Most Creative Ways Every NFL Team Could Create More Salary-Cap Space After 2024 Draft
May 20, 2024Most Creative Ways Every NFL Team Could Create More Salary-Cap Space After 2024 Draft
The 2024 NFL draft may be over, but teams continue to work on improving their rosters for both the coming season and beyond. Free agency is still ongoing, but contract extensions have also been a focus as teams lock up players for the future.
Over the last few weeks, we've seen the likes of Amon-Ra St. Brown, A.J. Brown, Antoine Winfield Jr. and Jared Goff receive contract extensions. More long-term deals are likely to come through the transaction wire between now and the start of the regular season.
Throughout the 2024 offseason, B/R's Alex Ballentine (AFC) and Kris Knox (NFC) will provide updated analysis for all of the ways each team can improve ahead of the 2024 campaign.
Last week, they examined each team's biggest remaining needs following the draft. This week, they'll scrutinize the financial big picture and each team's cap situation, its most likely upcoming extensions and how it can go about generating more cap space.
First, though, let's run down the most frequent ways teams can expand their financial flexibility.
Common Methods of Generating Cap Space
Throughout this article, we'll reference several methods teams commonly used to generate additional cap space. We'll also be referencing cap space in relation to each team's top 51 contracts.
The "top 51 rule" is what the NFL uses for cap-compliance during the offseason, when rosters are expanded to 90 players instead of the regular-season 53-player limit. During the offeason, only the most expensive 51 cap hits are counted against the salary cap, which is $255.4 million this season.
The top 51 rule is relevant here because parting with a player's contract won't necessarily result in a full-value cap savings. For example, if a team removes a $6 million cap hit from the books, it will be replaced by the cost of the 52nd-highest cap hit on the roster for top 51 purposes.
This works both ways, as adding a contract will replace the 51st-highest cap hit, if the new deal is more costly. Adding a $2 million cap hit, for example, would only cost $1.5 million in cap space if the team's 51st-highest contract carries a $500,000 cap hit.
This is how teams can and often do add players during the offseason despite limited cap space. Teams often generate more space by using the following methods.
Trading or Releasing a Player
This is the most straightforward method of creating cap space, as it simply clears the non-guaranteed portion of a player's contract from the books. Any guarantees or bonus money that has already been paid will count, though.
When the Denver Broncos released Russell Wilson early this offseason, they still owed $85 million in guarantees, which resulted in $85 million in dead money. This is why he will count $53 million against the cap this season and $32 million against the cap next season despite already being cut.
Teams can also cut or trade a player after June 1, when dead money can be split over the next two seasons, provided the contract extended that long. The Broncos released the quarterback with a post-June 1 designation, which is why they didn't take the full $85 million cap hit in 2024 alone.
Denver didn't save 2024 cap space by releasing Wilson because his dead-money hit was higher than his initial cap hit, but teams using the post-June 1 designation often do.
Contract Extension
Teams that want to keep a player around but still save immediate cap space have options.
One option is by signing an "extension" that effectively erases the remaining year(s) on a current contract—an extension isn't automatically tacked onto the end of the current deal.
The New Orleans Saints did this by convincing Tyrann Mathieu to reduce his 2024 salary in exchange for a new two-year deal.
Teams can also convert base salary into bonus money that is then prorated over the length of an extended contract, which often include voidable years—contract years that automatically void at a specific date, leaving the cap hit but not team control over a player.
The Indianapolis Colts did this with their recent two-year extension with DeForest Buckner.
Indy converted most of his $20.3 million base salary into bonus money that was prorated over the final year of his contract, plus two voidable years after it expires. This generated roughly $14.3 million in 2024 cap space.
Restructuring
Teams can also restructure a contract—again, with or without voidable years—without actually extending a player's commitment to the franchise. This usually involves converting base salary or a roster bonus into a signing bonus that is then prorated over multiple years.
The Detroit Lions did this after acquiring Carlton Davis in a trade, with $6 million of his 2024 base salary converted into a signing bonus that will be spread over this season and three voidable years.
Davis is still only under contract through this season, but his 2024 cap hit was lowered from $14.3 million to $9.8 million.
Arizona Cardinals
Salary Cap Space: $27.8 Million
Upcoming Contract Extensions: S Budda Baker, RB James Conner, LB Zaven Collins
Ways to Create Cap Space
1. Extend or Release James Conner
2. Extend/Restructure Budda Baker's Contract
3. Trade Budda Baker
Top Options for 2024 and 2025
The Arizona Cardinals aren't in a dire cap situation right now, and with quarterback Kyler Murray locked up through 2028, they don't have a lot of tough financial decisions looming. They're projected to have $95.5 million in 2025 cap space.
A large chunk of Arizona's 2024 salary is tied up in Murray, safety Budda Baker and offensive tackle D.J. Humphries, who is no longer with the team. Baker, though, could be due an extension, along with running back James Conner and linebacker Zaven Collins.
Baker and Collins are impending 2025 free agents, while 2021 first-round pick Collins is entering the final year of his rookie deal. The Cardinals have declined the fifth-year option on Collins' contract but haven't dismissed the idea of keeping him long-term.
"We've had discussions with Zaven," general manager Monti Ossenfort told Arizona Sports' Burns and Gambo show (h/t Darren Urban of the Cardinals' official website). "We are extremely happy with where he is at and the versatility that Zaven brings to our defense."
If Collins isn't extended, Arizona could look to the draft or impending free agents like Elandon Roberts and Jerome Baker in 2025.
Conner has been a very good running back for the Cardinals, but the third-round selection of Trey Benson clouds his future in Arizona. It also gives the team a bit of leverage if it would prefer to extend the 29-year-old Conner at a friendlier price point.
Arizona could save $4.4 million by outright releasing Conner, though his recent production makes that an unattractive option. Converting part of his $4.2 million base salary into bonus money could, however, reduce his 2024 cap figure.
Benson is a serious candidate to replace Conner as the starter at some point over the next couple of years.
Baker's situation is the stickiest of the bunch. He requested a trade last offseason before receiving a slight pay increase for 2023 and 2024. He's a Pro Bowl safety, but extending him in the wake of Antoine Winfield Jr.'s record-setting extension, which leads all defensive backs with an annual value of just over $21 million, may be tricky.
Of course, converting some of Baker's $14.2 million base salary into bonus money could save cap money in the short term. If Arizona isn't confident it can do a long-term deal, or simply isn't willing to invest in a 28-year-old safety—trading him would be the extreme option. Doing so would save $15.1 million in 2024 cap space.
Rookie fourth-round pick Dadrion Taylor-Demerson is probably the top candidate to replace Baker now or in 2025, though next year's market will feature the likes of Jimmie Ward, Jabrill Peppers and Jevon Holland.
Atlanta Falcons
Salary Cap Space: $5.3 Million
Upcoming Contract Extensions: CB A.J. Terrell, TE Kyle Pitts, LB Lorenzo Carter
Ways to Create Cap Space
1. Extend or restructure Grady Jarrett's Contract
2. Extend A.J. Terrell
3. Restructure Jessie Bates III's Contract
Top Options for 2024 and 2025
The Atlanta Falcons aren't equipped with a ton of cap space right now, which is a problem for a couple of reasons.
For one, it's always good to have a little space available for any emergency signings that might be needed before or during the season. Secondly, the team has a few players it could consider extending now.
Standout cornerback A.J. Terrell is scheduled to be a free agent in 2025, as is linebacker Lorenzo Carter, who has appeared in all 17 games in each of the past two seasons.
Replacing Terrell in free agency would be much more difficult than replacing Carter, as top-end corners rarely become available. Tre'Davious White, Charvarius Ward, Carlton Davis and Rasul Douglas are scheduled to be free agents next offseason, though it would be a surprise if all of them reach the market.
Rookie linebackers Bralen Trice and JD Bertrand could both get chances to replace Carter if the Falcons choose not to extend him.
Tight end Kyle Pitts just became extension-eligible this offseason. While he hasn't done enough over the last two years to justify an early extension in the offseason, he was sensational as a rookie. A return to form with Kirk Cousins and/or Michael Penix Jr. at quarterback could convince Atlanta to lock him up during the season.
"If we can get this guy going, we all know what he could be," head coach Raheem Morris said, per D. Orlando Ledbetter of the Atlanta Journal-Constitution.
Simply extending Terrell now could benefit Atlanta, both immediately and in the long term. Set to play on his fifth-year option, the 2021 second-team All-Pro has a base salary of $12.3 million, some of which could be converted to bonus money via an extension.
The Falcons may not be ready to extend 31-year-old defensive tackle Grady Jarrett, who is signed through 2025 and is coming off a torn ACL. But restructuring his contract, which carries a $15.3 million base salary, could free up some valuable 2024 cash.
Atlanta could make a similar move with safety Jessie Bates III, who emerged as a Pro Bowl defender in his first year with the Falcons. The 27-year-old is signed through 2026 but has a $13 million base salary that could be converted to bonus money.
While Atlanta might consider adding void years to Jarrett's contract, Bates' deal already has a three-year window with which to spread any converted bonus.
