San Francisco, CA
San Francisco 49ers Salary Cap Situation And Finances Heading Into NFL Free Agency
The San Francisco 49ers’ cap state of affairs is sophisticated heading into NFL free company. (AP Photograph/Ben … [+]
The San Francisco 49ers head into NFL free company in a less-than-stellar wage cap state of affairs. The 2-time defending NFC runners-ups even have a pleasant quantity of free brokers they need to contemplate bringing again whereas trying into doable extensions for star gamers.
There’s a serious backdrop right here. That’s San Francisco’s quarterback state of affairs following the elbow damage Brock Purdy suffered within the NFC Championship Recreation. With veteran Jimmy Garoppolo all however gone and Trey Lance additionally coming back from damage, it’s protected to imagine that basic supervisor John Lynch will herald an out of doors possibility in free company.
As we put together for the beginning of the brand new league 12 months, I assumed it made sense to test in on the 49ers’ cap state of affairs. Right here’s an in depth clarification as of proper now.
San Francisco 49ers Are At present sixteenth In Cap Room
Based on Spotrac, San Francisco is roughly $3.19 million beneath the $224.8 million NFL wage cap for the 2023 season.
Together with exclusive-rights free brokers, these 49ers have a whopping 25 gamers set to hit the open market. That features starters Jimmie Ward, Samson Ebukam, Emmanuel Moseley, Mike McGlinchey and Tashaun Gipson.
It’s protected to imagine that a few of these gamers, primarily Ward and McGlinchey, will likely be priced out of the 49ers’ market. That creates potential exterior wants as soon as free company opens. However there’s lots of layers to this. Let’s test in on them under.
San Francisco 49ers Have Choices Forward Of NFL Free Company
Restructuring the contracts of gamers similar to Trent Williams would save the San Francisco 49ers a … [+]
We already know the way effectively 49ers president and wage cap guru Paraag Marathe has labored previously. He’s among the many finest within the league in enjoying wage cap gymnastics. I’m anticipating nothing totally different this time round.
San Francisco has a capability to create a ton of cap room by restructuring sure contracts. It has been the modus operandi of the group within the current previous.
Per Over the Cap, this cycle may embrace a cap financial savings of an estimated $59 million by restructuring the contracts of Trent Williams, Arik Armstead, Fred Warner, George Kittle, Charvarius Ward and Christian McCaffrey.
Pushing again cap hits to later years has been a normal operation process for NFL groups. That’s now magnified with the NFL wage cap set to extend leaps and bounds because of the league’s historic income and tv contracts. In brief, giant cap hits in 2024 and past gained’t have the identical affect as we’re seeing at this time.
The Nick Bosa Equation
The San Francisco 49ers have to fret a few Nick Bosa contract extension. (AP Photograph/Godofredo A. … [+]
The reigning NFL Defensive Participant of the 12 months at the moment boasts a cap hit of $17.86 million for the 2023 season, the ultimate 12 months of his rookie contract.
San Francisco’s brass has made it clear that the crew intends to signal Bosa to what can be an historic contract extension this offseason.
“I feel we’ve a very good observe report. You look the final 5 years, working backwards with Deebo and earlier than that it was Fred and Kittle and Trent and Jimmy of getting our gamers finished, however it takes time, it takes persistence, it takes persistence, and we’ll have that on our facet,” San Francisco 49ers basic supervisor John Lynch mentioned earlier in February.
Based mostly on the 49ers’ observe report, we will’t count on something to get finished on this entrance till the summer time months. Large ticket extensions for the likes of George Kittle, Deebo Samuel and Fred Warner didn’t get finished till August in earlier years.
Even then, San Francsico can funds for a Bosa extension. Even when it’s a market setter for a defensive participant in NFL historical past, Bosa’s cap hit for the 2023 season would lower considerably. Per Over the Cap, mentioned financial savings would are available in at an estimated $13.42 million relying on the ultimate particulars of an extension.
