Minor NFL Transactions: 3/12/21
We’ll keep track of today’s minor moves here:
Atlanta Falcons
- Re-signed: TE Jaeden Graham
Green Bay Packers
- Waived: FB John Lovett
Jacksonville Jaguars
- Re-signed: OL Tyler Shatley
Los Angeles Chargers
- Released: LB Malik Jefferson
New York Giants
- Re-signed: WR C.J. Board
Giants Optimistic About Nate Solder Return
The Giants cut Kevin Zeitler this week, and many people have been expecting another big name offensive lineman to follow him out the door. However, it sounds like veteran offensive tackle Nate Solder might be spared amidst the cap casualty onslaught.
There is now optimism within the organization that Solder will play for the Giants in 2021, a source told Dan Duggan of The Athletic (Twitter link). Duggan notes that the sides are “still working out the terms,” so it sounds like Solder’s contract is going to be restructured. In all likelihood, that means Solder will be taking a pay-cut.
He had been scheduled to carry a $16.5MM cap hit for this season. New York has been needing to clear space in order to bring back guys like defensive linemen Leonard Williams and Dalvin Tomlinson, and many pointed to a Solder cut as an obvious way to save money.
The Giants are indeed talking “restructured numbers” with Solder, Ryan Dunleavy of the New York Post confirmed in a tweet. A source told Dunleavy that it never reached that point with Zeitler, meaning Zeitler was a goner from the beginning despite some speculation that he could restructure as well.
New York signed Solder to a massive four-year, $62MM deal in 2018, and he’s been a pretty big disappointment for that hefty contract. They almost traded him in 2019, but nothing got done. He opted out of the 2020 season due to COVID-19, so he still has two more years left on that deal. He confirmed in February that he’s planning on returning for the 2021 season.
Contract Restructures: Panthers, Cowboys, Giants, Saints, Eagles, Steelers
It’s that time of year when teams are frantically maneuvering ahead of free agency. Due to the cap falling because of COVID-19, things are even more hectic than ever. We’ve seen a whole bunch of contract restructures come in, and there will be a whole lot more. Let’s catch you up on the latest batch and their financial implications:
- The Panthers restructured Christian McCaffrey‘s contract recently, Mike Garafolo of NFL Network tweets. They converted $7MM of his $8MM base salary into a signing bonus, which freed up about $5.6MM in cap space for 2021. Almost a year ago McCaffrey signed his record-breaking extension that has him locked up through the 2025 season.
- The Cowboys have had a busy week with Dak Prescott‘s massive extension now in the books, and they made a trio of moves to help clear some space. Dallas restructured the deals of Zack Martin, Tyron Smith, and La’el Collins, a source told Todd Archer of ESPN.com. The reworking of the three offensive linemen’s contracts cleared up about $17MM in cap space for Jerry Jones. As Archer notes, these moves have now gotten Dallas under the cap for 2021.
- The Giants just cut top offensive lineman Kevin Zeitler as they look to clear cap space to keep guys like defensive linemen Leonard Williams and Dalvin Tomlinson. The Zeitler release isn’t the only shuffling they’re doing, as they also restructured the contract of tight end Levine Toilolo, and Jordan Raanan of ESPN.com tweeted the details. Rather than a procedural restructure like you see with star players, Toilolo actually took a pay-cut to stay with the team. He had been scheduled to make $2.95MM this year but agreed to reduce that to $1.6MM, saving the Giants north of $1MM against the cap.
- We’ve got four other restructures to pass along, courtesy of this tweet from Ian Rapoport of NFL Network. The Saints restructured the deals of safety Malcolm Jenkins to save $3.4MM and offensive lineman Andrus Peat to save $6MM. New Orleans has the worst cap situation in the league, and they desperately needed moves like this to do things like franchise tag safety Marcus Williams.
- The Eagles saved $2.4MM by reworking the deal of offensive lineman Isaac Seumalo. Philly is right up there with New Orleans in terms of bad cap situations, so GM Howie Roseman is likely far from done here.
