The Kansas City Chiefs have gained significant salary cap space by trading cornerback L’Jarius Sneed to the Tennessee Titans, allowing them to potentially re-sign free agents, solidify the wide receiver room, and extend key players. With approximately $26.5 million in cap space, the team may look to bring back contributors from last season, make moves to bolster the offense, and negotiate contract extensions for key players.
The New England Patriots have around $50 million in salary cap space and are considering various options for utilizing it, including pursuing second-tier free agents, exploring the trade market for potential acquisitions, signing internal players to contract extensions, rolling over cap space to 2025, and re-signing the remaining free agents. Despite missing out on high-profile free agents like Calvin Ridley and Jonah Williams, the Patriots still have resources to remain competitive in free agency and address their roster needs.
Quarterback Patrick Mahomes will restructure his contract, freeing up $21.6 million in salary cap space for the Kansas City Chiefs as they aim to secure their third consecutive Super Bowl win. This move comes as the Chiefs recently designated cornerback L'Jarius Sneed as their franchise player and signed defensive tackle Chris Jones to a new contract.
The Kansas City Chiefs have restructured Patrick Mahomes' contract to free up $21.6 million in salary-cap space, potentially signaling their intent to make more moves in free agency. This move comes after re-signing edge rusher Chris Jones and could help the team in their pursuit of a historic three-peat in the Super Bowl era.
Patrick Mahomes has agreed to restructure his contract, creating an additional $21.6 million in salary-cap space for the Kansas City Chiefs. This move comes after the team secured the return of star defensive tackle Chris Jones on a massive deal and made other offseason moves. With more money to play with in free agency, the Chiefs aim to build another Super Bowl team and pursue an unprecedented three-peat.
The Cleveland Browns have restructured Jedrick Wills Jr.'s contract, converting a portion of his fifth-year option tender into a restructure bonus, which has cleared $10.44 million in salary cap space for the team. This move comes after Wills underwent arthroscopic surgery in December to repair a torn MCL, and the Browns also added a void year to spread out the bonus.
The Seattle Seahawks have restructured quarterback Geno Smith's contract, converting his roster bonus into a signing bonus and creating $4.8 million in 2024 salary cap space. This move will evenly spread the bonus over the next two seasons, reducing Smith's cap hit for this season to $26.4 million but escalating to $38.5 million in 2025. Despite uncertainties surrounding his future with the team, Smith's performance in 2022 earned him a Pro Bowl appearance and NFL Comeback Player of the Year award.
The Detroit Lions are releasing veteran safety Tracy Walker III, creating $5.5 million in 2024 salary cap space. Walker, who was drafted in 2018 and had been with the Lions for six seasons, expressed gratitude to the team and fans on Instagram. Despite a significant injury in 2022, he returned to a backup role in the 2023 season. Walker's departure marks the end of his tenure with the Lions, during which he made significant contributions to the team's secondary.
The Chicago Bears have released veteran players Eddie Jackson and Cody Whitehair, clearing almost $22 million in salary-cap space. Both players had been with the Bears for their entire careers and were entering the final year of their contracts. General manager Ryan Poles made the decision as part of a crucial offseason ahead of the NFL scouting combine and free agency. The moves leave the Bears in need of a new center/interior lineman and a safety.
New Patriots head coach Jerod Mayo plans to use the team's ample salary cap space to bring in new talent for the upcoming season, emphasizing a willingness to "burn some cash" to upgrade the roster. With the departure of Bill Belichick, Mayo's plans for the team's offseason acquisitions will play a significant role in shaping the Patriots' future.
Sacramento Kings' center Domantas Sabonis has agreed to a contract extension worth $217 million over five seasons, including $195 million in new money. Sabonis prioritized the franchise's roster-building flexibility over maximizing his earnings. The Kings also re-signed forward Harrison Barnes and reached a deal with EuroLeague star Sasha Vezenkov. Since joining the Kings in 2022, Sabonis has been instrumental in the team's return to the playoffs, earning third-team All-NBA honors with impressive stats.
The New England Patriots have extended the contracts of wide receiver DeVante Parker and linebacker Ja’Whaun Bentley, which will create more salary cap space for the team in 2023. This could potentially help them in their pursuit of signing another veteran player, such as DeAndre Hopkins, or making another deal this summer. The Patriots may be positioning themselves for a significant move in the upcoming months.
The Carolina Panthers have signed wide receiver Adam Thielen to a three-year, $25 million contract, which has a mild $3.3 million cap number for 2023. The Panthers currently have about $23.5 million in available cap space after Thielen's signing and other free-agent deals this offseason.
The Carolina Panthers have approximately $16.13 million in salary cap space after the first wave of free agency, with details on two recent deals yet to be announced. The team is likely to use some of that money to sign a wide receiver, with Odell Beckham Jr., Adam Thielen, and Mecole Hardman among the potential targets.
The Green Bay Packers have restructured the contract of cornerback Rasul Douglas, creating around $3.3 million in salary cap space in 2023. This is the seventh contract restructuring by the Packers this offseason, resulting in over $50 million in cap relief. The team converted Douglas' roster bonus and some of his base salary into a signing bonus and added void years to spread out the proration over more years.