Baltimore Ravens
Salary Cap Space: $6.3 million
Upcoming Contract Extensions: OT Ronnie Stanley, FB Patrick Ricard, CB Brandon Stephens
Ways to Create Cap Space
1. Restructure Marcus Williams' contract
2. Restructure Lamar Jackson's Contract
3. Trade Patrick Mekari
Top Options for 2024 and 2025
The Ravens had to navigate a tough salary-cap situation this offseason, and they did it while still managing to add some talent to the roster.
However, they might want to clear some more space. They are traditionally buyers on the last wave of free agency before training camp really gets underway, and they should be entering the season with the mindset of a Super Bowl contender.
In that vein, a few restructures that would push the salary-cap issue down the road would make sense to clear up immediate space. Marcus Williams is a prime candidate as he's set to count for $18.7 million against the cap, but $12 million of that is salary that could be converted into a bonus.
It provides the Ravens with the opportunity to keep the safety but add another edge-rusher to the defense before the season starts.
They can always borrow from the bank of Lamar Jackson's contract. There's $14.3 million of salary to play with, but it would make his cap hits even bigger in future years. He's on the book for a cap hit of $74.7 million in 2026 and 2027.
The bold choice out of the three would be trading away Patrick Mekari. The offensive lineman has been a valuable sixth man for the offensive line, slotting in at several positions and starting 36 games over the last five seasons.
However, Baltimore drafted Roger Rosengarten and have Daniel Faalele to compete with him. There's a lot of value in a player like Mekari, but his contract is expiring at the end of the season, and the Ravens could create $4.4 million in cap space by shipping him to another team.
Buffalo Bills
Salary Cap Space: $2.2 million
Upcoming Contract Extensions: OT Spencer Brown, CB Rasul Douglas, LB Nicholas Morrow
Ways to Create Cap Space
1. Release or Trade Von Miller (post June 1)
2. Restructure Matt Milano
3. Trade Kaiir Elam (post June 1)
Top Options for 2024 and 2025
Financially, the Bills ran out of all-in options this offseason. They were forced to part with some players who played pivotal roles on recent teams in an effort to reset their books for the future.
It leaves them with less breathing room than they are probably comfortable with to take care of various needs during the season.
There aren't a ton of levers for the Bills to pull, but there are two post-June 1 trade candidates who could create some cap space. Von Miller is the most significant. Parting with him would require eating $23.3 million in dead cap, but trading him after June 1 would offer the best cap savings return. They could clear $8.8 million.
Miller, 35, was no longer a starter for the Bills last season and didn't register a single sack. They would still have a solid three-man rotation with Greg Rousseau, A.J. Epenesa and Dawuane Smoot. There are still a few more vets on the market such as Yannick Ngakoue and Markus Golden who would be available for less than $8.8 million.
The other option is Kaiir Elam. A post-June 1 trade would only clear $2 million but every bit counts in the Bills situation. Elam missed most of last season with a foot injury and has struggled when he's been on the field.
If he doesn't show improvement in camp, he could be a trade candidate. He should hold some value as a former first-round pick.
The less drastic move that doesn't involve the Bills losing anyone is restructuring Matt Milano. They've already tacked on a void year to his current deal that will cost them $4.9 million in 2027.
By doing another restructure and potentially adding another void year, they could save an additional $2.4 million in space.
Carolina Panthers
Salary Cap Space: $4.3 Million
Upcoming Contract Extensions: WR Diontae Johnson, K Eddy Piniero, RB Chuba Hubbard
Ways to Create Cap Space
1. Extend/Restructure Diontae Johnson's Contract
2. Release or trade Terrace Marshall Jr.
3. Release Ian Thomas
Top Options for 2024 and 2025
After giving standout defensive tackle Derrick Brown a contract extension, the Carolina Panthers are left with few clear extension candidates.
Extension-eligible cornerback Jaycee Horn has played well when healthy but has struggled to stay on the field and isn't likely to get an early deal.
Running back Chuba Hubbard, arguably the best player from Carolina's 2021 draft class, will be a free agent in 2025 and may warrant an extension. However, rookie second-round pick Jonathon Brooks is poised to replace him as the lead back next year, if the Panthers move on.
Extending kicker Eddy Pineiro, who is entering the final year of his deal, could also make sense, though the 2025 market is set to include the likes of Nick Folk, Dustin Hopkins, Matt Prater and Michael Badgley.
The Panthers might also consider extending receiver Diontae Johnson after trading for the final year of his contract, though it would make sense to see how he fares with quarterback Bryce Young first.
The 2025 market is scheduled to include Tee Higgins, Keenan Allen and Amari Cooper among others, but if Johnson shines early in the season, Carolina could lock him up.
Even if the Panthers are done with extensions for the offseason, they'll likely need to generate cap space to add anything else to the roster.
Extending Johnson before seeing him play with Young would be risky, but converting some of his $7 million base salary into bonus money could provide cap relief.
Carolina could also simply move on from 2021 second-round pick Terrace Marshall Jr., who hasn't developed into a reliable target in Carolina.
Marshall is already buried behind Johnson, Adam Thielen and rookie first-round pick Xavier Legette. Moving him could create more opportunities for Jonathan Mingo, and Carolina could always look to add a free agent like Hunter Renfrow or Mecole Hardman.
Moving Marshall would only save $1.4 million in cap space, but that's something.
The Panthers might be able to trade Marshall because of his untapped potential, but tight end Ian Thomas is more of a cut candidate. He hasn't been consistently productive for the Panthers and releasing him would save $2.5 million.
If the Panthers could somehow convince a team to take Thomas, they could save $3.8 million.
Rookie Ja'Tavion Sanders is a logical candidate to take over Thomas' role, and experienced tight ends like Logan Thomas and Robert Tonyan Jr. remain unsigned.
Chicago Bears
Salary Cap Space: $22.9 Million
Upcoming Contract Extensions: G Teven Jenkins, RB Khalil Herbert, WR Keenan Allen
Ways to Create Cap Space
1. Extend Keenan Allen's Contract
2. Restructure Tremaine Edmunds' Contract
3. Release Travis Homer
Top Options for 2024 and 2025
The Chicago Bears already parted with cap casualties Eddie Jackson and Cody Whitehair, so even after adding a slew of new contributors, they aren't in a dire cap situation.
After locking up Jaylon Johnson, the Bears don't have many obvious extension candidates either.
Guard Teven Jenkins is probably Chicago's top priority. Injuries have been an issue since he was drafted in 2021, but he has settled in as a quality starting guard. The price of interior linemen is going up, and using the franchise tag in 2025 could be costly.
This year's tag value for offensive linemen was just under $21 million.
Extending Jenkins early could make sense, as he's just 26 years old, and the 2025 market will likely be headlined by older guards like Zack Martin and Kevin Zeitler.
Running back Khalil Herbert has become a solid offensive contributor and is set to be a free agent in 2025. Of course, the Bears just signed D'Andre Swift and have Roschon Johnson on the roster. Adding another back in the 2025 draft is a viable option.
Chicago will probably wait to see how Keenan Allen fares in 2024 with rookie quarterback Caleb Williams before considering an extension. Receivers like Tee Higgins and Amari Cooper are slated to be available in 2025, and the Bears have D.J. Moore and Rome Odunze to lead their receiver room.
If Allen is spectacular, though, signing him beyond this season would be entirely logical. It could also save cap space, as the final year of Allen's contract includes a base salary of $18.1 million.
If Chicago finds a need for extra cap space, it could consider restructuring the contract of linebacker Tremaine Edmunds. He has three years left on his deal, but converting some of his $14.9 million base salary into a bonus could save some space.
Given their cap situation, the Bears probably wouldn't consider this option unless another opportunity arises to acquire a premier player via trade this season. Chicago is slated to have $75.1 million in cap space next year.
Releasing running back Travis Homer could be a much cleaner route to a little more cap room. While Homer does provide special-teams value, he doesn't offer a lot offensively, and Chicago isn't short on running back options.
An undrafted rookie like Ian Wheeler or John Jackson III could probably replace Homer on special teams. Releasing him would save $1.9 million in cap space.
Cincinnati Bengals
Salary Cap Space: $23.5 million
Upcoming Contract Extensions: WR Tee Higgins, WR Ja'Marr Chase, DT B.J. Hill
Ways to Create Cap Space
1. Trade Tee Higgins
2. Trade Trey Hendrickson
3. Restructure Sam Hubbard's Contract
Top Options for 2024 and 2025
The Bengals have plenty of money for the 2024 season, but their cap picture is much less clear moving into the 2025 season and beyond.
The primary issue comes with their receiving room moving forward. Tee Higgins is set to play on the franchise tag this season, which is worth $21.8 million this season. Kelsey Conway of the Cincinnati Enquirer reported that Higgins wanted something in the neighborhood of the three-year, $70 million extension the Colts gave to Michael Pittman Jr. this offseason.
