Saturday's dropped $550,000 to $1.75 million.
The end result for the Colts should be a savings of at least $500,000 this year if the salaries have been converted to prorated bonuses.
Due to the league's "30 percent rule" that is now in force due to the lack of a Collective Bargaining Agreement extension, it appears both players needed to restructure their base salaries this season. They were both scheduled to receive base salary increases in excess of 30% in 2007. The moves keep their contracts in compliance, but also help the Colts clear more cap room this year.
Prorating Glenn's $300,000 decrease would save the Colts just $150,000 this year. He has just two years remaining on his current deal.
Saturday's decreased salary, converted to a prorated bonus, would be spread out over three seasons, saving the Colts roughly $360,000 this year against the cap.
A call to Ralph Cindrich, the agent for both players for further clarification regarding these moves, hasn't yet been returned. But if we are able to clarify the details of the changes further, we'll publish a follow up to this report.
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