Tag: salary cap

Latest Jets salary cap update before 2024 NFL Draft

Latest Jets salary cap update before 2024 NFL Draft

The day has arrived. Thursday kicks off the 2024 NFL Draft. The Jets are set to select 10th in Thursday’s first round and currently have seven total picks in the draft, one pick in Rounds 1, 3, 5, 6 and 7 as well as two picks in Round 4. They currently do not have a pick in the second round.

According to Over the Cap, the Jets currently only have about $2.8 million in cap space. That includes the recent trade of Zach Wilson to the Denver Broncos. As it stands now, the Jets will likely have to create space to sign their draft class. The projected 2024 cap hit for the 10th pick is about $4 million and a total draft pool cap hit of about $9.5 million.

Fortunately, there are still ways to do so. For example, the Jets could restructure the contract of Quinnen Williams and turning most of his $14.4 million base salary into a signing or roster bonus.

The Jets may have to get a little creative to sign their draft picks, but they have all summer in which to do so. The team should be just fine from that standpoint.

Breaking down Amon-Ra St. Brown’s contract extension with the Lions

Breaking down Amon-Ra St. Brown’s record-setting contract extension with the Lions

The Detroit Lions interrupted the NFL draft conversation on Wednesday by locking up All-Pro wide receiver Amon-Ra St. Brown to a massive new contract extension. The deal locks up St. Brown through the 2028 season and includes the biggest amount of guaranteed money for any wide receiver in NFL history.

Per Spotrac, the new contract details show some cap creativity from the Lions. The deal is for $120.01 million over four years at the end of his current contract, which expires after the 2024 season. His salary cap hit for 2024 remains a relatively paltry $4.8 million.

After that, the cap hits escalate quickly thanks to the $77 million in guaranteed money, which includes a $16.6 million signing bonus. Only the prorated part of the signing bonus gets tacked onto the Lions cap in 2024.

The cap hit in the subsequent seasons, from Spotrac:

2025: $13.9M
2026: $33.1M
2027: $28.9M
2028: $41M

As is becoming the norm for the Lions and their contracts, they tacked on one void year to help spread out the cap hit even longer. The 2029 season voids and will cost Detroit $1.7 million in dead cap that year.

Salary cap impact of James Hurst retiring with the Saints

What is the salary cap impact of James Hurst retiring with the New Orleans Saints? Previous moves set up a pretty clean break:

An already-difficult New Orleans Saints offensive line outlook got a little more complicated on Wednesday. Veteran left guard James Hurst announced his retirement after a decade in the NFL, opening a void next to an already-open spot at left tackle. But the Saints weren’t exactly caught by surprise, and the salary cap impact will be minimal.

This may have been broadcast earlier this offseason. Hurst agreed to a pay cut in March that lowered his cap hit from $6.5 million to just $2.97 million, giving up most of his base salary as well as some bonuses. Hurst told NewOrleans.Football’s Mike Triplett that he previously told the team about his intentions to retire, so that was all part of the plan. But what happens next now that he’s retiring?

It depends on how the Saints want to handle it. If they process Hurst’s retirement now, it’ll leave behind more than $2.2 million in dead money while saving just $688,000 against the cap. But if they wait until after June 1 to process his retirement then they’ll defer some of those dead money charges into 2025 while saving up to $1.21 million this year. That’s the same tactic they’ve taken with previous retirements for Drew Brees and Malcolm Jenkins.

Getting another $1.21 million in June would be helpful; the Saints are already expecting some returns for releasing Michael Thomas and Jameis Winston as post-June 1 cuts, and those salary cap resources can be used to sign rookie draft picks or bring in veteran free agents. It’s all part of the puzzle that Mickey Loomis and Khai Harley are putting together in the front office.

[lawrence-auto-related count=4]

Broncos exercise Pat Surtain’s 5th-year option for 2025 season

The Broncos have picked up Pat Surtain’s fifth-year option. He’ll now earn about $19.8 million in 2025.

The Denver Broncos have picked up cornerback Pat Surtain’s fifth-year option for the 2025 NFL season, according to ESPN’s Adam Schefter. Next week (May 2) was the deadline to exercise the option.

Surtain, 24, had one year remaining on his rookie contract before Denver exercised the option for next year. Surtain is set to earn about $3.5 million in 2024. He’ll get a big raise in 2025 as the fifth-year option is projected to be worth about $19.8 million.

Every player picked in the first round has a team option for a fifth season. The cost of that option depends on the player’s position, playing time and Pro Bowl selections.

