Eagles’ salary cap situation is looking very strong moving in 2021, 2022 seasons

[time2rock]

EAGLES

 

 

Eagles’ salary cap situation is looking very strong moving in 2021, 2022 seasons

 By Eliot Shorr-Parks

4 hours ago

 

When the Eagles signed defensive end Ryan Kerrigan this week the move was met with one question — with what money?

After starting the 2021 offseason in a $60 million hole, the Eagles dug their way out of it prior to start of the new league year, and then proceeded to add three quality players in Anthony Harris, Eric Wilson and now Kerrigan.

The Eagles were able to clear cap space, and create space to sign players, by making a flurry of moves that involved essentially borrowing money from future years and putting dummy years on contracts to spread out cap hits.

So where do they stand now? And how much did they borrow from the future?

Here is an updated look at the Eagles’ salary cap situation:

Currently: The Eagles, according to OverTheCap.com, currently have $4.3 million in salary cap space. A chunk of that will soon be gone, however.

Kerrigan's deal with the Eagles, per an ESPN report, will count $1.36 million against the cap this season. That brings the Eagles down to (roughly) $3 million. The Eagles will also need to sign their 2021 rookie class, which should take up a decent chunk of the remaining $3 million.

The good news is the Eagles have more cap space coming in once June 1st hits.

June 1st: A big cap-space day is coming up in the NFL as on June 1st the salary-cap hits for releasing players drop. That is going to be especially beneficial for the Eagles, who have three big-name players that will come off the books.

The first two players, who really have already been released but remain on the cap, are Alshon Jeffery and Malik Jackson. The Eagles will open up around $2 million for each player, totaling $4 million.

There is also the Zach Ertz move that is eventually coming. At the beginning of the offseason the idea of the Eagles holding onto Ertz until June 1st seemed crazy, but with that date now less than two weeks away, it seems likely he will be on the roster come June 1st. If he is, and the Eagles then release or trade him, they will open up around $8.5 million in cap space.

Add that $8.5 million to the $4 million saved with Jeffery/Jackson, and the Eagles will soon be opening up around $12.5 million.

It remains to be seen how much of the initial $4.3 million will be left over, but if you add that into the new cap space, the Eagles could have around $16.8 on-or-around June 1st.

The Eagles entering the 2021 season with around $10 million (at least) in salary cap space gives them enough room to make a trade or signing should they need to before the start of the season -- including cornerback Steven Nelson.

 

2022 Cap Space: Of course, to get out of that $60 million hole the Eagles were in, they had to push money into future years. As a result, according to OverTheCap.com, the team now has $14.8 million in projected cap space for the 2022 offseason — a much lower number than they once had.

The good news for the Eagles is that they have some options to open up space.

Chances are that next offseason something happens with Fletcher Cox, whether it be a new deal or the team moving on from him. Cox is currently set to have a $23.7 million cap hit in 2022. They can clear $10.6 million by cutting or trading, and if they wait until June 1st (or designate him a June 1st cut) that number jumps to $17.1 million. There is also the possibility the Eagles redo his deal, which would significantly lower his $23.7 million hit. Either way, his cap hit is likely going to be coming down.

The other move the Eagles could make to open up space involves Brandon Brooks. What the Eagles do with Brooks will likely depend on a ton on his 2021 season. If he remains healthy and returns to an All-Pro level, he’ll be back in 2022. If he doesn’t, then he will almost certainly be gone.

Brooks currently has a cap hit of $19.4 million for 2022, one of the highest on the team. Cutting Brooks only clears $3.7 million, and leaves $15.7 million in dead cap — so that isn’t likely. A post-June 1st cut, however, saves $13.5 million. That is a real possibility if Brooks struggles in 2021.

If the Eagles decide to maximize their cap savings, and post-June 1st cut both Cox and Brooks, that would save $30.6 million.

Add in the $14.8 million they currently are projected to have and that would be $45.4 million in cap space. It is also very likely the Eagles will roll over cap space from 2021, likely around $10 million — which would bring the number up to $54.4 million.

Needless to say, $54.4 million would give the Eagles enough to do whatever they wanted next offseason, including resigning some of their own key players set to become free agents — like Anthony Harris, Eric Wilson, Dallas Goedert, Josh Sweat and Derek Barnett.

