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Contract restructuring for Cap space has begun
Posted:
Thu May 11, 2023 8:05 amby NorthHawk
They converted about $8.5M of Lockett's contract to cash thus clearing up about $5.5M in Cap space.
I would expect this is just the start with the Safety positions being a big target.
Unfortunately it means a bigger Cap hit in later years.
Re: Contract restructuring for Cap space has begun
Posted:
Thu May 11, 2023 12:30 pmby Old but Slow
Just an impression, but it is not surprising to me that Lockett is the first to come to reasonable terms. He just seems like a true team-first guy.
Re: Contract restructuring for Cap space has begun
Posted:
Thu May 11, 2023 1:05 pmby c_hawkbob
There's no downside to this type of restructure for the player, getting the money now is always better.
Re: Contract restructuring for Cap space has begun
Posted:
Thu May 11, 2023 1:46 pmby RiverDog
Next up has to be Adams, unless we end up trading or cutting him.
Re: Contract restructuring for Cap space has begun
Posted:
Fri May 12, 2023 4:44 pmby tarlhawk
RiverDog wrote:Next up has to be Adams, unless we end up trading or cutting him.
Depends on how his contract is written...most contracts allow a team to convert base pay to a cash bonus without players permission...but not all contracts are the same. JS has done this before with Lockett/RW/Doug Baldwin but doesn't seem to be often inclined to push cap hits to later years by using this tactic/tool. He seems to be doing it only as necessary when looking to fill a need (Mario Edwards for D-line depth/rotation) and already stated when asked post draft that we have existing cap space to sign our rookie class based on our draft positioning...we stayed put with all our picks except our 3rd round pick...using that trade to move into a cheaper slot (4th Round).