Inside the Fletcher Cox restructuring

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The Eagles have indeed created millions in cap space, with the simple stroke of a pen.

Defensive tackle Fletcher Cox has signed a restructured contract that pushes a large chunk of his 2018 and 2019 compensation into future years, adding extra space this year and next year. The specific details appear below.

Per a source with knowledge of the contract, the Eagles converted $8.19 million in remaining 2018 salary to a bonus that will prorate at $1.638 million per year through 2022. The net 2018 cap savings becomes $6.552 million.

Come next year, $14.67 million of Cox’s $15.6 million base salary becomes payable as an option bonus, reducing his base salary to $930,000. The device drops the cap number arising from the $14.67 million payment to $2.934 million per year, through 2023. The option bonus creates $11.736 million in cap space, with a net cap reduction (given the 2018 cap savings) of $10.098 million for 2019.

That’s a total cap savings over the next two years of $16.65 million. The cap dollars don’t disappear, however. The shifting of dollars increases Cox’s future cap numbers by $2.547 million in 2020, $5.247 million in 2021, and $5.247 million in 2022. It also adds one more contract year that will void, but that will carry a cap charge of $3.509 million. Add it all up, and that’s $16.55 million.

(If the reduction for 2020 seems low, there’s a reason for that. The contract includes a second option bonus of $2.7 million in 2020. It will be spread over 2020 through 2023 at a rate of $675,000 per year, reducing the otherwise inflated 2020 cap number by $2.025 million.)

The next question becomes what will the Eagles do with the extra cap space? Some think it will be devoted to a trade for running back Le'Veon Bell or running back LeSean McCoy. It also can be used on a new deal for quarterback Carson Wentz. Or it can be automatically rolled over, if the Eagles decide not to use it.

Still, it would be odd to create that much 2018 and 2019 cap space without having a plan for it. Eventually, we’ll all find out what that plan is.

30 responses to “Inside the Fletcher Cox restructuring

  1. I’d just like to see them win a game Thursday….rich men losing is hard to watch – and after 30+ years has been too much of it. Yeah, SB52 is over, show me now.

  2. I personally wouldn’t want Bell.I understand he wants to secure his future but what if you sign him and 2 years down the road he wants a raise.Will he sit out or will he cause a locker room mess.

  3. By far the worst roster in the nfl . The fact that doug pederosn was able to squeeze out 2 wins from this awful roster should earn him coach of the year

  4. Eagles have the worst roster in the nfl . The fact that Douglas peterson was able to squeeze out 2 wins from this awful roster should earn him coach of the year

  5. Umm, that’s not a lot of cap space for a team with a LOT OF PLAYERS who need deals.

    Swapping out players all the time and not having the best drafts, is a recipe for disaster.

    Some teams with inflated opinions of themselves think they are immune.

  6. So basically the Eagles are kicking the can down the road. I’m no cap expert so who am I to say if its a good or bad idea. At some point a cut will happen and dead money will be decided.

  7. The Eagles want/need cap space to extent Wentz and Ronald Darby (FA next yr) and also need money to go after any FA players next year. They are not trading for Bell or McCoy. There are other options if they want a trade for a RB that are cheaper..Abdullah, Tevin Coleman, Kenyon Drake, ect Even Jordan Howard is rumored. I doubt any of them. I’d go after Penny in Seattle or maybe Booker in Denver.

  8. At least it’s nice to see a team that’s still trying to make another run. At least they’re still focused on making the team better. At least they still think that with a few moves they can pick up pieces that will get them another super bowl. Wouldn’t it be worse if they weren’t trying to do something this year and just rolled over and gave up the ghost?

  9. tylawspick6 let’s face it you know nothing about what players need to be signed on the Eagles. Most of the significant members of this roster are signed through 2021. The exception being Carson Wentz. The moves made by the front office were made to win now. Since the team hasn’t started out well the new cap space will be used to enhance the team this season. They need to win the NFC East then take care of business when the season is real. Worry about your Pat’s in that weak division and let the real football teams alone.

  10. I thought that the Viking fans where the biggest babies in the NFL, but it seems like the Patriots fans are. Every thread about the Eagles they come in crying and whining about the Super Bowl and Lane Johnson.

    You would think that a fan base that had so much success over the past decade and a half would have a little couth, but I guess not. Keep crying, those tears are nice and salty.

  11. Greymares, you must be a pretty ridiculous fan if you don’t know that Iggles have 3 defensive starters and several other major contributors on defense are all UFA. Best corner, FS, DE…these are not cheap contracts. Then add in 2 major receivers, RT, and the upcoming Wentz contract….seems to me not as many major players wrapped up till ‘21 as you so claim. And to top it all off, they are 30 million over the cap at start of year this year. Yes they’ve made room recently, but they are kicking te van and will pay the piper eventually. Dallas and Pittsburgh did the same thing to themselves and had to go through the cap he’ll, and Iggles will soon. But you wouldn’t know that I’m sure, and I wouldn’t expect more from an Iggles fan.

  12. Once you do what they did you can’t simply cut him and the money goes away…. The money designated down the road still hits the cap values.

    Ask Dallas…I think they are still paying Troy Aikman for how many times he restructured…Obviously an exaggeration, but it is the reason they have been in cap hell for years and are just getting out.

  13. Yawn. The Iggles are highly overrated. They had their run last year, now its over.
    The ONLY reason this is a story is because 75% of the media coverage of the NFL involves ONLY the teams that reside in the NE corridor from Wash DC up to Boston.
    THAT is why there are soooooo many stories on NYJ/NYG, Iggles, and Pats.
    Someone please alert the media that there actually are NFL teams in flyover country.

  14. It’s a shame their are only 32 teams with all the capologist their are here. P.S. The cap number is inflated because of Foles contract. He counts 20 mil, it will be 2 mil after being cut or traded. I’m sure Howie will figure the rest out.

  15. Timebandit24, I’m well aware of the players not signed. Graham won’t be back he’s already been replaced with Sweat as for the corner although decent he will sign at a decent salary or walk the safety is also insignificant. As an Eagle fan I don’t overvalue mediocre talent like you do.

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