Eagles restructure Jake Elliott’s deal to save salary cap space; report
With free agency set to begin next week, the Eagles have reportedly cleared some cap space by restructuring Jake Elliotts contract.
The Eagles will save just under $2.5 million with the move, NFL Networks Tom Pelissero reported.
Elliott, 28, was set to have a cap hit of over $5.8 million in 2023, but just under $4 million of that was base salary. So the obvious way to restructure the kickers deal to save cap space was to pay out most of that $4 million (up until the minimum base salary) in a bonus that prorates over the length of the contract for cap purposes.
This is a common move the Eagles use quite often. Its a kick-the-can method but it works as long as the salary cap continues to rise. And aside from a year where there was a global pandemic, that happens every year.
The other two obvious restructures that could be coming are for Darius Slay and Lane Johnson, who have the highest cap figures and highest base salaries on the team. Restructuring those two deals could save the Eagles over $20 million in cap space.
But the Elliott restructure was another obvious one.
Before this move, the Eagles were projected to have just over $4 million in cap space, according to OverTheCap. The new league year will begin next Wednesday at 4 p.m.
The Eagles arent expected to be major players in free agency this offseason with so many of their own players about to hit the market. But theyd probably like to keep at least a couple of their own.
Subscribe to the Eagle Eye podcast
Apple Podcasts | Google Play | Spotify | Stitcher | Art19 | Watch on YouTube
