The NFL salary cap is designed to maintain a competitive balance in the league, limiting what teams are able to spend on player salaries throughout their roster. But there are some creative ways in which teams can manipulate and navigate the salary cap, and it appears that the Seattle Seahawks are doing just that this week.
As NFL insider Field Yates of ESPN reports, the Seattle Seahawks are restructuring the contract of veteran wide receiver Tyler Lockett in a way that allows the team to free up more than $5 million in cap space this offseason.
“A non-schedule note: the Seahawks have restructured the contract of WR Tyler Lockett, converting $8.535M of his base salary into a signing bonus, creating $5.69M in cap space, per source,” Yates said in a tweet.
A non-schedule note: the Seahawks have restructured the contract of WR Tyler Lockett, converting $8.535M of his base salary into a signing bonus, creating $5.69M in cap space, per source.
— Field Yates (@FieldYates) May 11, 2023
This move will obviously allow the Seahawks to sign more free agents as they continue to try to bolster their roster ahead of the 2023 season, and the NFL world had plenty to say about it on Twitter.
John Schneider actually does restructure a contract to open up immediate cap space. This is the one I thought he would do if Seattle went this route. https://t.co/T2HOuAZhhS
— Corbin K. Smith (@CorbinSmithNFL) May 11, 2023
Good move by both parties. Tyler Lockett gets cash upfront and the #Seahawks have more cap space wiggle room to (hopefully) go after a nose tackle! https://t.co/qPNTluH1Qu
— Samuel Gold (@SamuelRGold) May 11, 2023
The Seahawks don't make a habit of restructuring contracts for salary cap purposes. https://t.co/TVMzK1xlSN
— Joel Corry (@corryjoel) May 11, 2023
Someone's getting signed
— Steve LargeNuts (@SteveLargeNuts) May 11, 2023
There are 3 edge rushers sitting there.
Clowney
Floyd
ClarkIt would be wise of us to sign one of them. My guess is that we make a run a Clark
— The Jabronie (@the_jabronie) May 11, 2023
In making this move, it’s likely that the Seahawks already have someone in mind they’d like to target in free agency. With the lack of depth on the defensive line, it seems likely that’s the position group the team would like to address.