 

2023 Cap Space: Although they should have enough money to do whatever they want in 2022 without borrowing from the future, looking ahead, the Eagles are projected to have $93.7 million in 2023.

Obviously, that is a ton of cap space, and that number will be changing. The Eagles will sign players, they will extend players, they will redo deals. Plus, the team will presumably be paying a quarterback at some point, whether it be Jalen Hurts or trading for one. That $93.7 million will likely be cut in half — which will still leave the team will all the money it needs to do pretty much whatever it wants.

The bottom line is that, although things are a bit tight now, the Eagles’ salary cap situation is looking very strong moving forward, and it should allow them to accelerate the rebuild they started this offseason.

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[time2rock]

I'm guessing ESP meant 2022 and 2023 in the title?  

[Madriver]

52 minutes ago, time2rock said:

I'm guessing ESP meant 2022 and 2023 in the title?  

That's what I thought too.

BTW thank you so much for posting in 411. It's an absolute graveyard around here without these media tidbits. Bless you.

[jsb235]

The article fails to mention that they could save a ton on Slay's salary as well.

Whether Hurts is the qb moving forward or they draft one next year, the luxury of not having to pay a qb $40 million a year for the foreseeable future makes the cap almost irrelevant.

[Guest]

Sure, 54.4 million in potential 2022 cap space sounds great, but lets look at the whole scenario.

OTC currently shows we have 46 players under contract for 2022, but that is not true, McLeod, Harris, Wilson and Flacco have dummy years, so only 42 players are under contract.  Then you are removing arguably your best offensive and defensive players in Cox and Brooks, and Ertz is gone, so you have 54.4 million with 39 players under contract.

You then add the second year cap hits if all 9 rookies stick and make the team, deduct 13.08 million, and you have 41 million with 48 players under contract.  Sure that sounds great, but you are not trying to add a premier FA or two to a team ready to make a deep playoff run.  You are adding to a team that has a bottom 3rd of the roster that looks like

There is also going to be an approximately 10 million cap hit for the three first rounders next year if it works out that way.

So realistically, you are weakening the team, and have 31 million in cap room after you sign the three first round picks next year.

 

It is not near as rosie as you guys are being lead to believe.

[PoconoDon]

Cap situation is improving as expensive Vets are let go and dead money is reduced.

Spoiler

 

[Fanfrommd]

Did he account for the money coming off the books for Carson Wentz in 2022?

 

 

[Guest]

18 minutes ago, Fanfrommd said:

Did he account for the money coming off the books for Carson Wentz in 2022?

 

 

This question means you should sit out the conversation 

[jsb235]

On 5/20/2021 at 2:02 PM, downundermike said:

You are adding to a team that has a bottom 3rd of the roster that looks like

 

This is just wrong. The bottom third of the roster won't be these guys next year because only one or two will make the team this year.

The list also doesn't include our draft picks from this year, the ones from next year or the restricted free agents, or about 30 guys, many of whom will make the roster this year.

Maybe criticizing others when you lack a basic understanding of salary cap issues yourself isn't a great idea.

[Guest]

20 hours ago, jsb235 said:

This is just wrong. The bottom third of the roster won't be these guys next year because only one or two will make the team this year.

The list also doesn't include our draft picks from this year, the ones from next year or the restricted free agents, or about 30 guys, many of whom will make the roster this year.

Maybe criticizing others when you lack a basic understanding of salary cap issues yourself isn't a great idea.

If you read my previous post's, the list does include the players who were drafted this year.

So taking away the draft picks, who are these other 30 guys and how are we going to afford to sigh them ??

[jsb235]

4 minutes ago, downundermike said:

If you read my previous post's, the list does include the players who were drafted this year.

So taking away the draft picks, who are these other 30 guys and how are we going to afford to sigh them ??

I mean, if you don't know what a restricted free agent is, are you really qualified to be taking part in this discussion?

[Fanfrommd]

On 5/23/2021 at 12:49 PM, downundermike said:

This question means you should sit out the conversation 

I skimmed the story and didn't see it in there ass.

[eggs]

On 5/20/2021 at 6:10 PM, PoconoDon said:

Cap situation is improving as expensive Vets are let go and dead money is reduced.

  Reveal hidden contents

And we have more younger players fro the draft