Eagles GM Howie Roseman doesn’t appear to be done waving his magic wand just yet, and reportedly freed up nearly $7 million in cap space by restructuring Lane Johnson and Jake Elliott’s contracts. The team converted some of their base salaries into signing bonuses to free up the extra cash, which gives Roseman and Co. about $8 million in total cap space still to play with this year.
In a near annual rite of passage, the Eagles have restructured the contract of OT Lane Johnson, per source.
Philly converted $5.88M of Johnson’s base salary and $2.715M of K Jake Elliot’s base salary into signing bonuses, creating about $6.9M in 2022 cap space.
—Field Yates (@FieldYates) September 8, 2022
While Roseman did a great job filling several roster holes this offseason — AJ Brown at WR, Kyzir White at LB, Chauncey Gardner-Johnson at SAF — the Eagles often talk about wanting to add talent and depth whenever possible. This $8 million gives them some more flexibility.
Before these contract changes, the Eagles were among seven teams with less than $6 million in cap space, which would have put them at a disadvantage. There’s always the chance that Roseman already has a roster move in mind for the money, but it could also just give them a cushion heading into the season should they need help due to injuries or if they want to make an in-season contract extension.
It’s worth noting that Javon Hargrave’s contract remains untouched, which is surprising. His contract seems like an obvious choice to either be restructured or extended assuming they want to keep him in Philadelphia beyond the 2022 season. The Eagles did convert nearly $12 million of his 2021 salary into a signing bonus, but they also added another voidable contract year, so they either don’t see a benefit to another restructure or maybe aren’t planning to keep him around long term.