Post by League Office on Jul 23, 2011 14:39:30 GMT -5
(this was also sent as a leaguewide email)
All:
After taking a much closer look at the Giants situation that led to them being severely over the cap through no fault of Geno's, I do not know what the old commish was looking or not looking at to have allowed it to happen.
It was the Lee free agent signing itself that put the Giants over the cap by approx $15M on 12/28/10. That would have made the signing ineligible and have awarded him to Eric and the Reds at 2 yr $67mil AAS.
I do not see a way the Reds could even possibly financially take him on at this point and see no reason to even approach it from that perspective since many things would have changed for that team. We will use it as a learning experience as to what can happen if the League does not watch teams' salaries and cap space; the audits we have just completed have found some much smaller errors but were done for a reason.
Cliff Lee is now a Free Agent effective 12/28/10. This allows the Giants to be involved in the bidding if they wish.
Geno has not even asked to release Lee or anything along these lines - after assessing the situation and the possible outcomes that are in the best interest of the Giants and the League as a whole, this decision was made.
-The Commish
7/23/11
All:
After taking a much closer look at the Giants situation that led to them being severely over the cap through no fault of Geno's, I do not know what the old commish was looking or not looking at to have allowed it to happen.
It was the Lee free agent signing itself that put the Giants over the cap by approx $15M on 12/28/10. That would have made the signing ineligible and have awarded him to Eric and the Reds at 2 yr $67mil AAS.
I do not see a way the Reds could even possibly financially take him on at this point and see no reason to even approach it from that perspective since many things would have changed for that team. We will use it as a learning experience as to what can happen if the League does not watch teams' salaries and cap space; the audits we have just completed have found some much smaller errors but were done for a reason.
Cliff Lee is now a Free Agent effective 12/28/10. This allows the Giants to be involved in the bidding if they wish.
Geno has not even asked to release Lee or anything along these lines - after assessing the situation and the possible outcomes that are in the best interest of the Giants and the League as a whole, this decision was made.
-The Commish
7/23/11
