this content element requires the Flash 8.0 player. You can download it here

  

Kelly's Departure Creates Nearly $5 million In Cap Room

By: Jim Flynn

February 24, 2008 @ 10:00am

Tampa Bay cornerback Brian Kelly will become a free agent on Feb. 29 after buying himself out of his contract (Getty)

Tampa Bay cornerback Brian Kelly will become a free agent on Feb. 29 after buying himself out of his contract (Getty)

Tampa Bay created $4.7 million in salary cap room when cornerback Brian Kelly decided to buy out the final year of his contract with the Buccaneers several weeks ago. The Buccaneers will be approximately $35 million under the league-mandated salary cap when free agency begins on Feb. 29.


 
Tampa Bay cornerback Brian Kelly decided to buy out the final year of his contract with the Buccaneers several weeks ago, meaning he'll become an unrestricted free agent on Feb. 29.

While Kelly's departure left a void at Tampa Bay's cornerback position, it created $4.7 million in salary cap room for the Buccaneers, PewterReport.com is reporting.

Kelly, 32, was scheduled to earn a $3.2 million base salary and receive a $1 million roster bonus this year, bringing his total cap value to $4.65 million.

But by buying himself out of his contract, Kellly was required to repay the Buccaneers $500,000 in signing bonus money, and he will not receive the $1 million roster bonus as originally scheduled.

Although he's struggled with injuries over the last two seasons, Kelly could still pique the interest of several teams around the league. He has notched 429 career tackles, 22 interceptions and 118 passes defensed since entering the league in 1998 as a second-round draft pick out of Southern California.

Last season, Kelly played in just 11 regular season games (four starts) due to a nagging groin injury. He notched 25 tackles and two interceptions while playing mostly in nickel situations behind Ronde Barber and Phillip Buchanon.

Tampa Bay will be approximately $35 million under the league-mandated salary cap when free agency begins on Feb. 29.


Want the inside scoop on the Tampa Bay Buccaneers' 2008 offseason plans? Want to find out who the Bucs are targeting in free agency and the NFL Draft this year? Subscribe to PewterReport.com's Pewter Insider by clicking here.

WATCH Pewter Report's Scott Reynolds and Jim Flynn on select Sunday nights at 11:30 p.m. on Sports Zone with Al Keck and Tom Korun on ABC Action News in Tampa Bay for Bucs game highlights and the latest Bucs news. And for the best local coverage of Tampa Bay sports and Tampa Bay news, check out ABCActionNews.com.

LISTEN to Pewter Report's Jim Flynn each Monday morning at 8:30 a.m. on the Pewter Pulse with Dan Sileo on WDAE 620 AM The Sports Animal, and catch Pewter Report's Scott Reynolds each Wednesday afternoon at 5:00 p.m. on the PewterReport.com Buccaneer Blitz with Steve Duemig on WDAE 620 AM The Sports Animal.

 
Back to Top

Comments

Horse

Good for Kelly. I believe he saw the hand writing on the wall that at 32 he was to old for this team that is attempting to get younger in defense. He can still play another year at a decent level for a team like New England, Dallas, Pitsburgh.
Go Bucs.

10:16am, February 24, 2008

gkenney

After missing half of the last 2-3 years on IR, who in their right mind is going to pay him the $5 mil he is walking away from.
Bruce must have ran to the bank to cash that check before he stopped payment.

10:52am, February 24, 2008

aricvann

I think both of you are wrong.

Horse: I think Kelly did this for the money. He thinks he will get a more lucrative contract, not because he saw the bucs trying to get young.

Gkenney: He will get paid more than he lost. Even though he's getting up there in age and is oft injured he's still a really good corner when healthy. He will make that up.

Will be sad to see him go if not resigned. We had good cornerback depth this year.... I hope we do again.

11:24am, February 24, 2008

bucfan47

I agree. First two guys are wrong. BK is making the right choice here. He can get a better contract from another team easily b/c teams have more money to pay out b/c of the cap increase by the league last year.

When healthy, Kelly can be a shut-down corner and guys that play the game know his talent. I personally hate to see him go, mainly b/c I think he's a class act on and off the field (something you don't find everyday) and I would have liked to see Tampa not be forced to address the CB position just yet. I felt with Barber, Kelly, Buchanan (and a healthy Torrie Cox), we could have signed another CB (like Dwight Smith) and been ok for another year. Maybe just draft one player. Now the Bucs (I feel) will be forced to draft a CB in the draft and quite possibly put themselves in a position to look at adding another CB through Free Agency or a trade.

I would like to personally thank BK for all he's done for Tampa Bay. He's a great talent. He came along way! Get luck Bro!

12:02pm, February 24, 2008

bucfan47

I also would not be surprised to come-to-know, he and Bruce have reached a decision that A). Tampa met with Kelly and informed him they want to re-structure his contract and B). B/c of this, he's allowing Kelly to test the free agent market to try and find more money.

If he cannot, I'd look for Kelly to re-sign with the Bucs for less money.

To me, there is a good chance it could happen.

That would explain why he would want to buy himself out, he does this to put himself into position to inform teams about his availability to be signed much earlier, instead of waiting until Free Agency begins.

Just my opinion.

12:07pm, February 24, 2008

donny77

There is no such thing as a restructure in the last year of a contract. One year contracts get replaced with a contract extension. There is no way to restructure a one year deal as you can move any money to another year. Kelly wanted out because after coming back from injury this year he was still behind Buchannon on the depth chart. This has to do with starting status and money. I have a hard time believing he will get more than 5 million a year. He may make more over the course of a new contract than he would have with the Bucs over the same time span, but he will definitely lose money next year.

12:48pm, February 24, 2008

quezilla

I wonder where he will land? Detroit, Indy, Pit., KC...

2:35pm, February 24, 2008

billbyrne

Brian Kelly has been and still is a pure "class act' and I wish him well. I only hope he does not end up in Atlanta to beplace Deangelo Hall.

Good luck Brian and thanks for the memories.

4:34pm, February 24, 2008

drt1066

McCardell, Keyshawn and Rice all lost millions after leaving the Bucs. Would you pay millions for a damaged Brian Kellly?

5:11pm, February 24, 2008

tjbucs

He is a very good corner when healthy. Lately that has not been too often. I would like to see him resign but I think he is too expensive at this stage. Plan on drafting a CB and picking up someone in FA. There have got to be some with similar skills that will be available. Good luck Mr. Kelly and thanks for everything.

11:28am, February 27, 2008

Leave a Comment

Subscribe Now
  

INSIDER ARTICLES

PI Quick Hits

Is Tampa Bay happy with its stable of running backs? What backs could land...

read more

Pewter Prospect: WR Demaryius Thomas

Do the Tampa Bay Buccaneers have a need for a big, speedy wide receiver? Is...

read more

Is DE Graham The Pass Rusher The Bucs Need?

Tampa Bay is in need of a pass rusher, and Michigan DE Brandon Graham...

read more

Pewter Pulse Podcast With SR 2-2

Pewter Report publisher Scott Reynolds appeared on the Pewter Pulse with...

read more

Chat Transcript: 2/2/10

Did you miss the Pewter Report chat session on Tuesday afternoon? Not to...

read more