Browns Restructure QB Deshaun Watson’s Contract

It is that time of year again. The Browns are stuck with Deshaun Watson‘s albatross contract, and as expected, they are restructuring it once again.

This could be the final such transaction, as the contract expires after the 2026 season. The Browns are converting most of Watson’s base salary into a signing bonus, according to cleveland.com’s Mary Kay Cabot. This move would stand to, once again, bring the quarterback’s salary to the veteran minimum and max out the restructure-driven cap space allowed.

The team’s latest restructure will save $36MM in cap space, per Cabot. The Browns gave Watson a fully guaranteed $230MM back in 2022, acquiring him from the Texans in what almost certainly is the worst trade in NFL history (given the contractual ramifications and draft capital exchanged). This marks Cleveland’s fourth restructure on the five-year deal, which is set to bring astonishing dead money in 2027.

If the Browns had a realistic out on the deal this year, they assuredly would take it. But they do not. If Cleveland were to designate Watson as a post-June 1 cut this year, $131.16MM would be spread over two offseasons. Despite the quarterback not coming remotely close to living up to the trade/extension, he will stay on the roster for 2026. In 2027, though, the bill is coming.

The remaining cap charges will be moved to void years from 2027-29, Cabot adds. Watson, 30, is technically part of Cleveland’s latest quarterback competition this offseason. Coming off two Achilles tears, Watson will vie for the job against Shedeur Sanders, Dillon Gabriel and perhaps a QB to be named later. Considering how poorly Watson played before his first Achilles tear in 2024, it would surprise if he won the job. But Todd Monken is installing a new offense, and Sanders — his Pro Bowl alternate invite notwithstanding — did not exactly seize the job last season.

This season will be Watson’s last in Cleveland. Jimmy Haslam admitted the trade was a mistake last year, before Watson spent the season on the reserve/PUP list. In 2027, however, Watson’s exit will bring an $86.2MM dead money bill. The Browns have structured the contract to create a post-June 1 release scenario in 2027, according to OverTheCap’s Jason Fitzgerald. Watson’s cap hit will drop from $80.72MM to $44.96MM, per OverTheCap. The team now holds just less than $19MM in cap space.

That is an important note, as Watson’s dead money will be spread over two offseasons. In the likely post-June 1 release scenario, Fitzgerald notes Watson would count $34.67MM against Cleveland’s 2027 cap and $51.54MM in 2028. While this will help the Browns avoid the worst single-year dead money hit in NFL history, it also means the team will have to live with the deal on its books for an extra year. By the end of this saga, Cleveland will have carried this contract on its payroll for seven years.

The Browns kept GM Andrew Berry employed despite the veteran exec being in place for the Watson trade. Cleveland changed coaching staffs, and Monken will be aboard for the worst chapter of the contract — as the Browns will be carrying considerable dead money in 2027 and ’28.