The problem for the Bengals is that Ja'Marr Chase will also be looking at an extension in 2025. His fifth-year option is worth $21.8 million, but his next contract is projected to be worth $30.2 million in annual average value. That projection is only likely to go up once Justin Jefferson gets a contract that will reset the market.
The obvious solution is to trade Higgins. Conway reported that the Bengals haven't even approached $20 million per year for their star wide receiver and they are going to have to pay Chase.
It would behoove Cincinnati to get ahead of the situation and trade Higgins now while it still has the opportunity to get a valuable return. It would also clear his entire $21.8 million cap hit.
That would give the Bengals the opportunity to have enough cap space to roll over to next season and use toward a new contract for Chase.
The Bengals drafted Jermaine Burton in the third round and could target a veteran free agent like Mecole Hardman to soften the blow of losing Higgins.
Higgins isn't the only one who has requested a trade. Trey Hendrickson has also voiced his displeasure with his contract situation. He walked back some of that publicly after participating in offseason workouts, but the fact remains that he's unsigned after 2025 after piling up 17.5 sacks last season.
Trading him away would create $12.3 million in space but create a hole in the roster that would be impossible to fill with the current free agents remaining at the position.
The other money-saving option among the defensive ends is to restructure Sam Hubbard's current deal. That would clear up to $6.1 million in space and adding a void year would spread the impact over multiple seasons.
Cleveland Browns
Salary Cap Space: $13 million
Upcoming Contract Extensions: WR Amari Cooper, OT Jedrick Wills, LB Jeremiah Owusu-Koramoah
Ways to Create Cap Space
1. Extend Amari Cooper
2. Trade Greg Newsome II
3. Restructure Deshaun Watson's contract
Top Options for 2024 and 2025
The Cleveland Browns have done some impressive cap work this offseason. They have managed to make some additions and sign a draft class without touching Deshaun Watson's massive contract.
They have plenty of room to get through in-season emergencies, but they are also in a situation where they can contend if the offense can at least be average with the quarterback.
Watson's contract is a cap source they haven't tapped into this season. They are set to absorb his $64 million cap hit this season but still have the ability to restructure the contract to push some of that money into future seasons.
Given his play to this point, it's not an incredibly ideal option because they are going to want to get as much money of the contract off the books if they want to move on when the deal runs out.
Trading Greg Newsome II remains the most interesting choice the Browns could pursue. The club exercised the fifth-year option on the young cornerback for 2025, but they also have Denzel Ward and Martin Emerson on the roster.
They would have to trust the younger players on the roster or sign a veteran like K'Waun Williams to man the slot.
The easiest choice might be extending Amari Cooper. They could stand to convert some of his $20 million salary owed in 2024 and spread it over future years in the form of a signing bonus.
Mary Kay Cabot of Cleveland.com reported in March the Browns were interested in extending the 29-year-old. It would create some immediate cap space and ensure they keep their leading receiver for a while.
Dallas Cowboys
Salary Cap Space: $1.9 Million
Upcoming Contract Extensions: QB Dak Prescott, WR CeeDee Lamb, Edge Micah Parsons
Ways to Create Cap Space
1. Extend Dak Prescott
2. Extend CeeDee Lamb
3. Release or Trade Brandin Cooks
Top Options for 2024 and 2025
The Dallas Cowboys are in a precarious cap situation, which limited them substantially in early free agency. They allowed several key contributors—including Tony Pollard, Tyron Smith, Tyler Biadasz, Dorance Armstrong and Dante Fowler Jr.—to depart while doing little to replace them.
The Cowboys are now counting on their rookies to contribute, and bringing in veteran insurance isn't much of an option without more cap flexibility.
Dallas is also facing three pressing contract situations. Quarterback Dak Prescott and wide receiver CeeDee Lamb are both scheduled to be free agents in 2025, while star pass-rusher Micah Parsons is extension-eligible.
The Cowboys might find a replacement receiver in 2025 free agency—players like Keenan Allen and Tee Higgins are set to hit the market—but replacing Prescott will be a challenge. While Jordan Love and Tua Tagovailoa are both scheduled to be 2025 free agents, the Cowboys can't expect either to become available.
If Prescott gets away, Dallas' top veteran options will likely include Russell Wilson, Jacoby Brissett and Justin Fields.
Tagging Prescott next offseason isn't an option because his contract prohibits it.
The time to extend him was before the start of free agency, and certainly before Jared Goff's four-year, $212 million extension hit the transaction wire. However, franchise owner Jerry Jones wasn't ready to flip the switch.
"If you've got trouble with when the timing is around here," Jones said in April, per ESPN's Todd Archer, "it's because I'm not ready to go."
According to Archer, the Cowboys could save roughly $18 million by restructuring the final year of Prescott's contract. However, he's already owed money through 2028 because of previous bonus restructures. If they want to reduce his $29 million base salary, their best bet is to do it through an extension.
With Goff's deal further raising the bar for QB contracts, though, the price of a Prescott extension has increased.
Dallas could also save money by extending Lamb, who is set to earn a base salary of $18 million on the fifth-year option. It would behoove the Cowboys to get a Prescott deal done first, though, before a quarterback like Love or Tagovailoa tops Goff's deal.
Dallas could always use the franchise tag on Lamb if necessary too.
If the Cowboys must generate cap space to get extensions done, releasing wideout Brandin Cooks is an option. He was a serviceable No. 2 receiver last season, but releasing him after June 1 would save $8 million in cap space.
The internal options for replacing Cooks—which include KaVontae Turpin, Jalen Brooks and rookie Ryan Flournoy—aren't great. However, receivers like Hunter Renfrow, Michael Thomas, Randall Cobb and Richie James are available.
Denver Broncos
Salary Cap Space: $8.5 million
Upcoming Contract Extensions: OT Garrett Bolles, OG Quinn Meinerz, Edge Jonathan Cooper
Ways to Create Cap Space
1. Trading or Releasing D.J. Jones
2. Extending Garrett Bolles
3. Restructure Alex Singleton's contract
Top Options for 2024 and 2025
The Russell Wilson situation has left the Broncos with the task of rebuilding a roster in a tough cap climate and an incomplete cache of draft picks.
They are officially done paying for the trade in draft picks, but they are still managing a tough cap situation. Wilson will account for a $53 million dead cap charge this season and an additional $32 million in 2025.
As such, carving out cap space will be crucial.
If the Broncos are willing to move on from a useful veteran, D.J. Jones is a prime candidate. He has one of the largest cap hits on the roster at $13 million. The nose tackle was ranked 80th among interior defenders in PFF grade and only played 50 percent of the defensive snaps.
Jones is still a decent nose tackle, but he's probably not worth his cap hit and the Broncos could save $10 million by trading or releasing him ahead of the season.
If they want to clear some room without losing a valuable veteran, they could look into extending Garrett Bolles' contract. There's $11.6 million worth of salary that could be spread into future years as part of an extension.
The only downside is that Bolles is already 31 years old. They would also need to spend some of the savings on a veteran tackle like D.J. Humphries or Charles Leno Jr. to make up for his loss.
The simpler method to get some added flexibility is a restructure for linebacker Alex Singleton. He's already under contract through 2025, and they could push $2.2 million of his cap hit into next season by converting it into a bonus.
Detroit Lions
Salary Cap Space: $23.9 Million
Upcoming Contract Extensions: OT Taylor Decker, DT Alim McNeill, S Ifeatu Melifonwu
Ways to Create Cap Space
1. Extend Taylor Decker
2. Restructure David Montgomery's Contract
3. Release Levi Onwuzurike
Top Options for 2024 and 2025
The Detroit Lions have been busy this offseason, handing out extensions to offensive tackle Penei Sewell, wideout Amon-Ra St. Brown and quarterback Jared Goff.
Detroit has enough capital to continue the trend, and left tackle Taylor Decker could be up for a new deal next. While he'll turn 31 this summer, he's still playing at a high level and his pairing with Sewell gives the Lions one of the league's top tackle tandems.
Decker is also entering the final year of his current contract. While players like Tyron Smith and Garrett Bolles are also slated to be free agents in 2025, the Lions aren't going to find a clear upgrade on the veteran market.
The Lions have at least discussed an extension for Decker this offseason.
"Kind of entry-level conversations, base-level conversations," Decker said in April, per Jeremy Reisman of SBNation. "I think my agent and the Lions are on the same page."
Extending Decker could also create some cap space. While the Lions have already restructured his deal once—and owe bonus money into 2025—his $13 million base salary could be further reconstructed.
While Sewell and St. Brown are the standouts of the Lions' stellar 2021 draft class, they aren't the only products who have played their way into new deals. Alim McNeill has become a force along the defensive front, while Ifeatu Melifonwu has become a key contributor in the secondary.
McNeill and Melifonwu are both scheduled to hit the market in 2025. Potential replacements in 2025 free agency include defensive tackle Maliek Collins, defensive tackle B.J. Hill, defensive tackle Cameron Heyward, safety Budda Baker and safety Jeremy Chinn.
With none of those players guaranteed to actually hit the market, simply keeping McNeill and Melifonwu now would make the most sense.