[gambcom-standard rankid=”5375″ ]

Surtain’s basic salary would have been around $12.4 million if he did not meet any of the following incentives: playing time ($13.3 million), one Pro Bowl ($17.2 million) or two Pro Bowls ($19.8 million), according to NFL Network.

Surtain maxed out his potential earnings by playing 95% of the team’s defensive snaps and earning two Pro Bowl nods in his first three seasons. The star cornerback is now under contract for at least two more years, and the Broncos will likely work on a long-term extension next.

[vertical-gallery id=620142]

[lawrence-auto-related count=5 category=482983128]

Broncos and Jets will split QB Zach Wilson’s salary in 2024

The Broncos and Jets are splitting Zach Wilson’s contract in 2024, each paying the quarterback about $2.72 million this season.

The Zach Wilson trade truly is a low-risk move for the Denver Broncos.

The Broncos only gave up a sixth-round draft pick (and they got a seventh-round pick back), and Wilson won’t cost much in 2024.

Wilson is entering the fourth and final year of his rookie contract. Denver and New York have agreed to split his salary this year, according to ESPN’s Adam Schefter.

Schefter’s math does not seem to completely check out. It’s possible he just rounded up to $5.5 million and split that in half to get $2.75 million.

If OverTheCap.com’s figures are accurate, the actual number is $5,453,274. Split in half, that would be $2,726,637 paid by each of the Broncos and Jets in 2024 (for what it’s worth, that’s the number listed on Spotrac.com).

The Broncos, of course, know what it’s like to pay a QB to play for a different team. They are still paying Russell Wilson $37.79 million this season while he earns just $1.21 million from the Pittsburgh Steelers.

Bringing in (Zach) Wilson was a low-cost move for Denver to acquire a 24-year-old quarterback with some upside. Even if he’s nothing more than a backup for the Broncos, the trade makes sense.

Follow the Broncos Wire Podcast:
Apple Podcasts | Spotify | Google Podcasts

[vertical-gallery id=620142]

Broncos WR Courtland Sutton skipping offseason workouts in contract dispute

Broncos wide receiver Courtland Sutton is skipping the team’s (voluntary) offseason workouts as he seeks a new contract.

The Denver Broncos kicked off their (voluntary) offseason workout program on Monday and there was a notable absence.

Broncos wide receiver Courtland Sutton did not report to the team’s facility “as he seeks a new contract,” according to NFL Network’s Tom Pelissero. Because these workouts are voluntary, Sutton will not face any fines.

It’s a big statement for the receiver to make, though, because the team had great attendance under new head coach Sean Payton in 2023. The most notable player to skip workouts last spring was kicker Brandon McManus, and he was cut.

Denver probably won’t cut Sutton, but there have been rumblings about the possibility of a trade. Sutton has also written cryptic messages on social media, prompting speculation that he’s unhappy about his status with the club.

The Broncos already traded Jerry Jeudy to the Cleveland Browns earlier this year, so they’ll be thin at WR if they also send Sutton packing.

Sutton is set to have a base salary of $13 million this year, but only $2 million is guaranteed. His salary will increase to $13.5 million next year with no guaranteed money. The receiver is presumably seeking more security as he enters his age-29 season.

Sutton hauled in 59 receptions for 772 yards and 10 touchdowns in 2023.

Denver’s top wide receivers are Sutton, Mavin Mims, Tim Patrick, Josh Reynolds, Lil’Jordan Humphrey, Jalen Virgil and Brandon Johnson.

Follow the Broncos Wire Podcast:
Apple Podcasts | Spotify | Google Podcasts

[vertical-gallery id=620142]

Rams salary cap update: How much space does LA have ahead of the draft?

With all of their free-agent signings now accounted for, here’s how much cap space the Rams have left heading into the draft

Last offseason was all about departures for the Los Angeles Rams, but it’s been a completely different story this year. They’ve not only retained many of their own free agents, but they’ve gone out and made some significant additions to the team.

Some of their biggest signings were Jonah Jackson, Colby Parkinson, Kamren Curl and Tre’Davious White, along with the extension given to standout guard Kevin Dotson.

There’s still plenty of work for the Rams to do and they’ll have 11 picks to work with in the draft this year, but they’ve done an excellent job filling out the roster after a surprisingly good season in 2023.

Not only do the Rams have nearly a dozen draft picks, but they still have enough cap space to sign a few more veterans if they’d like to. With White’s contract now on the books, Over The Cap provided an update on the Rams’ current cap space.

