The Green Bay Packers did not use the post-June 1 designation when releasing outside linebacker Nick Perry Tuesday, meaning the team will take a substantial dead money hit in 2019 but also save a little over $3 million on the cap, according to Rob Demovsky of ESPN.
The Packers will count $11.1 million on the cap this year for Perry to play elsewhere. The team could have spread out the cap hit over two years by using the post-June 1 designation, but the savings on the cap wouldn’t have been realized until June, and they’d still be paying for the mistake on Perry in 2020.
Here were the two options:
– Without the post-June 1 designation: $11.1 million dead money in 2019, $3,337,500 in savings in 2019, $0 dead money in 2020
– With the post-June 1 designation: $3.7 million dead money in 2019, $10,737,500 in savings in 2019 (after June 1), $7.4 million dead money in 2020
The Packers picked the first option, choosing to realize the small bit of savings now and not kick the can down the road on the dead money hit. Perry’s contract will now have no effect on the cap in 2020.
Perry was due a $4.8 million roster bonus later this week and was scheduled to count $14,437,500 on the cap in 2019. Instead, he’ll count $11.1 million on the Packers’ cap while playing elsewhere.
