Eagles re-work two contracts to create cap space: report

[time2rock]

Eagles re-work two contracts to create cap space: report

 

 

 

Reuben Frank

EAGLES INSIDER

Going into business Thursday, the Eagles ranked last in the NFL in available cap space.

Lane Johnson and Jake Elliott to the rescue. 

Johnson and Elliott have agreed to contract restructures to allow the Eagles to carve out desperately needed cap space, according to ESPN’s Field Yates.

As of Wednesday, the Eagles had just $1,222,942 available under their adjusted 2022 cap figure of $226,890,095, according to OverTheCap. They also had an open spot on the 53-man roster.

According to Yates, the Eagles converted large chunks of Johnson and Elliott’s 2022 base salary into signing bonuses, creating about $6.9 million in cap space.

After the restructures, the Eagles had $8,098,942 million available under the cap, according to OverTheCap's database.

That would place the actual amount of cap space created at $6.876 million.

Yates tweeted that the Eagles converted $5.88 million of Johnson‘s base salary and $2.715 million of Elliott’s salary into bonuses.

Because base salaries count entirely under the current year’s cap and signing bonuses are spread out over the life of a contract, converting base salary to bonus money creates immediate cap space while increasing future years’ cap responsibilities.

Players need to agree to have their contracts restructured, but there’s no reason for them not to, since they’re ultimately earning the same amount of money, they’re just getting a large chunk of it immediately instead of spread out over the next 18 weeks.

Before the salary tweaks, Johnson had a base salary of $7 million this year and Elliott had a base salary of $3.75 million.

According to OverTheCap, after the restructures, the Eagles have the 10th-most salary cap space in the NFL.

https://www.nbcsports.com/philadelphia/eagles/eagles-re-work-lane-johnson-jake-elliott-contracts-create-cap-space-report

[time2rock]

[eggs]

2 hours ago, time2rock said:

Perfect graphic. 
 

Why are we always in this position?  We are now in the top 10 youngest teams. We should be getting out of dead cap hell.

[time2rock]

1 hour ago, eggs said:

Perfect graphic. 
 

Why are we always in this position?  We are now in the top 10 youngest teams. We should be getting out of dead cap hell.

Howie is always trying to toe the line between competing now and building for the future.  He does whatever he can to avoid those stretches of down years that other teams go through when they come to the realization that they aren’t going to win with their current roster (even if immediately after finding success) and decide to just blow it up dealing their top players to shed salary and acquire picks.  After we fired Doug and dealt Wentz he could have made the decision to unload some of our top players then but didn’t.  Rather he unloaded some of the dead weight (like Alshon Jeffery) and started wheeling and dealing to collect more picks (hence starting this past offseason with three 1st rd picks).  But also restructuring contracts … basically borrowing from future years to create cap space now … to give us flexibility to sign players like Reddick and deal for/extend players like Brown.  Time will tell if it leads to another championship.  I tend to think (but admit am not completely sold on my own thought process) that trying to do both (compete now and building for the future) just dilutes your ability to become strong enough to be a champ.  We shall see. 

[Perforator]

13 hours ago, eggs said:

Why are we always in this position? 

Teflon Don is a cap genius.