In a move to save some salary caps space this year and next, the Eagles have reportedly restructured Fletcher Cox’s contract.
The latest from ESPN’s Field Yates:
It’s not clear why the Eagles elected to restructure Cox’s contract right now but this is not necessarily tied to the upcoming trade deadline. I wouldn’t read that far into it. After all, the Eagles already had plenty of cap space if they wanted to trade for a veteran with a higher price tag.
Before this move, the Eagles had just over $17.1 million in salary cap space, so after it they’ll be closer to $23 million. Of course, the Eagles will want to roll over as much that salary cap space as possible to the 2021 season, where their cap situation is much more precarious.
OverTheCap estimates the Eagles to be $68 million over the cap in 2021, which doesn’t seem great. But they’ll likely roll over around $22-23 million and have some other pretty easy ways to become cap compliant next year too.
Converting base salary into bonus money is a common practice, especially for the Eagles. In a way, it’s a kick-the-can method but it hasn’t really burnt them too bad because the salary cap typically rises year over year. And this isn’t a pay cut in any way. This just means that the money gets moved around and Cox actually gets that money in his pocket in a lump sum instead of spread out over the course of the year with game checks.
Basically, converting base salary to bonus money drops the cap hit in the current year and spreads out that money over the remaining years of the contract.
Before this restructure, Cox’s base salary was $11.2 million. And his cap number for this season was $22.8 million, which was the highest on the team. Even after this move, he’s still has the second-highest cap hit behind just Carson Wentz.