The San Diego Chargers regular season was a huge disappointment and their offseason could be even more devastating Decision day is coming for the Chargers – its’ fortunes failing on the field because of mistakes made in the NFL draft.

As February turns to March the Chargers have even tougher decisions regarding their veteran roster. Aging players, injuries and contract issues must all be resolved. It’s time to decide who gets pay raises, who takes pay cuts and what do you do with players from other teams. The Chargers have to deal with four significant players, two of whom who could head to the NFL open market as free agents in mid-March, and two coming off significant injury problems, who are due big pay jumps.

Then they will have to decide which role players remain, and how much money gets freed up with those you let leave. Vincent Jackson has been a big play receiver for this team, but has also been a big problem in the past with off-the-field issues. He earned $11 million this past season, but also had nagging injury problems. Jackson’s injuries were minor, and he finished the season very strong. At the end of the day, you don't find many receivers on the open market who can average 18 yards per catch and haul in 37 regular season touchdowns as he has done in his career.

The Chargers have indicated that they will not franchise-tag him, for it would eat up more than $13 million of next year's salary cap. They could and probably should sign him to a state of the art deal, equal to what some of the top wideouts in the NFL get. Arizona’s Larry Fitzgerald makes $11 million per year and is a gifted and fast impact player. He also doesn’t have a rap sheet like Jackson has on his resume. VJ is probably worth $30 million for three years with a $10 million signing bonus included.

The thorny issue is past history, not just his past DUI incidents, but also the issues of how he was treated by Charger’s GM AJ Smith. A lowball offer his first year of free agency, the holdout and then the suspension, and in essence the loss of a full year of star pay for a player who has been a star. If he is not signed by March 13 and goes on the open market, there is no telling what someone else will pay him. He needs to forget the bad blood with the Smith, and they need to forget stupid decisions he’s made in the past. The Chargers also have to deal with Pro Bowl center Nick Hardwick, a cornerstone of toughness and intelligence in the offensive line. He could walk as a veteran free agent, and replacing him would be very hard. His price tag probably revolves around an $8 million signing bonus and possibly a three year $21 million deal.

The hardest questions pertain to the left side of the offensive line, where Pro Bowl tackle Marcus McNeill has a chronic neck issue, the aftermath of stenosis problems dating back to his career at Auburn. He is under contract, but missed half the season when he was reinjured. He’s due a $10 million salary for the coming season, a tremendously high figure. Some think the Chargers will fail him on the physical exam, negating the money due. I think they should restructure down his contract, for he believes he can play next year after an offseason of rehab. Drop him to $5 million and put incentives in the new deal, where he could earn additional money if he stays on the field. If they release him, he could wind up somewhere else and might even pass someone else's physical exam.

The same holds true for Kris Dielman, who lines up next to McNeill, as a Pro Bowl guard. He is due $5.5 million but his health issues, concussions, and the horrors of a grand mal seizure, should be of long term health concerns. He is wavering whether he should come back and play, or go off into the sunset. He’ll likely fail his physical too, and has the contract torn up. Bringing him back at a much lower base salary is realistic, but so is the threat of more health problems too.

San Diego will then decide what to do with a couple of other starters. Nose tackle Antonio Garay had a strong 2010 season, coming in as a free agent. He had nagging injuries and was not as productive in 2011. Do you keep him, or let him walk? Veteran nose tackles that can play are hard to find, but he cannot demand a big deal with a signing bonus.

The same has to be said of left tackle Jared Gaither, found wanting in Baltimore and cut loose in Kansas City. He gave the Chargers four weeks of decent play, but does that offset four years of disappointment elsewhere. He found a home, but he won't find a big deal unless McNeill’s injury has not yet healed. The rest of the decisions involve who to keep and let go.

Fireplug running back Mike Tolbert might command as much as $3 million after two really productive seasons at fullback and running back. Do you keep Jacob Hester, the other fullback, and even smaller than Tolbert? He's not a $3 million-player. What does San Diego do with utility tight end Randy McMichael? Do you pay to keep Steven Gregory, who wound up getting a starting job by default and injury, but did not do much with it?

The same question has to be posed with journeyman Na'il Diggs, and an assortment of other backups. AJ Smith openly says he wants to re-sign his own free agents, and is not interested in other teams’ free agents. But why would you bring back everybody who led you to an (8-8) season, a year in which you missed the playoffs again? He will have to write significant signing bonuses and must definitely keep Jackson and Hardwick.

Smith needs to convince the two offensive lineman to take pay cuts and hope they can play. He must address the lack of toughness and playmakers on defense. It will take signing bonus dollars to lure a key veterans from other clubs. Owner Dean Spanos is about to get sticker shock with upfront signing bonus money of $18 million to keep Jackson and Hardwick and maybe another $6 million to lockdown Gaither and Garay. That's $24 million to keep key players.

It might take another $10 million in bonus money to sign a couple of quality free agents. Roster Roulette could help them hit the jackpot, but the game could also turn into franchise suicide. Dean Spanos and AJ Smith better play this game correctly.

Put your money on the table. Don't fold your cards. Go for broke, or the Chargers’ dreams of being elite again will be broken forever.

Lee 'Hacksaw' Hamilton talks football weekday mornings on XX-1090 Sportsradio.