- The Steelers saved $880K by adjusting fullback Derek Watt‘s contract. Not exactly front page news here, but it should shore up Watt’s spot on the 2021 roster. T.J. and J.J.’s brother signed a three-year, $9.75MM pact last offseason.
Giants Release Kevin Zeitler
The Giants just made a big move. New York has released guard Kevin Zeitler, the team announced on Wednesday. Zeitler becomes the latest in a string of high profile cap casualties this past week.
The move will clear about $9.6MM in cap space the Giants needed if they wanted to retain guys like defensive linemen Leonard Williams and Dalvin Tomlinson. We heard last week that New York was shopping Zeitler, but teams were expecting him to get cut so no one was willing to offer anything. That being said, now that he doesn’t come with the hefty contract, there will be plenty of interest.
Zeitler certainly hasn’t played poorly, the Giants could just no longer justify the cap charge. Some people were skeptical the team would actually cut their best O-lineman with Daniel Jones heading into a make or break year, but these are the kinds of decisions necessitated by the league-wide cap crunch.
Zeitler had been set to make a salary of $12MM, and while he won’t get that, he’ll get some significant guaranteed money on the open market. The 27th overall pick of the 2012 draft spent his first five years with the Bengals before signing a five-year, $60MM pact with the Browns in 2017.
That deal made him the highest-paid guard in the league at the time. He was then traded to New York in March of 2019 as part of the blockbuster Odell Beckham Jr. trade. He’s never made a Pro Bowl or All-Pro team, but has nonetheless always been a solid starter.
He’s also been reliable, starting at least 15 games in each of the past six seasons, and he’s never played less than 12. With Zeitler off the roster, Shane Lemieux and Will Hernandez now project as the Giants’ two starting guards for 2021.
NFL’s Fifth-Year Option Salaries For 2021
The NFL’s 2021 salary cap has been set at $182.5MM, marking the league’s first reduction in a decade. With that, the league has also ironed out the value of this year’s fifth-round option for 2018 first-round picks.
Here’s the full rundown, via NFL.com’s Tom Pelissero (on Twitter):
1. Baker Mayfield, Browns, QB — $18.858MM (playing time)
2. Saquon Barkley, Giants, RB — $7.217MM (1x Pro Bowl)
3. Sam Darnold, Jets, QB — $18.858MM (playing time)
4. Denzel Ward, Browns, CB — $13.294MM (1x Pro Bowl)
5. Bradley Chubb, Broncos, LB — $12.716MM (1x Pro Bowl)
6. Quenton Nelson, Colts, G — $13.754MM (2x Pro Bowl)
7. Josh Allen, Bills, QB — $23.106MM (1x Pro Bowl)
8. Roquan Smith, Bears, LB — $9.735MM (playing time)
9. Mike McGlinchey, 49ers, OT — $10.88MM (playing time)
10. Josh Rosen, Cardinals, QB*
11. Minkah Fitzpatrick, Steelers, S (drafted by Dolphins) — $10.612MM (2x Pro Bowl)
12. Vita Vea, Buccaneers, DT — $7.638MM
13. Daron Payne, Washington, DT — $8.529MM (playing time)
14. Marcus Davenport, Saints, DE — $9.553MM
15. Kolton Miller, Raiders, OT — $10.88MM (playing time)
16. Tremaine Edmunds, Bills, LB — $12.716MM (1x Pro Bowl)
17. Derwin James, Chargers, S — $9.052MM (1x Pro Bowl)
18. Jaire Alexander, Packers, CB — $13.294MM (1x Pro Bowl)
19. Leighton Vander Esch, Cowboys, LB — $9.145MM
20. Frank Ragnow, Lions, C — $12.657MM (1x Pro Bowl)
21. Billy Price, Bengals, C — $10.413MM
22. Rashaan Evans, Titans, LB — $9.735MM (playing time)
23. Isaiah Wynn, Patriots, OT — $10.413MM
24. D.J. Moore, Panthers, WR — $11.116MM (playing time)
25. Hayden Hurst, Falcons, TE (Drafted by Ravens) — $5.428MM
26. Calvin Ridley, Falcons, WR — $11.116MM (playing time)
27. Rashaad Penny, Seahawks, RB — $4.523MM
28., Steelers, S Terrell Edmunds — $6.753MM (playing time)
29. Taven Bryan, Jaguars, DT — $7.638MM
30. Mike Hughes, Vikings, CB — $12.643MM
31. Sony Michel, Patriots, RB — $4.523MM
32. Lamar Jackson, Ravens, QB — $23.106MM (1x Pro Bowl)
* Rosen was released from his original contract and, therefore, is not option-eligible
As a refresher, the fifth-year option year is now fully guaranteed. In the past, it was guaranteed for injury only. The values are also dependent on certain performance metrics:
- Two-time Pro Bowlers (excluding alternate Pro Bowlers) will earn the same as their position’s franchise tag.
