Since I have no idea how to bump a fanpost to the front page, props to Built2Spill for bringing this to everyone's attention.
It was first reported by Dave "Softy" Mahler of 950 KJR AM this afternoon, but now Sando is chiming in. According to their sources, Julian Peterson was approached by the team and asked to take a pay cut. Peterson refused and now there is speculation that he may be cut or traded sometime in the near future.
As a reference, here's the nitty-gritty of Peterson's value against the cap straight from Sando's NFC West blog:
Peterson's contract, a seven-year deal running through the 2012 season, calls for $6.5 million in salary for 2009. Counting bonus money already paid, the contract counts $8.8 million against the salary cap if Peterson remains on the roster and $4.6 million if the team releases him.
So if released, the Seahawks would save about $4.2 million in cap space.
The obvious implication pointed out by Mahler and Sando is that Peterson's rejection of a pay cut may mean that his future with Seattle is in doubt. I won't go that far yet, but the fact that the Seahawks approached Peterson about his contract at all would seem to indicate that the front office is trying to navigate payroll and cap issues for next season. Whether or not Peterson is actually in any imminent danger of being cut or traded isn't quite clear at this point.
Since John is taking a few well deserved days off and you're stuck with me, let's use this as a discussion topic. If the Seahawks are really in a cap squeeze and needs to get out from under one of the bigger contracts, would Peterson be the one to cut? Someone else?
It's a shame we don't have any more information concerning the health of Walter Jones. Like I've said before, if that knee is going to be a problem moving forward I would cut Big Walt before Peterson or any of the other big contracts.