Now you’ve heard of the Eagles’ precarious salary cap situation in 2021 With the start of the league’s new year in less than a month, the Eagles have work to do
The NFL salary cap in 2020 was nearly $ 200 million and NFL teams were preparing to raise another $ 10 million, but a global pandemic has struck and torpedoed revenues
So last year the NFL and NFLPA set a salary cap of $ 175 million for the 2021 season The new floor cap would be $ 180 million and could rise further, according to multiple reports
The folks at OverTheCap have their forecast set at $ 180 million, so we’re going to use that for now.Based on that number and the total carried over from the 2020 season, OTC is projecting the Eagles to break the cap $ 49 million Not great
But it’s also not the worst situation in the league (the Saints have nearly $ 70 million more) and the Eagles are bracing for it There are several moves they will definitely make and more possibilities they could do to become limit compliant when the league’s new year begins on March 17
The Eagles have already done the heavy lifting with Jeffery and Malik Jackson, who will be almost permanently eliminated immediately after the start of the new league year. Basically what it looks like the Eagles are planning to do is use their two post-June 1 cup designations on Jeffery and Jackson, which prevents future bonuses from accelerating to the cap when players are cut; this is what usually happens.The problem with the post-June 1 cuts is that the team have to carry over those full capping numbers until June 1 and that doesn’t help the Eagles now (Jeffery was around 18 million dollars and Jackson about $ 13 million) So they came up with an inventive workaround
In this case, the Eagles restructured Jeffery and Jackson’s contracts, lowering their base salaries to $ 2 million each and allowing for instant cap relief, while also using that post-June 1 cut. to maximize this relief Why would Jeffery or Jackson accept this? Because that pretty much guarantees that the Eagles will be forced to release them sooner, which will allow those players to try and find new homes sooner.
In Jeffery’s case, they cut his base salary from $ 12.75 million to $ 2 million, which lowered his cap from nearly $ 18 million to $ 7 6 million (a savings of $ 10 million) , according to a league source
To ensure the Eagles either give him a different contract or release him, Jeffery’s contract includes a guaranteed base salary of $ 25 million for 2022 if he is on the roster on the second day of the championship year 2021 So they’re obviously going to cut it when they do, they’ll likely do so with a post-June 1 designation, potentially saving them an additional $ 2 million in cap space.
The Eagles did something very similar with Jackson’s contract They lowered his 2021 base salary from $ 9 million to $ 2 million, which raised his cap from $ 13$ 6million to $ 5million 6million, league source says I expect the Eagles to use their other designation after June 1 on Jackson
The Eagles have also enshrined in his contract a guaranteed base salary of $ 25 million in 2022 if he is on the roster on the second day of the 2021 championship year, which means he will also be deleted the 17th of March Howie better not forget to file the papers
The Eagles will have capping loads associated with Jeffery and Jackson in 2022, but hopefully by then the league-wide cap will have returned to normal highs again.
Right now, Derek Barnett is set to play the 2021 season with the fifth-year option of his rookie contract, which comes with a base salary just north of $ 10 million and a corresponding fee cap While the Eagles bit the bullet and paid Nelson Agholor the price of the fifth-year option a few years ago, it’s hard to imagine them making that mistake again.
1 Cut it and move on The base salary for the fifth year option is only guaranteed on the first day of the league’s new year … March 17 So if the Eagles decide it better move on, there’s $ 10 million in space right there
2 They can make some sort of new deal with Barnett before the new league year starts. If Barnett is to stay and the Eagles want to keep him, they can make a deal Basically any kind of deal would lower considerably its ceiling reached in 2021
Aging Speed Receiver has a cap of $ 10.7million in 2021 and the Eagles would save nearly $ 5million by releasing it To me it’s a no-brainer It’s time to move on
There was a report in the last offseason that the Eagles and Goodwin agreed to a contract restructuring, but Goodwin then opted out of the 2020 season and his original contract is the one who rang, according to a source Eagles can save $ 4.2million (full cap hit) by releasing him It’s wise
If the Eagles cut or trade Ertz they’ll save $ 4-7million cap space I don’t think the market is particularly strong for Ertz right now He’s an aging player with a base salary of $ 8.25 million in 2021 and he wants a new contract The Eagles don’t have much influence, but if they grab a Day 3 pick it’s better than nothing
To be clear, that would be a very minimal saving.If he is part of the Eagles roster in 2021, Wentz’s cap hit is $ 34,673,536 If they trade him, his cap reaches $ 33,820,608 So we’re talking about savings of less than $ 1million But it still seems likely for a lot of other reasons
Wentz aside, the team’s biggest cap hit in 2021 belongs to Cox at $ 23.9 million Cox is 30 years old now, but he still plays at Pro Bowl level and is under contract for the 2022 season only The Eagles could offer him an extension of that contract to spread that out, or they could just offer him a lump sum in the form of a signing bonus to lower his base salary, add one more dummy year to the contract, and spread that amount over. the duration of five seasons to lower its ceiling reached in 2021
This one is really out of the hands of the Eagles, but based on his comments on the Green Light podcast, Kelce is still at least considering retiring
If Kelce retired now, the prorated portions of his signing bonuses would accelerate, leaving $ 10 million in dead money, which would be a costly charge, especially since his cap hit in 2021 is not that to $ 8 million So if Kelce wants to retire the Eagles could probably make a deal like the Saints did with Drew Brees They could cut his base salary to a minimum of $ 5 5 ($ 1,075M) and Kelce could wait after June 1 to file his papers, which would spread that bonus money (dead money) over the remaining three years of his TLDR contract: The Eagles could save $ 4 million cap space now and another million after June 1
I’m not saying it’s likely, but I want to point it out as a possibility Given their situation, the Eagles don’t really have untouchable players when it comes to trades Slay was good in 2020 but he wasn’t. not great and he’s now 30 with a big contract Slay has a cap of $ 15 $ 75 million in 2020 and the Eagles would save $ 6 million of cap space by trading him (but that would leave almost $ 10 million in dead silver)
Philadelphia Eagles, Alshon Jeffery, Salary Cap, Malik Jackson
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