Bradley Chubb Contract Restructure

[EDGECRUSHER]

Miami restructured his contract and saved $14 Million against the cap. That move puts us just $1 Million over the cap but that doesn't include Byron Jones and his June 1st cut. I honestly have no idea how the NFL works with post June 1st cuts. Do we get the cap savings after that date or it counts now?

Either way, expect more restructures and extensions within the next week. I don't know who we will go after in free agency, but it wouldn't surprise me if we got a big name RT.

[DenverFinFan]

Seems like a good thing

[fyo]

Edge, the cap savings only go into effect June 1st and we have to be below the cap limit by the 15th of this month.

We cut Cethan Carter as well, which saved us over $2 million, but tendered safety Elijah Campbell at $1 million.

Overthecap.com have us at 700-some thousand over the cap with those changes and still only 43 players under contract.

The obvious way to reduce cap is to convert Armstead's roster bonus and salary ($17 million combined) to league-minimum plus a signing bonus, which would free up almost exactly $13 million.

We also signed Mike Pouncey to a 1-day contract so he can retire a Dolphin.

[Dave Gray]

I saw today that Armstrong restructured, as well.  It's contract week here in Miami.

[fyo]

Not sure what we did, but Spotrac and overthecap have us at 29-30 million UNDER the cap now.

[fyo]

Alright, so it looks like we did the same number with Tyreek (converting salary+bonuses to a signing bonus + league minimum salary). I don't have the exact numbers of his old contract, but it was something like $25 million salary and $10 million roster bonus, so that pretty much fits with the extra cap space.

Just to sum up: We're $30 million under the cap right now and will get the $13+ from cutting Byron Jones June 1 st. We still have a lot of players to sign (only 43 under contract), but this gives us some room to make a move on corner or offensive line.