- One-time Pro Bowlers will earn the equivalent of the transition tag.
- Players who achieve any of the following will get the average of the 3rd-20th highest salaries at their position:
- 75%+ snaps in two of their first three seasons
- 75%+ average across all three seasons
- 50%+ in each of first three seasons
- Players who do not hit any of those benchmarks will get the average of the 3rd-25th top salaries at their position.
NFL Sets $182.5MM Salary Cap
The NFL salary cap has been set at $182.5MM, according to Tom Pelissero of NFL.com (on Twitter). This marks a sizable (though expected) drop from last year’s $198.2MM limit.
Teams will not be allowed to borrow cap room from future years, per the CBA, so teams are basically stuck with the hard cap and difficult choices ahead. However, teams do have other ways to navigate the cap, including rollover from 2020, post-June 1 cuts, and contract restructuring.
With the new salary cap, the league has also determined the values of this year’s franchise tag tenders (Twitter link):
- Quarterback $25.104MM
- Running Back $8.655MM
- Tight End $9.601MM
- Offensive Lineman $13.754MM
- Defensive End $16.069MM
- Defensive Tackle $13.888M
- Linebacker $14.791M
- Cornerback $15.06MM
- Kicker/Punter $4.482MM
Here’s the full rundown of this year’s franchise tags, including players on repeat tags who receive a 20% increase:
- Giants DL Leonard Williams $19.35MM
- Washington G Brandon Scherff $18.03MM
- Bears WR Allen Robinson $18MM
- Buccaneers WR Chris Godwin $15.98MM
- Jaguars OT Cam Robinson $13.75MM
- Panthers OT Taylor Moton $13.75MM
- Broncos S Justin Simmons $13.73MM
- Jets S Marcus Maye $10.61MM
- Saints S Marcus Williams $10.61MM
Giants Undecided On Saquon Barkley’s Fifth-Year Option
When healthy, Saquon Barkley is one of the NFL’s premier skill-position players. But the former No. 2 overall pick is coming off a season in which he suffered a torn ACL in Week 2. The Giants are factoring that into a key decision.
GM Dave Gettleman, who bypassed the team’s need for an Eli Manning successor by taking Barkley over the likes of Sam Darnold and Josh Allen three years ago, indicated team brass had yet to come to a final decision on the running back’s fifth-year option.
“I think [his health] part of the discussion,” Gettleman said, via SNY. “Obviously we’re gonna have to make a decision this spring whether we pick up his fifth-year option. But certainly, it’s unknown, and what you have to do is get your trainer and your doctors involved.”
Barkley’s draft class will be the first group of first-rounders eligible for fully guaranteed fifth-year options, which the new CBA mandates. Previous classes eligible for the option had their fifth-year salaries guaranteed for injury only, which allowed teams to cut bait ahead of Year 5 as long as the player passed a physical. That will not be an option going forward; the Giants have until May 3 to exercise Barkley’s option.
