The Cleveland Browns and running back Nick Chubb have reworked his contract to reduce his salary cap hit and ensure his return for the 2024 season, with the potential to earn up to $12.2 million based on performance levels. Chubb, who suffered a season-ending left knee injury in 2023, had a base salary of $11.8 million for the upcoming season before the restructuring. The team remains hopeful for his return during the 2024 season as he continues to recover from his knee surgeries.
Josh Sweat has agreed to a restructured contract with the Philadelphia Eagles, ensuring his presence for the upcoming season. The restructured deal guarantees him $10 million in 2024 with potential incentives that could raise the total value to $13 million. This move resolves the uncertainty surrounding Sweat's future with the team, as he was entering the final year of his contract. The Eagles' significant investment in pass rushers, including Bryce Huff, raises questions about the future of Haason Reddick, who also faces a contract year with a substantial cap hit. Despite a challenging 2022 season, the Eagles are optimistic that Sweat, with his impressive track record, will regain his form under the new defensive staff.
The Baltimore Ravens are expected to release wide receiver Odell Beckham Jr. before midnight with a post-June 1 designation after restructuring his contract in January, as keeping him on the roster would guarantee a $50 million 2025 salary. This move comes amidst a series of departures from the Ravens' roster, and while they have depth at wide receiver, they may still look to bolster the position further, possibly through the upcoming NFL draft.
Kyle Juszczyk, the 49ers' fullback, will remain with the team for the 2024 NFL season after agreeing to a contract restructure, securing cap savings for the team. Juszczyk, a Pro Bowl player, expressed his commitment to continue playing and feels physically fit to do so. The restructured deal creates $1.75 million in salary-cap space for the 49ers, and Juszczyk's role as a lead-blocker for running back Christian McCaffrey is expected to continue.
The Jacksonville Jaguars and right guard Brandon Scherff have restructured his contract to fully guarantee his $15 million salary for the upcoming season, saving the team roughly $5 million against the salary cap. Scherff, who ranked 13th in pass block win rate among guards in 2023, will return alongside left guard Ezra Cleveland, as the Jaguars aim to improve their offensive line performance after ranking low in both pass and run block win rates last season.
Tyler Lockett has agreed to a reworked deal to stay with the Seattle Seahawks, with a two-year, $30 million contract and $13 million guaranteed this year. The wide receiver's previous deal would have counted $26.895 million against the cap in 2024. Lockett, who has been with the Seahawks since 2015, had 79 receptions for 894 yards and five touchdowns in 2023, marking his lowest yardage and touchdown totals since 2017.
The Seattle Seahawks restructured Geno Smith's contract, freeing up 2024 salary cap space by moving $4.8M of his roster bonus to the 2025 season. This move could indicate the team's intention to keep Smith as their quarterback, prepare for a potential trade, or sign their own free agents to new contracts. The restructure does not change Smith's pay or overall cap hits, and fans will have to wait to see how the situation unfolds.
The New Orleans Saints are restructuring quarterback Derek Carr's contract by converting a portion of his base salary to a signing bonus, providing about $23 million in cap savings for the club. Carr signed a four-year deal with the Saints just over a year ago and led the team to a 9-8 record in 2023, completing 68.4 percent of his passes for 3,878 yards with 25 touchdowns and eight interceptions.
Patrick Mahomes and the Kansas City Chiefs have reportedly agreed to a restructured contract that will bring the average annual value closer to the highest-paid quarterbacks in the league. The new deal will see Mahomes receive $210.6 million over the next four seasons, making it the most lucrative four-year span for a player in NFL history. The quarterback's original 10-year contract was worth $477 million, but several other quarterbacks have since signed deals with higher average annual values. Mahomes has been guaranteed an NFL record $273 million since his contract was agreed to in 2020.
The Cincinnati Bengals have restructured Joe Mixon's contract to keep him for the upcoming season. Mixon had a non-guaranteed base salary of $9.4 million and represented a $12.8 million hit against the salary cap. Despite a drop in production last season, Mixon's future with the team seemed more solid after the Bengals didn't select a running back in the draft. Mixon is currently facing a misdemeanor aggravated menacing charge, set for trial during Cincinnati's training camp.
Aaron Rodgers is set to make $107.55 million in 2024 after restructuring his contract to help the New York Jets' salary cap for this season. The compensation includes a fully-guaranteed $58.3 million option bonus, the original $47 million option bonus in 2024 from the contract he signed with the Green Bay Packers, and a $1.21 million base salary. The Jets had $8.6 million in cap space available before the Rodgers trade, and he was set to count $31.6 million against the cap. The $58.3 million option bonus for 2023 had to be picked up before the start of the regular season.
The Green Bay Packers have restructured the contract of cornerback Rasul Douglas, freeing up approximately $3.3 million in salary cap space and shifting it into future years. The move converts Douglas’ roster bonus and as much base salary as possible into a signing bonus and adds three void years after the 2024 season to spread the charge out over five years for salary cap purposes. Douglas has been one of the biggest surprises in the NFL over the past two seasons, recording nine interceptions in 29 games with the Packers.
The Seattle Seahawks could save $8.4 million in cap space by releasing safety Jamal Adams after June 1, but it's unlikely to happen due to his value to the team and the negative impact it could have on the locker room. Instead, a contract restructure is a more likely outcome. The Seahawks recently retained safety Ryan Neal, who has been a solid replacement for Adams in the past, on a one-year deal. Adams is still rehabbing from a torn quadriceps injury that cost him most of the 2022 season.
The Carolina Panthers have restructured the contract of cornerback Donte Jackson, creating more salary cap flexibility for next year. Jackson signed a three-year contract extension last offseason and is currently rehabbing from a torn Achilles. The Panthers have been active in free agency, signing several players and trading for the No. 1 overall pick in this year's NFL draft.
The Detroit Lions have restructured the contract of defensive end Charles Harris, freeing up over $2.8 million in cap space ahead of the new league year. Harris was limited to six games last season due to injury. The Lions plan to use the extra cap space to finalize the signings of David Montgomery, Emmanuel Moseley, and Cameron Sutton.