Detroit doesn't desperately need to create cap space right now, but if that changes, restructuring David Montgomery's deal could be an option. The standout running back is under contract through 2025, but his $5.3 million base salary could be reduced.
Releasing Levi Onwuzurike is another option. He flashed as a rookie in 2021 but missed the entire 2022 season with a back injury and was seldom used last season. Releasing him would save $1.8 million in 2024 cap space.
Given Detroit's cap situation, though, the Lions may be content to let Onwuzurike play out his rookie contract.
Green Bay Packers
Salary Cap Space: $19.8 Million
Upcoming Contract Extensions: QB Jordan Love, DT Kenny Clark, CB Eric Stokes
Ways to Create Cap Space
1. Extend or Trade Kenny Clark
2. Release AJ Dillon
3. Trade Eric Stokes
Top Options for 2024 and 2025
The Green Bay Packers had the NFL's youngest roster in 2023, and they're not carrying an excess of expensive contracts. They have plenty of cap space with which to navigate the coming season, and they are projected to have $62.4 million in 2025 cap space.
However, the matter of extending quarterback Jordan Love looms large. He looked like the long-term answer at the end of last season, and, barring a reversal of fortune, he's going to see a hefty payday now or next offseason.
"At a minimum, Love should be in the $48.5 million-to-$49 million-per-year neighborhood," former NFL agent Joel Corry wrote for CBS Sports.
Jared Goff's $53 million-per-year extension may have already pushed Love's price point past Corry's estimation. The number will only go up if quarterbacks like Dak Prescott and Tua Tagovailoa sign new deals before Green Bay and Love get to the bargaining table.
While the Packers could transition to a quarterback like Prescott, Justin Fields or Trey Lance in 2025 free agency, using the franchise tag on Love is probably their best alternative to extending him.
Assuming Green Bay doesn't want to heavily back-load Love's new contract, creating cap space could be needed. Extending defensive tackle Kenny Clark might help create some.
Clark is set to turn 29 in October and is an expensive player, but he's been extremely productive. He's set to be a 2025 free agent, and an extension would make sense.
If that extension can reduce Clark's $15.6 million base salary, all the better. If Green Bay doesn't want to invest in Clark long-term, trading him after June 1 would save $17 million in cap space.
If the Packers were to trade Clark, players like Karl Brooks and T.J. Slaton would likely move up the depth chart. Green Bay could also look to cheaper free-agent alternatives like Lawrence Guy and Al Woods.
A tough decision must soon be made on cornerback and 2021 first-round pick Eric Stokes. While he has flashed some potential, he hasn't been overly consistent and has missed extensive time over the past two seasons with injuries.
Green Bay declined Stokes' fifth-year option, but if he stays healthy and plays well, he could justify an extension before reaching 2025 free agency. If the Packers have lost confidence in him, though, trading him would save $2.3 million in cap space.
The Packers don't have a deep cornerback room and didn't add to it until taking Kalen King in Round 7. However, free agents like Stephon Gilmore, Xavien Howard and Steven Nelson are still available.
Houston Texans
Salary Cap Space: $22.1 million
Upcoming Contract Extensions: WR Stefon Diggs, WR Nico Collins, CB Jeff Okudah
Ways to Create Cap Space
1. Extend Nico Collins
2. Cut or Trade Robert Woods
3. Cut or Trade Jimmie Ward
Top Options for 2024 and 2025
The Houston Texans are enjoying all of the benefits of having a stellar quarterback on a rookie contract. C.J. Stroud is going to cost them $8.2 million this season and $9.9 million in 2025.
It's enabled the Texans to make some really splashy moves without coming even close to salary-cap pain. They traded for Stefon Diggs and signed Danielle Hunter giving them notable additions on both sides of the ball as they look to go from scrappy surprise team to bona fide contenders in 2024.
They still have to keep an eye on the future, though. Wasting money at this point still doesn't serve them well, and there are a few ways they could create even more cap room if they wanted to.
The most notable is cutting or trading Robert Woods. Both Tank Dell and Nico Collins turned in strong seasons last season. Throw in the addition of Stefon Diggs, and it's hard to see Woods having a big role within the offense.
He's still set to account for the third-largest cap hit on the roster at $9.7 million. Ideally, they could trade him after June 1 and save $6.5 million, but releasing him outright would still save $5 million.
Jimmie Ward is in a similar situation, although he's probably more useful for the defense. His ability to play both safety and in the slot might be too valuable to part with, but Justin Simmons or Quandre Diggs might be upgrades available on the free-agent market.
Trading Ward after June 1 would create $5.8 million in cap room while cutting him would mean $3.8 million.
Extending Nico Collins doesn't open up a whole lot of cap space in 2024, just $1.7 million could be moved into future years. However, it might save them money on his 2025 cap hit. The market for receivers only continues to go up, and it could see another spike once Justin Jefferson gets an extension.
Signing him now before the potential of another strong season and a market-resetting contract goes into effect would be a wise way to save future cap space.
Indianapolis Colts
Salary Cap Space: $25.6 million
Upcoming Contract Extensions: OG Will Fries, OT Braden Smith, C Ryan Kelly
Ways to Create Cap Space
1. Extend or restructure Ryan Kelly's contract
2. Trade or Release Mo Alie-Cox
3. Extend Braden Smith's contract
Top Options for 2024 and 2025
The Colts are another team that goes into the season with plenty of cap space thanks to having a rookie quarterback. Anthony Richardson is just in the second year of his rookie deal, and they only have three players set to make more than $15 million next season.
Most of the Colts' ways to create cap space involving additional to commitment to their current offensive line.
It's a good group of players, but they aren't getting much younger. Ryan Kelly is a great example. He ranked eighth among all centers graded by PFF last season and is on the final year of his contract. He's going to be 31 during the season, though.
Extending him at this age coming off a good season could be a recipe for an overpay in a year or two. However, they could also considering restructuring his current contract, add a void year and spread out his $14.6 million cap hit without committing beyond 2024.
Handing Braden Smith a contract extension is another option. He's under contract through 2025, but only $3 million of his $19.8 million cap hit is guaranteed next season.
An early extension would provide him with a whole lot more security while giving the Colts an opportunity to smooth out his cap numbers over the next few seasons. Retaining his protection for Richardson isn't a bad idea.
If there's someone they can probably do without it's Mo Alie-Cox. Kylen Granson had become the preferred tight end on the roster by the end of the season and Jelani Woods could also eat into Alie-Cox's role as he returns from a hamstring injury that cost him his entire second season.
Going with Woods and Granson while letting go of Alie-Cox would save $5.9 million.
Jacksonville Jaguars
Salary Cap Space: $32.9 million
Upcoming Contract Extensions: QB Trevor Lawrence, OT Cam Robinson, OG Brandon Scherff
Ways to Create Cap Space
1. Trade or Cut Cam Robinson
2. Extend Trevor Lawrence
3. Restructure Foyesade Oluokun's contract
Top Options for 2024 and 2025
The Jaguars have plenty of cap flexibility for 2024, which doesn't take away any of the sting of losing Calvin Ridley in free agency this season.
However, the purse strings could tighten up once Trevor Lawrence gets his contract extension. The team exercised his fifth-year option which means he could count for a $25.6 million cap hit in 2025.
That's still pretty cheap by today's standards, but the earlier a contract extension gets done, the more money the Jaguars save. An extension could significantly cut that number in 2025 as it would allow some of his salary to be rolled into a signing bonus that would pay out over the life of the contract.
The Jags would ultimately end up having to navigate a tighter cap situation, but an extension staves that off for a few more years.
One place they could start to look for money to be big players in free agency next season is with left tackle Cam Robinson. The position isn't usually one you mess with, but a trade would free up $17.3 million because his 2023 suspension for violating the league's PED policy voided the guarantees in his contract.
After the suspension and battling a knee injury it would be understandable if the Jaguars were alright with moving on. They would still have Walker Little to play the position and Donovan Smith is still looking for a home on the free agent market.
The easiest path the Jags can take that won't involve losing a player or committing a huge amount for future payrolls is to restructure linebacker Foyesade Oluokun's contract. He's already one of the most expensive players on the team, but it could convert some of his $5 million salary to a bonus to save up to $4 million this season.
Kansas City Chiefs
Salary Cap Space: $15 million
Upcoming Contract Extensions: C Creed Humphrey, OG Trey Smith, S Justin Reid
Ways to Create Cap Space
1. Restructure Jawaan Taylor's Contract
2. Extend Justin Reid
3. Extend Creed Humphrey
Top Options for 2024 and 2025
The defending champions are gearing up for a three-peat and have a good amount of salary-cap space to make some moves if the opportunity arises.
Of course, it's always good to know how they can create a bit more if they have to. The Chiefs decided to trade L'Jarius Sneed so they obviously understand that you can't keep everyone but they have to manage the cap to maximize their historic Super Bowl window.
Two of the biggest ways they could do that come on the offensive line.
Jawaan Taylor's contract is pretty straightforward as far as NFL pacts go. After getting a discount in the first year, they are on the hook for a $24.7 million cap hit in each of the next three seasons. The guaranteed money mostly runs out by 2026, though.
