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Are The Washington Redskins Fiscally Prudent?

One phrase that does not immediately come to mine when discussing the Washington Redskins is "sound financial management." The Redskins have been lampooned around the league for their profligate spending, and many critics have opined that a day of reckoning would soon be at hand where the Redskins would find themselves hamstrung by their salary cap manipulations.

However, Andrew Brandt of National Football Post writes that the Redskins have been prudent with their spending, and that by spending more in an uncapped year, have allowed themselves financial flexibility for the future. To do this, the Redskins paid off the large bonuses due to both Albert Haynesworth and DeAngelo Hall, which means that $36 million dollars is hitting the Redskins cap in an uncapped year.

But how does this build flexibility?

By paying off the bonuses now, the Redskins are now able to cut Haynesworth or Hall without any further financial ramifications. To fans, this may be galling, as it would appear that the team has paid Haynesworth 21 million dollars with essentially no return. However, if one looks at Haynesworth as sunk cost (money already spent that is never coming back) the logic in paying him his bonus in an uncapped year makes perfect sense. You either swallow hard and pay Haynesworth the money he nominally doesn't deserve and protect your financial flexibility, or you have his contract and bonuses killing your cap space for the next several years.

Of course, Daniel Snyder will immediately kill that flexibility by overpaying for the next pretty bauble that comes on the market.