J.J. Watt has agreed to restructure the contract extension he signed last year, converting his $10MM roster bonus for 2015 into a signing bonus, according to Field Yates of ESPN.com (via Twitter). The move creates $8MM in cap space for the Texans this season.
Watt’s $10MM roster bonus had been due to be paid today — if it had gone unchanged, the entire amount would have counted toward Houston’s 2015 cap. Instead, only $2MM will go on the books this year, with $2MM added to the cap for each of the next four seasons as well. Watt, who still receives that full $10MM amount up front, will now have a $13.969MM cap number for 2015, down from $21.969MM.
While the Texans don’t necessarily have any more major free agent investments on the horizon for this year, the added flexibility gives the team a little breathing room to accommodate spring or summer additions, and to sign this year’s draft class.
According to Aaron Wilson of the Baltimore Sun (via Twitter), Watt and the Texans completed the move four days ago.