According to OTC, the Rams have $11.55 million in cap space available. That ranks 18th in the NFL. When you factor in the incoming draft class, which is expected to take up about $3.82 million in cap room, the Rams have $7.72 million in effective cap space. That’s also 18th in the league.

That’s not a significant amount, but with the way the Rams have structured contracts this offseason, they would be able to add at least one more veteran in free agency. The only two players they signed this offseason with 2024 cap hits larger than $4.67 million are Jonah Jackson ($13.67 million) and Dotson ($12.67 million).

The Rams could also free up $19.9 million by restructuring Matthew Stafford’s contract, though that seems highly unlikely to happen at this point.

Tre’Davious White’s contract with Rams appears to be much cheaper than anticipated

Tre’Davious White’s contract was reported as being worth $8.5 million, but the finer details show he has a cap hit of just $3.5 million

Tre’Davious White was one of the Los Angeles Rams’ big signings this offseason, inking the former Buffalo Bills cornerback to a one-year deal. When the news was first reported, White’s contract was said to have a base value of $8.5 million and a max value of $10 million with incentives.

White finally signed his contract this week and since then, details of the one-year deal have emerged. According to Over The Cap, White’s contract actually has a base value of $4.25 million and only $3.25 million guaranteed at signing.

His base salary is only $1.5 million and he got a signing bonus worth $1.75 million, which amounts to $3.25 million fully guaranteed. His cap hit in 2024 will be just $3.485 million, a very manageable number for the Rams.

Additionally, Over The Cap writes that White has “up to $1 million in per game bonuses,” which can increase the overall value of the contract.

While some viewed the contract as being a bit risky when it was first reported, signing a two-time Pro Bowl cornerback for only $3.25 million guaranteed seems like a worthwhile move for a team seeking help in the secondary. He’s injury-prone but so was Ahkello Witherspoon and he was healthy all season in 2023.

The cost is reasonable and the upside is great if White can stay on the field, making this a much better signing than it seemed at first glance.

Colts carrying $8.3 million in dead cap on 2024 books

The Colts are carrying $8.3 million in dead cap on their 2024 salary cap. Here is what that means for the upcoming season.

At the moment, the Indianapolis Colts are carrying $8.3 million in dead cap that counts towards their 2024 salary cap.

That $8.3 million figure is from two plays: Shaq Leonard at $8 million and Darius Rush at $268,245, according to Over the Cap (OTC).

In short, dead cap is money that has already been paid out to the player but is yet to have counted against the salary cap.

In Leonard’s case, he received guaranteed dollars when signing his extension in 2021. But from a salary cap perspective, rather than the Colts absorbing the cap hit of those guaranteed dollars right away, they pro-rated the cap hit over the life of the contract in the form of a signing bonus.

This is common practice around the NFL as it provides cap help in the moment, but for the Colts, who moved on from Leonard before his contract was up, they are now feeling the cap ramifications of pushing those initial charges into future years.

Leonard’s $8 million dead cap hit will be the seventh largest cap hit on the team in 2024.

With that said, overall, the Colts are still in relatively good salary cap shape. The $8.3 million in dead cap they are carrying is actually the fifth-lowest amount in the NFL, and likely had little or even no bearing on how GM Chris Ballard went about the offseason.

As of now, OTC has the Colts with $16.92 million in available cap space. However, that figure does not yet take into account Julian Blackmon’s new contract.

On top of that, the Colts are going to need cap space to sign the incoming draft class, which OTC projects will take up about $4.1 million in cap space. They’ll also need available space to construct the practice squad and they’ll need reserves for in-season spending, whether that be for additions or game-day elevations from the practice squad.

So, while $16.92 million may be what the Colts have available on paper, that is not what they actually have available to spend.

Odds are that Blackmon was the last significant free agent addition that Ballard will make. At this stage of the offseason Ballard may wait and see how the draft unfolds, and then if he feels there is still a need to fill, he will explore free agency afterward in search of a low-cost addition to help round out the roster.

Atlanta Falcons salary cap hits for each player in 2024

Looking at individual salary cap hits for every #Falcons player under contract in 2024

The Atlanta Falcons finally addressed the quarterback position, signing Kirk Cousins to a four-year, $180 million contract on the opening day of free agency.

Cousins is now the highest-paid player on the team while last year’s starter, Desmond Ridder, has been traded to the Cardinals. Backup quarterback Taylor Heinicke took a pay cut, lowering his 2024 salary cap hit to $4.5 million.

According to Over The Cap‘s projections, Atlanta still has over $6 million in cap space remaining. Here’s a look at the individual salary cap hits for each player in 2024.