A restructured deal would likely mean more job security for Taylor in the long run, but it would mean more cap savings now. They could restructure a portion of his $19.5 million base salary to create up to $12.6 million in space now and potentially add a void year to smooth out the hits in the latter years of his deal.
It's a sacrifice to their long-term flexibility. Right now, the deal is essentially for two more years. However, if the opportunity comes to add another talented player, it could be worth it to chase a historic three-peat.
In a similar vein, the Chiefs could save money if they are willing to commit to Justin Reid beyond this season. He's set to be one of their highest-paid players in 2024 with a cap hit of $14.3 million.
They could save $10.8 million by releasing him, but he's too valuable to a secondary that just lost Sneed. Extending him would be a better option, rolling some of his $10 million base salary into a signing bonus on the new contract.
Extending Creed Humphrey is about as no-brainer as it gets. The Chiefs have enjoyed an elite interior trio on the offensive line at a discount price, but that will come to an end next season. Both Humphrey and Trey Smith are up for new contracts.
If creating additional cap space in 2024 is the goal, then Humphrey should be the first one up. He has $4.8 million in salary that could be moved around in a new deal.
Las Vegas Raiders
Salary Cap Space: $18.3 million
Upcoming Contract Extensions: Edge Malcolm Koonce, CB Nate Hobbs, S Trevon Moehrig
Ways to Create Cap Space
1. Extend Nate Hobbs
2. Trade or Release Marcus Epps
3. Restructure Kolton Miller's Contract
Top Options for 2024 and 2025
The Raiders should feel good about their cap situation going into the next two seasons. They don't have any major contracts coming up for extension and don't have a lot of burdensome deals that impact their flexibility.
The quarterback question still looms large, and they should be able to move some money around to create space for a veteran in 2025 or have the supporting cast for a rookie if that's the path they choose.
Still, there are some moves they can make if they want to create more space this season.
There aren't a lot of extensions they should feel pressure to make right away. Malcolm Koonce was good in the back half of the season but hasn't done enough to earn an early extension. Trevon Moehrig is still working on living up to his draft stock.
Nate Hobbs is the most logical candidate. He's made 31 starts in his first three seasons, and the Raiders could clear up to $1.8 million with an extension. He should be the team's primary nickel back this season and his price would only go up with another good season.
Elsewhere in the secondary, Marcus Epps might need to prove himself in camp. If the Raiders feel pressure to create some room, they could decide that parting with Epps is the way to do it. A post-June 1 cut would clear $3.4 million while a trade would create $6 million.
Either move could pave the way to the Raiders to pursue another veteran safety like Justin Simmons and Quandre Diggs, who are both available and would probably qualify as upgrades.
Los Angeles Chargers
Salary Cap Space: $27.6 million
Upcoming Contract Extensions: CB Asante Samuel Jr., Edge Khalil Mack, WR Josh Palmer
Ways to Create Cap Space
1. Restructure Derwin James' contract
2. Extend Josh Palmer
3. Trade Trey Pipkins III
Top Options for 2024 and 2025
New general manager Joe Hortiz has pulled nearly every lever that the Chargers could to essentially reset their cap situation.
Their previous payroll was bloated by Joey Bosa, Khalil Mack, Keenan Allen and Mike Williams' massive contracts, but they've restructured Bosa and Mack while parting ways with Allen and Williams.
Now they have the fifth-most cap space in 2024 and the 11th-most in 2025.
The one contract they didn't touch was Derwin James's deal. He signed a four-year, $76.5 million extension in 2022 that runs through the 2026 season. It remained intact despite a burdensome $19.9 million cap hit after a turbulent 2023 season.
That's probably by design. If they eat that cap hit this season, they'll be able to release him in 2025 and save $16.8 million against the cap.
However, a restructure could provide more immediate cap relief. They could convert some of his $12.8 million base salary into a bonus that could save up to $7.8 million this season. Alternatively, releasing him after June 1 would save $9.3 million.
That seems less likely, but there are good safeties left on the market. Justin Simmons, Quandre Diggs and Eddie Jackson would have to be considerations.
There aren't many big contract extensions coming down the pike either. Justin Herbert is already taken care of and the rest of the Chargers roster is either taken care of or has work to do to prove they are worthy of an extension.
One candidate who would make some sense though is Josh Palmer. The Chargers have a need at receiver and the 24-year-old has been productive in a complementary role. Extending his contract would save $1.6 million in space.
The Chargers are also short on trade chips, but Trey Pipkins III could have a market if L.A. was selling. The league is always in need of offensive tackles with experience and he started all 17 games for the Bolts last season.
Pipkins is slated to take on a reserve role with Joe Alt in the fold. Trading him away would save $3.8 million in 2024 cap space if they trade him before June 1 and $6.3 million if traded after June 1.
Los Angeles Rams
Salary Cap Space: $11.3 million
Upcoming Contract Extensions: OT Alaric Jackson, DT Bobby Brown III, RB Kyren Williams
Ways to Create Cap Space
1. Restructure Matthew Stafford's Contract
2. Release Hunter Long
3. Trade Joe Noteboom
Top Options for 2024 and 2025
The Los Angeles Rams have a comfortable amount of cap space for the coming season, and they're unlikely to target any extensions before the start of the season. Most of the team's core consists of either older veterans on long-term deals or young players still early into rookie contracts.
However, the Rams may look to do a few deals before the end of the regular season or early in 2025. Young standouts Puka Nacua and Kobie Turner won't be extension-eligible until 2026, but they're not the only youngsters playing their way into new contracts.
The Rams are projected to have just $2.1 million in 2025 cap space.
Offensive tackle Alaric Jackson, who was a restricted free agent this offseason, performed well as the team's left tackle in 2023—he allowed just one sack, according to Pro Football Focus. He'll be an unrestricted free agent next offseason, though, and the Rams may not be keen on replacing him with an older tackle like Tyron Smith or Cam Robinson.
They will likely give Jackson time to further prove himself, but a strong start to the season could prompt extension talks.
L.A. is in a similar situation with defensive tackle Bobby Brown III, another impending 2025 free agent. While he started 13 games last season and will likely have a large role in replacing the retired Aaron Donald, the Rams probably won't talk extension prematurely.
Free-agent options for replacing Brown in 2025 include Kenny Clark, Greg Gaines and B.J. Hill.
Running back Kyren Williams won't be extension-eligible until the offseason, and L.A. did add Blake Corum in the draft. However, if Williams has another Pro Bowl campaign in 2024, the Rams could want to get an early deal done.
While none of these extensions would provide noteworthy cap relief, the Rams could find some by restructuring the contract of quarterback Matthew Stafford. He's signed through 2026, but they could look to reduce his $31 million base salary.
Stafford could be open to it. According to NFL Media's Ian Rapoport, he would like to revise his contract to include more guaranteed money after the 2024 season.
If Jackson proves to be L.A.'s long-term left tackle, trading backup Joe Noteboom after June 1 would save $5.6 million in cap space. Trading or releasing seldom-used tight end Hunter Long would save another $1.3 million in 2024 cap room.
Miami Dolphins
Salary Cap Space: $1.9 million
Upcoming Contract Extensions: QB Tua Tagovailoa, S Jevon Holland, WR Jaylen Waddle
Ways to Create Cap Space
1. Extend Tua Tagovailoa
2. Restructure Bradley Chubb's contract
3. Extend Jevon Holland
Top Options for 2024 and 2025
The Miami Dolphins are walking the salary-cap tightrope that comes when a quarterback hits the end of his rookie contract.
While Joe Burrow and Justin Herbert have already cashed in, Tua Tagovailoa has yet to join his 2020 draft kin with a new contract. His injury history and production early in the deal have made him somewhat unique in coming to terms.
The Dolphins have had other cap-related issues to navigate as well. They had to part with multiple quality starters this offseason and are still just treading the cap waters. They'll need to create more space to weather the inevitable storms that come in an NFL season.
One way to do it would be to ink Tagovailoa to a contract extension. He's playing on a $23.2 million fifth-year option this season. An extension could bring down that number, spreading his salary over the life of the contract in the form of a bonus.
Both Jaylen Waddle and Jevon Holland are eligible for new contracts after three years. Waddle is arguably the more important player, but Holland should be more urgent. Waddle has the fifth-year option that will keep him around through 2025.
As a former second-round pick, the Dolphins don't have the luxury with the safety. A new contract for him could clear $1.8 million. It isn't much, but it would nearly double the modest cap space they have now.
If management isn't ready to open up the vault to hand out massive new contracts, there's still one restructure at their disposal to get some breathing room. Around $4 million of Bradley Chubb's salary could be converted into a bonus and pushed into the rest of his contract which already has a void year attached.
It would be kicking the salary-cap can down the road to an extent, but they are going to have do to something before the season starts.
