More bad news in the fiasco we call "Corey Simon":
"There is no question we have put a tremendous amount of money in [Corey Simon],'' Irsay said, declining to publicly address whether Simon will be released in the coming weeks. "That's the reality of free agency.''
Here's another: If the team parts ways with Simon, who is scheduled to count $7.055 million against the team's $109 million salary cap, he will remain a financial liability.
At the very least, the team would have to count the remaining portion of bonuses paid to Simon against the cap. That's approximately $9 million. A possible scenario is for the Colts to release Simon, and split the remaining portion between the '07 (approximately $3 million) and '08 ($6 million) salary caps.
I'm going to barf. It's highly doubtful this fat tub of nothing will ever play for Indy again. And regardless if he does or not, he is still counting a ton against the cap even if they cut him.
Here's another: If the team parts ways with Simon, who is scheduled to count $7.055 million against the team's $109 million salary cap, he will remain a financial liability.
At the very least, the team would have to count the remaining portion of bonuses paid to Simon against the cap. That's approximately $9 million. A possible scenario is for the Colts to release Simon, and split the remaining portion between the '07 (approximately $3 million) and '08 ($6 million) salary caps.
Tip to PaytonMenning for posting this news in the diaries.