10 year veteran corner Nnamdi Asomugha passed waivers and went unclaimed Tuesday, which puts the 49ers in position to pay the $470,000 left on his salary, according to a source familiar with the contract.
Asomugha was released by the Niners on Monday, making room for another veteran cornerback, Eric Wright. Since this transaction occurred after the trade deadline the waiver system was put into effect.
In April Asomugha signed a one year contract that included a $1 million base salary. He opened the season on the 53 man roster and was guaranteed the full season’s salary amount because he is a vested veteran. (4+ seasons)
If a so-called “vested veteran” is on a team at the start of the season and thereafter is released, he has the right to collect the balance of his base salary for the season — even if he later signs with another team.
This situation hurts the Niners financial standing with a number of contracts nearing expiration. The salary cap space figure is of utmost importance in the negotiation process moving forward and that $470,000 could have been used for bonuses on multi-year deals.
Both quarterback Colin Kaepernick and outside linebacker Aldon Smith’s rookie contracts are set to expire following the 2014 season. The 49ers can begin contract negotiations this off-season. Both players are due for huge paydays after stellar campaigns to start their respective careers.
Asomugha only suited up for the Niners for three games. He recorded 2 tackles and 2 passes defended while in action. One can only assume that this is the end of the road for the once feared corner.
Tags: San Francisco 49ers