Minnesota Vikings
Salary Cap Space: $17.2 million
Upcoming Contract Extensions: WR Justin Jefferson, CB Bryon Murphy Jr., S Camryn Bynum
Ways to Create Cap Space
1. Extend Justin Jefferson
2. Release or trade QB Nick Mullens
3. Restructure Brian O'Neill's Contract
Top Options for 2024 and 2025
The Minnesota Vikings aren't currently cap-strapped, but they may still look to generate a little space for upcoming extensions.
The most pressing contract to address is that of star wide receiver Justin Jefferson—and it has been dating back to last season. Though he battled injuries in 2023, he was still a 1,000-yard receiver and remains one of the best in the game. Keeping him for the foreseeable future to help develop rookie quarterback J.J. McCarthy would be wise.
However, the Vikings don't appear to have made a lot of headway with Jefferson, who has been extension-eligible since last season. Instead, Minnesota has watched as Amon-Ra St. Brown, then A.J. Brown reset the receiver market in terms of annual salary.
Receivers like Tee Higgins and Amari Cooper are scheduled to be free agents next offseason, but it's hard to imagine Minnesota not using the franchise to keep Jefferson if he isn't already under contract long term.
It would behoove Minnesota to extend Jefferson before, say, Ja'Marr Chase resets the market again. However, the Vikings are confident that it'll get done.
"I know everything's going to get worked out there," head coach Kevin O'Connell told Kay Adams on Up & Adams.
Of course, an extension for Jefferson could create some extra 2024 cap space. He is set to earn a $19.7 million base salary on his fifth-year option.
The Vikings could also consider extending cornerback Byron Murphy Jr. He played well in his first campaign with Minnesota last season and is now on the final year of his deal. An impending 2025 free agent like Charvarius Ward or Carlton Davis could serve as a replacement, but keeping Murphy in-house would be sensible.
While it wouldn't save a ton of space, releasing—or, ideally, trading—quarterback Nick Mullens would be an easy decision. Between McCarthy, second-year quarterback Jaren Hall and newcomer Sam Darnold, the Vikings would have solid quarterback depth even without Mullens—though after watching so many QBs go down in 2023, including Kirk Cousins, Minnesota could be inclined to keep all four.
Releasing or trading Mullens would save $1.9 million in cap space.
The Vikings could also approach right tackle Brian O'Neill about another restructure. Minnesota restructured his contract last fall, but with his $14 million base salary, the Vikings could afford to do it again—though it would almost certainly push bonus money into future void years.
New England Patriots
Salary Cap Space: $49.3 million
Upcoming Contract Extensions: DT Davon Godchaux, RB Rhamondre Stevenson, Edge Matthew Judon
Ways to Create Cap Space
1. Trade or release JuJu Smith-Schuster
2. Trade Matthew Judon
3. Release JaMycal Hasty
Top Options for 2024 and 2025
The Patriots are the definintion of a rebuilding team right now. They just promoted Eliot Wolf to executive vice president of player personnel, making him the closest thing to a general manager they have.
He takes over a mostly blank canvas of a roster with a few promising players and few concrete answers to the most important questions.
As such, they don't have much money committed to the current roster. They have the most cap space by $6 million and there's plenty of projected space in 2025 as well.
Given their current cap situation and the general dearth of talent on the roster, most of the moves they could do are on the margins.
The splashiest way is to trade or release JuJu Smith-Schuster. The Pats need wide receivers, but his first season with them was a bust. He followed up a 993-yard effort for the Chiefs with just 260 yards and a touchdown on 29 receptions in 11 games.
The Patriots found a shifty slot threat in Demario Douglas, he led the team in receiving with 561 yards last season. They drafted Ja'Lynn Polk and Javon Baker to go with Douglas, K.J. Osborn and Kendrick Bourne.
In other words, the Patriots might prefer the $7.7 million in cap space they could create by trading Smith-Schuster after June 1.
Trading Matthew Judon could be another consideration, although not one that should be done for pure cap reasons. He had four sacks in the four games he played in last season with 28 sacks in the previous two years with the Patriots.
However, his age doesn't really fit with the Patriots' current timeline and there could be an interesting market for him if he proves to be healthy.
Judon is going to be 32 before the season starts and is in the final year of his contract. The Pats would save $4.4 million by trading him before June 1 and $6.7 million if he's traded after that date.
JaMycal Hasty stands out as one of the lesser-known names they could release who would represent more than $1 million in cap savings.
New Orleans Saints
Salary Cap Space: $5.1 million
Upcoming Contract Extensions: LB Pete Werner, CB Paulson Adebo, WR Chris Olave
Ways to Create Cap Space
1. Release or Trade Taysom Hill (Post-June 1)
2. Trade Jamaal Williams (Post-June 1)
3. Trade Trevor Penning
Top Options for 2024 and 2025
The Saints continually find themselves in sticky cap situations because general manager Mickey Loomis keeps pushing contracts down the road. This has left New Orleans with little cap space for the rest of 2024 and a dreadful 2025 outlook.
New Orleans is projected to be $98.1 million over the cap next offseason.
The good news, in a way, is that the Saints don't have a ton of immediate extension candidates. This is, of course, due to some lackluster draft selections in 2021 and 2022, but there aren't many pressing needs.
However, 2021 second-round pick Pete Werner and 2021 third-round pick Paulson Adebo have become fairly dependable contributors in the defense, and both are set to become free agents.
Given the Saints' upcoming cap situation, extending Werner might be a better financial move than trying to replace him with another impending 2025 free agent like Kyzir White or Jerome Baker.
Replacing Adebo could be easier, however, depending on how rookie second-round pick Kool-Aid McKinstry develops this season.
Next offseason, standout wide receiver Chris Olave will be extension-eligible. While the Saints' cap situation may force them to wait on a new deal, it's something they'll have to consider over the next year.
The problem is that after extending Tyrann Mathieu and restructuring the contracts of players like Derek Carr and Ryan Ramczyk, Loomis is running short on cap-saving options.
One option is to release or trade tight end/quarterback/gadget player Taysom Hill. While Hill has value to the offense, he's also set to carry a hefty $15.8 million cap hit.
Cutting Hill after June 1 would save $8.5 million in cap space, while trading him would save $10 million in 2024 cap room. Doing either would likely mean relying more on Foster Moreau and/or Tommy Hudson at tight end.
Releasing Jamaal Williams, who averaged just 2.9 yards per carry last season, is another possibility. He is under contract for two more seasons, and finding a trade partner won't be easy, but New Orleans could save $3.2 million in cap space if they do.
James Robinson, second-year back Kendre Miller and/or undrafted rookie Jacob Kibodi should be able to replace Williams' modest 2023 production (368 scrimmage yards, 1 TD).
The Saints might have an easier time finding a taker for 2022 first-round pick Trevor Penning. He hasn't worked out as a starting left tackle and will likely be replaced by rookie Taliese Fuaga before or during the 2024 season.
However, untapped potential and draft pedigree can lead to market interest. Trading Penning would save $2 million in cap space while providing an opportunity for rookie seventh-round pick Josiah Ezirim.
New York Giants
Salary Cap Space: $-137,364
Upcoming Contract Extensions: Edge Azeez Ojulari, CB Nick McCloud, P Jamie Gillan
Ways to Create Cap Space
1. Restructure Daniel Jones' Contract
2. Restructure Andrew Thomas' Contract
3. Release Darren Waller
Top Options for 2024 and 2025
The New York Giants made some bold moves this offseason, including trading for and extending pass-rusher Brian Burns. They also opted for drafting LSU wide receiver Malik Nabers at No. 6 overall instead of investing in a replacement for Daniel Jones at quarterback.
This means Jones will factor into New York's quarterback plans for at least another season—though he's coming off a torn ACL and may have to compete with free-agent addition Drew Lock.
The Giants do have a couple of extension candidates to consider in impending 2025 free agents Azeez Ojulari, Nick McCloud and Jamie Gillan.
Ojulari was a 2021 second-round pick, while McCloud was an undrafted free agent by Buffalo that year before making his way to Cincinnati and then New York in 2022. Both have become regular contributors in the Giants defense and could warrant an extension.
Gillian arrived in 2022 free agency and has settled in as New York's punter over the last two seasons.
It wouldn't be surprising to see the Giants extend any or all of the three before the end of this season, though the 2025 free-agent class will offer alternatives. Players like cornerback Tre'Davoous White, cornerback Byron Murphy Jr., pass-rusher Khalil Mack, pass-rusher Matthew Judon and punter Tress Way are scheduled to be available next offseason.
Even without any extensions, though, the Giants need to create cap space immediately.
Restructuring Jones' contract again could make a ton of sense. The Giants restructured his deal just before the start of the 2023 season, but they could afford to do it again. He's set to carry a base salary of $35.5 million this year.
The big question regarding Jones is whether the Giants want to push any more bonus money into future years. He struggled last season before the injury, and New York currently has an out in 2025—the dead money on his contract will drop from $69.3 million to $22.2 million.
Restructuring the contract of left tackle Andrew Thomas might be a more attractive option since he's played well enough to stick around for the foreseeable future. He's already under contract through 2029, but his $14.2 million base salary could be reduced.
At some point, the Giants have to sort out the future of tight end Darren Waller, who is considering retirement. New York isn't looking to rush a decision.