Backside Line: San Francisco 49ers Can Be Energetic In Free Company
That’s the overriding takeaway right here. Whereas the 49ers’ cap state of affairs doesn’t appear nice proper now, they will really head into free company with roughly $62 million in cap room.
With three NFC Championship Recreation appearances previously 4 years, it’s clear that the 49ers are in win-now mode. It makes excellent sense for Lynch and Co. to maintain this championship window open by including to San Francsico’s loaded roster.
We noticed it to an extent with the signing of Charvarius Ward to a big-ticket contract final offseason. The blockbuster in-season commerce for Christian McCaffrey added one other layer to this.
With no choose within the first two rounds of the 2023 NFL Draft, San Francisco can’t count on rookies to play big roles in 2023. It should now make the choice to push cap points down the highway in an effort to create extra expertise and depth throughout NFL free company. It’s the one logical conclusion proper now.
San Francisco, CA
San Francisco supervisors initially approve 3,500 new homes at Stonestown Galleria
Atop 30 acres of parking at San Francisco’s Stonestown Galleria mall may soon come 3,500 new homes, acres of open space and other community services.
In a first reading of legislation by San Francisco Mayor London Breed and Supervisor Myrna Melgar, the San Francisco Board of Supervisors on Tuesday gave initial approval to a plan to redevelop acres of parking at the mall into housing, senior services, child care and park space, according to a statement from the mayor’s office.
Supervisors will vote on whether to give final approval to the project—located in the southwest part of the city near San Francisco State University—at their full meeting next Tuesday, according to a mayor’s office spokesperson.
“With the approval of this transformative project at Stonestown, we are showing how we can get to yes on housing and create a more affordable San Francisco for all,” Breed said. “This investment in our city will deliver jobs, sustain the mall as an economic engine, and provide badly needed housing, including for our seniors.”
The mayor’s office statement added that the project, proposed by real estate management firm Brookfield Properties, will help execute Breed’s Housing for All plan to allow the development of 82,000 new homes to meet a state mandate over the next eight years.
San Francisco, CA
OpenAI CEO Sam Altman’s $27 million mansion is a ‘lemon’ with a leaky pool, lawsuit alleges
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Sam Altman’s $27 million San Francisco luxury abode is apparently plagued with issues, ranging from a leaky infinity pool to faulty piping that dumped raw sewage on the property. That’s according to a lawsuit that The San Francisco Standard linked to the OpenAI CEO’s residence, which claims Altman purchased a “lemon” with “pervasive shoddy workmanship and corner-cutting.”
The 9,500-square-foot estate is situated on San Francisco’s iconic Lombard Street, where it overlooks the city and the bay. As you can see in this walkthrough of the home, some of its key features include a four-sided infinity pool that hangs off the edge of the house, a “Batcave” leading into a garage, as well as a system that uses recycled rainwater to irrigate an expansive garden and flush toilets inside the house.
But the $27 million mansion might not be all it’s cracked up to be. In a lawsuit filed last week in a San Francisco court, Altman’s legal team claims the real estate developer Troon Pacific “misrepresented the condition of the Property as of the highest quality” to sell it “as quickly as possible.” The plaintiff also accuses the developer of failing to hire qualified contractors, some of whom allegedly “retaliated” by “filling drainage and sewer pipes with contractor bags and debris” over claims they weren’t paid on time.
That “shoddy” workmanship has led to the pool leaking a “flood of water” into the home’s lower level last August, causing “the gypsum ceiling in that area to fail” and “the widespread presence of mold,” as claimed in the lawsuit. Altman’s legal team estimates the cost to repair the pool would be upwards of $4 million, and that’s not counting the “unconnected bathroom sewer line that dumped raw sewage on the ground,” “numerous leaking irrigation lines,” the “water intrusion at skylights,” among other issues.
For now, Altman might be stuck dealing with some inconveniences around the house while the lawsuit runs its course. But maybe he can ask ChatGPT for help fixing some of its issues — or, better yet, give him suggestions on how to find a new place.
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