Barkley delivered historic rookie-year production in 2018 but suffered a high ankle sprain in 2019 and missed 14 games last season. While he is progressing well from the torn ACL, the Penn State product’s outlook is a bit less certain than it once was. New York not picking up Barkley’s option would make 2021 a contract year for Barkley. The team picked up Evan Engram‘s non-guaranteed option last year, and Engram has battled nagging injuries for much of his run. That points to the Giants picking up Barkley’s.
The option price is not yet known, since the new CBA introduced a multitiered setup that will involve to-be-determined franchise and transition tag costs. Barkley having made one Pro Bowl would make his option price equal to that of the running back transition tag. Kenyan Drake‘s transition tag came in at $8.5MM last year; anything in that neighborhood would be a bargain for the Giants, even with Barkley’s ACL rehab clouding his outlook slightly.
Giants To Tag Leonard Williams
The Giants are expected to assign the franchise tag to Leonard Williams (Twitter link via NFL.com’s Ian Rapoport). This marks the second straight tag for the defensive lineman, though the two sides intend to continue discussions on a multi-year deal. 
Per the collective bargaining agreement, Williams will earn a 20% raise on his 2020 tag. Last year, his tag was worth just over $16MM. This year, the tender would amount to $19.351MM.
The Giants’ decision to tag Williams was widely panned last year. Williams responded with a career-high 11.5 sacks, vindicating GM Dave Gettleman in the process. No one knew what to expect from Williams, but after setting a new watermark for sacks plus 14 total tackles for loss and 30 quarterback hits, he would have profiled as one of the most prized players in free agency.
Williams is said to be seeking a ~$20MM/year deal. That’s the figure he wanted last year and, this time around, it sounds like he’ll get what he wants. For his career, the Jets’ former No. 6 overall pick has 48 tackles for loss and 131 quarterback hits across six seasons. He also has 29 career sacks. Much to the Jets’ chagrin, he’s logged more than 30% of those for the Meadowlands’ other tenant.
Latest On Giants, Leonard Williams
Unless the NFL moves the franchise tag deadline back, the Giants have less than 24 hours to use their tag on Leonard Williams. Multiple issues could stand in the way of that taking place. While the Giants would be taking a risk if they do not tag the standout interior defender, they have less than $10MM in cap space. The Giants want to keep Williams around long-term, Paul Schwartz of the New York Post writes, but they will have a tough time tagging him at $19.4MM. A counterargument would be that the Giants should tag Williams as a precaution, rather than risk losing him next week, and worry about cap issues between Tuesday and the March 17 start of the new league year. The sides were not believed to be close to a long-term deal last year. If the Giants pass on a tag, they will be entering a crucial stretch ahead of the March 15 legal tampering period. They also have defensive tackle Dalvin Tomlinson as a UFA-to-be.
However, the other part of this equation could cause the Giants to pay even more for a Williams tag. His grievance to be tagged as a defensive end is unresolved, per Jeremy Fowler of ESPN.com (on Twitter). Should Williams win that grievance, his 2020 salary will balloon from $16.1MM (last year’s defensive tackle tag rate) to $17.8MM. That would bump his 2021 tag price to $21.4MM. Williams played more snaps as an inside defender in 2019, which would point to “defensive tackle” being the correct label for tag purposes. With the Giants up against the cap, this is not an insignificant difference.
- The Giants did do a little work on their cap situation Monday. They restructured tight end Levine Toilolo‘s contract, Ian Rapoport of NFL.com tweets. The blocking tight end was set to earn $2.95MM next season. He will be back at a lower rate, with Schwartz estimating the Giants will save more than $1MM by making this move.
- Recently dismissed from his post as Lions VP of player personnel, Kyle O’Brien will join the Giants’ front office. The Giants are adding O’Brien as a senior personnel executive, the team announced. O’Brien spent the past few years in Detroit under Bob Quinn, but the bulk of his experience came in New England.
Minor NFL Transactions: 3/8/21
Today’s minor moves:
Atlanta Falcons
- Signed: P Dom Maggio
Las Vegas Raiders
- Re-signed: DB Dallin Leavitt
New York Giants
- Released: WR Cody Core
Tampa Bay Buccaneers
- Re-signed: DL Pat O’Connor