"We're giving Darren his space," general manager Joe Schoen said in April, per Paul Schwartz of the New York Post.
However, releasing Waller after June 1 would save $12.1 million in cap space.
New York Jets
Salary Cap Space: $6.1 million
Upcoming Contract Extensions: CB D.J. Reed, Edge Haason Reddick, OT Tyron Smith
Ways to Create Cap Space
1. Extend D.J. Reed
2. Restructure Allen Lazard's contract
3. Extend Haason Reddick
Top Options for 2024 and 2025
There's a lot of talk about how the Jets are all-in on 2024, but it obscures the fact that they are in fairly good financial shape for 2025. They are projected to have the 16th-most cap space based on their books right now.
How clean they want to keep those books for next season might determine how they could go about clearing up some cap space for this season.
The first option would be extending D.J. Reed. The 27-year-old has given the Jets a solid corner to play across from Sauce Gardner. He only has two interceptions over the last two seasons, but he's also only given up an 81.6 passer rating to opposing quarterbacks.
Committing to another few seaons of him would allow them to carve out another $7.5 million which would be spread out over the extension. They are already committed to three void years on his contract so they might as well have him on the roster for a few of those.
Haason Reddick would be another possible extension but it's a little more complicated decision. The Jets just traded for him this offseason so giving him additional money and years on a contract without seeing how he fits into the defense would be a gamble.
However, there's a lot of cap flexibility in making the move. None of his $15 million is guaranteed so a big chunk of it could be converted into a bonus which would give Reddick some added security while only costing the Jets more cap space in future seasons.
The Jets could make a similar decision if they opt to restructure Allen Lazard's contract. He wasn't a productive receiver without Aaron Rodgers in the lineup last season.
If the Jets would consider moving on from him in 2025 then it's probably wise to leave the receiver's contract alone. However, if they want to keep him with Rodgers over the next few seasons anyway, then turning some of his $10 million salary into a bonus would be a creative way to free up some money this season.
Philadelphia Eagles
Salary Cap Space: $25.2 million
Upcoming Contract Extensions: DT Jordan Davis, C Cam Jurgens, LB Nakobe Dean
Ways to Create Cap Space
1. Release DeVante Parker
2. Release or Trade Kenneth Gainwell
3. Release or Trade Fred Johnson
Top Options for 2024 and 2025
The Philadelphia Eagles have pretty much already handled their financial housekeeping for the 2024 season. After extending A.J. Brown, DeVante Parker, Jordan Mailata and Landon Dickerson, they don't have any pressing contracts to address.
However, Philly's tendency to extend players early could have Howie Roseman already eyeing the 2025 offseason. Draft picks from two years ago, Jordan Davis, Nakobe Dean and Cam Jurgens have settled into important roles and will all be extension-eligible next offseason.
The Eagles are projected to have a modest $15.7 million in cap space in 2025.
The problem is that finding easy money for the Eagles isn't actually easy. Philadelphia already restructured the contracts of Josh Sweat and Jason Kelce (prior to his retirement). It also released Avonte Maddox and re-signed him on a more team-friendly deal, released Kevin Byard and traded Haason Reddick.
The other issue is the way Roseman tends to construct contracts. Most of the contract dollars are already tied up in bonuses—signing, option, roster and workout—leaving no real room for restructuring.
Brown's league-leading receiver contract, for example, carries a base salary of less than $1.5 million in each of the next six seasons.
Teams can convert roster bonuses into signing bonuses for restructuring purposes—the Cowboys did it with Dak Prescott earlier this offseason—but roster and option bonuses are typically due early in the offseason.
If the Eagles want to create cap space now, they'll likely need to cut or trade players. Releasing free-agent addition DeVante Parker, for example, would clear his entire $1.2 million cap hit from the books.
Parker was signed to compete for the third-receiver role, but with Parris Campbell, rookie wideout Ainias Smith and rookie receiver Johnny Wilson in the fold, he could be viewed as expendable.
The same could be true for running back Kenneth Gainwell. While he has been a fine part-time contributor, the Eagles signed Saquon Barkley to be the starter and drafted Will Shipley for depth.
Releasing or trading Gainwell would save $1.1 million in cap space while potentially clearing the way for undrafted rookie Kendall Milton.
Backup tackle Fred Johnson is entering the final year of his contract, and while depth is valuable, Philly could move undrafted rookie Anim Dankwah into the backup spot behind Mailata with Mekhi Becton providing swing-tackle depth.
Becton's entire contract is guaranteed, while Johnson's is not. Trading or releasing Johnson would save another $1.1 million in cap space.
Pittsburgh Steelers
Salary Cap Space: $18.8 million
Upcoming Contract Extensions: TE Pat Freiermuth, QB Justin Fields, DL Cameron Heyward
Ways to Create Cap Space
1. Extend Cameron Heyward
2. Trade Dan Moore Jr.
3. Restructure Isaac Seumalo's contract
Top Options for 2024 and 2025
The Steelers aren't a team that has a pressing need to create some cap space. Unless they really do have a trade for a receiver up their sleeve between now and the NFL trade deadline next season. Their current budget is enough to get through a season.
However, the Steelers have a need for receiver help and they've been a speculative landing spot for the likes of Brandon Aiyuk. If they are going to try and fit a player like that into their financial planning then some moves might be necessary.
One move that has been in the news recently is a potential extension for Cameron Heyward.
Jeremy Fowler of ESPN reported the veteran has not attended voluntary offseason workouts and doesn't plan to attend OTA's while he hopes to work out a contract extension. He's a longtime Steeler who the club might want to reward for his loyalty.
An extension would make it possible to free up another $11.8 million in cap space while also committing them to more money and years for a player who is already 35 years old.
Trading away offensive line depth is not something to be done lightly. However, Troy Fautanu's arrival in the Steel City does make Dan Moore Jr. expendable. There are plenty of teams around the league who would love to add a 25-year-old left tackle with 49 starts under his belt.
Dealing him would likely net a decent draft pick and $3.4 million in space. Finding a swing tackle on the free agent market could cost more than that, though. Donovan Smith might be the best option available and he cost the Chiefs $2.7 million last season.
The safest way to create some immediate funds would be to restructure Isaac Seumalo's contract. It would make it harder to move on from him in the future, but he played so well last year that's not a major concern.
A basic restructure of his contract would save $3.3 million.
San Francisco 49ers
Salary Cap Space: $5.5 Million
Upcoming Contract Extensions: WR Brandon Aiyuk, CB Charvarius Ward, QB Brock Purdy
Ways to Create Cap Space
1. Extend or Trade Brandon Aiyuk
2. Extend or Trade Charverius Ward
3. Trade Deebo Samuel (Post-June 1)
Top Options for 2024 and 2025
The San Francisco 49ers are short on cap space, and while receiver Brandon Aiyuk and cornerback Charvarius Ward are both impending 2025 free agents, the 49ers may be most concerned with the future of quarterback Brock Purdy.
Purdy has certainly looked and played like San Francisco's quarterback of the future over the last two years, and he'll be extension-eligible in 2025. However, the 49ers are projected to be $23.4 million over the cap next offseason.
Purdy may have been a seventh-round draft pick, but he was a viable MVP candidate in 2024 and has guided San Francisco to back-to-back NFC title games and one Super Bowl. If Jared Goff can land a deal worth $53 million a year, Purdy can too.
In the short term, however, Brandon Aiyuk has the most pressing contract situation. He's set to play on the final year of his rookie deal, and the 49ers could potentially save plenty of cap space by extending him.
Aiyuk will have a fully guaranteed base salary of $14.1 million this season.
The 49ers may also consider extending starting cornerback Charvarius Ward, who will be a free agent in 2025. Rookie second-round pick Renardo Green is a candidate to replace Ward in the long-term, and the 49ers could target corners like Tre-Davious White and Rasul Douglas next offseason. However, they also know what they have in the 28-year-old Ward—who was both a Pro Bowler and a second-team All-Pro.
Extending Ward's contract, which has a base salary of $12.6 million, could create some immediate cap space. If the 49ers are confident in their corner depth—or covet a current free agent like Stephon Gilmore of Xavien Howard, trading Ward could also be an option. Doing so after June 1 would save $13.5 million against the cap.
Trading Aiyuk or fellow wideout Deebo Samuel is also an option San Francisco might consider while eyeing Purdy's future. The Athletic's Dianna Russini reported before the draft that San Francisco spoke with teams about trading one of two. That was before using a first-round pick on Ricky Pearsall, who will provide insurance at receiver.
San Francisco also used a fourth-round pick on Jacob Cowing. So, while trading Aiyuk or Samuel feels unlikely now, given the 49ers' quest for a Lombardi Trophy, that could change as the offseason progresses.
Trading Aiyuk would wipe his entire salary from the books, while trading Samuel after June 1 would save $22 million in cap space.
