Here's how much additional 2022 cap space the Philadelphia Eagles created by restructuring Darius Slay's contract.
By converting base salary to a signing bonus, NFL teams can spread out a cap hit over the life of a contract. In NFL contracts, base salaries count entirely against that year’s cap but signing bonuses are spread out.
According to Yates, the Eagles converted $14.88 million of Slay’s $16 million base salary in 2022 into a bonus. That $14.88 million reduces Slay’s base salary in 2022 from $16 million to $1.12 million, the minimum for players with seven or more years of service. That reduces Slay’s 2022 cap hit from $22.035 million to $10.131 million -- a cap savings of $11,904,000.
That $10.131 million cap figure consists of his $1.12 million base salary, $3.25 million pro-rated over four years from his original $13 million signing bonus in 2020, a $500,000 workout bonus and $5.261 million in restructure bonus money.
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