Teams continue to be aggressive in creating cap space ahead of Wednesday’s start to the 2023 league year, when franchises must be in compliance with the new $224.8MM salary cap. Here are the latest moves teams made to get there:
- Reasonable Chargers activity in free agency should be expected. The team that began the week well over the cap has now created more than $40MM in space over the past couple of days. Following the moves to restructure Keenan Allen and Mike Williams‘ contracts, Field Yates of ESPN.com tweets the team created $25.99MM by tweaking Joey Bosa and Khalil Mack‘s deals. Mack’s 2023 cap number drops by $10.8MM, while OverTheCap’s Jason Fitzgerald adds Bosa’s drops by $15.2MM. Bosa’s 2024 number ballooned to $36.6MM because of the move. That will, then, necessitate more maneuvering down the line. The Bosa, Mack, Allen and Williams moves have created a total of $40.37MM in space, Lindsey Thiry of ESPN.com tweets. They are now more than $19MM under the cap.
- In completing four restructures, the Buccaneers have now created more than $44MM in cap space. They redid the deals of Vita Vea, Chris Godwin, Ryan Jensen and Carlton Davis, Rick Stroud of the Tampa Bay Times reports. The Bucs have moved to being barely $5MM over the cap, after beginning March at nearly $60MM north of the salary ceiling. Cuts of Leonard Fournette, Cameron Brate and Donovan Smith have helped the team along the way as well. That said, Fournette and Brate cannot be released until after the start of the league year, Greg Auman of Fox Sports notes (on Twitter). The Bucs being unable to realize those savings until after 3pm Wednesday will force them to find a few other ways to create that space.
- The Jets adjusted the deals of Laken Tomlinson, D.J. Reed and Tyler Conklin — all free agency additions from 2022 — to create $15.2MM in cap space, Yates tweets. Still working to land Aaron Rodgers, the Jets are now $11.5MM under the cap.
- The Raiders are among the leaders in cap space, but Yates tweets they adjusted Maxx Crosby‘s deal to create $7.5MM in additional funds. Las Vegas holds more than $43MM in cap space, sitting third overall ahead of free agency.
- Bills defensive tackle Tim Settle agreed to a $600K pay cut for 2023, Yates adds (on Twitter). The 2022 free agency addition still has $2.1MM in guaranteed money for 2023, with the Buffalo News’ Ryan O’Halloran adding Settle can earn up to $4.41MM this year via incentives. The Bills are moving closer to the deadline with a lot of work left ahead; they are more than $19MM over the cap.
- The Vikings and swing backup O-lineman Chris Reed agreed to a renegotiated deal that trims his cap number by around $1MM, per Yates. Minnesota still has work to do ahead of the cap-compliance deadline, sitting more than $7MM over the cap.