Seattle Seahawks
Salary Cap Space: $-255,309
Upcoming Contract Extensions: S Julian Love, WR DK Metcalf, Edge Boye Mafe
Ways to Create Cap Space
1. Extend Julian Love
2. Extend DK Metcalf,
3. Restructure, Extend or Trade Dre-Mont Jones
Top Options for 2024 and 2025
The Seattle Seahawks need to generate some cap space just to operate through the remainder of the offseason. Seattle has already restructured the deals of Geno Smith, Tyler Lockett and Dee Eskridge, so there aren't a whole lot of easy options.
Fortunately, the Seahawks don't have many pressing contract situations either. Julian Love is the most notable starter set to hit the open market in 2025, though he was a Pro Bowler in 2023 and is a logical candidate to extend.
Doing so could help Seattle's cap situation, as the final year of his contract carries a $5 million base salary.
If Seattle lets Love get away next offseason, it could end up overspending on a fellow free agent like Jevon Holland or Jimmie Ward just to replace him.
The Seahawks could also save some cap space by restructuring the contract of DK Metcalf. He's under contract for two more years but is set to earn a base salary of $13 million this season.
Extending Metcalf might be the superior option, though. Converting some of his salary into bonus money would provide immediate cap relief while allowing Seattle to get a jump on his 2025 contract year.
Metcalf's base salary will balloon to $18 million next offseason, and Seattle is already projected to be $6.7 million over the 2025 cap. Plus, it's not as if receiver contracts will be any cheaper a year from now.
Seattle's looming 2025 cap situation is also a reason to consider creating some space now. Budding star pass-rusher Boye Mafe will be extension-eligible in 2025, and if he replicates his 2023 success (nine sacks), he could be due a hefty pay raise.
A restructuring or extension of Dre'Mont Jones' contract could help Seattle prepare for the future. The productive defensive tackle has two years left on his deal but is set to earn base salaries of $11 million this season and $16 million in 2025.
Trading Jones is another viable option after landing defensive tackle Byron Murphy II in the first round of the draft. Seattle may want to get a long look at Murphy in organized team activities and training camp before considering Jones expendable, but the veteran would undoubtedly have some value on the trade market.
Trading Jones after June 1 would also save $11.5 million in 2025 cap space. Seattle could likely land a budget free-agent defender like David Bada or Al Woods to provide depth behind Murphy, Jonathan Hankins and Myles Adams.
Tampa Bay Buccaneers
Salary Cap Space: $9.5 million
Upcoming Contract Extensions: OT Tristan Wirfs, Edge Joe Tryon-Shoyinka, LB K.J. Britt
Ways to Create Cap Space
1. Extend Tristan Wirfs
2. Restructure Vita Vea's Contract
3. Trade Chris Godwin
Top Options for 2024 and 2025
The Tampa Bay Buccaneers got quite a few long-term deals done this offseason, locking up wideout Mike Evans, safety Antoine Winfield Jr. and quarterback Baker Mayfield. They have set the stage for another playoff run in 2024, but it should worry about the future as well.
Tristan Wirfs has become a building block along the Buccaneers' offensive line, and he made a successful transition from right to left tackle last offseason. He's certainly deserving of a deal, and giving it to him now would be advisable.
Wirfs is likely to be one of the top tackles on a 2025 free-agent market that will also include Tyron Smith, Garrett Bolles and Taylor Decker. Tampa might consider one of those as an alternative, but the franchise tag feels more likely.
Extending Wirfs now could save cap space. Though he restructured his deal in 2023, he's still set to carry a base salary of $18.2 million on the fifth-year option.
Pass-rusher Joe Tryon-Shoyinka hasn't been as integral to Tampa Bay's success as Wirfs has, but he's been a solid rotational pass-rusher. Extending him ahead of 2025 free agency would be preferable to chasing another free agent like Matthew Judon or Khalil Mack on the open market.
Of course, rookie second-round pick Chris Braswell could be ready to replace Tyron-Shoyinka in the rushing rotation by season's end.
Linebacker K.J. Britt, who stepped into a prominent role last season, is another impending 2025 free agent who should be retained. The 2025 market—headlined by Britt, Bobby Wagner, Dre Greenlaw and Tampa's own Lavonte David—will feature talent, but the Bucs already know that Britt fits the system.
If a Wirfs extension doesn't generate the space Tampa is seeking, it could consider restructuring the contract of defensive tackle Vita Vea—which carries a base salary of $21 million this season. If the Bucs become really desperate, they could consider trading No. 2 receiver Chris Godwin as well.
Moving Godwin after June 1 would save $20 million in 2024 cap space. Such a move feels unlikely, even with Godwin set to be a free agent next year, given Tampa's desire to win now. If rookie third-round pick Jalen McMillan develops quickly, however, the Buccaneers might just consider Godwin expendable before the 2024 trade deadline.
Tennessee Titans
Salary Cap Space: $26.7 million
Upcoming Contract Extensions: WR DeAndre Hopkins, OT Dillon Radunz, WR Nick Westbrook-Ikhine
Ways to Create Cap Space
1. Release Luke Gifford
2. Trade or Extend DeAndre Hopkins
3. Extend Daniel Brunskill
Top Options for 2024 and 2025
The Titans are rebuilding and undergoing a paradigm shift after the move from Mike Vrabel to Brian Callahan. As you can see from the upcoming contract extensions, there aren't a lot of foundational players who are due for massive extensions.
That being said, DeAndre Hopkins is an interesting player for them moving forward. He's in the second year of the two-year, $26 million contract they signed him to last season. There are already three void years built into it, but they built themselves flexibility for 2024.
The unlikely scenario is that they pull a stunner and trade the veteran. He put up his first 1,000-yard season since 2020 with the Titans last season and his trade value may never be higher. It would clear a considerable $16.4 million in cap space.
It would leave Will Levis with less weaponry though. The free agent wide receiver left in May just don't inspire the confidence to trade Hopkins. An extension would be a more likely proposition.
The extension would give them a good amount of that $16.4 million to play with and spread over the next few seasons with the benefit of keeping Hopkins with new free agent signee Calvin Ridley for Levis.
A much simpler way to create much less cash on the books would be to release Luke Gifford. They would stand to create $1.9 million in space for releasing a player who only played eight percent of the defensive snaps and missed six games with injury last season.
A middle-ground option to consider would be extending Daniel Brunskill. He's not an earth-shattering guard, but he was solid last season. The Titans should know how valuable that is after dealing with a bad offensive line in 2023.
The 30-year-old is set to carry a cap hit of $3.8 million which is a bargain for a starting guard but could be even lower if they were to hand him a two-year extension and tack on a void year.
Washington Commanders
Salary Cap Space: $43.5 million
Upcoming Contract Extensions: OL Sam Cosmi, CB Benjamin St-Juste, 2024 Free Agent TBD
Ways to Create Cap Space
1. Restructure Terry McLaurin's Contract
2. Restructure, Extend or Trade Jonathan Allen
3. Trade Daron Payne (Post-June 1)
Top Options for 2024 and 2025
The Washington Commanders still have a tremendous amount of cap space, even after overhauling much of their roster this offseason. Washington is also in good shape for 2025, when it is projected to have the league's second-most cap space with $115 million.
Because the Commanders are in the early stages of a complete rebuild, there aren't many immediate extension candidates to be found. However, a pair of 2021 draft picks have certainly played their way into consideration.
Offensive tackle Sam Cosmi, for example, was a 17-game starter last season and performed well—he was responsible for four penalties and one sack allowed across 1,103 snaps, according to Pro Football Focus.
Extending Cosmi before he reaches 2025 free agency would be logical, even if next year's market may include names like Zack Martin, Kevin Zeitler and Teven Jenkins.
Like Cosmi, cornerback Benjamin St-Juste was a 2021 draft pick and is set to hit the open market next offseason. Corners like Byron Murphy Jr., Mike Hilton and Rasul Douglas are schedule to be available next offseason, but keeping St-Juste, who stated 28 games over the last two years, would make plenty of sense.
It's hard to pinpoint another 2025 free agent who absolutely must be retained, but Washington may well uncover one among its group of 2024 additions. Bobby Wagner, Dante Fowler Jr. Clelin Ferrell and Jeremy Chinn all joined the Commanders on one-year deals.
If, for example, the 26-yearold Ferrell breaks out under new head coach Dan Quinn, the Commanders may not want to let him test the 2025 market.
While there isn't a real need to create cap space right now, that could change if a trade opportunity arises or Washington does start locking up players.
The Commanders could create some room by restructuring Terry McLaurin's contract, which has a 2024 base salary of $15.2 million. Restructuring Jonathan Allen's contract, which has a base salary of $14 million, could also create some space.
Extending Allen, who is signed through 2025, is yet another option. And with second-round pick Jer'Zhan Newton in the fold, the Commanders could consider moving Allen or fellow defensive tackle Daron Payne.
Payne is signed through 2027, and Washington is unlikely to keep both min and Allen beyond next season. Newton could be primed to take over before the trade deadline, and one of the veterans would surely bring valuable compensation in a trade.
Trading Allen after June 1 would save $15.4 million in cap space. Trading Payne after June 1 would save $16 million in space.
*Cap and contract information via Spotrac.